An Incisive, In-depth Analysis on the Zika Virus Testing Market
This study offers a comprehensive, 360 degree analysis on the Zika Virus Testing market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Zika Virus Testing market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
ELISA kits to be the most preferred tests for detection of Zika virus
Zika virus is a mosquito borne disease that affects pregnant women and their foetus the most. No vaccine against Zika virus has been developed yet and given the ongoing research, a cure or vaccine to treat the Zika virus remains years away. During the sudden Zika virus outbreak in 2016, there was a rapid increase in the use of POCT diagnostic tests. POCT or point of care test, does not require any laboratory setup. Any tests including RT-PCR, serology IgG/IgM Antibody detection, ELISA that may be performed without any laboratory setup can be considered as point-of-care tests. POCT tests can be performed in high risk settings, which include cases that display severe symptoms of Zika virus such as rashes in pregnancy along with fever, conjunctivitis, and muscle pain.
The research on the Zika virus point-of-care testing market considers two types of POCT tests, i.e. IgG and IgM Antibody Rapid Test and ELISA kits. According to the analysis reports, the market is expected to be dominated by ELISA kits, reaching a market size of over US$ 4,400 Mn by the end of 2020.ELISA is preferred more due to its specificity and sensitivity.The IgG/IgM Rapid Tests expected to hold a market value of just US$ 26 Mn by the end of 2020.
Emergency approval of POCT testing for Zika virus screening to result in a rampant growth of test kits
The recent outbreak of Zika in Brazil, the Caribbean, the United States, Canada and various parts of Europe was caused by a more virulent viral strain from Asia. This strain traveled across the Pacific region, infecting people in island nations there, including French Polynesia. Public health officials including CDC and WHO have declared that Zika virus infection causes microcephaly and other life-threatening neurological disorders. This has increased governmental spending on the development of innovative medical diagnostic tests. Rapid IgG/IgM Zika test cards, cassettes, strips and rapid ELISA kits are the current key advanced diagnostic test kits available in the market as they have shown promising results with less sample requirement and complications associated with their usage. IgG/IgM Rapid Test is a lateral flow immunoassay for the simultaneous detection and differentiation of ZIKV in human serum and plasma. Whereas, the Zika virus ELISA (Enzyme-Linked Immunosorbent Assay) test kit detects IgM/IgG antibodies specific to Zika virus in human serum and plasma. These test kits have emerged as powerful diagnostic tools.
In Oct 2017, Chembio Diagnostics Inc. received FDA emergency use authorization (EUA) for its DPP Zika system. Similar emergencies have also been approved by the Pan American Health Organization, and this has boosted the demand for POCT tests.There has also been an increase in the spending by the U.S. FDA as well as the Brazilian government to add the Zika Screening Program across all the hospitals and blood banks in America. Many organisations are also focusing on increasing national awareness campaigns about the Zika spread. These factors may further generate more revenue for the Zika virus point-of-care testing market.
Future Market Insights (FMI) offers a 3-year forecast on the global Zika virus Point-of-Care testing market. The primary objective of the report is to offer updates and information related to market opportunities in the global Zika Virus Point-of-Care Testing market.
In terms of revenue, the global Zika Virus Point-of-Care testing market is expected to be dominated by Latin America, expected to register a CAGR of 2.8% during the forecast period, 2017–2020. The primary objective of the report is to offer insights on the market dynamics that can influence the growth of the global Zika Virus Point-of-Care Testing market over the forecast period. Insights on key trends, drivers, restraints, value forecasts and opportunities for companies operating in the global Zika Virus Point-of-Care testing market are presented in the report.
The global market for Zika Virus Point-of-Care Testing is expected to witness moderate growth in terms of value owing to rising increasing awareness towards Zika virus transmission, increased penetration of point-of-care testing kits, rising incidence of ZIKV cases, increased footprint of local manufacturers of rapid ZIKV testing kits, and external funding for research and development programs for developing rapid ZIKV diagnostic tests. However, other factors such as emergency approval of POC testing procedures for Zika virus, increased tourist traffic to areas with endemic Zika, proactive initiatives taken by government to control Zika and deployed military personnel is creating high potential growth opportunities for players operating in the global Zika Virus Point-of-Care testing market.
Revenue from the Zika Virus Point-of-Care testing market in Latin America is expected to expand at the relatively higher CAGR due to increase in funding by government bodies to manufacture rapid diagnosis kits that attract local manufacturers, rising incidence of Zika virus and increasing tourist traffic in the country. To understand and assess opportunities in this market, the report offers the market forecast on the basis of type into the test type, end user and regions. The report provides analysis of the global Zika Virus Point-of-Care testing market in terms of market value (US$ Mn/ US$ ‘000).
The global Zika Virus Point-of-Care Testing market is segmented on the basis of test types into:
- Rapid IgG/IgM Test
- ELISA Test
The report begins with the market definition, followed by definitions of the different Zika Virus Point-of-Care test types. The market dynamics section includes FMI’s analysis on key trends, drivers, restraints, opportunities and macro-economic factors influencing the growth of the global Zika Virus Point-of-Care testing market.
The report analyses the market on the basis of the end user and presents forecast in terms of value for the next 3 years. On the basis of the end user, the global Zika Virus Point-of-Care testing market is categorized into:
- Hospitals & Clinics
- Private Commercial Laboratories
- Government/ Publicly Funded Programs
Next, the report analyses the market on the basis of regions and presents forecast in terms of value for the next 3 years. On the basis of regions, the global Zika Virus Point-of-Care testing market is segmented into:
North America and Europe Cluster
Latin America Cluster
Central America Cluster
- Costa Rica
- Puerto Rico
In addition, we have considered Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify growth opportunities for companies operating in the global Zika Virus Point-of-Care testing market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective for services offered by Zika Virus Point-of-Care testing market. To understand key segments in terms of their growth and performance in the global Zika Virus Point-of-Care testing market, Future Market Insights has developed a market attractiveness index. The resulting index would help providers identify existing market opportunities.
In the final section of the report, a ‘competitive landscape’ has been included to provide a dashboard view of key companies operating in the global Zika Virus Point-of-Care testing market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the Zika Virus Point-of-Care Testing market and the potential players. However, this section also includes market strategies and SWOT analysis of the main players operational in the global Zika Virus Point-of-Care testing market.
Detailed profiles of Zika Virus Point-of-Care testing product manufacturers are also included in the scope of the report to evaluate their long- and short-term strategies. Key players in the global Zika virus Point-of-Care testing market included in this report are EUROIMMUN US, Inc., Creative