After the 2015 ZIKV outbreak in Brazil followed by rest of Latin America, the Caribbean, and the United States, application of Zika virus tests have increased dramatically. Recently, multiple national and international organizations including the U.S. FDA and Pan American Health Organization has approved Emergency Use Authorizations (EUA) for ZIKV point-of-care (POC) diagnostic tests. This has in turn boosted the demand for Zika virus POC tests. Further, governments of Zika-prone countries have enacted Zika Screening Programs in all hospitals and blood banks. Such increasing national awareness and screenings have increased the demand for POC testing systems.
Analysts, involved in research and development of the Zika Virus POC testing market report have addressed key concerns influencing the future demand for the global Zika virus POC testing market.
What is the current value of the global Zika virus POC testing market according to your analysis?
The global Zika virus POC testing market is estimated to have generated revenues worth of US$ 4,100 Mn by the end of 2017, according to our meticulous analysis.
What are the important key drivers responsible for the global Zika Virus POC testing Market?
We have investigated all aspects associated with the Zika virus testing market such as disease outbreak history, available testing systems, level of penetration and adoption of these tests, and developments in the R&D and clinical approval scenario of the tests.
In this careful investigation, important influencing drivers of the market recognized were rapid and sophisticated diagnosis tests, intensive government measures for disease prevention, and ongoing R&D projects to understand and develop more efficient Zika virus tests.
According to your analysis, which is the most lucrative region for global Zika Virus POC testing market?
Well as we know about the Brazil ZIKV outbreak, our regional analysis has observed that Latin America will dominate the global market with revenue generation of over US$ 2,400 Mn by end of 2017. The Caribbean region is estimated to grow at a brisk pace due to high prevalence of Zika Virus disease.
Can you identify the key market players of the Zika virus POC testing market?
The identified prominent leading stake holders of global Zika virus POC testing market are EUROIMMUN US, Inc., Creative Diagnostics, Quest Diagnostics, Artron Laboratories Inc., and GenBody Inc.
Have you considered impacts of contracting incidences of Zika virus disease on the global market?
Absolutely. We are aware of the fact that probable cases of Zika virus disease has dropped by approximately 70% in the span of one year ending in 2017. This has translated in declining market values in the Zika prone regions including Brazil, Puerto Rico and the United States.
Lastly, have you considered restraining factors while determining the global market scenario of Zika virus POC testing?
Yes. We are well aware of the lack of efficiency of the POC tests that are presently available in the market including ELISA and rapid IgG/IgM Zika virus test. Although ELISA test provides more accurate results than IgG/IgM tests, companies are unable to avoid important factors such as cross-contamination and false-positive results. Thus, R&D departments of biopharmaceuticals and research organizations are actively working towards increasing efficiency of these diagnostic
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