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Global Coronavirus Test Kits Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Healthcare
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Coronavirus Test Kits Market, By Test Type (Molecular Testing and Serological Testing), Sample Type (Swab Test, Nasal Aspirate, Tracheal Aspirate, Blood Test and Sputum Test), End-User (Hospitals, Point of Care Testing, Reference Laboratories and Home Care) – Industry Trends and Forecast to 2029

Coronavirus Test Kits Market

Market Analysis and Size

Coronavirus, which is now a global epidemic, was first discovered in the Chinese area of Wuhan. It is also known as coronavirus illness or COVID-19. RT-PCR, isothermal nucleic acid amplification, antibody detection, and other technologies are used in testing kits for the COVID-19 test, which identify the SARS-CoV-2 virus. Serological tests are employed for population surveillance, diagnosis, and the identification of antibodies.

Data Bridge Market Research analyses that the coronavirus test kits market which was USD 8.81 billion in 2021, would rocket up to USD 37.38 billion by 2029, and is expected to undergo a CAGR of 19.80% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Test Type (Molecular Testing and Serological Testing), Sample Type (Swab Test, Nasal Aspirate, Tracheal Aspirate, Blood Test and Sputum Test), End-User (Hospitals, Point of Care Testing, Reference Laboratories and Home Care)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Qiagen (Germany), F.Hoffmann-La Roche Ltd (Switzerland), Seegene Inc (South Korea), SolGent Co. Ltd (South Korea), Curetis (Germany), KURBO INDUSTRIES LTD. (Japan), Devex (U.S.), Thermo Fisher Scientific Inc (U.S.), Mylab Discovery Solutions Pvt. Ltd (India), Abbott (U.S.), Getein Biotech, Inc (China), Biomaxima SA (Poland), CTK Biotech, Inc (U.S.), CDC (U.S.), BGI (China), Luminex Corporation (U.S.), Avellino.com (U.S.), PerkinElmer Inc (U.S.)

Market Opportunities

  • Increasing spreading of COVID-19 pandemic across the globe
  • Increasing screening of passengers in airports

Market Definition

The novel coronavirus is a single-stranded RNA coronavirus that resembles existing SARS-CoV and bat coronaviruses. As this spreads by close contact with an infected individual and is largely spread through respiratory droplets produced by coughing and sneezing.

Coronavirus Test Kits Market Dynamics

Drivers

  • Need for test kits in hospitals

The need for coronavirus test kits has expanded along with the coronavirus's widespread. With the aid of test kits, coronavirus identification has become more crucial than ever in order to control the infection's spread and spur market expansion. Only specialised labs that are licenced to conduct the tests included in this kit, which are of the serology and molecular types. As the kits are based on techniques including real-time polymerase chain reactions, IgM ELISA tests, and microneutralization assays, samples are taken from the nose, sputum test, blood sample, throat swab, and nasal aspirate for testing. The demand for the industry is growing as a result of the global coronavirus outbreak.  As the number of patients in hospitals is increasing rapidly, the need for test kits to diagnose the patients with symptoms is also increasing, further driving the market growth.

  • Technological Advancements in COVID-19 Rapid Testing

Vendors created a variety of innovative rapid testing kits, including cups, cards, and smart test kits. Saliva samples were employed in painless quick testing kits. Additionally, test kits with quicker findings were released on the market. Rapid testing is preferred over other COVID-19 testing kits as a result of these developments. For instance, Meril Diagnostics, an international medical firm with operations in India, produces the non-prescription CoviFind COVID-19 Rapid Antigen Self-Test, which is available and has received approval from the Indian Council of Medical Research (ICMR) for routine usage in India.

  • Usage of COVID-19 test kits

Large academic institutions and businesses gave their stakeholders free home test kits. This was done as a preventative strategy to provide students and workers peace of mind and aid in the epidemic's decision-making process. The government, private businesses, and academic institutions have all taken initiatives to promote the use of COVID-19 quick testing kits.

Opportunities

Coronavirus test kits is driven by the increasing spreading of COVID-19 pandemic across the globe and increasing screening of passengers in airports. This study identifies the government regulations for healthcare service providers as one of the prime reasons driving the coronavirus test kits market growth during the next few years. The current coronavirus will significantly impact global population health and the economy. The demand for coronavirus testing kits is rising due to an increase in coronavirus cases worldwide. Government funding growth and the growing need to stop the spread of the coronavirus are predicted to further fuel market expansion.

Restraints/Challenges

Time required for result is more than 24 hours which is bit longer and will act as a restraint, and further challenge the growth of the coronavirus test kits market in the forecast period mentioned above. The increased number of false-positive and false-negative results is one of the main drawbacks of fast testing. A set of COVID-19 test kits contained findings that were both falsely positive and false negative. When verified with alternate COVID-19 testing, individuals with COVID-19 symptoms both tested negative and positive. These incidents caused the use of COVID-19 fast test kits to decline in some nations.

This coronavirus test kits market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the coronavirus test kits market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Coronavirus Test Kits Market

COVID-19 had a positive impact on the market, by locating the sick person and person-to-person transmission, the testing significantly contributes to controlling and mitigating the pandemic. One of the most frequently used COVID-19 tests worldwide is rapid antigen testing. Results from this diagnosis, which quantifies the amount of viral protein, can be obtained in within 15 minutes. The PCR was initially regarded as the gold standard for COVID-19 diagnosis. However, as time went on, more people started using fast diagnostics kits, and vendors also started making highly sensitive COVID-19 rapid test kits.

Recent Development

  • In April 2020 Hememics Biotechnologies Inc., a research and development business with headquarters in the U.S., established a cooperation with the Biomedical Research and Development Authority (BARDA) to create a quick antigen and antibody detection instrument that is Bluetooth-enabled.

Global Coronavirus Test Kits Market Scope

The coronavirus test kits market is segmented on the basis of test type, sample type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Test Type

  • Molecular Testing
  • Serological Testing

Sample Type

  • Swab Test
  • Nasal Aspirate
  • Tracheal Aspirate
  • Blood Test and Sputum Test

 End-User

  • Hospitals
  • Point of Care Testing
  • Reference Laboratories and Home Care

Coronavirus Test Kits Market Regional Analysis/Insights

The coronavirus test kits market is analysed and market size insights and trends are provided by country, test type, sample type and end-user as referenced above.

The countries covered in the coronavirus test kits market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America was the second-largest market with faster product approvals, launches, and better distribution of home test kits.

Asia-Pacific is dominating the coronavirus test kits market as it holds the largest market share in the global coronavirus test kits. The first outbreak in China in November 2019 is one of the key factors for increased market demand for the test kit.   

The country section of the report also provides individual market impacting factors and domestic regulation changes that impact the market's current and future trends. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Coronavirus Test Kits Market Share Analysis

The coronavirus test kits market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to coronavirus test kits market.

Some of the major players operating in the coronavirus test kits market are:

  • Qiagen (Germany)
  • F.Hoffmann-La Roche Ltd (Switzerland)
  • Seegene Inc (South Korea)
  • SolGent Co. Ltd (South Korea)
  • Curetis (Germany)
  • KURBO INDUSTRIES LTD. (Japan)
  • Devex (U.S.)
  • Thermo Fisher Scientific Inc (U.S.)
  • Mylab Discovery Solutions Pvt. Ltd (India)
  • Abbott (U.S.)
  • Getein Biotech, Inc (China)
  • Biomaxima SA (Poland)
  • CTK Biotech, Inc (U.S.)
  • CDC (U.S.)
  • BGI (China)
  • Luminex Corporation (U.S.)
  • Avellino.com (U.S.)
  • PerkinElmer Inc (U.S.)


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Frequently Asked Questions

The coronavirus test kits market value is expected USD 37.38 billion by 2029.
The Coronavirus Test Kits Market is to grow at a CAGR of 19.80% during the forecast by 2029.
The significant factors flourishing the growth of the Coronavirus Test Kits Market are Need for test kits in hospitals, and Technological Advancements in COVID-19 Rapid Testing.
The major players operating in the Coronavirus Test Kits Market are Qiagen (Germany), F.Hoffmann-La Roche Ltd (Switzerland), Seegene Inc (South Korea), SolGent Co. Ltd (South Korea), Curetis (Germany), KURBO INDUSTRIES LTD. (Japan), Devex (U.S.), Thermo Fisher Scientific Inc (U.S.), Mylab Discovery Solutions Pvt. Ltd (India), Abbott (U.S.), Getein Biotech, Inc (China), Biomaxima SA (Poland), CTK Biotech, Inc (U.S.), CDC (U.S.), BGI (China), Luminex Corporation (U.S.), Avellino.com (U.S.), PerkinElmer Inc (U.S.).