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COVID-19! We are now including the impact analysis of the COVID-19 on COVID-19 Testing Kits Market report and the forecast period of this report shall be revised to 2020-2026. The section on the impact of COVID-19 on this market is included in the report for free. To know more Request a Sample of this report.

COVID-19 Testing Kits Market (Product - RT-PCR Assay Kits, and Immunoassay Test Strips; Specimen Type - Upper Respiratory Tract Specimens, Lower Respiratory Tract Specimens, and Sputum Specimens; End-user - Hospitals, Diagnostic Centers, and Research Centers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : May, 2020

  • Rep Id : HC0852

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on COVID-19 testing kits market provides in-depth analysis of segments and sub-segments in the global as well as regional COVID-19 testing kits market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional COVID-19 testing kits market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global COVID-19 testing kits market. According to the report, the global COVID-19 testing kits market is projected to grow at a robust growth rate over the short term, however, the market will experience a sluggish CAGR over the forecast period of 2020-2026.

 

Market Insight

COVID-19 testing kits are one of the most important tools to slow and reduce the spread and impact of the coronavirus. The SARS-CoV-2 RNA is detectable in lower respiratory tract fluids such as bronchoalveolar lavage, sputum, tracheal aspirate and upper respiratory tract fluids such as nasopharyngeal and oropharyngeal swabs during the acute phase of infection. The Coronavirus Disease 2019 (COVID-19) test kits are available as RT-PCRAssay Kits and Immunoassay Test Strips/Cassettes. Currently, testing kits are in high demand as it is the only way to understand the spread of the pandemic.

 

As the number of patients infected by COVID-19 is increasing, countries are engaged in aggressive testing and taking precautionary measures to contain the virus. 211 countries are infected by COVID-19; these countries have cumulatively completed approx. 5.1 Million tests so far or 20% of global volume. Furthermore, the elderly population is at a significantly increased risk of severe disease following infection from COVID-19. Among the top 30 countries with the largest percentage of older people, the countries most affected by the pandemic are among them. Thus, driving the demand for COVID-19 test kits in such countries. Furthermore, growing government funding is also propelling the growth of the market. However, as the spread of COVID-19 slows down, test kit demand is expected to contract over the forecast.  Nonetheless, the growing research and development to increase the efficiency and accuracy of the disease testing will further intensify its adoption over other analytical tests.

 

Among the regions, North America will dominate the global market over the forecast years owing to the rising number of tests for spreading COVID-19 treatment. The U.S. is the world’s most affected country by coronavirus currently, by the number of cases, which has increased the demand for the COVID-19 testing kits in the North America region. However, Europe will hold the second-largest share as seven European countries are among the ten most affected countries with coronavirus. Coronavirus continues to be severe in Italy, making it the most-affected in Europe. Furthermore, as more European countries are witnessing a surge in cases, the demand for coronavirus test kits are expected to intensify in Europe over 2020. Moreover, the outbreak was primarily identified in Wuhan, China which further spread to other countries. Asia Pacific region is expected to grow at an unprecedented rate due to the rising number of countries affected by COVID-19. Asian countries such as India, Japan, South Korea, Singapore, and Malaysia have increased the number of tests to contain the spread of the virus, which will increase the demand for COVID-19 testing kits in the region.

 

Segment Covered

The report on global COVID-19 testing kits market covers segments such as product, specimen type, and end-user. On the basis of product, the sub-markets include RT-PCR assay kits, and immunoassay test strips. On the basis of specimen type, the sub-markets include upper respiratory tract specimens, lower respiratory tract specimens, and sputum specimens. On the basis of end-user, the sub-markets include hospitals, diagnostic centers, and research centers.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Abbott Laboratories, BGI Group, F. Hoffmann-La Roche, SD Biosensor, Inc., Mylab Discovery Solutions, Randox Laboratories, BioFire Diagnostics, LLC, Quidel Corporation, Shenzhen Bioeasy Biotechnology, and Thermo Fisher Scientific Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of COVID-19 testing kits market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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