Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.