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What's driving the COVID-19 Detection Kits Market Size? Abbott Laboratories, BGI, Cepheid, Co-Diagnostics, Inc, Hoffmann-La Roche AG, GenMark Diagnostics, Guangzhou Wondfo Biotech Co., Ltd, Qiagen, Quidel Corporation, Randox Laboratories Ltd, SD Biosensor

05-13-2020 01:35 PM CET | Health & Medicine

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What's driving the COVID-19 Detection Kits Market Size? Abbott

Selbyville, Delaware This Global COVID-19 Detection Kits report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

To test the infection with SARS-CoV-2 there are two important ways. The first way is a sensitive one which looks for the RNA of the virus by using a technique namely RT-PCR. This product is useful in detecting a small virus particle in swabs which is taken from inside of nose or mouth. The second type of test usually measures the response of antibody to virus in blood serum..

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Abbott Laboratories, BGI, Cepheid, Co-Diagnostics, Inc, Hoffmann-La Roche AG, GenMark Diagnostics, Guangzhou Wondfo Biotech Co., Ltd, Qiagen, Quidel Corporation, Randox Laboratories Ltd, SD Biosensor, INC, Seegene Inc

The COVID-19 detection kits market is slated to witness immense growth owing to the rising incidences of coronavirus infections, which is creating a substantial need for rapid testing. Give the reports of incubation period, which is of 14 days for the COVID-19, the chances of transmission of virus among people proves hard to contain, even before the symptoms are shown.

COVID-19 detection kits market is bifurcated in terms of product, specimen type, end-use, and regional landscape.

With respect to product, the market is classified into immunoassay test strips/cassettes and RT-PCR assay kits. Immunoassay test strips/cassettes segment is slated to exhibit around 14% CAGR between 2020 and 2026, owing to the growing cases of COVID-19 and need for rapid testing.

These products are based on the principles that certain antigens will encourage very unique immune responses and that the proteins called antibodies which are produced by the immune response can further be used to signal the occurrence of a target compound in a sample.

Based on specimen type, the market is categorized into oropharyngeal swab, nasopharyngeal swab, nasal swab, and others. Oropharyngeal swab segment holds around 28% market share in 2020, owing to wide availability of test swabs. These are used for throat specimen, wherein specimen is collected by swabbing out the posterior pharynx and tonsillar area of patient.

With respect to end-use, the market is segmented into diagnostic centers, hospitals, and others. Among these, the hospitals segment will witness around 15% CAGR between 2020 to 2026, owing to the availability of advance facilities for diagnosis.
From a regional frame of reference, the Latin America COVID-19 detection kits market registered a market value of around $71 million in 2020, attributable to the rising COVID-19 incidences in Brazil and Mexico.

As per the advice of health authorities, molecular based tests are generally per
formed if an individual is showing symptoms of COVID-19 or has arrived from a high-risk country. Rapid test kit for COVID-19 is a lateral flow of immunochromatographic assay for detecting IgG and IgM antibodies to SARS-CoV-2 in human whole blood, plasma, or serum samples.

It is meant to be used as a tool in assisting the diagnosis of SARS-CoV-2 infections. It is also used as a tool for carrying out investigations that are serological epidemiological in nature.

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