COVID-19 Detection Kits Market Size o witness substantial growth during 2020-2026
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.
As per the advice of health authorities, molecular based tests are generally performed 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.
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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.
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.
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.
Global COVID-19 detection kits Market, By Product Analysis (Revenue, USD Million, 2020-2026)
• RT-PCR assay kits
• Immunoassay test strips/cassettes
Global COVID-19 detection kits Market, By Specimen Type (Revenue, USD Million, 2020-2026)
• Nasopharyngeal swab
• Nasal swab
COVID-19 detection kits Market by Competitive Landscape (Revenue, USD Million, 2020-2026)
• Abbott Laboratories
• BioFire Diagnostics
• Co-Diagnostics, Inc
• F. Hoffmann-La Roche AG
• GenMark Diagnostics
• Guangzhou Wondfo Biotech Co., Ltd
• Mylab Discovery Solutions Pvt Ltd.
• Quidel Corporation
• Randox Laboratories Ltd.
• SD Biosensor, INC.
• Seegene Inc.
• Shenzhen Bioeasy Biotechnology Co., Ltd.
• Thermo Fisher Scientific
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Table of Content:
Chapter 1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
188.8.131.52. Paid sources
184.108.40.206. Unpaid sources
Chapter 2. Executive Summary
2.1. COVID-19 detection kits industry 360 degree synopsis, 2020 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Specimen type trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. COVID-19 Detection Kits Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2020 - 2026
3.3. Industry impact forces
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By specimen type
3.4.3. By end-use
3.5. COVID-19 detection kits - pricing analysis, 2020
Chapter 4 COVID-19 detection kits Market, By Product
4.1. Key segment trends
4.2. RT-PCR assay kits
4.2.1. RT-PCR assay kits market, by region, 2020 - 2026 (USD Million)
4.2.2. RT-PCR assay kits market, by region, 2020 - 2026 (Units)
4.3. Immunoassay test strips/cassettes
4.3.1. Immunoassay test strips/cassettes market, by region, 2020 - 2026 (USD Million)
4.3.2. Immunoassay test strips/cassettes market, by region, 2020 - 2026 (Units)
Chapter 5. COVID-19 detection kits Market, By Specimen Type
5.1. Key segment trends
5.2. Nasopharyngeal swab
5.2.1. Nasopharyngeal swab market, by region, 2020 - 2026 (USD Million)
5.3. Oropharyngeal swab
5.3.1. Oropharyngeal swab market, by region, 2020 - 2026 (USD Million)
5.4. Nasal swab
5.4.1. Nasal swab market, by region, 2020 - 2026 (USD Million)
5.5.1. Others market, by region, 2020 - 2026 (USD Million)
Chapter 6. COVID-19 detection kits Market, By End-use
6.1. Key segment trends
6.2.1. Hospitals market, by region, 2020 - 2026 (USD Million)
6.3. Diagnostic centers
6.3.1. Diagnostic centers market, by region, 2020 - 2026 (USD Million)
6.4.1. Others market, by region, 2020 - 2026 (USD Million)
Chapter 7. COVID-19 detection kits Market, By Region
North America COVID-19 Detection Kits Market Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026
North America COVID-19 Detection Kits Market value is set to exceed USD 1.7 billion by 2026, as per new research report. The rising number of coronavirus positive cases will serve to a key impact rendering factor for North America COVID-19 detection kits market growth over the forecast period. After China and Italy, U.S. rapidly climbed the ladder to become the epicentre of global COVID-19 pandemic, with the highest number of COVID-19 positive cases. With the rapidly spreading COVID-19 disease throughout the continent, the demand for COVID-19 detection kits is expected to witness robust growth over the forecast timeframe.
Asia Pacific COVID-19 Detection Kits Market Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026
Asia Pacific COVID-19 Detection Kits Market value is set to exceed USD 1.8 billion by 2026, as per new research report. The COVID-19 pandemic is potentially reshaping countries across the globe. The count of positive cases in Asia Pacific countries are seeing a robust growth. Asia Pacific region, COVID-19 detection kits industry in China is anticipated to grow at around 25% CAGR during the foreseeable years. Rapidly increasing cases of COVID-19 infection and surging need for critical care and diagnosis throughout the nation are anticipated to drive the demand for the Asia Pacific COVID-19 detection kits market over the analysis timeframe.
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