Press release
The COVID-19 Testing Kits Market was valued at USD 2,810.90million in 2019 and is expected to grow with a CAGR of 17.4% during the forecast study period.
COVID-19 Testing Kits Market
The coronavirus outbreak has compelled the governments, healthcare providers, and manufacturers to develop effective COVID-19 detection kits. Recently, SD Biosensor, South Korea’s diagnostic kit manufacturing firm, initiated manufacturing rapid antibody test kits in Gurugram, Haryana, which has the potential to produce COVID-19 test results in 15 minutes. Similarly, in April, OraSure Technologies, a medical technology firm in Bethlehem, Pa., was funded a USD 710,310 federal contract for an in-home assay test to detect coronavirus antigen in saliva within 20 minutes.
Globally, around 44 countries have recorded a recovery rate of more than 60%, and nearly 24.6million tests have been performed, further driving the demand for effective test kits. The U.S., U.K., Turkey, and Russia have less than 20% recovery rate. India's testing ratio is among the world's lowest at around 400 tests per million people. The country is expected to ramp up testing to 100,000 per day, at least for the next month.
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The Major Manufacturers Covered in this Report:
Abbott Laboratories
BGI
BioFire Diagnostics
Cepheid, F
Hoffmann-La Roche
GenMark Diagnostics
Guangzhou Wondfo Biotech
Mylab Discovery Solutions
Qiagen
Quidel Corporation
Randox Laboratories
SD Biosensor
Seegene
Shenzhen Bioeasy Biotechnology
Thermo Fisher Scientific
and more...
Years that have been considered for the study of this report are as follows:
History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2021 to 2029
Market Segmentation:
By Product
RT-PCR assay kits
Immunoassay test strips/cassettes
By Specimen Type
Nasopharyngeal swab
Oropharyngeal swab
Nasal swab
By End-User
Hospitals
Diagnostic centers
Regional Segmentation:
North America (The US, Canada, and Mexico)
Europe (Germany, France, the UK, and Rest of the World)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America.)
Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)
Additionally, the analysis also delivers a comprehensive review of the crucial players on the COVID-19 Testing Kits Market along with their company profiles, SWOT analysis, latest advancement and business plans.
The analysis objectives of the report are:
To equitably share in-depth info regarding the crucial elements impacting the increase of industry (growth capacity, chances, drivers and industry specific challenge and risks).
To know the COVID-19 Testing Kits Market by pinpointing its many sub segments.
To profile the important players and analyze their growth plans.
To endeavor the amount and value of the COVID-19 Testing Kits Market sub-markets, depending on key regions (various vital states).
To analyze the Global COVID-19 Testing Kits Market concerning growth trends, prospects and also their participation in the entire sector.
To examine and study the Global COVID-19 Testing Kits Market size (volume and value) form the company, essential regions/countries, products and applications, background information and also predictions.
Primary worldwide Global COVID-19 Testing Kits Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis and development plans for the next coming years.
To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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