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A Deep Dive into COVID-19 Saliva Screening Test Potential Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
COVID-19 Saliva Screening Test Potential Market Outlook
Over the past few years, there has been a significant expansion in the potential market size for the COVID-19 saliva screening test. It is forecasted to escalate from $3.9 billion in 2024 to $4.29 billion in 2025, signifying a compound annual growth rate (CAGR) of 9.9%. The increase during the historic period can be credited to factors such as the feasibility of home testing, an extraordinary demand for diagnostic examinations, heightened public consciousness, and the financial contributions made towards research and development.
The prospective market size for the COVID-19 saliva screening test is predicted to see robust expansion in the coming years, ballooning to $6.17 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 9.5%. The expansion during the forecast period is likely due to factors such as unification with screening programs, regulatory backing, soaring demand for swift on-site COVID-19 examinations, growing population, and the surging e-commerce industry. Notable trends for the forecasted period include its growing use in non-medical environments, amalgamation with digital health systems, the advent of breakthrough technologies, technological progress, and strategic collaborations.
What Are the Main Catalysts for Growth in the COVID-19 Saliva Screening Test Potential Market?
The growth of the COVID-19 saliva screening test potential market is anticipated to be fuelled by the escalating health care expenditure. Health care expenditure encompasses the total expenditure on health-related services and goods, such as doctor consultations, hospital stays, prescription medication, medical apparatus, and public health initiatives. Factors such as the application of innovative diagnostic utilities, minimally invasive surgeries, the rise in research and development for novel drugs, usage of healthcare facilities, and specialist medications are leading to an increase in healthcare expenditure. Elevated healthcare expenditure can equip adequate resources and assistance to capitalize on the full potential of COVID-19 saliva screening tests, resulting in improved public health outcomes and efficient pandemic control. For instance, in 2022, the Office for National Statistics, a UK-based national statistics organization focusing on epilepsy, reported that the UK's healthcare spending reached an estimated $354.88 billion (£283 billion), indicating a nominal rise of 0.7% compared to the expenditure in 2021. Thus, the surging healthcare expenditure is bolstering the growth of the COVID-19 saliva screening test potential market.
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Which Key Market Leaders Are Driving COVID-19 Saliva Screening Test Potential Industry Growth?
Major companies operating in the COVID-19 saliva screening test potential market are Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Becton Dickinson and Company, Danaher Corporation, University of North Carolina at Chapel Hill, Hologic Inc., Beaumont Health, PerkinElmer Inc., Quidel Corporation, University of Illinois at Urbana-Champaign, Cepheid, Seegene Inc., ARUP Laboratories, Vatic Health Limited, Ambry Genetics Corporation, LumiraDx Ltd., Yale School of Public Health, Gravity Diagnostics, Psomagen Inc., Fluidigm Corporation, Phosphorus Diagnostics LLC, DxTerity Diagnostics Inc., University of Notre Dame, MOgene, FLuroTech Ltd.
What Are the Emerging Trends in the COVID-19 Saliva Screening Test Potential Industry?
Key enterprises in the potential market for COVID-19 saliva screening tests are prioritizing the development of breakthrough technologies, specifically data-sharing platforms. These platforms aim to bolster real-time interaction and cooperation between healthcare providers, labs, and public health authorities, thus optimizing the effectiveness and precision of pandemic testing, tracking, and response mechanisms. Data-sharing platforms are digital systems that support secure data interchange among various stakeholders such as healthcare providers, researchers, and organizations, thereby fostering collaboration and information accessibility to enhance decision-making capabilities, productivity, and results across various sectors. For instance, Mount Sinai Health System, a healthcare network based in the US, unveiled the Center for Healthcare Readiness in May 2024. The Center's primary objective is to refine approaches for public health emergency responses, guaranteeing that healthcare systems are well-equipped to manage large-scale crises such as pandemics or natural disasters. It aspires to boost the capacities of the Mount Sinai Health System and to collaborate with local, regional, and federal partners to devise comprehensive preparedness plans.
What Are the Main Segments in the COVID-19 Saliva Screening Test Potential Market?
The COVID-19 saliva screening test potential market covered in this report is segmented -
1) By Location: Travel Stations, Sports Arenas, Entertainment Venues, Corporate Campus Environments, Universities And Colleges, Factories, Other Locations
2) By Technology: Fluorescence-Labelled Antigen, RT-PCR, CRISPR-Cas9
3) By Mode Of Testing: Centralized Testing, Decentralized Testing
Subsegments:
1) By Travel Stations: Airports, Train Stations, Bus Stations, Seaports
2) By Sports Arenas: Stadiums, Arenas, Event Halls
3) By Entertainment Venues: Theaters, Concert Halls, Amusement Parks, Nightclubs
4) By Corporate Campus Environments: Offices, Corporate Campuses, Business Parks
5) By Universities And Colleges: Higher Education Campuses, Research Institutions, Student Housing Areas
6) By Factories: Manufacturing Plants, Production Facilities, Industrial Sites
7) By Other Locations: Healthcare Facilities, Government Buildings, Public Transportation Hubs, Shopping Centers, Other Public Or Private Venues
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Which Geographic Area Leads the COVID-19 Saliva Screening Test Potential Market?
North America was the largest region in the COVID-19 saliva screening test potential market in 2023. The regions covered in the COVID-19 saliva screening test potential market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The COVID-19 Saliva Screening Test Potential Global Market Report?
- Market Size Analysis: Analyze the COVID-19 Saliva Screening Test Potential Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the COVID-19 Saliva Screening Test Potential Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall COVID-19 Saliva Screening Test Potential Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the COVID-19 Saliva Screening Test Potential Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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