COVID-19 Detection Kits Market Segment Analysis On The Basis Of Product, Sample Type, Mode, End-Use, Region And Forecast


 San Francisco, 6 Sep 2024: The Report COVID-19 Detection Kits Market Size, Share & Trends Analysis Report By Product (RT-PCR Assay Kits), By Sample Type (Nasopharyngeal), By Mode (Centralized Testing), By End-use (Laboratories), By Region, And Segment Forecasts, 2024 - 2030

The global COVID-19 detection kits market size is expected to reach USD 4.06 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to register a -4.6% CAGR over the forecast period. The COVID-19 pandemic has posed several challenges to the global healthcare systems. The diagnostics area is recognized as one of the primary elements of efforts to contain the spread and circumvent its adverse impact globally. As a result, companies are ramping up their production process to meet the demand or kits and reagents as well as at-home tests, thereby driving the market revenue.

Constantly increasing demand for rapid diagnostic tests that can deliver results in less time coupled with a shortage of testing materials has triggered the development of antibody and antigen test kits. For instance, in August 2020, Abbott Laboratories secured approval for a COVID-19 portable antigen test that can deliver results in 15 minutes.

Despite the time and cost-related challenges, molecular assay remains the key detection method owing to high sensitivity and specificity. As a result, the kits for RT-PCR based molecular assay are witnessing a huge rise in demand across the globe. The continuous growth in the shipping of the molecular test kit depicts the high demand for these kits. For instance, in May 2020, Siemens Healthineers announced its plans to ship more than 2.5 million molecular PCR test kits per month.

Access Research Report of COVID-19 Detection Kits Market @ https://www.grandviewresearch.com/industry-analysis/covid-19-detection-kits-market

COVID-19 Detection Kits Market Report Highlights

  • RT-PCR assay kits are estimated to account for the major revenue share owing to the high usage rate of PCR testing. High reliability of test results is the key contributing factor of high adoption of RT-PCR assays across the globe
  • Nasopharyngeal (NP) swabs are estimated to capture maximum revenue share owing to the dependence of RT-PCR assays on NP swabs. Healthcare institutes and testing service providers have collaborated with market participants for the supply of NP swabs to test patients at a large scale
  • Centralized testing (Non-PoC) is currently the key mode of testing and thus it is anticipated to maintain its dominance through 2020. Through this mode, healthcare professionals can process a massive number of samples with great efficiency and a high level of automation, thereby driving the segment growth
  • In the current market, laboratories is the key revenue-generating end-user segment with a high number of a testing process taking place within laboratory settings
  • With a high number of cases and testing, Asia Pacific is anticipated to maintain its dominance throughout the forecast period. Asian countries are focusing on rapid antigen testing as a cost-effective strategy to contain the spread, resulting in the revenue growth of this region

COVID-19 Detection Kits Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 5.4 billion

Revenue forecast in 2030

USD 4.06 billion

Growth rate

CAGR of -4.6% from 2024 to 2030

Actual data

2020 - 2023

Forecast period

2024 - 2030

List of Key Players in COVID-19 Detection Kits Market

  • Hoffmann-La Roche AG
  • Perkin Elmer, Inc.
  • Thermo Fisher Scientific, Inc.
  • Veredus Laboratories
  • DiaSorin
  • altona Diagnostics GmbH
  • Mylab Discovery Solutions Pvt Ltd.
  • Abbott
  • Luminex Corporation
  • Quidel Corporation

Access Press Release of COVID-19 Detection Kits Market @ https://www.grandviewresearch.com/press-release/global-covid-19-detection-kits-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

 

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