SEATTLE, May 10, 2021, (MEDGADGET) — Overview
The SARS-CoV-2 or COVID-19 virus is a highly contagious viral infection that affects the respiratory tract and is spread with direct contact with the infected person or by an indirect contact with the surfaces. COVID-19 has become a global pandemic as the transmission rate of this virus has increased significantly. The booming incidences of this virus around the world has increased the demand of COVID-19 detection kits to perform more tests.
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Rising need of COVID-19 detection kits has encouraged various production organizations such as Co-Diagnostics, BioFire Diagnostic, and Abbott Laboratories to accelerate their manufacture. In May 2020, Abbott Laboratories had announced that the company is initiating the production of COVID-19 tests. The company added that it will be producing around 50,000 ID NOW tests in a single day and accelerate the production capacity to 2 million tests in a month by June, 2020. Others plans of the company include the enhancement of its anti-body testing with 20 million tests by June, 2020. Therefore, this high volume of COVID-19 tests is expected to propel growth of the global COVID-19 detection kits market over the forecast period.
Over the forecast period (2020-2027), the global COVID-19 detection kits market is expected to manifest a CAGR of 17.3% and is projected to have a market valuation of US$ 3.30 billion in 2020.
Drivers
The outbreak of SARS-CoV-2 virus is expected to boost growth of the global COVID-19 detection kits market over the forecast period.
The increased demand for advanced diagnostic test kits due to rising incidences of contagious diseases, is expected to fuel growth of the global COVID-19 detection kits market during the forecast period. The most recent outbreak, COVID-19 epidemic was initially reported in December, 2019 at the Wuhan City, China. On March 11, 2020, the World Health Organization (WHO) had declared it as a global pandemic. As per WHO, in May 2020, around 3,517,345 infections of COVID-19 virus were reported globally.
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Due to outbreak of COVID-19 virus, the demand for COVID-19 detection kits has increased which is expected to boost growth of the global COVID-19 detection kits market over the forecast period. In March 2020, F. Hoffmann-La Roche AG had transported around 400,000 cobas COVID-19 test kits to several laboratories and hospitals across the U.S. The company intends to deliver another 400,000 test kits every week to laboratory testing outlets all over the U.S.
Restraint
Recall of dispatched products due to issues associated with its quality, is expected to hamper growth of the global COVID-19 detection kits market over the forecast period. In April 2020, the UW Medicine has informed the Washington State Department of Health that the dispatched lot of COVID-19 sample collection kits might have some quality concerns. This results in recalling of around 12,000 kits by the Washington State Department of Health which were dispatched to domestic health jurisdictions, tribal countries and some state agency partners across the U.S.
Key Players
Key companies contributing in the global COVID-19 detection kits market include BioFire Diagnostics, Quidel Corporation, Abbott Laboratories, SD Biosensor, INC., BGI, Seegene Inc,Cepheid Inc., Qiagen, Siemens Healthineers AG, Thermo Fisher Scientific, Shenzhen Bioeasy Biotechnology Co., Ltd., Randox Laboratories Ltd., GenMark Diagnostics, Co-Diagnostics, Inc, and F. Hoffmann-La Roche AG.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Specimen Type
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New Specimen Type Approvals/Launch
- Promotion and Marketing Initiatives
- PEST Analysis
- Global COVID-19 Detection Kits Market, By Product Type, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- RT-PCR Assay Kits
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Immunoassay Test Strips/Cassettes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global COVID-19 Detection Kits Market, By Specimen Type, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Nasopharyngeal swab
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Oropharyngeal swab
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Nasal swab
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Sputum
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global COVID-19 Detection Kits Market, By End User, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Diagnostic centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global COVID-19 Detection Kits Market, By Region, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2027
- North America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis
- Analyst Views
- Section
- References
- Research Methodology
- About Us and Sales Contact
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