COVID-19 Test Kit Market Forecast and Trends
The global covid-19 test kit
market is expected to grow with a significant CAGR during the forecast period
due to rapid increase in the number of patients effected by corona virus across
the globe. According to World Health Organization(WHO) as of 25th March 2020,
375,498 confirmed cases of corona virus were recorded, and 16,362 people died
due to it across the globe. People throughout the globe continue to face the
shortage of testing kits for the novel coronavirus (COVID-19) amid the rising
number of those infected is the major growth factor for the global COVID-19 kit
during the forecast period. With only a few locations to perform tests for the
whole country, there is limited capacity.
Regulations meant to
maintain the integrity of the samples, and to protect those who are handling
the transportation and packaging may also delay transport. There are terms on
how the samples must be packed within the container. Specimens should remain
within a narrow temperature range at 2-8 degrees Celsius when shipped. These
factor is driving the market to develop a cost and time efficient COVID-19 kit.
And furthermore shortage of
corona virus test related supplies like virus control samples, swabs, and
RT-PCR instruments for controlling the corona virus projected to influence the
global COVID-19 test kit industry.
COVID-19 Test Kit Market: Overview
COVID-19 refers to the
coronavirus disease, which is a virus strain, first identified in Wuhan, Hubei
Province, China, and has only spread across the world since December 2019.
Coronavirus disease (COVID-19) causes respiratory illness that can spread from
person to person. The virus that causes COVID-19 probably originated from an
animal source, but it is now spreading from person to person. The virus is
considered to spread primarily between people who are in close contact with one
another (within the range of 6 feet) through respiratory droplets produced when
a corona infected person coughs or sneezes. It is also likely that a person can
get COVID-19 by touching a surface or object that has the virus on it and then
touching their nose, mouth, or possibly their eyes. And to detect these virus
COVID-19 kits plays an important role. Patients with COVID-19 may have moderate
to severe respiratory illness with symptoms of cough, fever, and shortness of
Surge in corona virus
Rise in the number of
infected patients and increasing death ratio due to COVID-19 is the major
growth driver for the global COVID-19 kit market across the globe. With
countries announcing complete shutdown despite economic losses to stop the
spread of corona virus. With scientist around the world working hard to develop
advanced COVID-19 kit to detect corona virus easily is expected to propel the
Due to corona virus it has
been advised by health authorities to wash regularly. While using COVID-19 Test
Kit is a quick way to slow and prevent the spread of viruses. Warning over
coronavirus has created a shortage of COVID-19 Test Kits. It is the major growth
driver for the global COVID-19 Test Kit market.
Lack of COVID-19 kit
As the corona virus is newly
discovered illness, due to which there is lack of kits across the globe.
Different companies are trying to develop cost-effective and time efficient COVID-19
across the globe as the number of corona virus infected illness continues to
grow. These factor is expected to drive the global COVID-19 market during the
Increase in demand for the
COVID-19 Test Kit due to recent outbreak of corona virus the availability of
counterfeit products has also increased. COVID-19 Test Kit is used to detect
whether a person is infected with corona virus or not. As number of corona
patients are increasing, small scale companies in developing and under
developed companies are using counterfeit kits detect corona patients to get
COVID-19 Test Kit Market: Type
Based on type, the global
COVID-19 Testing Kit market segmented into Equipment and Extraction Kits, rRT-PCR
Test Kits, and Reagents9. The rRT-PCR Test Kits segment expected to gain a
major share in the market during the forecast period, due to the growing demand
for a test kit that can detects the virus that causes COVID-19 in respiratory
COVID-19 Test Kit Market: Application
Based on the application,
the global COVID-19 Testing Kit market segmented into Detecting Virus,
Monitoring, and Others. The Detection segment expected to dominate due to
benefits such as it detects the early stage of the disease with a viral load.
It recognizes main respiratory symptoms, including the patient’s nose and
COVID-19 Test Kit Market: End-User
Based on end-user, the
global COVID-19 Testing Kit market segmented into Hospitals, Clinics, Pharmacy
stores, Pathology centers, and Others. Hospitals segment expected to gain
maximum revenue due to the massive demand for COVID-19 Testing Kit in
hospitals. for early detection of
patients and requirements for daily basis monitoring for quarantine patients in
hospital. The pharmacy store segment is also expected to grow due to rise in
demand for the COVID-19 testing kit by people for testing.
COVID-19 Test Kit Market: Regional Insights
Based on region, the global
COVID-19 Testing Kit market segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America region is expected
generate high revenue in the global COVID-19 Kit market during the forecast
period. As leading health companies are working together to develop COVID-19
kit, with increase in number of infected patient.
Asia-Pacific is estimated to
grow at high CAGR during the forecast period due to high number of COVID-19
infected patients in china, and also to check and monitor to people in India
and other Asia-Pacific countries.
The leading companies of
COVID-19 Test Kit Market are Cepheid Inc., AlphaBiolabs Ltd, Thermo Fisher
Scientific, Cosara Diagnostics Pvt Ltd, Abbott Laboratories, Primerdesign Ltd,
Hologic, Inc., Roche Holding AG, Quidel Corporation, and QIAGEN are the key
players in the Global COVID-19 Testing Kit Market. and other prominent players.
March, 2020: Cepheid
announced it has received Emergency Use Authorization (EUA) from the U.S. Food
& Drug Administration (FDA) for Xpert® Xpress SARS-CoV-2, a rapid molecular
diagnostic test for qualitative detection of SARS-CoV-2, the virus causing
COVID-19. The test has been designed to operate on any of Cepheid's more than
23,000 automated GeneXpert® Systems worldwide, with a detection time of
approximately 45 minutes.
March, 2020: Abbott
announced that the U.S. Food and Drug Administration has issued Emergency Use
Authorization (EUA) for the company's molecular test for novel coronavirus
(COVID-19). Abbott is immediately shipping 150,000 Abbott RealTime SARS-CoV-2
EUA tests to existing customers in the U.S. The tests are used on the company's
m2000™ RealTime System. Abbott will be working with health systems and
government authorities to deploy additional m2000 systems where they are
of the Report
Estimated Year – 2020
Forecast – 2021 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico,
Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
application, end-user with Region
Inc., AlphaBiolabs Ltd, Thermo Fisher Scientific, Cosara Diagnostics Pvt Ltd,
Abbott Laboratories, Primerdesign Ltd, Hologic, Inc., Roche Holding AG,
Quidel Corporation, and QIAGEN are the key players in the Global COVID-19
Testing Kit Market. and other prominent players.
Equipment and Extraction Kits
rRT-PCR Test Kits
Middle East & Africa
objective of the Study:
To analyze and forecast the
global COVID-19 Test Kit Market size of the market in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms of value, based on
the region by segmenting.
The Global COVID-19 Test Kit
Market segmented into five regions, namely, North America, Europe, Asia
Pacific, Latin America, Middle East & Africa and their leading countries.
To outline, categorized, and
forecast the global COVID-19 Test Kit Market based on the type, application,
To examine competitive
developments like technological advancement, services, and regulative framework
within the global COVID-19 Test Kit Market.
To highlight the impact
analysis of the factors affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.