October 2020
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global rapid antibody tests market bwc20180
Global Rapid Antibody Tests Market overview Market size-
Industry Trends & Forecast Report 2021
Global rapid antibody test kit for COVID-19 market has gained
momentum in recent years, and is estimated to have reached USD 1.64 billion in
2020, and is expected to touch USD 1.72 billion by 2026. On 30 January 2020,
the World Health Organization (WHO) declared the COVID-19 (SARS-CoV-2) outbreak
as a Public Health Emergency of International Concern (PHEIC) and shortly
thereafter called for research on point of care diagnostics for use at the
community level. In response to the growing COVID-19 pandemic and shortages of
laboratory-based molecular testing capacity and reagents, multiple diagnostic
test manufacturers have developed and begun selling rapid and easy-to-use
devices to facilitate testing outside of laboratory settings.
Global Rapid Antibody Test Kit for COVID-19 Market, By
Value (USD Billion)
Source: BlueWeave
Consulting
Global Rapid Antibody Test Kit for COVID-19 Market Overview:
These simple test kits are based either on detection of proteins
from the COVID-19 virus in respiratory samples (e.g. sputum, throat swab) or
detection, in blood or serum, of human antibodies generated in response to
infection. The Rapid Test Kits approved by the US Food and Drug Administration
are not meant for early diagnosis, but only to be used for surveillance and
monitoring trends. The EU Medicine Agency’s guidelines, on par with the US
Centers for Disease Control and Prevention (CDC), require that tests be 80%
accurate on average. The major cause of the increasing patient rate is the high
transmission rate among the population across the globe.
Global Rapid Antibody Test Kit for COVID-19 market overview
Market Forecast and Trends
Growth Drivers
Increases cases of corona infected patients
The confirmed cases of corona infected patients are rising
rapidly across the globe. More cases of Coronavirus disease are being expected
across many regions of the world. Though, constant efforts at the individual,
national, and international levels are being made to fight back against this
pandemic. thus, the growth in the number of patients leads to high demand for
rapid antigen test kits in the market. Rapid Diagnostic Tests (RDTs) are small,
simple to use, stand-alone tests. They can be used by minimally trained staff,
round the clock, and on single samples at the point of treatment, thus
benefitting the whole market.
Rising Government Initiatives
The augmented factors for the growth of the rapid antibody test
kit market include great government support. As the governments of different
regions across the globe are trying their best to provide the facilities for
fast detection of the infection. This would be helping in the prevention of the
diseases from spreading. Hence, more and more rapid test kits are required in
the market. Additionally, government initiatives of spreading awareness among
the people, funding programs, and others have influenced the healthcare
industry.
Restraints
Presence of Counterfeit kits coupled with the inefficient kit in
the market
The European Centre for Disease Prevention and Control (1 April
2020) reports several COVID-19 RDT devices with fraudulent documentation, incomplete
technical files, and unsubstantiated claims, with some of them sold as alleged
self-tests. Many COVID-19 rapid antibody diagnostic test kits are either
inaccurate or fake and have not been approved By US FDA, EU, or Japanese
Regulatory Bodies. As to regulation, "self-testing" is a more
stringent regulated category of IVDs compared to the regular "for
professional use". It is to be expected that in poorly regulated countries
such practices will be more frequent. All these fraudulent activities coupled
with the counterfeit kit in the market hampering the growth of Rapid Antibody
Test kits for Covid -19 by stringent regulation and more policy reforms by
government authorities in upcoming years.
Recent Development
·
Studies indicate that most patients produce an antibody response
only after symptom onset during the second week. This means that COVID-19
infection diagnosis based on antibody response will often only be possible in
the recovery phase when many of the opportunities for therapeutic intervention
or disease transmission disruption have already passed. Antibody detection
studies targeting COVID-19 can also cross-react with other pathogens, including
other human coronaviruses, and result in false positives. Finally, whether RDTs
detecting antibodies could predict whether an individual was resistant to
COVID-19 virus reinfection, was examined.
·
Blood samples were obtained from COVID-19 patients from various
hospitals and from Chinese CDC laboratories to test the detection sensitivity
and specificity of the combined antibody test COVID-19 IgG-IgM. At each site,
the experiments were carried out separately. A total of 525 cases were tested:
397 (positive) clinically confirmed (including the PCR test) patients infected
with SARS-CoV-2 and 128 patients who were not infected with SARS-CoV-2 (128
negatives).
Impact of COVID-19 in industry
The global economy and humanity have been pushed into a crisis
due to the COVID-19 pandemic. Due to the high infection rate and adverse impact
on public health systems, various governments have enforced nationwide
lockdowns significantly impacting manufacturing supply chains, trade, and
related services. Players are currently considering digital solutions that will
enable them to serve the community and provide new opportunities to do
business. The production, manufacturing, supply chain, and other operations,
have slowed down globally aimed to limit the spread of the coronavirus.
On 30 January 2020, the World Health Organization (WHO) declared
the COVID-19 (SARS-CoV-2) outbreak as a Public Health Emergency of
International Concern (PHEIC) and shortly thereafter called for research on
point of care diagnostics for use at the community level. In response to the
growing COVID-19 pandemic and shortages of laboratory-based molecular testing
capacity and reagents, multiple diagnostic test manufacturers have developed
and begun selling rapid and easy-to-use devices to facilitate testing outside
of laboratory settings. So, the whole market is likely to be benefitted from
the market.
Global Rapid Antibody Test Kit for COVID-19 market overview
Market: By Antibody Type
Based on antibody type, the global rapid antibody test kits for
Covid-19 are segmented into IgG and IgM. Amidst the segmentation, IgM is
projected to dominate the global market with high potential. immunoglobulins
are the key detection molecules in the immune system. The (IgM) antibody also
known as the natural antibody is depicted as the µ heavy chain which is the
largest chain. It is also generated as a B cell membrane-bound monomer and a
secreted pentamer. Also, IgM is the first immunoglobulin that is developed
during human fetal development. IgM is also the first antibody that responds
during infection.
Global Rapid Antibody Test Kit for COVID-19 market overview
Market: By End-user
Based on end-user segmentation the global Rapid Antibody Test kits for Covid-19 fragmented into hospitals, Covid-19 Centers, and Clinical Laboratories. Covid-19 centers contribute with a market share of 53% in the global market in 2020. Followed by Covid-19 centers and clinical laboratories, the hospitals segment projected to gain maximum revenue due to the massive demand for COVID-19 Testing Kit in hospitals. The expected market size of the hospital segment in 2026 is USD 0.29 Billion at a CAGR of 1.02% during the forecast period of 2020-2026. As hospitals provide extra care for the patients and with quarantine facility available in hospitals is the main reason for the segment growth.
Global Rapid Antibody Test Kit
for COVID-19 market: Regional Insights
North America is estimated to have held the largest share in the
rapid antibody test kit for the COVID-19 market, in terms of revenue, in 2020.
The increasing number of patients leads to the high demand for the rapid
antibody test in countries like the U.S. and Canada. The Europe region is
expected to generate high revenue in the global COVID-19 Kit market during the
forecast period due to the occurrence of growing cases. As leading health
companies are working together to develop COVID-19 kit, with an increase in the
number of infected patients. The COVID-19 testing kits have become necessary
now, hence the demand will lead to the high growth opportunity for many of the
rapid test kits.
Competitive landscape
Key players for a rapid antibody test kit for the COVID-19
market include- Biomaxima SA, Zhhuhai Livzon Diagnostics Inc, Guangzhou Wondfo
Biotech Co Ltd, RavBiotech Inc, Biolidics Limited,
BioMedomics ltd, SD Biosensors Inc, SD biosensors, Cllex Inc, CTK biotech Inc,
Sugentec Inc, Vayzyme Biotech Co Ltd, Liming Bio-products Co. Ltd, and others.
The market is witnessing major competition amongst companies. Business players
compete based on the given product quality used for the manufacture of a rapid
antibody test kit for COVID-19.
Scope of the Report
Attribute |
Details |
Years Considered |
Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
|
Product/Service Segmentation |
By Antibody Type, By End user |
Key Players |
|
Scope of the
Report
By Antibody Type
Ø IgM
Ø IgG
By End users
Ø Hospitals
Ø COVID 19 Centers
Ø Clinical laboratories
By Region:
Ø Asia Pacific
Ø North America
Ø Europe
Ø Middle East & Africa
Ø Latin America
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
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