COVID-19 detection kits can identify the SARS-CoV-2 or coronavirus through two methods. The first method is the RT-PCR method in which the presence of the virus itself is detected and the second is an immunoassay test which detects antibodies produced in response to the infection. In order to prevent further spread of the virus, governments and regulatory authorities all over the world are focusing on conducting maximum number of COVID-19 detection tests which has led to a high demand for COVID-19 detection kits globally. For instance, on April 04, 2020, the Department of Health and Social Care, UK, reported that National Health Service has conducted around 200,000 tests so far and has also scaled up the testing capacity from 5,000 to 10,000 tests per day in the U.K. According to the same source, the National Health Service is planning to increase the capacity to nearly 25,000 swab tests per day by the end of April in the U.K. Hence, the increasing demand for COVID-19 detection is expected to boost the market growth during the forecast period.
Market Dynamics
The increasing adoption of inorganic growth strategies such as partnerships and collaborations by key players to increase the production of COVID-19 tests is expected to propel the market growth during the forecast period. For instance, on April 14, 2020, Co-Diagnostics, Inc., a molecular diagnostics company, collaborated with Promega Corporation, a provider of molecular diagnostic components, to amplify the production of Logix Smart COVID-19 tests. This collaboration will allow Co-Diagnostics, Inc. to meet the demand for COVID-19 tests and strengthen its presence in the U.S.
Similarly, on April 29, 2020, Centene Corporation collaborated with Quest Diagnostics, provider of diagnostic information services to increase availability of real-time reverse transcription polymerase chain reaction (rRT-PCR) COVID-19 testing in the U.S. Through this collaboration, Centene will distribute around 25,000 Quest COVID-19 test kits every week to Federally Qualified Health Centers (FQHCs) in ten states or districts across the U.S.
Key features of the study:
- This report provides in-depth analysis of the global COVID-19 detection kits market and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2020–2027), considering 2019 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new drug launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global COVID-19 detection kits market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
- Key companies covered as a part of this study are Co-Diagnostics, Inc F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific, Abbott Laboratories, BGI, Cepheid Inc, BioFire Diagnostics, GenMark Diagnostics, Qiagen, Quidel Corporation, Randox Laboratories Ltd., SD Biosensor, INC., Shenzhen Bioeasy Biotechnology Co., Ltd., and Seegene Inc.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future drug launches, Specimen Type up-gradation, market expansion, and marketing tactics
- The global COVID-19 detection kits market report caters to various stakeholders in this industry including investors, suppliers, drug manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global COVID-19 detection kits market
Detailed Segmentation:
- Global COVID-19 detection kits Market, By Product Type:
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- Global COVID-19 detection kits Market, By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- Global COVID-19 detection kits Market, By End User:
- Hospitals
- Diagnostic centers
- Others
- Global COVID-19 detection kits Market, By Region:
- North America
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country:
- Latin America
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type
- RT-PCR Assay Kits
- Immunoassay Test Strips/Cassettes
- By Specimen Type:
- Nasopharyngeal swab
- Oropharyngeal swab
- Nasal swab
- Sputum
- Others
- By End User:
- Hospitals
- Diagnostic centers
- Others
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Co-Diagnostics, Inc*
- Company Overview
- Material Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- Hoffmann-La Roche AG
- Siemens Healthineers AG
- Thermo Fisher Scientific
- Abbott Laboratories
- BGI
- Cepheid Inc
- BioFire Diagnostics
- GenMark Diagnostics
- Qiagen
- Quidel Corporation
- Randox Laboratories Ltd.
- SD Biosensor, INC.
- Shenzhen Bioeasy Biotechnology Co., Ltd.
- Seegene Inc.
“*” marked represents similar segmentation in other categories in the respective section.
