COVID-19 RAPID DIAGNOSTIC TEST MARKET ANALYSIS

COVID-19 Rapid Diagnostic Test Market, by Product Type (Instruments and Reagents and Kits), by Sample Type (Nasopharyngeal Swabs, Oropharyngeal Swabs, Nasal Swabs, and Blood), by Test Type (Molecular testing, Antigen based testing, Antibody testing, and Others including CRISPR and Biosensors), by End Users (Hospitals and Clinics, Laboratories, and Diagnostic Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Dec 2021
Code : CMI4568
Pages :190
Formats :
Excel and PDF
Industry : Biotechnology

Market Challenges And Opportunities

Recalls of COVID-19 rapid diagnostic test kits
Lack of skilled healthcare professionals
Less efficacy of rapid COVID-19 diagnostic tests as compared to laboratory setting

Global COVID-19 Rapid Diagnostic Test Market: Restraint

Product recalls, lack of skilled healthcare professionals, and less efficacy of rapid COVID-19 diagnostic tests as compared to laboratory setting are the factors that are expected to hinder growth of the global COVID-19 rapid diagnostic test market over the forecast period. For instance, in May 2020, India recalled rapid-antibody COVID-19 testing kits from two Chinese in-vitro diagnostics companies, namely Guangzhou Wondfo Biotech Co. and Zhuhai Livzon Diagnostics, Inc. due to low accuracy and inconsistent results delivered by the COVID-19 test kits.

Moreover, on October 1, 2021, Ellume Limited, an Australia-based digital diagnostics company, issued a recall of approximately 427,000 of its COVID-19 home tests. In total, approximately 42,000 affected tests were used and produced false positive results.