COVID Testing Kit Market Overview, Opportunities, Trends and forecast to 2030
COVID Testing Kit Market
COVID Testing Kit Market Share is expected to reach USD 122.82 billion by 2030 at a CAGR of 7.20% during the forecast period 2022-2030,
The COVID Testing Kit Market Research Report has witnessed massive growth in recent times. The market growth is being driven by the developments & support by non-medical device/diagnostic companies, increasing number of emergency use authorizations for diagnostic kits & devices, government & private funds, support for research & development, and a rising number of COVID-19 cases. However, the market growth is anticipated to be restricted by the accuracy of tests and restrictions on the export of diagnostic kits.
COVID Testing Kit Market Overview Analysis by Type (Rapid Test Kit, RT-PCR and others), Application (Hospitals, Clinics and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa).
Major Key Players:
MRFR recognizes the following Key Market Players are — Abbott (US), BioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Chembio Diagnostic Systems, Inc. (US), Danaher Corporation (US), F. Hoffmann-La Roche Ltd (Switzerland), GenMark (US), Henry Schein, Inc. (US), Thermo Fisher Scientific Inc. (US), Qiagen (Germany), Siemens AG (Germany), Guangzhou Wondfo Biotech (China), Robert Bosch GmbH (Germany), Cellex (US), Mayo Clinic Laboratories (US), Mount Sinai Laboratory (US), Zhejiang Orient Gene Biotech Co., Ltd. (China), Dynamiker Biotechnology (Tianjin) Co., Ltd (China), Biomedomics Inc. (US), Safecare Biotech (Hangzhou) Co., Ltd (China), Ortho Clinical Diagnostics (US), Innovita Biological Technology Co., Ltd (China), Guangdong Hecin Scientific, Inc. (China), Advaite, Inc. (US), Mylab Discovery Solutions Pvt. Ltd (India), BGI Group (China), and others.
Segment Analysis
Based on type: The rapid test kit and Rt Pcr are the sub-segments of the Covid testing kit under the segment of type. Rapid test kits hold the maximum share in the Covid testing kit market as compared to Rt Pcr.
Based on application: Based on application, the Covid testing kit market has been sub-segmented into hospitals, clinics and others. The hospital holds the largest share in the Covid testing kit market because of its advanced diagnostic technologies and facilities.
Based on the region: The Covid testing kit market has been sub-segmented based on region into- Asia-Pacific, Middle East, Europe, America and Africa.
Regional Analysis
Global COVID Testing Kit Market, based on region, has been divided into Europe, the Americas, Asia-Pacific, and Middle East & Africa.
The European market for the COVID Testing Kit Market Research Report, by country, been divided into Russia, Germany, Spain, Italy, the UK, France, and the Rest of Europe. Europe accounted for the largest market share in the global COVID testing kit market
The Americas COVID testing kit market has been divided, by country, into North America and Latin America. The North American COVID testing kit market has been further divided into the US and Canada, whereas the Latin American COVID testing kit market is sub-segmented into Brazil, Argentina, Mexico, Colombia, and the rest of Latin America. Regulatory bodies such as the Food and Drugs Administration (FDA) have given emergency use authorizations (EUA) for various diagnostics kits and devices to manage the shortage of diagnostic devices. For instance, in March 2020, the US FDA issued a EUA for a molecular point of care test kit by Abbott for the rapid detection of COVID-19.
The Asia-Pacific market for the COVID testing kit market has been further divided into India, Australia, South Korea, Japan, China, Malaysia, Thailand, Vietnam, Indonesia, Philippines, Taiwan, and Rest of Asia-Pacific.
The Middle East & Africa COVID testing kit market has been bifurcated into the Middle East and Africa. The Middle Eastern market for the COVID testing kit has been further divided into Turkey, the United Arab Emirates, Saudi Arabia, and the Rest of the Middle East. Rising cases in the UAE, Saudi Arabia, and other countries are set to push the demand for diagnostic kits. For instance, as on 8th June 2020, the total cases in Saudi Arabia were 105,283.
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