COVID-19 Detection Kits Market is Expected to Grow at an Estimated CAGR of 5.05% during 2020-2027 | Grand View Research, Inc.

September 25 01:10 2020
COVID-19 Detection Kits Market is Expected to Grow at an Estimated CAGR of 5.05% during 2020-2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global COVID-19 detection kits market size is valued at USD 3.28 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.05% from 2021 to 2027.

The global COVID-19 detection kits market size is expected to reach USD 4.63 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.05% during the forecast period. The COVID-19 pandemic has posed several challenges to the global healthcare systems. The diagnostics area is recognized as one of the primary elements of efforts to contain the spread and circumvent its adverse impact globally. As a result, companies are ramping up their production process to meet the demand or kits and reagents as well as at-home tests, thereby driving the market revenue.

Constantly increasing demand for rapid diagnostic tests that can deliver results in less time coupled with a shortage of testing materials has triggered the development of antibody and antigen test kits. For instance, in August 2020, Abbott Laboratories secured approval for a COVID-19 portable antigen test that can deliver results in 15 minutes.

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U.K. COVID-19 detection kits market size, by sample type, 2020 - 2027 (USD Million)

Despite the time and cost-related challenges, molecular assay remains the key detection method owing to high sensitivity and specificity. As a result, the kits for RT-PCR based molecular assay are witnessing a huge rise in demand across the globe. The continuous growth in the shipping of the molecular test kit depicts the high demand for these kits. For instance, in May 2020, Siemens Healthineers announced its plans to ship more than 2.5 million molecular PCR test kits per month.

COVID-19 Detection Kits Market Report Highlights

l  RT-PCR assay kits are estimated to account for the major revenue share owing to the high usage rate of PCR testing. High reliability of test results is the key contributing factor of high adoption of RT-PCR assays across the globe

l  Nasopharyngeal (NP) swabs are estimated to capture maximum revenue share owing to the dependence of RT-PCR assays on NP swabs. Healthcare institutes and testing service providers have collaborated with market participants for the supply of NP swabs to test patients at a large scale

l  Centralized testing (Non-PoC) is currently the key mode of testing and thus it is anticipated to maintain its dominance through 2020. Through this mode, healthcare professionals can process a massive number of samples with great efficiency and a high level of automation, thereby driving the segment growth

l  In the current market, laboratories is the key revenue-generating end-user segment with a high number of a testing process taking place within laboratory settings

l  With a high number of cases and testing, Asia Pacific is anticipated to maintain its dominance throughout the forecast period. Asian countries are focusing on rapid antigen testing as a cost-effective strategy to contain the spread, resulting in the revenue growth of this region

l  Some of the key players operating in the COVID-19 detection kits industry include Quidel Corporation; Abbott; Becton, Dickinson and Company, and Thermo Fisher Scientific, Inc.

Global COVID-19 detection kits market share by end-use, 2020 (%)

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COVID-19 Detection Kits Market Segmentation

Grand View Research has segmented the global COVID-19 detection kits market on the basis of product, sample type, mode, end-use, and region:

COVID-19 Detection Kits Products Outlook (Revenue, USD Million, 2020 – 2027)

  • RT-PCR Assay Kits
  • Immunoassay Test Strips/Cassettes

COVID-19 Detection Kits Sample Type Outlook (Revenue, USD Million, 2020 – 2027)

  • Nasopharyngeal (NP) Swab
  • Oropharyngeal (OP) Swab
  • Nasal Swab
  • Others

COVID-19 Detection Kits Mode Outlook (Revenue, USD Million, 2020 – 2027)

  • Decentralized or Point-of-Care (PoC) Testing
  • Centralized Testing (Non-PoC)

COVID-19 Detection Kits End-use Outlook (Revenue, USD Million, 2020 – 2027)

  • Laboratories
  • Hospitals
  • Diagnostic Centers and Clinics
  • Others (Research Institutes & Direct-to-Consumers)

COVID-19 Detection Kits Regional Outlook (Revenue, USD Million, 2020 – 2027)

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
    • Austria
    • Portugal
    • Sweden
    • Norway
    • Russia
    • Denmark
    • Poland
    • Switzerland
    • Turkey
    • Belgium
    • Netherlands
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Malaysia
    • Philippines
    • Indonesia
    • Thailand
    • Singapore
  • Latin America
    • Brazil
    • Chile
    • Peru
    • Mexico
  • The Middle East & Africa (MEA)
    • South Africa
    • Iran
    • Israel
    • UAE
    • Qatar
    • Iraq

List of Key Players of COVID-19 Detection Kits Market

  • F. Hoffman-La Roche Ltd.
  • Thermo Fisher Scientific, Inc.
  • Perkin Elmer, Inc.
  • Veredus Laboratories
  • DiaSorin
  • altona Diagnostics GmbH
  • Mylab Discovery Solutions Pvt Ltd
  • Abbott
  • Luminex Corporation
  • Quidel Corporation
  • Becton, Dickinson and Company

Key Topics Covered 

Table of Content

Chapter 1 COVID-19 Detection Kits Market: Methodology And Scope
                  1.1 Research Methodology
                  1.2 Research Assumptions
                      1.2.1 Estimates and forecast timeline
                  1.3 Information Procurement
                      1.3.1 Purchased database
                      1.3.2 GVR’s internal database
                      1.3.3 Secondary sources
                      1.3.4 Primary research
                      1.3.5 Details of primary research
                  1.4 Information or Data Analysis
                      1.4.1 Data analysis models
                  1.5 Market Formulation & Validation
                  1.6 Model Details
                      1.6.1 Commodity flow analysis
                 Approach 1: Commodity Flow Approach
                      1.6.2 Volume price analysis (model 2)
                 Approach 2: Volume price analysis
                 Revenue modeling
                 Workflow mapping of COVID-19 detection kits
                  1.7 List of Secondary Sources
                  1.8 List of Primary Sources
Chapter 2 COVID-19 Detection Kits Market: Executive Summary
                  2.1 COVID-19 Detection Kits Market: Market Outlook
                      2.1.1 Market summary
                  2.2 COVID-19 Detection Kits Market: Market Segmentation
                  2.3 COVID-19 Detection Kits Market: Competitive Insights

…. continue

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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