COVID-19 Detection Kits Market Size Worth $4.63 Billion By 2027

As per the published report, the global COVID-19 detection kits market is estimated to arrive at USD 4.63 billion by 2027. It is anticipated to record 5.05% CAGR in the period of the forecast.

The pandemic has caused, quite a lot of challenges to the universal healthcare systems. The diagnostics area is familiar, as one of the principal fundamentals of the efforts to control the spread and avoid its unfavorable global influences. Accordingly, companies are speeding up their production procedures to encounter the requirement for the reagents and kits, in addition to domestic tests kits, in this manner pouring the revenue in the market.

In spite of the cost and time associated challenges, molecular test remains the important technique of the revealing due to elevated specificity and sensitivity. Consequently, the kits for RT-PCR centered molecular analyze are observing a massive augmentation in demand, through the world. The constant growth in the delivery of the molecular test kits describes the towering demand for the COVID-19 detection kits

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Further key findings from the report suggest:

• Amid the soaring figures of cases as well as testing, Asia Pacific is likely to retain its supremacy, all above the forecast period. Asian nations are concentrating on the fast antigen testing having the status of a viable strategy, to restrain the spread, consequential in the revenue enlargement of this region

• At present, the centralized testing (Non-PoC) is the important form of testing and therefore it was expected to keep its domination, throughout 2020. Healthcare experts are able to deal with a huge quantity of samples, during this mode, by enormous effectiveness along with greater level of computerization, in this manner powering the progress of the sector.

• Due to the elevated pace of the usage of PCR testing, RT-PCR test kits are likely to form the most important share of the revenue, in the COVID-19 detection kits market. Greater trustworthiness of the assessment results is the important contributing reason of the soaring acceptance of RT-PCR test, through the world.

• Presently, the laboratories are the major revenue generating end-user sector in the market, by way of an excessive quantity of a testing procedures, scheduled at laboratory location.

• Caused by the reliance of RT-PCR test on NP swabs, Nasopharyngeal (NP) swabs are expected to take over the highest revenue share of the market. Providers of testing services and the healthcare establishments have teamed up with the manufacturing companies, for the stock of NP swabs, to examine patients on a huge size.

Million Insights segmented the global COVID-19 detection kits market based on End Use, Mode, Sample Type, Product, 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

Companies
Various companies for COVID-19 detection kits market are:
    • Becton, Dickinson and Company
    • Luminex Corporation
    • My lab Discovery Solutions Pvt Ltd.
    • DiaSorin
    • Thermo Fisher Scientific, Inc.
    • F. Hoffmann-La Roche AG
    • Quidel Corporation
    • Abbott
    • Altona Diagnostics GmbH
    • Veredus Laboratories
    • Perkin Elmer, Inc.