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Global COVID-19 Detection Kits Market

June 22, 2019

Global COVID-19 Detection Kits Market, By Type (RT-PCR Assay Kits andImmunoassay Test Strips/Cassettes), By Specimen Type (Oropharyngeal Swab, Sputum, Nasopharyngeal Swab, Nasal Swab, and Others), By End User (Hospitals, Diagnostic Centers, and Others), By Region (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa) - Global Forecast, 2020-2025.

Report Code :FMR542      
Pages :210 Pages
Format :   PPT Format   PDF Format

The global COVID-19 detection kits market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020 and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). COVID-19 or coronavirus is a respiratory ailment and considered a dangerous contagious disease. As per WHO, COVID-19 outbreak has been announced as a pandemic because of its contagious effect, which is spreading worldwide, rapidly. COVID-19 had spread across 184 countries till May 2020 and was causing serious health crises worldwide. The rapid spread of coronavirus worldwide results in a massive surge in demand for  COVID-19 detection kits, globally.

Table 1. Global COVID-19 Detection Kits Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Type)

RT-PCR Assay Kits andImmunoassay Test Strips/Cassettes

Market Segmentation (By Specimen Type)

Oropharyngeal Swab, Sputum, Nasopharyngeal Swab, Nasal Swab, and Others

Market Segmentation (By End User)

Hospitals, Diagnostic Centers, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa

Key Players Coverage

BioFire Diagnostics, BGI, Cepheid, Abbott, F. Hoffmann-La Roche Ltd., Co-Diagnostics, Inc., Guangzhou Wondfo Biotech, GenMark Diagnostics, Inc., Qiagen, and Shenzhen Bioeasy Biotechnology, Randox Laboratories Ltd. Mylab Discovery Solutions,SD Biosensor,  Quidel Corporation, Seegene, and Thermo Fisher Scientific, among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

Increasing cases of COVID-19 spread all over the world is driving the demand for detection kits. Moreover, the geriatric population is more prone to become victims of this disease because of low immunity and are examined at higher risk of catching COVID-19. Thus, the increasing numbers of cases surging the demand of COVID-19 detection kits globally. According to the European Centre for disease prevention and control, till 20th April 2020, the number of positive coronavirus cases was 2,431,890 with 1, 69,859 demises. With such a massive number of populations getting affected by corona virus, the demand for detection kits are rising rapidly worldwide.  For instance, as per the government data of India, approximately 1,10,24,491 samples have been tested till 9th July 2020. Whereas, as per the U.S. centers for disease control recent data, approximately 15.7 million citizen’s samples have been collected. Moreover, India is manufacturing 75% of sample kits domestically and the remaining 25% are being imported from other countries.

However, the high cost of kits and limited availability of detection kits may hamper the growth in coming future.

Figure 1. PORTER’S Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America is estimated to hold a notable market share in the COVID-19 detection kits Market due to the increasing geriatric population, a massive number of COVID-19 infected patients, increasing healthcare investment, and the presence of vital COVID-19 detection kits production. For instance, as per Johns Hopkins University of Medicine, the U.S. has reported approximately 759,086 cases by 19 April 2020 and in moreover, an organization Hologic has received the U.S FDA's Emergency Use Authorization (EUA) for SARS-COV-2 molecular tests. This will result in surging a demand for detection kits and further drive the COVID-19 detect kit market in the U.S. With this, due to increasing cases in Russia and India the demand for detection kits is going up and is expected to boost the market of COVID-19 detection kits in these regions. For instance, as per the data of Financial Express, on a daily basis, a total of approximately 2,00,000 tests are being done from which 75% or testing kits are been manufactured domestically. Moreover, Russia’s Federal Health care supervisory Agency is planning to manufacture a whole lot of 1,00,000 kits a day in Russia.

Figure 2. Regional Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitve Landscape

Key players in the global COVID-19 detection kits market include BioFire Diagnostics, BGI, Cepheid, Abbott, F. Hoffmann-La Roche Ltd., Co-Diagnostics, Inc., Guangzhou Wondfo Biotech, GenMark Diagnostics, Inc., Qiagen, and Shenzhen Bioeasy Biotechnology, Randox Laboratories Ltd. Mylab Discovery Solutions,SD Biosensor,  Quidel Corporation, Seegene, and Thermo Fisher Scientific, among others.

Players have adopted strategies of increasing production of kits and acquisition to strengthen their position in the market. For instance, In March 2020, Thermo Fisher Scientific declared to gear up their RT-PCR based COVID-19 detection kits production to cover up the U.K.’s demand for 100,000 tests per day. This will help the firm to garner a substantial market share.

Figure 3. Market Share of Key Players, 2019

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Type

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

By Specimen Type

  • Oropharyngeal Swab
  • Sputum
  • Nasopharyngeal Swab
  • Nasal Swab
  • Others

By End User

  • Hospitals
  • Diagnostic centers
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides in-depth analysis of the global COVID-19 detection kits market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global COVID-19 detection kits market?
  • What key factors are expected to increase the demand for COVID-19 detection kits market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global COVID-19 detection kits market?
  • What was the total market value (US$ Mn) generated in global COVID-19 detection kits market by type in 2019, and what are the forecasts by 2025?
  • Which specimen type is expected to dominate the COVID-19 detection kits market in the coming years?
  • Which end user is expected to foster the Covid-19 detection kit market growth?
  • What was the total revenue generated by the global COVID-19 detection kits market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global COVID-19 detection kits market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the COVID-19 detection kits market?
  • What are the major outcomes derived from the Porter’s five forces?
  • What new products are going to be approved or launched in the coming years which may have huge impact on the market?
  • What insights are derived through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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