Market Highlights:
Since last year, the spread of COVID has caused huge casualties stemming from the virus's lack of detection at the early stages. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. COVID Testing Kit Market Forecast is expected to reach USD 122,820.67 Million by 2030 at a CAGR of 7.20%, says Market Research Future (MRFR). The COVID-19 pandemic has produced an ongoing public health problem on a global scale.
The shortage of testing kits initially has now contributed to several companies contributing to the production of kits to meet the demand, thus boosting the COVID testing kit market share. The development of the production potential in other ancillary sectors is estimated to bolster the COVID testing kit market in the forthcoming period.
Segment Analysis:
COVID Testing Kit Market, by Type
Rapid Test Kit
RT-PCR
Others
COVID Testing Kit Market, by Application
Hospitals
Clinics
Others
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, 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
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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.
Key Players:
MRFR recognizes the following companies as the Key Players in the Global COVID Testing Kit— 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.
Key Findings of the Study:
- Global COVID testing kit is estimated to reach USD 97,903.2 Million by 2027 at a CAGR of 6.58% during the assessment period of 2020 to 2027
- Europe accounted for the largest share of the global COVID testing kit due to the increasing number of COVID-19 cases across the Western European countries. The European countries and their respective governments are focusing on increasing the testing capabilities to curb the COVID-19 pandemic. For instance, Sweden has a test capacity of about 15,000-20,000 tests per week, according to previous data from the Public Health Agency, and the government authorities announced in May 2020 that the country will further expand its testing to 35,000 tests per week.
- Based on the type, the rapid test kit segment was the fastest-growing segment with a CAGR 7.49% from 2021 to 2027
On the basis of application, the hospitals segment held the largest share of 48.3% in 2020
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Market HighlightsGlobal COVID Testing Kit Market is expected to have a market value of USD 97,903.2 Million by 2027.
According to the latest data, there were 86,827 new cases on 16 May 2020 and 7,215,102 new cases on 8 June 2020, globally.
Due to such increasing numbers of cases, there is a growing demand for more COVID-19 testing kits and devices, hence driving the market growth.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/9715Segment AnalysisGlobal COVID Testing Kit is segmented based on type and application.
The global COVID testing kit market, by type, has been segmented into rapid test kit, RT-PCR, and others.
The global COVID testing kit market, by application, has been segmented into hospitals, clinics, and others.
The hospital segment accounted for the largest market share owing to the high adoption of advanced diagnostic technologies among healthcare professionals.Regional AnalysisGlobal 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, by country, been divided into Russia, Germany, Spain, Italy, the UK, France, and the Rest of Europe.
Global COVID Testing Kit Market: Information 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) - Forecast till 2027Market HighlightsGlobal COVID Testing Kit Market is expected to have a market value of USD 97,903.2 Million by 2027.
According to the latest data, there were 86,827 new cases on 16 May 2020 and 7,215,102 new cases on 8 June 2020, globally.
Due to such increasing numbers of cases, there is a growing demand for more COVID-19 testing kits and devices, hence driving the market growth.Segment AnalysisGlobal COVID Testing Kit is segmented based on type and application.
The global COVID testing kit market, by type, has been segmented into rapid test kit, RT-PCR, and others.
The global COVID testing kit market, by application, has been segmented into hospitals, clinics, and others.
The hospital segment accounted for the largest market share owing to the high adoption of advanced diagnostic technologies among healthcare professionals.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/9715 Regional AnalysisGlobal 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, by country, been divided into Russia, Germany, Spain, Italy, the UK, France, and the Rest of Europe.
The Soil Testing Kit Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
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Various stringent regulations imposed for construction materials are likely to favor the market growth.
