The COVID-19 Test Kit Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
Global COVID-19 Test Kit Market Forecast and Trends
The global covid-19 test kit market is expected to grow with a significant CAGR during the forecast period due to rapid increase in the number of patients effected by corona virus across the globe. According to World Health Organization (WHO) as of 25th March 2020, 375,498 confirmed cases of corona virus were recorded, and 16,362 people died due to it across the globe. People throughout the globe continue to face the shortage of testing kits for the novel coronavirus (COVID-19) amid the rising number of those infected is the major growth factor for the global COVID-19 kit during the forecast period. With only a few locations to perform tests for the whole country, there is limited capacity.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
Regulations meant to maintain the integrity of the samples, and to protect those who are handling the transportation and packaging may also delay transport. There are terms on how the samples must be packed within the container. Specimens should remain within a narrow temperature range at 2-8 degrees Celsius when shipped. These factors is driving the market to develop a cost and time efficient COVID-19 kit.
And furthermore, shortage of corona virus test related supplies like virus control samples, swabs, and RT-PCR instruments for controlling the corona virus projected to influence the global COVID-19 test kit industry.
Global COVID-19 Test Kit Market: Overview
COVID-19 refers to the coronavirus disease, which is a virus strain, first identified in Wuhan, Hubei Province, China, and has only spread across the world since December 2019. Coronavirus disease (COVID-19) causes respiratory illness that can spread from person to person. The virus that causes COVID-19 probably originated from an animal source, but it is now spreading from person to person. The virus is considered to spread primarily between people who are in close contact with one another (within the range of 6 feet) through respiratory droplets produced when a corona infected person coughs or sneezes. It is also likely that a person can get COVID-19 by touching a surface or object that has the virus on it and then touching their nose, mouth, or possibly their eyes. And to detect these virus COVID-19 kits plays an important role. Patients with COVID-19 may have moderate to severe respiratory illness with symptoms of cough, fever, and shortness of breath.
Growth drivers
Surge in corona virus infected patients
Rise in the number of infected patients and increasing death ratio due to COVID-19 is the major growth driver for the global COVID-19 kit market across the globe. With countries announcing complete shutdown despite economic losses to stop the spread of corona virus. With scientist around the world working hard to develop advanced COVID-19 kit to detect corona virus easily is expected to propel the market growth.
Due to corona virus it has been advised by health authorities to wash regularly. While using COVID-19 Test Kit is a quick way to slow and prevent the spread of viruses. Warning over coronavirus has created a shortage of COVID-19 Test Kits. It is the major growth driver for the global COVID-19 Test Kit market.
Get a Free Sample PDF copy of the report @https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
Lack of COVID-19 kit
As the corona virus is newly discovered illness, due to which there is lack of kits across the globe. Different companies are trying to develop cost-effective and time efficient COVID-19 across the globe as the number of corona virus infected illness continues to grow. These factor is expected to drive the global COVID-19 market during the forecast period.
Restraint
Counterfeit kits
Increase in demand for the COVID-19 Test Kit due to recent outbreak of corona virus the availability of counterfeit products has also increased. COVID-19 Test Kit is used to detect whether a person is infected with corona virus or not. As number of corona patients are increasing, small scale companies in developing and under developed companies are using counterfeit kits detect corona patients to get financial gains.
Global COVID-19 Test Kit Market: Type
Based on type, the global COVID-19 Testing Kit market segmented into Equipment and Extraction Kits, rRT-PCR Test Kits, and Reagents9. The rRT-PCR Test Kits segment expected to gain a major share in the market during the forecast period, due to the growing demand for a test kit that can detects the virus that causes COVID-19 in respiratory specimens.
Global COVID-19 Test Kit Market: Application
Based on the application, the global COVID-19 Testing Kit market segmented into Detecting Virus, Monitoring, and Others. The Detection segment expected to dominate due to benefits such as it detects the early stage of the disease with a viral load. It recognizes main respiratory symptoms, including the patient’s nose and throat.
Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report ) @https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
Global COVID-19 Test Kit Market: End-User
Based on end-user, the global COVID-19 Testing Kit market segmented into Hospitals, Clinics, Pharmacy stores, Pathology centers, and Others. Hospitals segment expected to gain maximum revenue due to the massive demand for COVID-19 Testing Kit in hospitals. for early detection of patients and requirements for daily basis monitoring for quarantine patients in hospital. The pharmacy store segment is also expected to grow due to rise in demand for the COVID-19 testing kit by people for testing.
Global COVID-19 Test Kit Market: Regional Insights
Based on region, the global COVID-19 Testing Kit market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected generate high revenue in the global COVID-19 Kit market during the forecast period. As leading health companies are working together to develop COVID-19 kit, with increase in number of infected patients.
Asia-Pacific is estimated to grow at high CAGR during the forecast period due to high number of COVID-19 infected patients in china, and also to check and monitor to people in India and other Asia-Pacific countries.
Competitive Landscape
The leading companies of COVID-19 Test Kit Market are Cepheid Inc., AlphaBiolabs Ltd, Thermo Fisher Scientific, Cosara Diagnostics Pvt Ltd, Abbott Laboratories, Primerdesign Ltd, Hologic, Inc., Roche Holding AG, Quidel Corporation, and QIAGEN are the key players in the Global COVID-19 Testing Kit Market. and other prominent players.
Get The Insights You Need By Customizing Your Report To Fit Your Unique Needs And Goals:-https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
Recent Development
March, 2020: Cepheid announced it has received Emergency Use Authorization (EUA) from the U.S. Food & Drug Administration (FDA) for Xpert® Xpress SARS-CoV-2, a rapid molecular diagnostic test for qualitative detection of SARS-CoV-2, the virus causing COVID-19. The test has been designed to operate on any of Cepheid’s more than 23,000 automated GeneXpert® Systems worldwide, with a detection time of approximately 45 minutes.
March, 2020: Abbott announced that the U.S. Food and Drug Administration has issued Emergency Use Authorization (EUA) for the company’s molecular test for novel coronavirus (COVID-19). Abbott is immediately shipping 150,000 Abbott RealTime SARS-CoV-2 EUA tests to existing customers in the U.S. The tests are used on the company’s m2000™ RealTime System. Abbott will be working with health systems and government authorities to deploy additional m2000 systems where they are needed.
By Type
Equipment and Extraction Kits
rRT-PCR Test Kits
Reagents9
By Application
Detecting Virus
Monitoring
Others
By End-Use
Hospitals
Clinics
Pharmacy Store
Pathology Centre
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below:-https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
The objective of the Study:
To analyze and forecast the global COVID-19 Test Kit Market size of the market in terms of value.
To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
The Global COVID-19 Test Kit Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa and their leading countries.
To outline, categorized, and forecast the global COVID-19 Test Kit Market based on the type, application, and end-use.
To examine competitive developments like technological advancement, services, and regulative framework within the global COVID-19 Test Kit Market.
To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Table of Content
Chapter 1: Global COVID-19 Test Kit Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global COVID-19 Test Kit market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global COVID-19 Test Kit Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global COVID-19 Test Kit market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of COVID-19 Test Kit market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the COVID-19 Test Kit market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the COVID-19 Test Kit market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate COVID-19 Test Kit business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
Access Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=BWC66
About Report Ocean:
Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.
Contact Information:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, United States
Telephone: +1 888 212 3539 (US – Toll-Free)
For more information and to explore their offerings, visit their website at:https://www.reportocean.com/