Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The COVID-19 also known as the novel corona virus disease is caused by the strains of the coronavirus. The virus outbreak has led the global pandemic. The global pandemic affected in around 184 countries by March 2020. The high spreading of the disease likely growth in the detection kits mostly the geriatric population is likely to more suffer as of the low immunity. As per the report of the WHO, around 95% deaths are of the populations ages 60 years or above. However, the government and the major players are taking the initiatives around the globe to deliver detection and diagnosis of COVID-19 are increasing the market shares
The global market of the covid detection kits is growing rapidly across the global. The certain factors boosting the market growth are government initiatives towards the mass testing of the peoples, increasing product approvals by regulatory agencies, rise in the no of emergency use authorization for diagnostic kits and devices. For instance, in March 2021, Eurofins’s Clinical Enterprise, Inc. had announced that it has received the US Food and Drug Administration Emergency Use Authorization for direct to consumer version of its EmpowerDX COVID-19 Home Collection Kit. The Eurofins at home COVID-19 nasal PCR kit is among the first over the counter at home test kits for SARS CoV-2 to receive EUA. The kits is available in pharmacies across the U.S. Likewise, the limited testing capacity, low demand to supply ratio and the product recalls are hampering the global market of the covid detection kits across the globe.
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the Covid testing kit market. In addition, complete analysis of changes on Covid testing kits expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The market could not get hampered as such by the COVID-19 Global pandemic as it comes under the essential services. Due to covid-19 global pandemic the market has the positive impact as the no of cases are rising due to the novel coronavirus disease.
The global market of the covid testing kits is segmented by test type, kit Type, sample type, end users and geography.
The global covid testing kits is segmented according to different test type including RT-PCR test, rapid antigen test, rapid antibody test and others. The RT-PCR test is expected to dominate in global COVID testing kits market attributing to its potential features as well as is the most reliable method for the detection of the novel corona virus disease. Furthermore, RT-PCR test determine the most accurate results for the confirmation of COVID-19 diseases. These RT-PCR test the samples of the throats and nasal are analysed for the confirmation of the novel coronavirus disease. This test type is estimated to be the more reliable method which is ultimately driving the growth of the global covid testing kits market. In addition, rapid antigen test followed by rapid antibody test are expected to drive the growth of the market at significant pace during the estimated timeframe.
The global covid testing kit market is bifurcated to various kit type like PCR machines, equipment’s and extraction kits and reagent. The PCR machines is the leading segment in kit type attributing to its high demand and are widely used for the RT-PCR tests and have gained major global market share. The PCR machines are works by detecting the DNA sequence based on the principle of the enzymatic replication of the nucleic acids. The PCR test is the most reliable and the accurate for the detection of the covid-19 and has the various applications in the laboratories, hospitals, diagnostic centres and clinics and research institutes.
The global covid testing kit market is available for different sample types like nasal swabs, throat swabs, blood samples and other. The segment is leaded by the nasopharyngeal swabs. These swabs are is the primarily recommended for the detection of the Covid-19. The most of the diagnostic units are using the nasal swabs for the detection of the infections of the specimens.
The study analyses the different end users of the covid testing kits like the hospitals, clinics, diagnostic laboratories and other like home care facilities. The diagnostic laboratories are having the high demand of the covid testing kits as they are using the high technology for the rapid and effective detection of the covid-19 on the large scale. It having the increasing order of the testing day by day. The diagnostic laboratories are also having large inflow of patients for the testing and followed by it was hospitals, clinics and home care facilities which are expected to be the fastest growing segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and rest of the world. The North America dominated the global covid testing kit market as they are having technological advancements about the covid testing and having the high no of testing. And also, the region includes developed countries like United States which has the great health care sectors. For instance, in September 2020, The Quest diagnostic performed around 15.7 million RT-PCR test and near 3.8 million antibody tests. Besides, Asia- pacific is the fastest growing region in case of the Pharmacy Automation. as the region includes developing economies such as India, Taiwan and many others. The region also has the fastest rate of the growth to the global market of the Pharmacy Automation.
The major key players in COVID testing kit are Abbott Laboratories, Abingdon Health, Acro Biotech, Advagen Biotech Ltd, Amonmed Biotechnology, Astel Diagnostics, Atomo Diagnostics, Babylon, Becton Dickinson And Company, Beijing Tigsun Diagnostics, Bgi Genomics, Biofire Diagnostics, Biomaxima S.A, Biomedomics Quantlease, Boditech Med, Inc, Canary Health Technologies, Cellex Inc, Cellmid Limited, Certest Biotec, S.L.,Cpc Diagnostics, Ctk Biotech, Danaher Corporation, Diasorin Molecular, Eiken Chemical, Fujirebio, Genmark Diagnostics, Getein Biotech, Hangzhou Biotest Biotech, Healgen Scientific Limited Liability Company, Hi Technologies, Hll Lifecare Limited, Hologic, HunanLituo Biotechnology, Immunoscience, Lab-Care Diagnostics, Labcorp, Letsgetchecked, Mesa Biotech, Motologic, Novacyt Group, Ntbio Diagnostics, Omega Diagnostics, Perkin Elmer, Quest Diagnostics, Quidel Corporation, Roche Molecular Systems, Sd Biosensor, Seegene, Senova, Sensdx S.A, Siemens Healthineers Ag, Sysmex Corporation, Thermo Fisher Scientific Inc., Transasia Bio Medicals, Vanguard Diagnostics, Vivacheck Lab, Voxtur Bio Ltd among others.
The study analyses the various market segments of the covid testing kit like by test type, sample type, kit type, end users. The leaders of the global markets by the segments are the RT-PCR test, nasal swabs, PCR machines and the diagnostic laboratories respectively. The study also analyses the global leader by the geography, the North America leads the global covid testing kit market as because of the high case of the novel coronavirus disease. the study analysed that the COVID-19 pandemic has the positive impact on the covid testing kits as there is no of rising cases rising globally. The major key players are also covered in the study.
Why to buy this report
The report offers changing market dynamics in the Covid testing kit markets industry, presenting historical, current and projected market size in terms of value (USD Million)
The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of the covid testing kit market
It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments and a neutral perspective of the covid testing kit market
The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of covid testing kit market
