According to TechSci Research report, “Global Coronavirus
Testing Kits Market By Type of Test (Molecular v/s
Serology), By Use (Disposable v/s Reusable), By Full Test Time (5 Minutes, 5-
15 Minutes, 15-60Minutes, 1 Hours- 5 Hours, 5 Hours-12Hours, 12 Hours-24Hours,
More Than 1 Days), By Technology (RT-PCR, IgG, IgM ELISA Test,
Microneutralization Assays), By Specimen Type (Nose & Throat Swab, Blood,
Sputum, Nasal Aspirate), By Mobility (Portable v/s Stationary), By End Use
(Hospitals, Clinics, Public Health Labs, Private or Commercial Labs, Physician
Labs, Research Institutes, Others), By Region, Forecast & Opportunities,
2025”, the global
coronavirus testing kits market is expected to grow at a robust rate during the
forecast period on account of increasing R&D activities related to
production of coronavirus testing kits by major companies and research
laboratories around the globe. Additionally, increasing funding & grants by
various governments around the globe for development of testing kits, so that
they can identify each case and take necessary preventive measures, is expected
to foster the market over the next few years. Moreover, deployment of test kits
at massive scale for testing suspects is anticipated to spur the market.
Furthermore, increasing healthcare spending and rising need to protect the
population from the outbreak are positively impacting the growth of market.
However, high cost of testing kits might hamper the growth of market especially
in the developing economies. Additionally, non-availability and shortage of
testing kits might hinder the growth of market. Besides, it has been found that
some testing kits are not that efficient also, which is negatively impacting
market growth.
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The global
coronavirus testing kits market is segmented based on type, use, full test
time, technology, specimen type, mobility, end user, company and region. Based
on type, the market can be bifurcated into molecular and serological tests. The
molecular type of test segment is expected to dominate the market during
forecast period since it looks for the signs of an active infection or symptom.
A sample from the back of the throat is taken and sent for testing.
Additionally, the sample undergoes a PCR test to find out the presence of
virus’ genetic material. The PCR confirms the diagnosis of COVID-19 if it finds
two genes of SARS-COV-2 virus. Moreover, these tests are helpful in identifying
the current cases of COVID-19 disease. The serological tests segment is
expected to witness significant growth during the forecast years since these
tests are done using blood samples and they detect the antibodies produced by
the body against the virus. Such antibodies are present in an individual who
has just recovered from COVID-19. Further, these tests are helpful in
determining patients with mild or no symptoms. Based on use, the market can be
divided into disposable and reusable. The disposable testing kits segment is expected
to witness significant growth in the market during the next five years since
they are based on antibody tests and provide early diagnosis of the disease.
Additionally, they provide faster diagnosis, are accurate and simple &
convenient to use. Furthermore, they can be customized according to the
requirements of the patient or doctor. Also, they are available at competitive
prices coupled with fast delivery of the kits. Based on full test time, the
market can be fragmented into 5 minutes, 5- 15 minutes, 15-60minutes, 1 hours-
5 hours, 5 hours-12hours, 12 hours-24hours and more than 1 day. The 5-12 hours
segment is expected to dominate the market since the most preferable mode for
testing RT-PCR, generally takes this much time for the diagnosis of COVID. The
RT-PCR test is followed by gene fingerprinting which usually takes time. The
15- 60 minutes segment is also expected to witness significant growth during
the forecast years because California-based molecular diagnostics company
Cepheid has developed a rapid coronavirus diagnostic test with a detection time
of about 45 minutes and has got the approval from FDA. Also, Abbot Laboratories
have developed a rapid test that will take around 5 minutes to diagnose the
disease. Based on specimen type, the market can be segregated into nose &
throat swab, blood, sputum and nasal aspirate. The nose & throat swab
specimen type is expected to dominate the market since these are the two
prominent regions where the coronavirus replicates and hence are preferred for taking
the patient’s specimen or sample. Also, the blood specimen type segment is
expected to grow rapidly during forecast period on account of the availability
and growing preference for antibody based testing kits, since they provide
faster diagnostics of the disease. Based on end user, the market can be grouped
into hospitals, public health labs, private or commercial labs, physician labs
and others. The hospitals segment is expected to dominate the market owing to
the presence of sophisticated diagnostic and treatment facilities in them.
Abbott
Laboratories, Altona Diagnostics, MyLab, Roche Diagnostics, Qiagen,
BioMednomics, Getein Biotech, Sensing Self Ltd, Hangzhou Biotest Biotech,
AmonMed Biotechnology Co, Beijing Tigsun Diagnostics Co Ltd, Biomaxima, CTK
Biotech, Hunan Lituo Biotechnology Co, Vivacheck Lab, MD Solutions, Thermo
Fisher Scientific, Siemens, Seegene Technologies, FastSense Diagnostics and
others are some of the leading players operating in global coronavirus testing
kits market. The companies operating in the market are using organic strategies
such as product launches, mergers and collaborations to boost their share. For
instance, in March 2020, Pune (India) based molecular diagnostic company Mylab
became the first Indian company to have received the validation for its
COVID-19 diagnostic test kits also known as the Reverse Transcription
Polymerase Chain Reaction (RT-PCR) tests by the Drug Controller of India, after
the National Institute of Virology validated its test. Today, the company along
with companies like Altona Diagnostics and Siemens is supplying diagnostic kits
to the world.
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this report.
“Asia-Pacific is expected to dominate the global
coronavirus testing kits market during forecast years since China was the epicenter
of this novel coronavirus disease, hence witnesses a great demand for the
testing kits.
Additionally, many other countries in the region along with China have already
developed their testing kits and are supplying them to the world. For instance,
in March 2020, Seegene, a South Korean company, announced that Los Angeles,
Government of U.S. has purchased 20,000 corona test kits from Seegene
Technologies. Mylab (India) is also supplying kits to the world. Also, Japan
Kurabo Industries Ltd., has apparently launched a new range of testing kits
which are expected to give results within 15 minutes.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Coronavirus Testing Kits Market By Type of Test
(Molecular v/s Serology), By Use (Disposable v/s Reusable), By Full Test Time
(5 Minutes, 5- 15 Minutes, 15-60Minutes, 1 Hours- 5 Hours, 5 Hours-12Hours, 12
Hours-24Hours, More Than 1 Days), By Technology (RT-PCR, IgG, IgM ELISA Test,
Microneutralization Assays), By Specimen Type (Nose & Throat Swab, Blood,
Sputum, Nasal Aspirate), By Mobility (Portable v/s Stationary), By End Use
(Hospitals, Clinics, Public Health Labs, Private or Commercial Labs, Physician
Labs, Research Institutes, Others), By Region, Forecast & Opportunities,
2025”,” has evaluated
the future growth potential of global coronavirus testing kits market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global coronavirus testing kits market.
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