The recent outbreak of COVID-19 pandemic has affected millions of people across more than 200 countries, worldwide. Researchers are making efforts to develop an effective vaccine for this infection, however, in the absence of any proven cure, containment of the infection is essential. Diagnostics is playing an important role in the containment of COVID-19 infection by enabling implementation of control measures. Government bodies of multiple countries have initiated mass testing programs for identification and isolation of affected individuals.
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The detailed research study provides qualitative and quantitative analysis of COVID rapid testing market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, global COVID Rapid Testing Market is expected to reach US$ 5650.0 Mn in 2020 and is anticipated to grow at a CAGR of 15.23% over the forecast period, owing to the rapid spread of COVID-19 pandemic.
- As people are adopting online mediums to avail their necessities amidst lockdowns imposed to curb the spread of COVID-19, indirect sales channels including online integrators are witnessing high popularity amongst sellers and buyers.
- The antibody tests are assisting medical professionals in the development of vaccines and convalescent plasma therapy, which is anticipated to drive its share in global COVID rapid testing
- North America accounted for the highest market share in global COVID Rapid Testing Market in 2020. Asia Pacific is expected to register the highest growth rate over the forecast period. The rising number of cases in countries such as India, Indonesia and others is anticipated to drive the growth of this region.
- Some of the players operating in the COVID Rapid Testing Market are Abbot, Beijing Tigsun Diagnostics Co. Ltd., BGI, Biolidics Limited, BioMaxima SA, BIOMEDOMICS INC., bioMérieux SA, Bio-Rad Laboratories, Inc., Cellex, Cepheid, Co-Diagnostics, Inc., CTK Biotech, Inc., F. Hoffmann-La Roche Ltd, GenMark Diagnostics, Inc., GeteinBiotech, Inc., Laboratory Corporation of America Holdings. (Pixel), Megna Health, Meridian Life Science, Inc., Mylab Discovery Solutions Pvt. Ltd., QIAGEN, Quidel Corporation, Randox Laboratories Ltd., RayBiotech, Inc., SD Biosensor, INC., Seegene Inc., Thermo Fisher Scientific Inc. and Ubio Biotechnology Systems Pvt Ltd amongst others.
Global COVID Rapid Testing Market:
By Sales Channel
- Direct
- Indirect
By End-Users
- Hospitals
- Clinics
- Laboratories
- Pathological Centres
- Research Institutes
- Others
By Specimen Type
- Nasal Swab
- Nasopharyngeal (NP) Swab
- Oropharyngeal (OP) Swab
- Blood Plasma/Serum/Whole Blood
- Others
By Testing Type
- Antigen Testing
- Antibody Testing
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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