Global COVID-19 Detection Kit Market, By Product (RT-PCR Assay Kits and Immunoassay Test Strips/Cassettes), By Sample Type (Nasopharyngeal (NP) Swab, Oropharyngeal (OP) Swab, Nasal Swabs, and Others), By Mode (Decentralized or Point-of-Care (PoC) Testing and Centralized Testing (Non-PoC)), By End-user (Laboratories, Hospitals, Diagnostic Centers & Clinics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029

The global COVID-19 detection kit market accounted for US$ 3.0 Billion in 2020 and is estimated and is anticipated to register a CAGR of 4.8%.

COVID-19 is a respiratory viral infection. It is highly infectious and transmits through direct contact with an infected person or indirect contact with affected surfaces located near the close environment. The number of people getting infected with coronavirus has increased dynamically. As per Worldometer, there are 32,130,722 active cases of coronavirus across the world currently and the number is growing day-by-day. The spread of coronavirus has proven to be a challenge for developed as well as developing economies. In order to tackle this pandemic, numerous countries are using the COVID-19 detection kit, which helps to identify symptoms of COVID at an early stage. In addition, the US Food and Drug Administration (FDA) has eased the regulatory process for COVID-19 detection kits, following the Emergency Use Authorization (EUA) guideline. This has permitted market manufacturers to develop and launch their diagnostic kits in the market more rapidly.

Implementation of profitable business strategies

The demand for COVID-19 detection test kits has surged worldwide due to the increasing number of patients infected with the coronavirus. Expanding product protocol is the key strategy adopted by various key players in the market. For instance, in March 2020, ABBOTT launched a novel coronavirus test. The test are been used on their m2000 Real Time system available in hospitals and molecular labs in the U.S. By the end of March, the company has scaled up its production in the U.S. to reach capacity for 1 million tests per week. Furthermore, in March 2020, Hologic announced that it will be receiving grant funding from the US government’s Biomedical Advanced Research and Development Authority (BARDA) to increase their production of COVID-19 detection kits in order to cater the growing demand.

Product recalls

Quality control issues of the product lead to product recalls. For instance, on April 17, 2020, the Washington State Department of Health recalled around 12,000 kits sent to the tribal nations, local health jurisdictions, and state agency partners across the U.S.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

The global COVID-19 detection kit market is segmented based on the product, sample type, mode, end-user, and region.

Depending upon the product, the global business is categorized into RT-PCR assay kits and immunoassay test strips/cassettes. In terms of sample type, the worldwide industry is categorized into nasopharyngeal (NP) swab, oropharyngeal (OP) swab, nasal swabs, and others. Based on the modes, the target market is segmented into decentralized or point-of-care (PoC) testing and centralized testing (Non-PoC). Based on the end-user, the global market is classified into laboratories, hospitals, diagnostic centers & clinics, and others.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Regionally, the overall industry is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to dominate the COVID-19 detection kit market with a revenue share of 36.88% in 2020. Continuous surge in the number of coronavirus cases in Asian countries such as India is driving the growth of the market in the Asia Pacific. In addition, supportive government initiatives, growth in the number of diagnostic facilities, and the implementation of mass testing programs are creating a positive impact on the growth of the market in this region. North America is expected to register the fastest growth rate throughout the forecast period. The U.S is the worst-hit country in North America accounting for more than 6 million cases in the first week of September 2020.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029.  For the purpose of this study, has segmented the global COVID-19 detection kit market report based on product, sample type, mode, end-user, and region.

Global COVID-19 Detection Kit Market, By Product:

• RT-PCR Assay Kits
• Immunoassay Test Strips/Cassettes

Global COVID-19 Detection Kit Market, By Sample Type:

• Nasopharyngeal (NP) swab
• Oropharyngeal (OP) swab
• Nasal Swabs
• Others

Global COVID-19 Detection Kit Market, By Mode:

• Decentralized or Point-of-Care (PoC) Testing
• Centralized Testing (Non-PoC)

Global COVID-19 Detection Kit Market, By End-user:

• Laboratories
• Hospitals
• Diagnostic Centers and Clinics
• Others

Global COVID-19 Detection Kit Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global COVID-19 detection kit market include Co-Diagnostics, Inc., Thermo Fisher Scientific, BioFire Diagnostics, Siemens Healthineers AG, Abbott Laboratories, BGI, F. Hoffmann-La Roche AG, Cepheid Inc, GenMark Diagnostics, and Qiagen. Expanding product protocol is the key strategy adopted by various key players in the market. For instance, in August 2020, PerkinElmer, Inc., a worldwide leader in innovating a healthier world, launched two COVID-19 environmental testing kits to help food processors and contract labs detect the presence of SARS-CoV-2 on surfaces in food plants such as plastic, ceramic and stainless steel.

Key Issues Addressed

• Co. Diagnostics, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Overview
  • Business Strategies

• Thermo Fisher Scientific
• BioFire Diagnostics
• Siemens Healthineers AG
• Abbott Laboratories
• BGI
• F. Hoffmann-La Roche AG
• Cepheid, Inc.
• GenMark Diagnostics
• Qiagen

 “*” marked represents similar segmentation in other categories in the respective section