COVID-19 Detection Test Kits and Consumables Global Market To Reach Value Of About $8 Billion In 2025
7 Dec, 2021
Global COVID-19 Detection Test Kits and Consumables Market Size And Drivers:
The global COVID-19 detection test kits and consumables market is expected to grow from $5.2 billion in 2020 to $6.1 billion in 2021 at a compound annual growth rate (CAGR) of 17.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The COVID-19 detection test kits & consumables market is expected to reach $8.02 billion in 2025 at a CAGR of 7%. The escalating demand for cost-effective and quick COVID-19 detection kits coupled with the easing of regulatory processes for COVID-19 detection kits contributed to the growth of COVID-19 detection kits and consumables market.
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Trends In The Global COVID-19 Detection Test Kits and Consumables Market
In April 2020, Co-Diagnostics, a molecular diagnostics company has signed an agreement with Promega for additional manufacturing capacity for the urgent production of its Logix Smart COVID-19 test. Promega will support Co-Diagnostics with its innovative solutions and technical support by providing test kits of its new Logix Smart COVID-19 test to meet the demand during the pandemic. Logix Smart COVID-19 test uses the Co-Primer technology of Co-Diagnostics to target the RdRp gene of the SARS-CoV-2 virus that causes the disease. The test is currently available to all clinical laboratories certified under Clinical Laboratory Improvement Amendments. Promega Corporation will begin supplying complete test kits for further distribution by Co-Diagnostics. The enhanced partnership enables Co-Diagnostics to reach additional testing facilities while leaning on Promega Corporation’s extensive manufacturing capabilities and increased capacity.
Global COVID-19 Detection Test Kits and Consumables Market Segments:
The global COVID-19 detection test kits and consumables market is further segmented –
By Kits: Viral Load Testing Kits (qPCR and RT-PCR), Virus Neutralizing Assay Kits, Antibody Detection Kits (Elisa), Viral Antigen Detection Test Kits, Others
By Consumables: Swabs, Tubes, Viral Transfer Media, Reagents, Other Consumables
By Specimen Type: Nose & Throat Swab, Blood, Sputum, Nasal Aspirate
By End Use: Hospitals, Clinics, Public Health Labs, Private And Commercial Labs, Physicians Labs, Research Institutes, Others
By Geography: The global COVID-19 detection test kits and consumables market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/covid19-detection-test-kits-and-consumables-market-global-report-2020-30-covid-19-implications-and-growthCOVID-19 Detection Test Kits and Consumables Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides COVID-19 detection test kits and consumables market overviews, analyzes and forecasts market size and growth for the global COVID-19 detection test kits and consumables market, COVID-19 detection test kits and consumables market share, COVID-19 detection test kits and consumables market players, COVID-19 detection test kits and consumables market segments and geographies, COVID-19 detection test kits and consumables market’s leading competitors’ revenues, profiles and market shares. The COVID-19 detection test kits and consumables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.