Covid-19 Test Kits Market – By Type Of Tests (Molecular and Serology), By Product (RT-PCR Assay Kits, Immunoassay Test Strips/Cassettes, Enzyme-Linked Immunosorbent Assay (Elisa), and Rapid Diagnostic Test (RDT)), By Application (Hospitals and Clinics, Public Health Labs, Private Or Commercial Labs, and Other), By Specimen Type (Nasopharyngeal Swab, Oropharyngeal Swab, Throat Swab, Blood, and Sputum), By End User (Government and Non-Government), By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Covid-19 Test Kits Market size was valued at XXX USD in 2020 and is expected to grow at a rate of XXX CAGR during the forecast period.The test kits function is to identify or diagnose the presence of Covid-19 disease in the patient. In the pandemic situation of Covid-19, different types of test kits are in demand that are being used to detect the symptoms of Covid-19 at its early stage of infection. As per official reports, more than 74 million tests have been done worldwide and furthermore tests will be conducted in future. Some countries like U.S., Spain, Italy, Russia, Iran, and India have increased the numbers of tests to identify the numbers of Covid-19 patients. The pharmacy companies like Abbott Laboratories, F. Hoffmann-La Roche Ltd., BGI Genomics Co. Ltd., and others are actively participating in supplying the test kits at various level so that the spread of disease can be curbed. The Covid-19 disease has multiplying nature and need to be identified at its early stage only. Also, we have to make sure that we should have required number of test kits available with us. Considering such pandemic situation, the requirement for test kits have increased around the world, which show market growth for the test kits. However, due to high price of test kits, the market penetration for these products have become difficult. The sales of test kits have increased by 85% and the revenue is expected to be USD XXX by 2020.

Market Segmentation:

On the basis of type, covid-19 test kits market is segmented by type of tests into molecular and serology. By product type, the market is categorized into RT-PCR assay kits, immunoassay test strips/cassettes, enzyme-linked immunosorbent assay (elisa), and rapid diagnostic test (EDT).  By application type, the market is classified into hospitals and clinics, public health labs, private or commercial labs, and others. By specimen type, covid-19 test kits market is categorized into nasopharyngeal swab, oropharyngeal swab, throat swab, blood, and sputum. By end user, the market is segmented into government and non-government.  By region, the covid-19 test kits market is classified into, North America, Asia- Pacific, Europe and RoW.

Market Dynamics and Factors:

Due to havoc situation and increasing numbers of death worldwide, the demand for test kits have increased, however the high price will remain the restraints for the manufacturers to enter into the covid-19 test kits market. The relaxation by Food and Drugs Administration, FDA (USA) has given opportunities for many pharmacy companies to research, manufacture, and sale test kit in the market, after receiving the approval. Most of the companies lack proper research and technological advancement in manufacturing quality test kits, and that can be considered as major constraints. UK, Italy, Spain, and France are collectively doing more than 90,000 tests per day that makes Europe as most favorable market for the companies to enter. Also, it has been noticed that European Union regulations can be obtained easily in comparison to American regulations, which has attracted most of the companies to shift to this region.

Geographic Scenario

North America is the highest revenue generator and the test kit market is expected to be more than USD 1,500 million by 2021 with more than 65% of covid-19 test kits market share. The European market is the 2nd largest revenue-generating region and is expected that market value will be more than USD 1000 million by 2021. Asia Pacific region is expected to be 3rd largest revenue-generating market with estimated revenue of USD 800 million by 2022. South Korea is also one of the major exporters of test kits with a manufacturing capacity of more than 95,000 per day. The price of test kits worldwide ranges from USD 13 to USD 800 per unit.

Competitive Scenario:

The key players in the global covid-19 test kits industry are QIAGEN, Quidel Corporation, Roche Holding AG, Hologic, Inc., Primerdesign Ltd., Abbott Laboratories, Cosara Diagnostics Pvt. Ltd., Thermo Fisher Scientific, AlphaBiolabs Ltd. Cepheid Inc., and others.

Covid-19 Test Kits Market Report Scope