Market Synopsis
Competitive Market Growth, Size, Share and Forecast to 2028 for COVID Rapid Testing Market 2019 2020, 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);
Market Snapshot
The COVID Rapid Testing Market 2019 2020 was valued USD 97.4 billion in 2021 and will grow at a CAGR of 7.70% for the forecast period of 2021-2028, as per the market research report by Absolute Markets Insights titled ” COVID Rapid Testing Market 2019 2020
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Market Overview
Coronavirus infection has spread globally since its detection in Hubei province of China in December 2019. As number of individuals that have shown symptoms of COVID-19 are increasing, a series of computed tomography (CT) tests were performed on these patients. These tests have shown varied results as compared to images of an healthy individuals lungs. Later bronchoalveolar lavage (BAL) fluid of these patients were analyzed which proved that the pathogen has similar genetic sequence to the betaCoronavirus B lineage, and genome similar to that of severe acute respiratory syndrome virus (SARS-CoV). This virus has spread rapidly across continents causing a global pandemic. A multitude of tests including CT imaging, whole genome sequencing and electron microscopy were initially performed to identify COVID-19 patients. However, these techniques were time consuming and had less throughput to cope with the higher in-flow of patients. The number of reported cases of COVID-19 has crossed 31 million mark worldwide with more than 270,000 new cases being reported each day. The rise in number of COVID-19 patients has created a high demand for rapid, point-of-care diagnostics. Rapid diagnostic tests for COVID-19 detect the presence of viral proteins (antigens) related to this virus in a sample from the respiratory tract of a person. They also help in the detection of antibodies in blood or serum, of human which are generated in response to the infection. These tests have the capability of producing results in less than 30 minutes. Thus, this higher demand for faster diagnosis of COVID-19 patients is fuelling the adoption of COVID rapid testing market.
The term COVID Rapid Testing Market 2019 2020 is influenced by a number of variables, such as forward/backward integration, economies of scale, the proportion of different distribution channels, elements influencing consumer behavior, such as brand loyalty, price, and accessibility of the product, capital investments, the regulatory environment, production rights and patents, marketing strategies, and other customer preferences. It is likely that the stakeholders in the sector will find this information beneficial and that it may even motivate them to take action.
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COVID Rapid Testing Market 2019 2020 Competitive Landscape:
The prominent companies in the COVID Rapid Testing Market 2019 2020 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., LaboratoryCorporation 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.
Impact of COVID-19:
This article discusses consumer behavior, demand movements, shopping trends, supply chain restructuring, market forces dynamics, and significant government involvement. The new paper offers more information, analyses, projections, and estimates of the market effects of COVID-19.
Reasons to Buy the Report:
- The fully updated, 405+ page publications provide a comprehensive overview of the COVID-19 virus and pandemic. You can discover more about subjects like regional impact analysis, worldwide prediction, competitive landscape analysis, and size & share of regional markets by using industry-specific market research data and interviews with subject-matter experts.
- The complimentary sample includes information on the market’s scope, key players, profitability analysis, SWOT analysis, historical and projected statistics, growth Porter’s Five Forces analysis, revenue projections, industry trends, and financial ratios. Along with assessments from Absolute Market Insights for various countries and regions, the study also includes in-depth studies of the major variables influencing the market’s growth.
- The Sample Report gives readers a competitive advantage by providing additional information on the key market participants, such as their sales volume, corporate strategy, and revenue analysis.
Key Benefits of Global COVID Rapid Testing Market 2019 2020 Report:
- A lot of work has been spent considering both the present and the future as part of the examination into global COVID Rapid Testing Market 2019 2020 patterns.
The Global COVID Rapid Testing Market 2019 2020 Growth Research Report offers comprehensive details on the Market Introduction, Market Summary, Global Market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and National levels.
Researching global COVID Rapid Testing Market 2019 2020 trends might be useful for identifying business prospects.
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COVID Rapid Testing Market 2019 2020 Regional Insights
North America region registered the highest share in global COVID rapid testing market. Countries such as the U.S and Mexico in North America region witnessed a high number of COVID-19 cases. Furthermore, COVID-19 graph is on the rise, and the growth in infected individuals is causing concerns amongst public health officials. Statistics from Center for Disease Control and Prevention agency in the U.S. show that the total number of COVID-19 cases as of September 22, 2020 has crossed 6.825 million. Isolation of affected individuals has been identified as the fastest and the most efficient procedure to curb the spread of the virus. Thus, the high number of COVID cases, especially in the U.S., and the rising demand for faster diagnostics in the region is pushing the growth of the global COVID rapid testing market.
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. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The study offers a thorough analysis of several elements, including the distribution of the COVID Rapid Testing Market 2019 2020 in important geographic areas. Latin America, North America, Europe, and Asia-Pacific are the study’s primary geographic focus regions.
Why the COVID Rapid Testing Market 2019 2020 Report is Beneficial?
- The study covers a significant amount of information on the most recent product and technology breakthroughs in the COVID Rapid Testing Market 2019 2020 and provides a thorough analysis of the market competition for the COVID Rapid Testing Market 2019 2020 .The study was created utilizing a thorough and contemporary research approach.
- The numerous analyses of how these updates might impact the continued expansion of COVID Rapid Testing Market 2019 2020.
- The research report for the COVID Rapid Testing Market 2019 2020 study contains a wealth of historical information and analysis.
- The COVID Rapid Testing Market 2019 2020 report’s insights are evident and straightforward to understand because to the graphical data representations employed, such as bar graphs, statistics, pie charts, etc.
COVID Rapid Testing Market 2019 2020 Segmentation:
Various categories have been created within the COVID Rapid Testing Market 2019 2020 market based on the components of the product and the intended use for which it is designed. Market share and growth rates for each market segment are assessed. The experts have also considered prospective areas where the producers might make money in the future. The accurate volume and value estimates provided by the geographical analysis aid market participants in better understanding the overall industry.
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
Global COVID Rapid Testing Market 2019 2020 by Region COVID Rapid Testing Market 2019 2020
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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