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COVID-19 Detection Kits Market Size By Product (RT-PCR Assay Kits, Immunoassay Test Strips/Cassettes {Antibody, Antigen}), By Specimen Type (Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab), By End-use (Hospitals, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4610
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Overview

COVID-19 Detection Kits Market size surpassed USD 32.3 billion in 2021 and is expected to witness -17.8% CAGR from 2022 to 2028. The robust spread of coronavirus will increase the cases of infectious disease globally and thus will propel the market statistics.
 

COVID-19 Detection Kits Market

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Furthermore, the variations in COVID-19 strains have increased its infection rate. Such scenario increases the demand for COVID-19 detection kits and upsurges the market growth. Along with this, introduction of new cutting-edge testing methods to reduce the adverse effects of the ongoing pandemic is expected to boost the market growth.

The COVID-19 detection kits are intended for in-vitro diagnosis and detection of SARS-CoV-2. These kits provide faster results, within a few minutes or hours and help in proper patient treatment. Thus, help in proper patient care, continuous technological innovations and rising demand for COVID-19 detection kits will boost the market growth over the analysis timeframe. However, as many people are vaccinated in most countries, the number of new COVID-19 cases is decreasing. Such an aspect will limit the market expansion over the coming years.
 

Rising incidences of COVID-19 cases globally will upsurge the market share over the analysis period

The worldwide increase in COVID-19 infections is one of the major factors driving the COVID-19 detection kits market growth. The number of people suffering from COVID-19 infection has increased exponentially. The demand for COVID-19 detection kits will increase owing to rising number of patients due to ease of lockdowns across the globe. According to the WHO, there were 424,822,073 confirmed cases of COVID-19 until February 2022. Such an increase in COVID-19 cases demands more COVID-19 detection kits, thereby propelling the market forecasts.
 

Additionally, even though the vaccination rate is high, infected people can still spread the disease thus, fueling the transmission. Additionally, continuous mutation in virus causes variation in viral structure on which the vaccines are not completely effective. Such scenarios increase the demand for COVID-19 detection kits thereby augmenting the overall market expansion.
 

Increasing use of RT-PCR assay kits will boost the COVID-19 detection kits industry over the forecasts period

Global COVID-19 Detection Kits Market, By Product

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Based on the product, the COVID-19 detection kits market is divided into RT-PCR assay kits and immunoassay test strips/cassettes. The RT-PCR assay kits accounted for around 76% market share in 2021. This is owing to increasing advanced product launches due to technological advancements in COVID -19 RT-PCR assay kits. Also, most of the commercially available kits rely on the RT-PCR technique owing to its high specificity and sensitivity.
 

For instance, in June 2021, Thermo Fisher Scientific launched TaqPath COVID-19 Fast PCR Combo Kit 2.0. This kit comprises of advanced assay design that detects and gives an accurate diagnosis of current as well as emerging COVID-19 variants. The kit has turn-around time of two hours along with high-frequency testing. Such innovations in COVID-19 detection kits will propel market size during the forecast period.
 

Key industry players are incorporating advanced technologies in custom Nucleic Acid Amplification Tests (NAAT) devices such as RT-PCR. These devices produce test results in 3 to 4 hours. Furthermore, the Centers for Disease Control and Prevention (CDC) and the U.S. Food and Drug Administration (FDA) have marked these devices as the gold standard for COVID-19 diagnostics due to their high specificity and sensitivity in detecting SARS-COV-2.
 

Nasopharyngeal swab for conformation of COVID-19 will boost the market revenue over the years

Global COVID-19 Detection Kits Market, By Specimen Type

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Based on specimen type the COVID-19 detection kits market is classified into nasopharyngeal swab, oropharyngeal swab, nasal swab, and others. Among them, the nasopharyngeal swab segment accounted for around USD 14 billion in 2021. This is owing to the rising number of asymptomatic patients with COVID-19 infection coupled with rising new product launches that give immediate results via nasopharyngeal swabs further fostering the market growth.
 

For instance, in July 2021, Abbott launched Panbio Covid Antigen Rapid Test in India. This test is used for the detection of COVID-19 infection in adults as well as children. It delivers results in 15 minutes, is 93% sensitive and is used to detect infection in asymptomatic patients.
 

More than 300 million of these tests have been shipped globally. Thus, increased testing demand for new product launches will propel the market expansion. Furthermore, as COVID-19 is a respiratory disorder, most COVID-19 detection tests require a nasopharyngeal specimen for enhanced specificity, boosting the industry landscape.
 

Rising diagnostic center visits for the accurate diagnosis will boost the overall industry progression

The COVID-19 detection kits market based on end-use is classified as diagnostic centers, hospitals, and others. The diagnostic centers segment accounted for around USD 10.6 billion in 2021. This is owing to the ease of COVID-19 detection in diagnostic centers and the constantly increase in the testing capacity of diagnostic centers.
 

In addition, these centers are well equipped with various reagents and other instruments used for the diagnosis of infection. Also, diagnostic centers have trained experts that ensure accurate diagnosis of infection. Thus, the number of people opting for diagnostic centers is increasing as there are chances of getting an infection within hospitals. Such factors increase the demand for COVID-19 detection kits in diagnostic centers, thereby propelling the overall industry statistics.
 

Rising healthcare awareness in North America will enhance the market forecasts

North America COVID-19 Detection Kits Market, By Country

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North America COVID-19 detection business captured 17% market share in 2021. The regional growth is owing to the presence of well-equipped, sophisticated healthcare facilities in the U.S. and Canada. Also, the increasing healthcare expenditure due to rising awareness will augment the market share. Moreover, the increasing prevalence of COVID-19 infections along with rising healthcare spending is expected to boost the market outlook in the forthcoming years.
 

For instance, according to the data published by USA Facts, there were 67,008 confirmed cases of COVID-19 infection on February 25, 2022. This number is increasing every day, thus increasing the demand for COVID-19 detection kits. All these factors along with the technological advancements in virus detection technologies increase the demand for COVID-19 detection kits, thereby propelling the regional market statistics.
 

The COVID-19 detection kits industry is flooded with several global companies offering similar products

Some of the major industry players operating in the COVID-19 detection kits market are BGI, Abbott Laboratories, Qiagen, Quidel Corporation, GenMark Diagnostics, Seegene, Shenzhen Bioeasy Biotechnology Guangzhou Wondfo Biotech, BioFire Diagnostics, F. Hoffmann-La Roche, Mylab Discovery Solutions, Randox Laboratories, Cepheid, Co-Diagnostics, SD Biosensor, and Thermo Fisher Scientific among others.
 

These market participants are implementing various growth strategies, mergers and acquisitions, collaborations, and launches to enhance product capabilities to sustain market competition in the COVID-19 detection kits industry. For instance, in January 2022, Roche Diagnostics India announced the launch of COVID-19 At-Home Test Kit to detect all SARS-CoV-2 variants including the Omicron. This product launch helped the company to strengthen its product portfolio thus generating more revenue.
 

Some of the recent industry developments:

  • In February 2021, Thermo Fisher Scientific launched CE-IVD-Marked TaqPath COVID-19 HT Kit. It is a high-throughput COVID-19 diagnostic assay compatible with the Amplitude platform for accurate and reliable testing. This product launch helped company to capture more market share.
     
  • In July 2020, Mylab Discovery Solutions launched Pathocatch COVID-19 antigen rapid testing kit. This kit was developed in partnership with Gujarat-based LabCare Diagnostics. Such development helped the company to boost its market position.
     

The COVID-19 detection kits market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2020 to 2028, for the following segments:

By Product

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

By Specimen Type

  • Nasopharyngeal Swab
  • Oropharyngeal Swab
  • Nasal Swab
  • Others

By End-use

  • Hospitals
  • Diagnostic Centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Austria
    • Portugal
    • Sweden
    • Norway
    • Russia
    • Denmark
    • Poland
    • Switzerland
    • Turkey
    • Belgium
    • Netherlands
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Malaysia
    • Philippines
    • Indonesia
    • Thailand
    • Singapore
  • Latin America
    • Brazil
    • Chile
    • Peru
    • Mexico
  • Middle East and Africa
    • South Africa
    • Iran
    • Israel
    • UAE
    • Qatar
    • Iraq
       
Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for COVID-19 detection kits exceeded USD 32.3 billion in 2021 and is anticipated to exhibit a CAGR of -17.8% between 2022 and 2028 owing to the increasing cases of infectious diseases across the globe.

RT-PCT assay kits market accounted for nearly 76% of the industry share in 2021 and will grow with an upsurge in the launch of technologically advanced products.

North America market for COVID-19 detection kits held around 17% of the overall industry size in 2021 and is expected to record lucrative growth driven by the presence of sophisticated healthcare facilities in Canada and the U.S.

Leading companies across the COVID-19 detection kits industry include Quidel Corporation, BioFire Diagnostics, Mylab Discovery Solutions, Abbott Laboratories, Thermo Fisher Scientific, GenMark Diagnostics, BGI, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 17
  • Tables & Figures: 306
  • Countries covered: 38
  • Pages: 190

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