COVID Testing Kit Market Research Report - Forecast till 2030

COVID Testing Kit Market Size, Growth and Trends Analysis by Type (Rapid Test Kit, RT-PCR and others), Application (Hospitals, Clinics and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2030

ID: MRFR/HC/8237-CR | June 2020 | Region: Global | 171 pages         

COVID Testing Kit Market

COVID Testing Kit Market is expected to reach USD 122,820.67 Million by 2030 at a CAGR of 7.20%

Segmentation

By Type Rapid Test Kit RT-PCR
By Application Hospitals Clinics Others
By Region Americas Europe Asia-Pacific Middle East & Africa

Key Players

  • Abbott (US)
  • BioMérieux SA (France)
  • Bio-Rad Laboratories
  • Chembio Diagnostic Systems Inc. (US)
  • Danaher Corporation (US)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • GenMark (US)
  • Henry Schein Inc. (US)
  • Thermo Fisher Scientific Inc. (US)
  • Qiagen (Germany)

Drivers

  • Rising number of emergency use authorizations for diagnostic kits & devices
  • Developments & support by non-medical device/diagnostic companies
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COVID Testing Kit Market Synopsis


COVID Testing Kit Market is expected to reach USD 122,820.67 Million by 2030 at a CAGR of 7.20%, says Market Research Future (MRFR). The COVID-19 pandemic has produced an ongoing public health problem on a global scale. Diagnostic testing remains a critical pillar during the stage of deconfinement and societal transformations, and beyond. The diagnostic sector is committed to contributing and partnering with governments and other stakeholders to help safeguard people's lives and health as the world continues to fight the pandemic. The need for COVID-19 diagnostic kits is expected to increase further as the number of coronavirus-infected individuals increases, particularly in light of the global ease of lockdown.


Due to the fact that COVID viruses are continually evolving and new diseases are being found, there is a significant demand for COVID testing diagnostic kits. As living conditions improve and the population ages, there is an increase in demand for chronic disease diagnosis and management; the burden of illness is shifting. All of these factors should result in profitable growth opportunities for makers of COVID diagnostic kits. Despite improvements in healthcare infrastructure, there is a deficit of critical equipment to fulfill global demand, as well as a shortage of experienced employees in the research and development sector. This is projected to restrain the future growth of the COVID testing diagnostic kits market.


COVID Testing Kit Market Dynamics


Factors such as restrictions on the export of diagnostic kits and the accuracy of tests are expected to restrict the COVID testing kit market growth during the forecast period. However, the development of quick, accurate, & affordable results and collaboration of major players with small players pose as opportunities for the COVID testing kit market.


Many governments as well as private organizations are providing funds and other support for research and development of new diagnostic kits & devices so that more people who are suspected of suffering from the disease can be tested and the outbreak can be curbed.



  • As on May 7, Apple, an American multinational technology company, has announced a plan to donate USD 10 million from its advanced manufacturing fund to COPAN Diagnostics, a California-based leading supplier of bacteriology swabs, viral transport media, and molecular transport systems, for the company to vastly scale up its production of testing kits. The companies aim to expand production to more than one million kits per week by early July



  • On 8 April 2020, the Department of Science and Technology (DST), India announced that approximately USD 26.42 million to various scientific institutions, industries, and startups to build innovative solutions to fight against the COVID-19 pandemic. These solutions include rapid & accurate diagnosis kits (paper-based and other point-of-care devices) and other treatment solutions, protection equipment, and other necessary solutions


COVID Testing Kit Market, by Application, 2020 (%)
COVID Testing Kit Market


Source: MRFR Analysis


COVID Testing Kit Market Segmentation


COVID Testing Kit Market is segmented based on Type, and Application.


COVID Testing Kit Market, By Type, has been segmented into rapid test kit, RT-PCR, and others. The rapid test kit segment is expected to hold maximum share owing to low turnaround time and an increase in the product approvals and launches.


The COVID testing kit market, by application, has been segmented into hospitals, clinics, and others. The hospital segment accounted for the largest market share owing to the high adoption of advanced diagnostic technologies among healthcare professionals.


Asia-Pacific COVID Testing Kit Market Share, by Country, 2020 (%)


COVID Testing Kit Market


Source: MRFR Analysis


COVID Testing Kit Market Regional Analysis


COVID Testing Kit, based on region, has been divided into Europe, the Americas, Asia-Pacific, and the Middle East & Africa.


The European market for the COVID testing kit market, by country, been divided into Russia, Germany, Spain, Italy, the UK, France, and the Rest of Europe. In 2020, Europe accounted for the largest market share in the global COVID testing kit market. The high COVID-19 morbidity and mortality observed among residents in long-term care facilities (LTCF) in EU/EEA countries pose a major challenge for disease prevention and control in such settings, which raises the demand for the wide availability of diagnostics for immediate detection of COVID-19 cases.


The Americas COVID testing kit market has been divided, by country, into North America and Latin America. The North American market has been further divided into the US and Canada, whereas the Latin American market is sub-segmented into Brazil, Argentina, Mexico, Colombia, and the rest of Latin America. The growth of the COVID testing kit market in Americas is due to a rapid outbreak of highly infectious acute respiratory disease COVID-19, the presence of major manufacturers, raising awareness of advanced technology, and rising product launches by major players, and ongoing public and private organizations' efforts to control the spread of the virus. For instance, in March 2020, the US FDA issued a EUA for a molecular point of care test kit by Abbott for the rapid detection of COVID-19.


The Asia-Pacific market for the COVID testing kit market has been further divided into India, Australia, South Korea, Japan, China, Malaysia, Thailand, Vietnam, Indonesia, Philippines, Taiwan, and Rest of Asia-Pacific. With an increasing number of cases, governments across the Asia-Pacific countries are exploring the opportunities of allowing private laboratories to ramp up testing. In India, the Indian Council of Medical Research (ICMR) has approved 51 private laboratories for COVID-19 testing on March 31, 2020.


The Middle East & Africa COVID testing kit market has been bifurcated into the Middle East and Africa. The Middle Eastern market for the COVID testing kit has been further divided into Turkey, the United Arab Emirates, Saudi Arabia, and the Rest of the Middle East. Rising cases are set to push the demand for testing kits. For instance, as on 8th June 2020, the total cases in Turkey stood at 171,121


COVID Testing Kit Market Key Players


The Prominent Players in the COVID testing kit market are Abbott (US), BioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Chembio Diagnostic Systems, Inc. (US), Danaher Corporation (US), F. Hoffmann-La Roche Ltd (Switzerland), GenMark (US), Henry Schein, Inc. (US), Thermo Fisher Scientific Inc. (US), Qiagen (Germany), Siemens AG (Germany), Guangzhou Wondfo Biotech (China), Robert Bosch GmbH (Germany), Cellex (US), Mayo Clinic Laboratories (US), Mount Sinai Laboratory (US), Zhejiang Orient Gene Biotech Co., Ltd. (China), Dynamiker Biotechnology (Tianjin) Co., Ltd (China), Biomedomics Inc. (US), Safecare Biotech (Hangzhou) Co., Ltd (China), Ortho Clinical Diagnostics (US), Innovita Biological Technology Co., Ltd (China), Guangdong Hecin Scientific, Inc. (China), Advaite, Inc. (US), Mylab Discovery Solutions Pvt. Ltd (India), BGI Group (China), and others.


Some of the key strategies followed by players operating in the COVID Testing Kit market were FDA approvals, joint ventures, expansions, and collaborations among others.


Recent Development

February 2022:
 Labcorp, a life sciences business, is partnering with Walgreens to provide free Covid-19 at-home collection PCR test kits to patients who meet clinical standards. In conjunction with the US Department of Health and Human Services, the Pixel by Labcorp COVID-19 at-home collection kits are being made available nationwide (HHS).


March 2022: Tata Medical and Diagnostics announced today that its OmiSure Covid-19 (RT-PCR) test has been improved to detect the Omicron (or BA.1) version of the Covid-19 virus, which has fast become the dominant variant. As a result, the OmiSure kit is now capable of detecting all Omicron sub-lineages found in India.


Market Segmentation


COVID Testing Kit Market, by Type



  • Rapid Test Kit

  • RT-PCR

  • Others


COVID Testing Kit Market, by Application



  • Hospitals

  • Clinics

  • Others


COVID Testing Kit Market, by Region



  • Americas

    • US

    • Canada



    • Brazil

    • Argentina

    • Mexico

    • Colombia

    • Rest of Latin America




    • North America

    • Latin America




  • Europe


    • Russia

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific


    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Malaysia

    • Thailand

    • Vietnam

    • Indonesia

    • Philippines

    • Taiwan

    • Rest of Asia-Pacific




  • Middle East & Africa


    • Middle East

    • Turkey

    • United Arab Emirates

    • Saudi Arabia

    • Rest of Middle East




  • Africa


Available Additional Customizations



  • Mega Trends in the Market

  • Investment Opportunities

  • Pricing Analysis

  • Market Volume Analysis


Intended Audience



  • Hospitals

  • Pharmaceutical companies

  • Medical device companies

  • Contract research organizations

  • Research & development organizations

  • Academic institutes



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 122,820.67 Million
  CAGR   7.20% (2020-2030)
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Abbott (US), BioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Chembio Diagnostic Systems, Inc. (US), Danaher Corporation (US), F. Hoffmann-La Roche Ltd (Switzerland), GenMark (US), Henry Schein, Inc. (US), Thermo Fisher Scientific Inc. (US), Qiagen (Germany), Siemens AG (Germany), Guangzhou Wondfo Biotech (China), Robert Bosch GmbH (Germany), Cellex (US), Mayo Clinic Laboratories (US), Mount Sinai Laboratory (US), Zhejiang Orient Gene Biotech Co., Ltd. (China), Dynamiker Biotechnology (Tianjin) Co., Ltd (China), Biomedomics Inc. (US), Safecare Biotech (Hangzhou) Co., Ltd (China), Ortho Clinical Diagnostics (US), Innovita Biological Technology Co., Ltd (China), Guangdong Hecin Scientific, Inc. (China), Advaite, Inc. (US), Mylab Discovery Solutions Pvt. Ltd (India), BGI Group (China)
  Key Market Opportunities   development of quick, accurate, & affordable results and collaboration of major players with small players
  Key Market Drivers

  • Rising number of emergency use authorizations for diagnostic kits & devices
  • developments & support by non-medical device/diagnostic companies


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    Frequently Asked Questions (FAQ) :

    A CAGR of 7.20% is calculated for the global COVID testing kit market.

    The COVID testing kit market will generate revenue of USD 122,820.67 Million by 2030.

    The factors such as accurate, development of quick & affordable results, and collaboration of significant players with small players are influencing the market growth during the forecast period.

    The segments mentioned in the global COVID testing kit market study are type and Application.

    Europe, Asia-Pacific, the Americas, and the Middle East & Africa are the regions mentioned in the study of the market.