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COVID-19 Rapid Test Kits Global Market Report 2020-30: COVID-19 Implications and Growth

  • ID: 5129279
  • Report
  • July 2020
  • Region: Global
  • The Business Research Company

FEATURED COMPANIES

  • Abbott Laboratories
  • Biomaxima
  • Cepheid Inc.
  • F. Hoffmann-La Roche AG
  • Hologic, Inc.
  • QIAGEN
COVID-19 Rapid Test Kits Global Market Report 2020-30: COVID-19 Implications and Growth provides the strategists, marketers and senior management with the critical information they need to assess the global COVID-19 rapid test kits market.

This report focuses on COVID-19 rapid test kits market which is experiencing strong growth. The report gives a guide to the COVID-19 rapid test kits market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the COVID-19 rapid test kits? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The COVID-19 Rapid Test Kits market global answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider COVID-19 rapid test kits market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The COVID-19 rapid test kits market section of the report gives context. It compares the COVID-19 rapid test kits market with other segments of the COVID-19 rapid test kits market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, COVID-19 rapid test kits indicators comparison.

Scope

Markets Covered:
1) By Test Type: Rapid Antigen Test; Rapid Antibody Test; Others
2) By Kit Type: Equipment and Extraction Kits; rRT-PCR Test Kits; Reagents
3) By Specimen Type: Nasopharyngeal swab; Oropharyngeal swab; Nasal swab; Others
4) By End-Users: Hospitals and Clinics; Diagnostic laboratories; Home Care; Others

Companies Mentioned: Thermo Fisher Scientific; Abbott Laboratories; BioMedomics; CTK Biotech; F. Hoffmann-La Roche AG

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • Biomaxima
  • Cepheid Inc.
  • F. Hoffmann-La Roche AG
  • Hologic, Inc.
  • QIAGEN

1. Executive Summary2. COVID19 Rapid Test Kits Market Characteristics
3. COVID19 Rapid Test Kits Market Size And Growth
3.1. Global COVID19 Rapid Test Kits Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global COVID19 Rapid Test Kits Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. COVID19 Rapid Test Kits Market Segmentation
4.1. Global COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Rapid Antigen Test
  • Rapid Antibody Test
  • Others
4.2. Global COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Equipment and Extraction Kits
  • rRT-PCR Test Kits
  • Reagents
4.3. Global COVID19 Rapid Test Kits Market, Segmentation By Specimen Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Nasopharyngeal swab
  • Oropharyngeal swab
  • Nasal swab
  • Others
4.4. Global COVID19 Rapid Test Kits Market, Segmentation By End-Users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Hospitals and Clinics
  • Diagnostic laboratories
  • Home Care
  • Others

5. COVID19 Rapid Test Kits Market Regional And Country Analysis
5.1. Global COVID19 Rapid Test Kits Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global COVID19 Rapid Test Kits Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific COVID19 Rapid Test Kits Market
6.1. Asia-Pacific COVID19 Rapid Test Kits Market Overview
6.2. Asia-Pacific COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6.3. Asia-Pacific COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
7. China COVID19 Rapid Test Kits Market
7.1. China COVID19 Rapid Test Kits Market Overview
7.2. China COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion
7.3. China COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion
8. India COVID19 Rapid Test Kits Market
8.1. India COVID19 Rapid Test Kits Market Overview
8.2. India COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
8.3. India COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
9. Japan COVID19 Rapid Test Kits Market
9.1. Japan COVID19 Rapid Test Kits Market Overview
9.2. Japan COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
9.3. Japan COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10. Australia COVID19 Rapid Test Kits Market
10.1. Australia COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.2. Australia COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
11. Indonesia COVID19 Rapid Test Kits Market
11.1. Indonesia COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
11.2. Indonesia COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
12. South Korea COVID19 Rapid Test Kits Market
12.1. South Korea COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
12.2. South Korea COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
13. Western Europe COVID19 Rapid Test Kits Market
13.1. Western Europe COVID19 Rapid Test Kits Market Overview
13.2. Western Europe COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
13.3. Western Europe COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
14. UK COVID19 Rapid Test Kits Market
14.1. UK COVID19 Rapid Test Kits Market Overview
14.2. UK COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
14.3. UK COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
15. Germany COVID19 Rapid Test Kits Market
15.1. Germany COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
15.2. Germany COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
16. France COVID19 Rapid Test Kits Market
16.4. France COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
16.5. France COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
17. Eastern Europe COVID19 Rapid Test Kits Market
17.1. Eastern Europe COVID19 Rapid Test Kits Market Overview
17.2. Eastern Europe COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
17.3. Eastern Europe COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
18. Russia COVID19 Rapid Test Kits Market
18.1. Russia COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
18.2. Russia COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
19. North America COVID19 Rapid Test Kits Market
19.1. North America COVID19 Rapid Test Kits Market Overview
19.2. North America COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
19.3. North America COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
20. USA COVID19 Rapid Test Kits Market
20.1. USA COVID19 Rapid Test Kits Market Overview
20.2. USA COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
20.3. USA COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
21. South America COVID19 Rapid Test Kits Market
21.1. South America COVID19 Rapid Test Kits Market Overview
21.2. South America COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
21.3. South America COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
22. Brazil COVID19 Rapid Test Kits Market
22.1. Brazil COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
22.2. Brazil COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
23. Middle East COVID19 Rapid Test Kits Market
23.1. Middle East COVID19 Rapid Test Kits Market Overview
23.2. Middle East COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
23.3. Middle East COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
24. Africa COVID19 Rapid Test Kits Market
24.1. Africa COVID19 Rapid Test Kits Market Overview
24.2. Africa COVID19 Rapid Test Kits Market, Segmentation By Test Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
24.3. Africa COVID19 Rapid Test Kits Market, Segmentation By Kit Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
25. COVID19 Rapid Test Kits Market Competitive Landscape And Company Profiles
25.1. COVID19 Rapid Test Kits Market Competitive Landscape
25.2. COVID19 Rapid Test Kits Market Company Profiles
25.2.1. Thermo Fisher Scientific
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Abbott Laboratories
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. BioMedomics
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. CTK Biotech
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. F. Hoffmann-La Roche AG
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The COVID19 Rapid Test Kits Market27. COVID19 Rapid Test Kits Market Trends And Strategies28. COVID19 Rapid Test Kits Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • Biomaxima
  • Cepheid Inc.
  • F. Hoffmann-La Roche AG
  • Hologic, Inc.
  • QIAGEN
Major players in the COVID-19 rapid test kits market are Thermo Fisher Scientific, Abbott Laboratories, BioMedomics, CTK Biotech, F. Hoffmann-La Roche AG, Cepheid Inc., Cellex Inc., Acumen Research Laboratories, and Biolidics, LabCorp.

The global COVID-19 rapid test kits market is expected to reach $3.52 billion by the end of 2020 and expected to be $4.22 billion by 21 at a compound annual growth rate (CAGR) of 19.7%. The significant growth rate is mainly due to the surge in demand for the rapid test kits for early detection and treatment of COVID-19 globally. The market is then expected to stabilize and reach $4.73 billion in 2023 at a CAGR of 10.36%.

The COVID-19 rapid test kits market consists of sales of rapid test kits used for COVID-19 diagnosis and detection. The COVID-19 rapid test kits are either rapid antigen test kits or rapid antibody test kits manufactured by the entities that manufacture in-vitro rapid diagnostic tests in the medical equipment industry. The companies involved in manufacturing these rapid test kits are primarily engaged in designing, research and production of the rapid test kits which are used in hospitals and clinics, home care, diagnostic laboratories and more.

North America is expected to be the largest region in the COVID-19 rapid test kits market in 2020. Asia-pacific is expected to be the fastest-growing region in the forecast period.

In April 2020, Hememics Biotechnologies Inc., a US-based research and development company announced a partnership with Biomedical Research and Development Authority (BARDA) to develop a rapid antigen and antibody diagnostic tool which is Bluetooth-enabled. Under the partnership, BARDA will contribute $638,000 to Hememics for the manufacturing and scaling up production of the immune biosensor platform, which is a Bluetooth-enabled rapid diagnostic kit that screens people within 60 seconds with a single drop of blood or mucus. Biomedical Advanced Research and Development Authority (BARDA) is an office of US HHS, which takes measures against bioterrorism, epidemic and pandemic diseases.

The COVID-19 rapid test kits market covered in this report is segmented by test type into rapid antigen test; rapid antibody test; others. It is also segmented by kit type into equipment and extraction kits; reagents, by specimen type into nasopharyngeal swab; oropharyngeal swab; nasal swab; blood sample; others, and by end-users into hospitals and clinics; diagnostic laboratories; home care; others.

Product recalls due to quality control issues are expected to hinder the market growth during the forecast period. Rapid medical device approval due to present COVID-19 scenario paves ways to challenges such as product recalls due to safety, efficacy and quality issues. In May 2020, Spartan Bioscience's rapid COVID-19 diagnostic kits which were approved with fast track designation in April 2020 were recalled due to efficacy concerns posed by Health Canada regarding its proprietary swab. Health Canada paused the regulatory approval of the test kit and till then permitted Spartan rapid test kit to be used for research purposes only. In April 2020, India recalled rapid-antibody testing kits imported from China due to efficacy issues, and all the procurement orders from China have also been cancelled. The lack of proper screening and quality assurance along with fast track approval is expected to increase the product recalls which will hinder the market growth.

The incorporation of Artificial Intelligence (AI) algorithms with the rapid diagnostic test kits is expected to boost market growth during the forecast period. In March 2020, Surgisphere announced the availability of a rapid diagnostic intelligent tool for COVID-19 that it developed to utilize three laboratory tests with a sensitivity of 93.7% and specificity of 99.9% to identify patients who are likely to be infected with Coronavirus. Surgisphere created a decision tree analysis to identify patients who are likely to be infected with Coronavirus, using clinical lab data of patients in the QuartzClinical platform which is a cloud-based healthcare data analytics platform. Early detection of patients results in faster treatment and thus saving more lives which can be achieved through the use of artificial intelligence along with the rapid diagnosis test.

Government regulations and steps to provide diversified diagnostic approaches are expected to boost the market growth during the forecast period. Better diagnostics facilities are required to overcome the increasing spread of Covid-19 cases globally, particularly in the rising geriatric population. In March 2020, the FDA has approved decentralized testing platforms to enlarge the testing capabilities across healthcare centres in the US. FDA issued a policy, under which, states can set up their platforms for authorizing the tests developed and the laboratories developing these tests need not engage with the FDA instead will engage with the respective state authorities. National Institutes of Health (NIH) has announced a Rapid Acceleration of Diagnostics (RADx), which is a fast track program for Covid-19 test development and distribution procedure under which it will be funding up to $500 million for the development of innovative SARS-CoV-2 diagnostic tests. Robust funding and investments by the public as well as private agencies for the rapid and innovative development of diagnostics for Covid-19 are expected to further boost the market.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Thermo Fisher Scientific
  • Abbott Laboratories
  • BioMedomics
  • CTK Biotech
  • F. Hoffmann-La Roche AG
  • Cepheid Inc.
  • Cellex Inc.
  • Robert Bosch GmbH
  • Acumen Research Laboratories
  • Biolidics
  • LabCorp
  • Biomaxima
  • Beijing Tigsun Diagnostics Co. Ltd.
  • Getein Biotech
  • QIAGEN
  • Quidel Corporation
  • Hologic, Inc.
  • Primerdesign Ltd.
  • Cosara Diagnostics Pvt. Ltd.
  • AlphaBiolabs Ltd.
  • Quest Diagnostics
  • Seegene Inc.
  • Genematrix
  • RayBiotech
  • GenBody
  • Biopanda
  • Premier Biotech
  • SD Biosensor
  • Epitope Diagnostics
  • Advaite
  • Euroimmun AG
Note: Product cover images may vary from those shown

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