Get the Pulse of COVID-19 Test Kits Industry

 

Overview

There are several advantages to using test kits. They are inexpensive, easy to operate, and can test for many contaminants in one sample. Some of the simpler models are simple paper test strips, while more sophisticated kits use colorimetric indicator tubes. The latter type of test requires an operator who has knowledge of environmental chemistry. The COVID-19 rapid antigen home test kits contain sodium azide, inorganic phosphate, and Pro-Clin 300. While these chemicals are unlikely to cause human toxicity, they may cause local irritation. For this reason, users should not use these kits for patient care without the supervision of a trained professional.

To Get Complete Industry Insights, Grab Sample PDF Copy Here: https://bit.ly/3KgX6T8

Drivers

Rising incidences of COVID-19 infections across the globe, in parallel to the growing number of virus-related fatalities, are expected to propel the growth of the global COVID-19 test kits market over the forecast period.

Moreover, the growing prominence of rapid testing kits for the detection of virus infection, combined with the accelerated approval pathway for novel testing kits, is expected to boost the growth of the global COVID-19 test kits market during the forecast period. For instance, in April 2022, the South Korean Ministry of Food and Drug Safety (MFDS) approved PCL’s saliva-based COVID-19 test kits to conduct rapid antigen tests at airports to curb the transmission of the virus in the country.

Restraints

The high cost of equipment and the scarcity of specialized professionals are expected to limit the growth of the global COVID-19 test kits market.

Opportunities

Rising demand for at-home rapid antigen test kits amidst increasing spending on medical services is expected to provide lucrative growth opportunities for players in the global COVID-19 test kits market.

Regional Analysis

Asia Pacific is expected to experience robust growth over the forecast period in the global COVID-19 test kits market. Increasing cases of community transmission at public places, a large patient pool, and an accelerated approval pathway for novel products are driving the growth of the COVID-19 test kits market in this region.

North America is expected to witness significant growth during the forecast period in the global COVID-19 test kits market. Rising expenditure on the healthcare sector and an increasing volume of COVID-19 patients are propelling the growth of the COVID-19 test kits market in this region.

Competitive Landscape

Major companies contributing to the global COVID-19 test kits market include Mylab Discovery, Beijing Genomics Institute, Seegene, Danaher, Altona Diagnostics, Geneodx, Wondfo, Hologic, Thermo Fisher Scientific, Quidel, Integrated DNA Technologies, Biomaxima, Qiagen, Cepheid, GenMark Diagnostics, LabCorp., BioMérieux, SD Biosensor, Shanghai BioGerm Medical Biotechnology, Kogenebiotech, Abbott Laboratories, INNOVITA, Roche Diagnostics, and Shanghai Huirui Biotechnology.

Key Developments

• In April 2022, Optum Rx, the pharmaceutical arm of UnitedHealth Group, partnered with the Chicago Department of Public Health to supply 5,000 home-based COVID-19 self-test kits to boost rapid antigen testing across Chicago.

• In May 2022, the Hong Kong Special Administration Region (HKSA) government distributed around 200,000 COVID-19 test kits to cleaning staff, property management employees, and other localities to identify virus infections.