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Coronavirus or COVID-19 is an infectious disease caused by SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) that can trigger a respiratory tract infection. It affects the upper respiratory tract including sinuses, nose, and throat or lower respiratory tract including windpipe and lungs. The production and demand for diagnostic test kits has surged ever since the World Health Organization (WHO) declared infections caused by SARS-CoV-2 a pandemic in March. The spike in the number of coronavirus cases has further led to increase the demand for coronavirus real-time detection kits across the globe. Furthermore, growing elderly population, and those with underlying medical problems such as cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop this serious illness. Thus, there is rapid demand for early detection of the disease which is expected to fuel the growth of the market in the future. However, low sensitivity of immunoassay based test will hinder the growth of the market in the next few years.
The aim of the report is to estimate the market size for coronavirus real-time detection kits and the future growth potential of the market for coronavirus real-time detection kits across various segments, such as product, sample type, and end-users.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. Factors such as growing prevalence of COVID-19 worldwide, along with increase in prevalence of chronic diseases such as diabetes, asthma, cancer, and cardiac diseases, rise in geriatric population susceptible to these diseases are the key drivers of the coronavirus real-time detection kits market.
By product, real-time PCR assay kits held substantial share of the global coronavirus real-time detection kits market owing to its high sensitivity and specificity. RT-PCR is a gold standard frontline test for detection of coronavirus. A RT-PCR assay test is a real-time reverse transcription polymerase chain reaction test for qualitative detection of nucleic acid from SARS-CoV-2 in lower and upper respiratory specimens.
Asia Pacific dominated the global coronavirus real-time detection test kits market in 2019. The dominant share is attributable to continuously increasing incidence of coronavirus cases in developing countries such as China and India. For instance, there were 217,606 coronavirus cases in India, as of June 2020. Moreover, presence of local manufacturers offering real-time PCR test kits is expected to fuel growth of the market in the region. For instance, in March 2020, Mylab Discovery became the first company in India to earn approval for its COVID-19 diagnostic kits. The kits, also known as RT-PCR assay kits have received CDSCO (Central Drugs Standard Control Organization) approval.
North America is projected to witness lucrative growth over the coming years owing to large number of COVID-19 infected patients in the U.S. and Canada. For instance, as of June 2020, the U.S. had more than 1.8 million coronavirus cases and around 105,000 deaths whereas Canada had 93,000 cases and about 7,400 deaths due to coronavirus. This is likely to augment the growth of the market in the region.
It is known that the major players in the industry are making heavy investments in research projects, which is expected to ensure market growth during the forecast period. Industry players are focused on developing novel diagnostic test kits which in the coming years will further increase the overall growth of the market.
Key Segments of the Global Coronavirus Real-Time Detection Kits Market
Product Overview, 2018-2028 (USD Million)
Sample Type Overview, 2018-2028 (USD Million)
End-user Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
Important Companies in Global Coronavirus Real-Time Detection Kits Market
Reasons for the study
What does the report include?
Who should buy this report?
Coronavirus or COVID-19 is an infectious disease caused by SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) that can trigger a respiratory tract infection. It affects the upper respiratory tract including sinuses, nose, and throat or lower respiratory tract including windpipe and lungs. The production and demand for diagnostic test kits has surged ever since the World Health Organization (WHO) declared infections caused by SARS-CoV-2 a pandemic in March. The spike in the number of coronavirus cases has further led to increase the demand for coronavirus real-time detection kits across the globe. Furthermore, growing elderly population, and those with underlying medical problems such as cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop this serious illness. Thus, there is rapid demand for early detection of the disease which is expected to fuel the growth of the market in the future. However, low sensitivity of immunoassay based test will hinder the growth of the market in the next few years.
The aim of the report is to estimate the market size for coronavirus real-time detection kits and the future growth potential of the market for coronavirus real-time detection kits across various segments, such as product, sample type, and end-users.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. Factors such as growing prevalence of COVID-19 worldwide, along with increase in prevalence of chronic diseases such as diabetes, asthma, cancer, and cardiac diseases, rise in geriatric population susceptible to these diseases are the key drivers of the coronavirus real-time detection kits market.
By product, real-time PCR assay kits held substantial share of the global coronavirus real-time detection kits market owing to its high sensitivity and specificity. RT-PCR is a gold standard frontline test for detection of coronavirus. A RT-PCR assay test is a real-time reverse transcription polymerase chain reaction test for qualitative detection of nucleic acid from SARS-CoV-2 in lower and upper respiratory specimens.
Asia Pacific dominated the global coronavirus real-time detection test kits market in 2019. The dominant share is attributable to continuously increasing incidence of coronavirus cases in developing countries such as China and India. For instance, there were 217,606 coronavirus cases in India, as of June 2020. Moreover, presence of local manufacturers offering real-time PCR test kits is expected to fuel growth of the market in the region. For instance, in March 2020, Mylab Discovery became the first company in India to earn approval for its COVID-19 diagnostic kits. The kits, also known as RT-PCR assay kits have received CDSCO (Central Drugs Standard Control Organization) approval.
North America is projected to witness lucrative growth over the coming years owing to large number of COVID-19 infected patients in the U.S. and Canada. For instance, as of June 2020, the U.S. had more than 1.8 million coronavirus cases and around 105,000 deaths whereas Canada had 93,000 cases and about 7,400 deaths due to coronavirus. This is likely to augment the growth of the market in the region.
It is known that the major players in the industry are making heavy investments in research projects, which is expected to ensure market growth during the forecast period. Industry players are focused on developing novel diagnostic test kits which in the coming years will further increase the overall growth of the market.
Key Segments of the Global Coronavirus Real-Time Detection Kits Market
Product Overview, 2018-2028 (USD Million)
Sample Type Overview, 2018-2028 (USD Million)
End-user Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
Important Companies in Global Coronavirus Real-Time Detection Kits Market
Reasons for the study
What does the report include?
Who should buy this report?
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
3.4. Regulatory Landscape
3.5. COVID-19 Impact Analysis
4. Coronavirus Real-Time Detection Kits Market by Product, 2018-2028 (USD Million)
4.1. RT-PCR Assay Kits
4.2. Immunoassay Test Strips/Cassettes
5. Coronavirus Real-Time Detection Kits Market by Sample Type, 2018-2028 (USD Million)
5.1. Nasopharyngeal Swab
5.2. Oropharyngeal Swab
5.3. Nasal Swab
5.4. Others
6. Coronavirus Real-Time Detection Kits Market by End-user, 2018-2028 (USD Million)
6.1. Hospitals
6.2. Laboratories
6.3. Diagnostic Centers & Clinics
6.4. Others
7. Coronavirus Real-Time Detection Kits Market by Region, 2018-2028 (USD Million)
7.1. North America
7.1.1. US
7.1.2. Canada
7.2. Europe
7.2.1. UK
7.2.2. Germany
7.2.3. France
7.2.4. Spain
7.2.5. Italy
7.2.6. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. Rest of APAC
7.4. Latin America
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of Latin America
7.5. Middle East & Africa
7.5.1. GCC
7.5.2. South Africa
7.5.3. Rest of Middle East & Africa
8. Competitive Landscape
8.1. Company Ranking/Market Share Analysis
8.2. Strategic Initiatives
8.2.1. Mergers & Acquisitions
8.2.2. New Product Launch
8.2.3. Investments
8.2.4. Expansion
8.2.5. Others
9. Company Profiles
9.1. Thermo Fisher Scientific
9.1.1. Overview
9.1.2. Products Portfolio
9.1.3. Recent Initiatives
9.1.4. Company Financials
9.2. F.Hoffmann La Roche Ltd.
9.3. Perkin Elmer, Inc.
9.4. Luminex Corporation
9.5. Abbott Laboratories
9.6. Quidel Corporation
9.7. Becton, Dickinson and Company
9.8. Veredus Laboratories
9.9. DiaSorin
9.10. Takara Bio Inc.
9.11. Mylab Discovery Solutions Pvt Ltd.
9.12. Other Prominent Players