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COVID-19 Detection Kits Market Trends

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

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COVID-19 Detection Kits Market Trends

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.

Authors: Mariam Faizullabhoy

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.