Global 2019-nCoV Test Kit Market, By Product (Nucleic Acid Test Kit, and Antibody Test Kit), By End User (Hospital, Scientific Research, and Diagnostic Centre) and opportunities and forecast 2020-2027
2019-nCoV Test Kit Market Overview
The global 2019-nCoV Test Kit Market is expected to grow at a moderate rate during the forecast period. Growing awareness and demand for 2019-nCoV Test Kit in the healthcare sector is boosting the growth of the global 2019-nCoV Test Kit market. An increasing number of incidences of COVID-19 leads the test kits grow in the coming years.
Moreover, governments in many countries are supporting and taking initiatives for the adoption of 2019-nCoV Test Kit in the healthcare sector, which is the important factor expected to boost the growth of the market in near future. In addition to this, growing health care expenditure is further driving the expansion of this market globally.
On the other hand, a lack of awareness among patients for healthcare along with the challenges associated with the usage of test kits is likely to hamper the global 2019-nCoV Test Kit Market during the forecast period.
Covid-19 Impact on 2019-nCoV Test Kit Market:
In addition, the current 2019-nCoV Test Kit Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the 2019-nCoV Test Kit Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
2019-nCoV Test Kit Market Segment Overview
According to Product types, the market is segmented into nucleic acid test kits and antibody test kits. Among these antibody test kits holds the largest share of the market mainly because it helps in detecting if any particular individual has been previously infected with COVID-19. It helps in identifying the total number of individuals who were in their lifetime infected by the coronavirus disease.
Based on end users, the market is categorised into hospital, scientific research, and diagnostic centre. Furthermore, hospital segment is expected to gain highest revenue in the coming years. Increase in preference of both inpatients and outpatients for hospitals is boosting the demand for 2019-nCoV Test Kit Market globally. In addition, greater patient outflow in the hospitals would help the 2019-nCoV Test Kit generate higher revenue during the forecast period.
Market Analysis, Insights and Forecast – By Product · Nucleic Acid Test Kit · Antibody Test Kit
Market Analysis, Insights, and Forecast – By End-user · Hospital · Scientific Research · Diagnostic Centre
2019-nCoV Test Kit Market Regional Overview
Region-wise, North America dominated the global 2019-nCoV Test Kit Market and is expected to continue its dominance during the forecast period. Factors such as the rising number of incidences of COVID-19 infections in the healthcare sector around the world, and high health care expenditure propels the growth of the market in North America. Similarly, Asia Pacific is also expected to account for the fastest growth in the global market owing to well-established health care infrastructure. Factors such as development in the health care infrastructure, rising awareness about health, a surge in investment in pharmaceuticals and diagnostics, and growing adoption of test kits are expected to escalate the growth of the 2019-nCoV Test Kit Market in the Asia Pacific region.
2019-nCoV Test Kit Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
2019-nCoV Test Kit Market Competitor overview
Some key developments and strategies adopted by manufacturers in the 2019-nCoV Test Kit Market are highlighted below.
· In November 2020, the U.S. Food and Drug Administration issued an emergency use authorization (EUA) for the first COVID-19 diagnostic test for self-testing at home and that provides rapid results. The Lucira COVID-19 All-In-One Test Kit is a molecular (real-time loop mediated amplification reaction) single use test that is intended to detect the novel coronavirus SARS-CoV-2 that causes COVID-19.