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The market is evolving rapidly with advancements like nucleic acid amplification test (NAAT) and RT-PCR tests for detecting viral genetic material such as SARS-CoV-2 antigen in human nasal samples. These tests enable rapid screening and early detection of infections, crucial for identifying infected individuals and protecting communities. PoC kits are increasingly popular for their user-friendly designs and ability to swiftly detect variants like the Delta variant and Omicron. As demand for efficient diagnostics grows, the Test Kits market continues to expand, ensuring swift and accurate responses to public health challenges worldwide.
The rising focus on preventing the spread of the COVID-19 pandemic is notably driving market growth. Healthcare organizations and governments across the world have created guidelines and protocols for the effective control of the outbreak of pandemics such as COVID-19. These organizations include international and national authorities, such as the WHO and the ECDC. Such organizations mainly focus on supporting the establishment of a standard protocol, framework, and national and international plans for mitigating and preventing the COVID-19 pandemic by ensuring proper diagnostics and treatment to patients globally.
Moreover, the rising focus on the prevention of the spread of the COVID-19 pandemic has led to advances in innovative diagnostic products for coronavirus globally, including in Europe which subsequently resulted in market expansion. These factors will boost the growth of the market in Europe.
Increasing demand for point-of-care diagnostics is an emerging trend shaping the market growth. The novel coronavirus disease (COVID-19) outbreak has posed a major challenge to national and international health authorities across the world, including WHO, the ECDC, and the National Institutes of Health (NIH). These authorities have been making significant efforts to strengthen surveillance to prevent the spread of the disease and increase the diagnostic capacities of laboratories in Europe. Moreover, the lack of testing infrastructure in most European countries has been a major challenge to such initiatives. Diagnostic kit manufacturers are offering antigen detection-based RIDT kits to overcome infrastructure-related issues and are providing efficient coronavirus diagnostic capabilities to healthcare practitioners, irrespective of their geographical location.
For instance, Cepheid Xpert Xpress SARS-CoV-2 is the first coronavirus diagnostic test that can be conducted entirely at the point of care. This US FDA-approved POC testing kit delivers results in about 45 minutes, which is much faster than traditional tests that require a sample to be sent to a centralized lab. Thus, the availability of advanced point-of-care diagnostics products in the market is increasing the adoption of coronavirus test kits by end-users and promoting revenue growth of the market.
Inadequate testing facilities are a significant challenge hindering the market growth. Germany, France, and the UK were some of the worst-affected countries. Countries such as the UK, Italy, France, and Spain witnessed the highest number of COVID-19-related deaths globally due to the high geriatric population and lower testing capacity. The UK and Italy reported almost six times more deaths than China, where the virus first emerged in late 2019. European countries, such as Italy and Spain, were unable to slow down the spread of the contagion due to the focus on people with severe symptoms in areas with a high epidemic intensity.
However, most European countries, including Spain and Italy, have already reported the saturation of their healthcare systems due to the high patient loads requiring intensive care which can restrict the market growth. Thus, inadequate testing facilities can impede the growth of the market in Europe during the forecast period.
The market forecast report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market has experienced unprecedented growth amid the COVID-19 pandemic, driven by diagnostic techniques such as rapid antigen detection tests and RT-PCR assay kits for detecting Coronavirus and its variants like the Delta variant. Developed nations have prioritized vaccinations and booster doses to boost immunization rates, supported by clinical trials and public awareness campaigns endorsed by the World Health Organization. Innovations such as multiplex NAATs and Point-of-Care testing have enhanced testing accuracy and efficiency during rise in cases and the flu season. The market has seen collaborations between biotech leaders like Bharat Biotech, creator of the iNCOVACC intranasal vaccine, known for its cost-effectiveness and ease of administration via nasal drops. As governments navigate the re-opening of borders and tourism, stringent self-precautionary standards and mask mandates remain crucial, reinforcing the role of test kits in infectious disease interventions and healthcare settings worldwide.
Further, the market has seen significant growth amid evolving healthcare needs and challenges such as the rise in COVID-19 cases and efforts to improve immunization rates globally. The market demand for cost-effective solutions has intensified under the Biden administration, which focus on the financial impact of healthcare interventions like nationwide lockdowns and social distancing measures. Test kits catering to various specimen types such as nasopharyngeal swab, oropharyngeal swab, nasal swab, and sputum have become essential in diagnostic centers and hospitals worldwide, facilitating prompt diagnosis and containment efforts. As physician preferences and travel restrictions continue to shape demand, the market remains pivotal in supporting public health responses and ensuring effective management of infectious diseases across diverse healthcare settings.
Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Decelerate at a CAGR of -9.83% |
Market growth 2024-2028 |
USD 8 billion (decline) |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
-12.12 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Biomedicine Science and Technology Co. Ltd., Abbott Laboratories, altona Diagnostics GmbH, BGI Genomics Co. Ltd., Bio Rad Laboratories Inc., BioMerieux SA, BIOSYNEX SA, Bruker Corp., Co Diagnostics Inc, Danaher Corp., Edinburgh Genetics Ltd., F. Hoffmann La Roche Ltd., MultiplexDX, Perkin Elmer Inc., QIAGEN NV, Robert Bosch GmbH, Sd Biosensor Inc., Seegene Inc., Thermo Fisher Scientific Inc., and ZEKMED |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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The Europe Conavirus Test Kits Market size is forecast to decrease by USD 8 billion, at a CAGR of -9.83% between 2023 and 2028. Market dynamics are shaped by rising government funding, intensified efforts to curb the COVID-19 pandemic spread, and a growing number of strategic alliances. Increased government funding bolsters research and development across various sectors, stimulating innovation and economic growth. Concurrently, the global focus on mitigating the COVID-19 pandemic drives investments in healthcare infrastructure, vaccine development, diagnostics, and pandemic preparedness measures. Furthermore, strategic alliances between companies and institutions strengthen collaborative efforts in research, technology transfer, and market expansion. These factors collectively enhance resilience and adaptive capacity in response to global challenges, fostering a conducive environment for sustained market growth and societal resilience against emerging health threats and economic uncertainties. The market forecasting report also covers an in-depth analysis of drivers, trends, and challenges.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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