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The North America coronavirus test kits market size is forecast to increase by USD -1419 million, at a CAGR of -71.7% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2020-2022 and forecasts 2024-2028 - in the full report.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2020-2022 for the following segments.
The government segment is estimated to witness significant growth during the forecast period.
In response to the ongoing COVID-19 pandemic, governments at all levels have significantly increased their consumption of coronavirus test kits for public health initiatives. These programs, which include testing for both symptomatic and asymptomatic individuals, have led to a surging demand for test kits. One notable example is the White House's introduction of COVIDTests.Gov in January 2022, which enabled American households to order free at-home test kits, resulting in a substantial requirement for these kits from the federal government. Antibody tests, negative controls, and the limit of detection are essential components of these test kits, ensuring diagnostic accuracy. Assay validation and false positive rate are critical factors in the selection and implementation of these tests.
Saliva sample collection has emerged as a convenient and non-invasive alternative to nasal or throat swabs for some tests, while RT-PCR technology and reverse transcription form the basis of molecular diagnostic tests. FDA EUA authorization and CE marking certification are essential regulatory approvals for these test kits, ensuring their safety and efficacy. Home testing kits have gained popularity due to their convenience, while storage conditions and sample processing are crucial factors in maintaining test kit specificity. Point-of-care testing and rapid diagnostic tests offer quick results, making them valuable tools in controlling the spread of the virus. Quality control measures, such as internal controls and positive and negative controls, are essential in ensuring test kit sensitivity and diagnostic accuracy.
The supply chain management of test kit components, including reagents and buffers, is a critical aspect of the market's dynamics. Sample collection methods, such as oropharyngeal and nasopharyngeal swabs, are essential for accurate test results. Data analysis software plays a crucial role in interpreting test results and understanding the false negative and false positive rates. Molecular diagnostic tests, such as PCR amplification and nucleic acid extraction, are essential in identifying the presence of the virus. Antigen detection tests offer an alternative, faster testing method, while test kit sensitivity and transportation requirements are essential considerations for their implementation. In conclusion, the coronavirus test kit market is experiencing significant growth due to the ongoing pandemic and the need for widespread testing.
The market's dynamics are influenced by various factors, including test kit components, regulatory approvals, sample collection methods, and quality control measures.
The Government segment was valued at USD 3836.00 million in 2020 and showed a gradual increase during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market forecasting 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market continues to evolve as new developments emerge in the fight against the global pandemic. Kit components, such as reagents and buffers, play a crucial role in ensuring diagnostic accuracy through techniques like reverse transcription and PCR amplification. CE marking certification and FDA EUA authorization are essential for market entry, while home testing kits offer convenience and accessibility. Serological testing, which detects antibodies, complements molecular diagnostic tests that identify the virus itself. Home testing kits require careful sample processing and storage conditions to maintain test kit specificity. Supply chain management is a critical factor, with transportation requirements and just-in-time delivery essential for maintaining a steady supply of test kits.
Negative and positive controls, internal and external, are vital for assay validation and quality control measures. Nucleic acid extraction and data analysis software are integral to molecular diagnostic tests, while saliva sample collection and oropharyngeal or nasopharyngeal swab collection methods are essential for accurate results. The market's dynamics are continually unfolding, with new testing technologies and applications emerging. For instance, antigen detection tests offer rapid results, while RT-PCR technology remains the gold standard for diagnostic accuracy. The false positive and false negative rates, along with test kit sensitivity, are essential metrics for evaluating test performance. In summary, the market is a dynamic and evolving landscape, with various sectors and applications requiring different testing methods and techniques.
The ongoing challenge is to maintain diagnostic accuracy while ensuring efficient supply chain management, rigorous quality control measures, and adherence to regulatory requirements.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Coronavirus Test Kits Market in North America insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2023 |
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Historic period |
2020-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Decelerate at a CAGR of -71.7% |
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Market growth 2024-2028 |
USD -1419 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
-88.9 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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