Enjoy complimentary customisation on priority with our Enterprise License!
The coronavirus test kits market size is forecast to decrease by USD 6.81 billion at a CAGR of -72.6% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the rising adoption of rapid coronavirus test kits is driving market expansion, as these tests enable quick and accurate results, which is crucial in controlling the spread of the virus. Secondly, there is an increasing demand for point-of-care diagnostics, which allows for immediate testing and treatment in various healthcare settings, including hospitals, clinics, and even at home. These collaborations enable diagnostic kit manufacturing firms to explore additional opportunities without bearing significant financial burdens. These collaborative endeavors empower diagnostic kit manufacturers to explore additional avenues for growth without shouldering significant financial burdens. Lastly, poor healthcare settings in developing countries present a significant challenge and opportunity for the market, as there is a pressing need for affordable and easy-to-use test kits to help diagnose and contain the virus in these regions.
Overall, the Coronavirus Test Kits market is poised for continued growth as the world continues to grapple with the ongoing pandemic. The market report forecasts market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The market has witnessed significant growth due to the ongoing global health crisis. PoC kits have gained popularity for their convenience and quick results in detecting the virus. Product approval for rapid diagnostics, such as Antigen Rapid Test and Molecular tests like RT-PCR Assay Kits and Immunoassay Test Strips, is a crucial factor driving market growth. Government testing and diagnostic solutions, including confirmatory tests, play a vital role in controlling the spread of the virus. Hospitals, urgent care centers, diagnostic centers, and healthcare facilities are major consumers of these tests. Different specimen types, including Nasopharyngeal Swab, Oropharyngeal Swab, and Nasal Swab, are used for testing. The market for these tests is diverse, with various industry players offering solutions for PoC testing, real-time diagnostics, and in-vitro diagnosis. Patient treatment relies heavily on the accuracy and reliability of these tests. The market for Coronavirus Test Kits is expected to continue its growth trajectory as the world battles the pandemic.
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 government segment is estimated to witness significant growth during the forecast period. The coronavirus test kits market is experiencing significant growth due to the increasing demand for diagnostic solutions in various clinical settings. Rapid diagnostics, such as PoC kits, are gaining popularity for their ability to provide quick results in urgent care centers, hospitals, clinics, and emergency rooms. Product approval for molecular tests, including RT-PCR assay kits and nucleic acid-based tests, is accelerating, enabling wider availability of confirmatory tests. Both antigen and antibody tests, which include PoC testing and real-time diagnostics, are essential for detecting active infections and identifying immunity to the virus.
Get a glance at the market share of various regions Download the PDF Sample
The government segment accounted for USD 10 million in 2018. Government testing initiatives, such as COVIRAP, are utilizing various test types, including saliva/nasal swabs, to increase testing capacity. The emergence of new variants, like the Delta variant, necessitates ongoing testing efforts. Financial assistance and emergency use authorization are facilitating the distribution of testing kits to healthcare workers and enabling the use of advanced technologies, such as mRNA vaccines, for patient treatment. The sensitivity, viral load, and detection rate of these tests are crucial factors in clinical settings, with in-vitro diagnosis playing a vital role in patient care. Specimen type, such as nasopharyngeal and oropharyngeal swabs, also influences test accuracy.
For more insights on the market share of various regions Download PDF Sample now!
Rest of World (ROW) is estimated to contribute 14% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is witnessing significant growth due to the ongoing pandemic. Oropharyngeal Swabs and Nasal Swabs are the commonly used samples for diagnosing COVID-19. Diagnostic centers and healthcare facilities are the major consumers of these test kits, as they cater to both symptomatic and asymptomatic patients. The pandemic not only posed a health risk but also forced businesses and EU institutions to cancel travel and public events and switch to teleworking to slow down the disease spread. The industry players are focusing on developing Antigen Rapid Tests with high specificity and sensitivity to ensure accurate results. These tests are essential for early detection and effective treatment of the virus. The market's growth is driven by the increasing demand for rapid and reliable testing solutions. The high specificity and sensitivity of these tests ensure accurate results, which is crucial for containing the spread of the virus.
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 rising adoption of rapid coronavirus test kits is notably driving market growth. Amidst the ongoing coronavirus pandemic, there is an urgent need for effective diagnostic solutions to ensure timely identification and treatment of infected individuals. Governments worldwide have prioritized increasing testing capacity in clinical settings such as hospitals, urgent care centers, clinics, and emergency rooms. PoC (Point of Care) kits, including rapid antigen and antibody tests, have gained popularity due to their ease of use and quick results. Product approval for these kits has been expedited to meet the demand for real-time diagnostics. Molecular tests, such as RT-PCR (Reverse Transcription Polymerase Chain Reaction), remain the gold standard for confirmatory tests due to their high sensitivity and ability to detect the virus at low viral loads. Nucleic acid-based tests, including RT-PCR assay kits, require nasopharyngeal or oropharyngeal swabs for specimen collection. The assay duration for these tests is typically longer compared to PoC testing. Governments and healthcare organizations have been providing financial assistance to ensure the availability of diagnostic solutions.
For instance, in India, the Indian Council of Medical Research (ICMR) has collaborated with the Council of Scientific and Industrial Research (CSIR) to develop indigenous testing kits, including COVIRAP, an indigenously developed RT-PCR based test kit. The emergence of new variants, such as the Delta variant, has necessitated the development of tests capable of detecting these strains. For instance, some RT-PCR assay kits have received Emergency Use Authorization (EUA) for detecting the Delta variant. Healthcare workers are prioritized for testing due to their increased risk of exposure. The sensitivity and viral load of the specimen play a crucial role in the detection rate of these tests. Saliva/nasal swabs are commonly used for testing due to their ease of collection and minimal invasiveness. Immunoassay test strips are used for antibody detection, providing results within minutes. In conclusion, the coronavirus pandemic has necessitated the development and deployment of various diagnostic solutions, including molecular and PoC tests, to ensure timely detection and treatment of infected individuals. Governments and healthcare organizations are collaborating to increase testing capacity and provide financial assistance to ensure the availability of these solutions. The ongoing development of tests capable of detecting new variants is crucial in managing the pandemic effectively. Thus, such factors are driving the growth of the market during the forecast period.
The increasing demand for point-of-care diagnostics is the key trend in the market. The coronavirus pandemic has necessitated a significant expansion of diagnostic capabilities to ensure timely identification and treatment of infected individuals. Coronavirus test kits have emerged as essential tools in this regard, with various types, including PoC kits, molecular tests, antibody tests, and antigen tests, gaining prominence. Product approval and financial assistance from governments have accelerated the availability of these diagnostic solutions. Rapid diagnostics, such as real-time PCR testing and RT-PCR assay kits, have been instrumental in confirmatory tests, particularly in clinical settings like hospitals, urgent care centers, clinics, and emergency rooms. This genetic variation can impact the virus's properties, such as how it spreads or how severe the symptoms are for those infected. PoC testing using immunoassay test strips and saliva/nasal swabs has also gained popularity for its ease of use and quick results. In January 2022, Roche introduced an at-home COVID-19 test, further expanding access to testing.
ICMR, the Delta variant, and healthcare workers have the importance of high sensitivity, viral load, and detection rate in choosing the right test. The assay duration and testing capacity are also crucial factors in the selection process. Emergency Use Authorization (EUA) and the use of nasopharyngeal and oropharyngeal swabs have been integral to the in-vitro diagnosis process. The development of mRNA vaccines and the ongoing research on new variants continue to drive the demand for accurate and efficient coronavirus test kits. Thus, such trends will shape the growth of the market during the forecast period.
The poor healthcare settings in developing countries is the major challenge that affects the growth of the market. The market plays a crucial role in the detection and diagnosis of the virus, particularly in clinical settings such as hospitals, urgent care centers, clinics, and emergency rooms. The shortage of financial resources and a strong healthcare infrastructure is a major obstacle to promoting public health in these areas. Rapid diagnostics, including Point of Care (PoC) kits, have gained significant importance during the ongoing pandemic due to their ability to deliver results quickly. Product approval and financial assistance from governments have accelerated the use of diagnostic solutions, enabling the deployment of confirmatory tests like molecular tests, antibody tests, and antigen tests. PoC testing and real-time diagnostics using saliva/nasal swabs have become essential for mass testing, especially with the emergence of new variants like the Delta variant. In-vitro Diagnosis through RT-PCR testing and Assay duration are critical factors in patient treatment. The sensitivity, viral load, and detection rate of these tests are vital in clinical settings. Nucleic acid-based tests, such as RT-PCR Assay Kits, are widely used for their high accuracy. Immunoassay Test Strips offer an alternative for quick and easy screening. The specimen type, such as nasopharyngeal swabs or oropharyngeal swabs, also influences the test's effectiveness.
Despite the advancements in diagnostic solutions, challenges persist, particularly in developing regions. A significant portion of the population lacks access to healthcare facilities and adequate knowledge about health concerns. Healthcare systems in these regions often face a shortage of skilled personnel and infrastructure, making it difficult to provide quality healthcare services, including coronavirus testing. For instance, in some countries like Kenya, Algeria, and Bangladesh, the lack of technology, infrastructure, and policies hampers efficient healthcare service delivery. The ongoing pandemic has further highlighted the need for strengthening healthcare systems and investing in diagnostic solutions to ensure effective patient treatment. Governments and healthcare organizations have been working to address these challenges by providing financial assistance, training healthcare workers, and increasing testing capacity. Emergency Use Authorization (EUA) has been granted for several coronavirus tests to expedite their availability. The development and distribution of mRNA vaccines offer hope for controlling the pandemic, but the importance of diagnostic solutions in managing the virus's spread and ensuring effective patient treatment cannot be overstated. Hence, the above factors will impede the growth of the market during the forecast period.
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, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers coronavirus test kits namely the Panbio COVID-19 Antigen Self-Test Kit.
The market research and growth report also 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 Coronavirus Test Kits market is witnessing significant growth due to the ongoing pandemic. Various types of tests are being used for the detection of COVID-19, including PoC kits, rapid diagnostics, confirmatory tests, molecular tests, antibody tests, and antigen tests. PoC testing, real-time diagnostics, and in-vitro diagnosis are popular methods used in hospitals, urgent care centers, clinics, emergency rooms, and other clinical settings. Government testing facilities like COVIRAP use nucleic acid-based tests, such as RT-PCR testing, which has an assay duration of 2-4 hours and high sensitivity. The testing capacity is being increased through Emergency Use Authorization (EUA) and financial assistance from various organizations. Healthcare workers are administering tests using nasopharyngeal swabs and oropharyngeal swabs. The Delta variant of the virus requires high testing capacity and quick results, making the use of RT-PCR Assay Kits and Immunoassay Test Strips essential. The sensitivity, viral load, and detection rate of these tests are crucial factors in patient treatment. Curetis is enhancing its Respiratory Virus RT-PCR DTC Test to accurately assess the recovery rate among vaccinated people and the broader population. ICMR and other regulatory bodies are ensuring product approval for these tests to maintain the quality and accuracy of the results. The market for Coronavirus Test Kits is expected to continue growing as the world strives to control the spread of the virus. The use of saliva/nasal swabs, mRNA vaccines, and antibody tests are also gaining popularity in the fight against COVID-19.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Decelerate at a CAGR of -72.6% |
Market growth 2024-2028 |
USD -6.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
-88.9 |
Regional analysis |
Asia, Europe, North America, and Rest of World (ROW) |
Performing market contribution |
Rest of World (ROW) at 14% |
Key countries |
Brazil, US, Russia, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Advaite Inc., BGI Group, Bio Rad Laboratories Inc., Biomedomics Inc, BioMerieux SA, Cellex Inc., Chembio Diagnostics Inc., Cue Health Inc., Danaher Corp., Dynamiker Biotechnology Tianjin Co. Ltd., F. Hoffmann La Roche Ltd., Mylab Discovery Solutions Pvt Ltd., QIAGEN N.V., QuidelOrtho Corp., Robert Bosch GmbH, Safecare Biotech Hangzhou Co. Ltd., Siemens AG, Thermo Fisher Scientific Inc., and Unisys Corp. |
Market dynamics |
Parent market analysis, 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 the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Additional Value/Volume Data
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
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.