COVID-19 SAMPLE COLLECTION KITS MARKET ANALYSIS

COVID-19 sample collection kits are used for diagnosis and detecting SARS-CoV2 virus infection. The collection kits include vital reagents provided for collecting samples and delivering them to the laboratory where the testing services will be performed on such samples. Rising demand for COVID-19 sample collection kits as a result of the COVID-19 pandemic as well as government approval of new and enhanced detection tests are likely to propel the COVID-19 sample collection kits market growth over the forecast period. There are various types of kits available for diagnosing COVID-19, such as rapid antigen test and swabs collection kit for RT-PCR test. With the application of COVID-19 sample collection kit, the detection of virus in symptomatic patients can help in reducing the spread of the viral infection.

The global COVID-19 sample collection kits market is estimated to be valued at US$ 12.0 billion in 2021 and expected to exhibit a CAGR of 4.1% during the forecast period (2021-2028).

Figure 1. Global COVID-19 Sample Collection Kits Market in Terms of Value (US$ Billion), By Region, 2021

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Key market players are focusing on launching new products which are used for COVID-19 sample collection, which is expected to drive the growth of the global COVID-19 sample collection kits market during the forecast period.

Major market players are focused on launching new products in the market for COVID-19 sample collection. For instance, on December 24, 2020, EKF Diagnostics, a manufacturing company of point-of-care and central lab devices and chemistry reagents launched PrimeStore MTM, a pathogenic sample collection and transportation kit. The kit enables the collection, transportation, and handling of pathogenic samples such as COVID-19 and influenza. The kit is ideal for home-use or on-site mass sample collection for COVID-19 sample collection. In addition, the company has decided to increase its manufacturing capacity in the U.K. and Europe due to increasing demand for sample collection kits.

Figure 2. Global COVID-19 Sample Collection Kits Market Share (%), By Product Type, 2021

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Increasing product approval by regulatory authorities is projected to propel the global COVID-19 sample collection kits market growth during the forecast period.

Key market players are focusing on receiving approval for products from regulatory authorities, which is expected to propel the market growth. For instance, on December 24, 2021, Roche, a healthcare company, had received Emergency Use Authorization (EUA) approval from the U.S. Food and Drug Administration (FDA) for COVID-19 Home Test. According to the company, the test kit produces accurate, reliable, and quick results in around 20 minutes for SARS-CoV-2 and all known variants of concern, including Omicron.

Global COVID-19 Sample Collection Kits Market – Impact of Coronavirus (COVID-19) Pandemic

Following the outbreak of the COVID-19 in December 2019, the disease has spread to over 100 countries and the World Health Organization (WHO) had declared it a public health emergency. Till January 2022, according to the WHO’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 293 billion infected individuals globally.

Moreover, the surging cases of COVID-19 have prompted the need for rapid testing methods to distinguish COVID-19. Hence, medical services across the world are focusing on the diagnosis of COVID-19 by collecting samples from suspected individuals. For instance, on June 26, 2021, the Indian Council of Medical Research (ICMR) provided statistics on 400 million COVID-19 sample testing completed in India. Hence, the growing concern of new variants of COVID-19 is likely to propel the market growth over the forecast period.

Global COVID-19 Sample Collection Kits Market: Restraint

Product recall for COVID-19 sample collection kits by market players or regulatory authorities is expected to hamper the growth of the global COVID-19 sample collection kits market. For instance, on April 17, 2020, the Washington State Department of Health had issued a notice for the University Of Washington School Of Medicine (UW Medicine) to stop using a batch of COVID-19 specimen collecting kits that were obtained and thought to have a quality control issue. As a result, the Department of Health issued a recall for about 12,000 kits distributed to local health jurisdictions, tribal nations, and state agency partners across the United States.

Key Players                                                               

Major players operating in the global COVID-19 sample collection kits market include MyLab Discovery Solutions, Bhat Bio-Tech, Camtech Diagnostics, Angstrom Biotech Pvt. Ltd., Medsource Ozone Biomedicals Pvt Ltd., Neuromics, Oscar Medicare Pvt. Ltd., GenBody Inc., Alimetrix, Binx Health, Clinical Enterprise, Bio-Rad Laboratories, Ethos Laboratories, GetMyDNA, Kroger, LabCorp, RapidRona, EKF Diagnostics, Everlywell, Inc., and Copan Diagnostics.