COVID 19 Rapid Diagnostic Test Market
A rapid diagnostic test of a sample of a person helps to detect the presence of viral proteins (antigens) related to the COVID-19 virus. This ensures an accurate and a speedy diagnosis, and its usage is Centers for Disease Control and Prevention CDC-approved. This test is a rapid diagnostic test based on antigen detection. The other test is rapid diagnostic test based on antibody detection. This test is used to detect the presence of antibodies in the blood of COVID-19 infected people. The strength of the antibody response depends on several factors like medications, age, infections, and the severity of disease, etc.
Molecular and antigen tests are types of diagnostic tests that can detect the infection if you have an active COVID-19 infection. Samples for diagnostic tests are normally collected with a throat or nasal swab, or saliva collected by spitting into a tube. Antibody tests look for antibodies in your immune system produced in response to SARS-CoV-2, the virus that is responsible for causing COVID-19. Antibody tests cannot be used to diagnose an active COVID-19 infection. Antibodies can take several days or weeks to develop after you get infected by the infection and may stay in your blood for several weeks or even after recovery from the infection. Samples for antibody tests are typically blood drawn by your doctor or other medical personnel.
Market Dynamics
The increasing number of approvals for new and advanced COVID-19 rapid diagnostic test kits by regulatory authorities is expected to propel the market growth over the forecast period. For instance, on May 12, 2020, Fujirebio Europe received CE mark for the molecular IVD assay iAMP COVID-19 detection kit, developed in partnership with Atila Biosystems, Inc., a U.S.-based company focused on developing products for nucleic acid amplification and detection of clinical diagnostic applications. Moreover, in September 2020, the U.S. FDA granted emergency use status to MiraDx, a U.S.-based molecular genetics company, for its SARS-CoV-2 RT-PCR assay used for detection of COVID-19.
Furthermore, development of cheaper COVID-19 detection kits is expected to drive the global COVID-19 rapid diagnostic test market growth over the forecast period. For instance, in January 2021, the World Health Organization approved a rapid antigen test developed by UNICEF (United Nations International Children’s Emergency Fund) for diagnosis of COVID-19 under emergency use. This COVID-19 diagnostic test is a low cost alternative to other more expensive COVID-19 test and is priced at US$ 2.55 per test. With the development of such low cost COVID-19 rapid diagnostic tests, low and middle income countries such as Bangladesh, Indonesia, and others would have more access to the COVID-19 diagnostic tests.
Key features of the study
Market Segmentation
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