Impact Analysis of Covid-19

The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

COVID-19 is a viral infection which affects the respiratory tract. The COVID-19 virus is highly contagious and can be transmitted through direct contact with the infected person or an indirect contact with surfaces in the immediate environment. The number of people getting infected by COVID-19 has dynamically increased, making it a global pandemic. The skyrocketing cases of COVID-19 across the globe have enunciated the need for more and more COVID-19 detection kits in order to carry out maximum number of tests.

The surging demand for COVID-19 detection kits has encouraged several manufacturing companies such as Abbott Laboratories, Co-Diagnostics, BioFire Diagnostic, and other prominent players to potentially ramp up their production. For instance, on May 04, 2020, Abbott Laboratories announced that it is planning to ramp up the production of COVID-19 tests. The company reported that it is manufacturing around 50,000 ID NOW tests per day and will be ramping up the manufacturing capacity by 2 million tests a month by June, 2020. The company is also planning to increase the production of its antibody tests to around 20 million tests in June. Hence, such high production of COVID-19 tests is expected to boost the growth of the COVID-19 detection kits market during the forecast period.

The global COVID-19 detection kits market is estimated to be valued at US$ 3.30 billion in 2020 and is expected to exhibit a CAGR of 17.3% during the forecast period (2020-2027).

Figure 1. Global COVID-19 Detection Kits Market Share (%) in terms of Value, By Region, 2019

COVID-19 Detection Kits  | Coherent Market Insights

The COVID-19 outbreak is expected to propel the market growth during the forecast period

The increasing number of disease outbreaks is escalating demand for advanced diagnostic test kits which is expected to boost growth of the COVID-19 detection kits market. For instance, the coronavirus disease (COVID-19) pandemic is the most recent outbreak which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO), around 3,517,345 cases of the coronavirus disease (COVID-19) were reported on May 05, 2020 across the globe.

Figure 2. Global COVID-19 Detection Kits Market Share (%) By Value, by Product Type, 2020

COVID-19 Detection Kits  | Coherent Market Insights

The increasing demand for COVID-19 detection kits due to the COVID-19 outbreak is expected to drive the market growth during the forecast period

The demand for COVID-19 detection test kits has increased worldwide due to the disease outbreak which is expected to drive the growth of the COVID-19 detection kits market during the forecast period. For instance, on March 16, 2020, F. Hoffmann-La Roche AG shipped around 400,000 cobas SARS-CoV-2 Tests for COVID-19 to a network of hospitals and reference laboratories across the U.S. The company is planning to ship an additional 400,000 tests per week to the laboratory testing sites across the U.S.

Global COVID-19 Detection Kits Market: Restraint

Product recalls due to quality control issues are expected to hinder the market growth. For instance, on April 17, 2020, the Washington State Department of Health was informed by UW Medicine that the procured batch of COVID-19 specimen collection kits may have quality control issues due to which the Washington State Department of Health recalled around 12,000 kits sent to the tribal nations, local health jurisdictions, and state agency partners across the U.S.

Key Players

Major players operating in the global COVID-19 detection kits market are Co-Diagnostics, Inc, F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific, Abbott Laboratories, BGI, Cepheid Inc, BioFire Diagnostics, GenMark Diagnostics, Qiagen, Quidel Corporation, Randox Laboratories Ltd., SD Biosensor, INC., Shenzhen Bioeasy Biotechnology Co., Ltd., and Seegene Inc.

COVID-19 detection kits can identify the SARS-CoV-2 or coronavirus through two methods. The first method is the RT-PCR method in which the presence of the virus itself is detected and the second is an immunoassay test which detects antibodies produced in response to the infection. In order to prevent further spread of the virus, governments and regulatory authorities all over the world are focusing on conducting maximum number of COVID-19 detection tests which has led to a high demand for COVID-19 detection kits globally. For instance, on April 04, 2020, the Department of Health and Social Care, UK, reported that National Health Service has conducted around 200,000 tests so far and has also scaled up the testing capacity from 5,000 to 10,000 tests per day in the U.K. According to the same source, the National Health Service is planning to increase the capacity to nearly 25,000 swab tests per day by the end of April in the U.K. Hence, the increasing demand for COVID-19 detection is expected to boost the market growth during the forecast period.

Market Dynamics

The increasing adoption of inorganic growth strategies such as partnerships and collaborations by key players to increase the production of COVID-19 tests is expected to propel the market growth during the forecast period. For instance, on April 14, 2020, Co-Diagnostics, Inc., a molecular diagnostics company, collaborated with Promega Corporation, a provider of molecular diagnostic components, to amplify the production of Logix Smart COVID-19 tests. This collaboration will allow Co-Diagnostics, Inc. to meet the demand for COVID-19 tests and strengthen its presence in the U.S.

Similarly, on April 29, 2020, Centene Corporation collaborated with Quest Diagnostics, provider of diagnostic information services to increase availability of real-time reverse transcription polymerase chain reaction (rRT-PCR) COVID-19 testing in the U.S. Through this collaboration, Centene will distribute around 25,000 Quest COVID-19 test kits every week to Federally Qualified Health Centers (FQHCs) in ten states or districts across the U.S.

Key features of the study:

  • This report provides in-depth analysis of the global COVID-19 detection kits market and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new drug launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global COVID-19 detection kits market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study are Co-Diagnostics, Inc F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific, Abbott Laboratories, BGI, Cepheid Inc, BioFire Diagnostics, GenMark Diagnostics, Qiagen, Quidel Corporation, Randox Laboratories Ltd., SD Biosensor, INC., Shenzhen Bioeasy Biotechnology Co., Ltd., and Seegene Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future drug launches, Specimen Type up-gradation, market expansion, and marketing tactics
  • The global COVID-19 detection kits market report caters to various stakeholders in this industry including investors, suppliers, drug manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global COVID-19 detection kits market

Detailed Segmentation:

  • Global COVID-19 detection kits Market, By Product Type:
    • RT-PCR Assay Kits
    • Immunoassay Test Strips/Cassettes
  • Global COVID-19 detection kits Market, By Specimen Type:
    • Nasopharyngeal swab
    • Oropharyngeal swab
    • Nasal swab
    • Sputum
    • Others
  • Global COVID-19 detection kits Market, By End User:
    • Hospitals
    • Diagnostic centers
    • Others
  • Global COVID-19 detection kits Market, By Region:
    • North America
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type
        • RT-PCR Assay Kits
        • Immunoassay Test Strips/Cassettes
      • By Specimen Type:
        • Nasopharyngeal swab
        • Oropharyngeal swab
        • Nasal swab
        • Sputum
        • Others
      • By End User:
        • Hospitals
        • Diagnostic centers
        • Others
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Co-Diagnostics, Inc*
      • Company Overview
      • Material Portfolio
      • Financial Performance
      • Key Highlights
      • Market Strategies
    • Hoffmann-La Roche AG
    • Siemens Healthineers AG
    • Thermo Fisher Scientific
    • Abbott Laboratories
    • BGI
    • Cepheid Inc
    • BioFire Diagnostics
    • GenMark Diagnostics
    • Qiagen
    • Quidel Corporation
    • Randox Laboratories Ltd.
    • SD Biosensor, INC.
    • Shenzhen Bioeasy Biotechnology Co., Ltd.
    • Seegene Inc.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Specimen Type
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New Specimen Type Approvals/Launch
    • Promotion and Marketing Initiatives
    • PEST Analysis
  4. Global COVID-19 Detection Kits Market, By Product Type, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • RT-PCR Assay Kits
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Immunoassay Test Strips/Cassettes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global COVID-19 Detection Kits Market, By Specimen Type, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Nasopharyngeal swab
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Oropharyngeal swab
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Nasal swab
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Sputum
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global COVID-19 Detection Kits Market, By End User, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global COVID-19 Detection Kits Market, By Region, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2027
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Specimen Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
      • Co-Diagnostics, Inc
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • F. Hoffmann-La Roche AG
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Siemens Healthineers AG
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Thermo Fisher Scientific
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abbott Laboratories
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BGI
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Cepheid Inc
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BioFire Diagnostics
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GenMark Diagnostics
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Qiagen
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Quidel Corporation  
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Randox Laboratories Ltd.
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • SD Biosensor, INC.
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Shenzhen Bioeasy Biotechnology Co., Ltd.
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Seegene Inc.
        • Company Overview
        • Specimen Type Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 27 market data tables and 26 figures on “COVID-19 Detection Kits Market” - Global forecast to 2027.

Frequently Asked Questions

The global COVID-19 detection kits market size is estimated to be valued at US$ 3.30 billion in 2020.
The global COVID-19 detection kits market is estimated to exhibit a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period (2020-2027).
Major market drivers for COVID-19 detection kits market include the COVID-19 outbreak, the increasing demand for COVID 19 test kits, and approval of new COVID-19 tests from regulatory authorities.
RT-PCR Assay Kits segment is expected to dominate the COVID-19 detection kits market owing to the increasing number of product approvals.
The North America COVID-19 detection kits market is expected to hold highest revenue share in 2020.
The major players operating in the global COVID-19 detection kits market are Co-Diagnostics, Inc, F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific, Abbott Laboratories, BGI, and others.
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