Rapid Test Kit Market for COVID-19

1
Rapid Test Kit Market for COVID-19 Market By Test
Type (Rapid Antigen Test, Rapid Antibody Test,
Others), By End-Users (Hospitals Clinics.
Diagnostics Laboratory, Home Care, Others),
Forecasts, 2020-2027
www.reportsanddata.com
2
Market Summary
The global rapid test kit market for COVID-19 is
expected to reach USD 3.70 Billion by 2027,
according to a new report by Reports and Data.
The initial diagnosis of diseases, as well as
accuracy, play an instrumental role in the
treatment of patients. Rapid test kits are in
vitro diagnostics methods implemented
individually or in a small series that involve
manual procedures and have been developed to
provide a rapid result. For the purpose testing
COVID-19, rapid test kit may require about 10 to
30 minutes to give a result as compared to about
hours of molecular tests performed in large
series, or it might take even more time samples
have to be transported to a remotely located
testing laboratory. The rapid tests for COVID-19
are fairly simple to perform and infer and hence
need limited test operator training and may be
used either for usage in hospital laboratories or
close to the point-of-care. The COVID-19
pandemic is affecting the worldwide population in
radical ways. In several nations, geriatric
people are facing the maximum dangers and
challenges in dire situation. Even though people
of all age groups are at risk of getting infected
by COVID-19, elderly people face a substantial
risk of getting severely ill in the event of
contracting COVID-19, owing to physiological
changes that follow with aging and probable
underlying health conditions. More than 95.0 of
deaths owing to the disease occurred in people
aged than 60 years. Over 50.0 of all casualties
involved people aged 80 years or older. It has
been found that 8 out of 10 fatalities are
happening in individuals with no less than one
comorbidity, especially in those with
hypertension, cardiovascular disease, and
diabetes, as well as with other chronic
underlying conditions.
www.reportsanddata.com
3

• Further key findings from the report suggest
• By test type, the rapid antigen test is likely to
  hold substantial market share in 2020 and is
  expected to grow at a rate of -21.1 in the
  forecast period. The basis rapid antigen test is
  the particular binding of an antigen
  (glycoprotein or protein) to an antibody. Antigen
  assays are usually more cost-effective as
  compared to either molecular or culture
  techniques nevertheless, they do not increase
  their target as culture increases communicable
  organisms or as polymerase chain reaction
  amplifies nucleic acid. Therefore, this test is
  frequently less sensitive as compared to other
  methods.
• By end-users, hospitals and clinics are likely to
  contribute to the largest market share in 2020
  and is expected to grow at a rate of -21.0 the
  forecast period. The factors including
  well-resourced operating diagnostic rooms,
  higher purchasing power, the existence of highly
  skilled healthcare professionals, and improved
  health coverage for hospital-based healthcare
  services from several private and group insurance
  plans, among others, are responsible for the high
  market share of hospitals.
• The market in the Asia Pacific region is
  estimated to grow at the fastest rate of -20.0
  in the forecast period, attributed to the
  presence of a large population in the countries
  such as India in the region pushing the
  governments to order rapid test kits for COVID-19
  in huge quantity to contain the spread of the
  disease.

www.reportsanddata.com
4

• In April 2020, a minimum of four conglomerate
  producers of COVID-19 rapid test kits are putting
  efforts to supply over a million diagnostic kits
  to the Indian sub-continent, as the nation looks
  to produce testing for the novel coronavirus. The
  Siemens, Thermo Fisher Scientific, Altona, and
  Seegene are all anticipated to commence supplying
  COVID-19 test kits.
• Key participants include Abbott Laboratories,
  Acumen Research Laboratories, BioMedomics,
  Biolidics, LabCorp, ThermoFisher, CTK Biotech,
  Biomaxima, Beijing Tigsun Diagnostics Co. Ltd.,
  and Getein Biotech, among others.
• In March 2020, Aperiomics launched a reverse
  transcription-polymerase chain reaction in the
  U.S. meant for the qualitative detection of
  coronavirus, with the capability to process
  around 1,000 tests per week, and the firm can
  offer test results in 48 to 72 hours of getting a
  sample. The company announced to double its
  COVID-19 PCR testing capacity in the month of
  April, with support from Howard Hughes Medical
  Institute's Janelia Research Campus.
• In March 2020, Arup Laboratories launched an
  innovative test kit for the novel COVID-19 and
  instigated testing the molecular diagnostic kit
  is meant to detect RNA of the coronavirus the
  test is done using a qualitative polymerase chain
  reaction technique.
• Get Free Report Sample _at_ https//www.reportsanddat
  a.com/sample-enquiry-form/2964

www.reportsanddata.com
5

• For the purpose of this report, Reports and Data
  have segmented the global rapid test kit market
  for COVID-19 on the basis of test type,
  end-users, and region
• Test Type Outlook (Revenue, USD Million
  2020-2027)
• Rapid Antigen Test
• Rapid Antibody Test
• Others
• End-Users Outlook (Revenue, USD Million
  2020-2027)
• Hospitals Clinics
• Diagnostics Laboratory
• Home Care
• Others
• Regional Outlook (Revenue, USD Million
  2020-2027)
• North America
• U.S

www.reportsanddata.com
6

• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• MEA
• Browse Complete Report Rapid Test Kit Market for
  COVID-19 Market By Test Type (Rapid Antigen Test,
  Rapid Antibody Test, Others), By End-Users
  (Hospitals Clinics. Diagnostics Laboratory,
  Home Care, Others), Forecasts, 2020-2027 _at_
  https//www.reportsanddata.com/report-detail/rapid
  -test-kit-market

www.reportsanddata.com
7
About Us
Reports and Data is a market research and
consulting company that provides syndicated
research reports, customized research reports,
and consulting services. Our solutions purely
focus on your purpose to locate, target and
analyze consumer behavior shifts across
demographics, across industries and help clients
make a smarter business decision. We offer
market intelligence studies ensuring relevant and
fact-based research across a multiple industries
including Healthcare, Technology, Chemicals,
Power, and Energy. We consistently update our
research offerings to ensure our clients are
aware about the latest trends existent in the
market. Reports and Data has a strong base of
experienced analysts from varied areas of
expertise.
Contact US
John Watson Head of Business Development Reports
And Data Web www.reportsanddata.com Direct
Line 1-212-710-1370 E-mail sales_at_reportsanddata
.com
www.reportsanddata.com