Global COVID Testing Kit Market Size To Exceed USD 173.40 Billion By 2035 | CAGR of 7.20%
Category: HealthcareGlobal COVID Testing Kit Market Size To Exceed USD 173.40 Billion By 2035
According to a research report published by Spherical Insights & Consulting, the Global COVID Testing Kit Market Size is expected to grow from USD 80.70 Billion in 2024 to USD 173.40 Billion by 2035, at a CAGR of 7.20% during the forecast period 2025-2035.
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Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the "Global COVID Testing Kit Market Size, Share, and COVID-19 Impact Analysis, By Type (Immunoassay Test Strips, RT-PCR Assay Kits, and Others), By End User (Hospitals and Clinics, Diagnostic Laboratories, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/covid-testing-kit-market
The COVID testing kit market is the worldwide industry that manufactures, markets, and utilizes diagnostic kits designed to detect the presence of SARS-CoV-2. These kits comprise RT-PCR assay kits, immunoassay test strips, and rapid antigen testing, and they are used in diagnostic labs, hospitals, and home care settings. In order to provide widespread availability and effective diagnosis, the COVID Testing Kit Market is focused on innovation, accessibility, accuracy, government initiatives, new variations, home-based testing, regulatory approvals, competitive dynamics, and healthcare infrastructure. The market for COVID testing kits is primarily driven by the emergence of new COVID variants, government testing restrictions, and the continuous focus on pandemic preparedness. The rising focus on decentralized and point-of-care testing, especially in rural and resource-constrained locations, also aids in the development and implementation of innovative, portable testing systems. The growing demand for COVID-19 testing is one of the key reasons driving the growth of the COVID testing kit market. However, reduced funding, supply chain interruptions, competition, regulatory obstacles, high costs, accuracy issues, declining demand, and restricted accessibility.
The RT-PCR assay kits segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the COVID testing kit market is divided into immunoassay test strips, RT-PCR assay kits, and others. Among these, the RT-PCR assay kits segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. It's mostly due to the great sensitivity and specificity of RT-PCR assay kits, as well as their technological developments.
The hospitals & clinics segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the end user, the COVID testing kit market is divided into hospitals and clinics, diagnostic laboratories, and others. Among these, the hospitals & clinics segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The hospital segment is expected to develop as a result of the government's growing support for hospitals.
Europe is expected to hold the majority share of the global COVID testing kit market during the forecast period.
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Europe is expected to hold the majority share of the global COVID testing kit market during the forecast period. Technology advancements, the massive demand for RT-PCR and other diagnostic tools to contain the outbreak, and the notable increase in COVID-19 cases in the Europe region are to blame. As European countries and their governments focus on improving testing capabilities to halt the COVID-19 epidemic, the region's need for testing kits is increasing.
Asia Pacific is anticipated to grow at the fastest pace in the global COVID testing kit market during the forecast period. The Indian Department of Science and Technology (DST) announced that it would provide around USD 26.42 million to various businesses, startups, and academic institutions to support their innovative approaches to addressing the COVID-19 pandemic. Protection gear, other necessary therapies, rapid and accurate diagnostic technologies, and more therapy alternatives are some of these answers.
Major vendors in the global COVID testing kit market are Abbott, GenMark,QiagenBGI Group, Siemens AG, Danaher Corporation, BioMérieux SA, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG,Bio-Rad Laboratories, Inc., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In June 2022, Genes2Me announced the CoviEasy Self-Test Rapid Antigen test kit in India. It is simple to use and provides results in 10 minutes. This IVD product, which is supported by an AI-powered mobile app, offers a high degree of sensitivity and concordance with an accuracy of over 98%.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the COVID testing kit market based on the below-mentioned segments:
Global COVID Testing Kit Market, By Type
- Immunoassay Test Strips
- RT-PCR Assay Kits
- Others
Global COVID Testing Kit Market, By End User
- Hospitals & Clinics
- Emergency Medical Services (EMS)
- Public Access Defi-illators (PAD)
- Home Care Settings
Global COVID Testing Kit Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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