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Rapid Test Kit Market

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

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

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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


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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

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.


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• 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.

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• North America

• U.S

• Europe

• U.K

• France

www.reportsanddata.com

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)


www.reportsanddata.com

• 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” @

https://www.reportsanddata.com/report-detail/rapid-test-kit-market


www.reportsanddata.com

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 client’s

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@reportsanddata.com

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