COVID-19 Detection Test Kits and Consumables Market in Focus: Forecasting Growth Drivers, Scaling Potential, and Global Opportunities
Discover trends, market shifts, and competitive outlooks for the covid-19 detection test kits and consumables industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#What is the Anticipated CAGR of the COVID-19 Detection Test Kits and Consumables Market, and What Factors Will Drive It?#_x000D_
In recent times, the market size for COVID-19 detection test kits and consumables has significantly expanded. It’s projected to increase from $7.79 billion in 2024 to $8.35 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors contributing to the growth during the historical period include high COVID-19 prevalence, escalating demand for early detection and diagnosis, enhanced government backing, increasing awareness about the significance of testing, and wider reimbursement coverage._x000D_
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Expectations are high for substantial growth in the market size for COVID-19 detection test kits and consumables in the coming years. This market is predicted to reach a value of $11.96 billion by 2029, experiencing a compound annual growth rate (CAGR) of 9.4%. This growth in the forecast period can be credited to increasing demand for point-of-care tests, the consistent requirement for testing, the emergence of new variants, vaccination drives, and the implementation of international travel and border controls. Key trends to watch during this forecast period would be multiplex testing, testing kits for home use, the integration with digital health, and immunity testing via antibody tests._x000D_
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#What Are the Core Market Drivers Propelling Growth in the COVID-19 Detection Test Kits and Consumables Industry?#_x000D_
The COVID-19 detection kits and consumables market has seen growth propelled by the rising need for economical and rapid COVID-19 testing kits, in conjunction with a more flexible regulatory process for these kits. Given the global surge in COVID-19 (SARS-CoV-2) cases, the World Health Organization declared the spread a Public Health Emergency of International Concern (PHEIC) and urged research into point-of-care diagnostics like Rapid Diagnostic Tests (RTDs). The RTDs, which are relatively easy-to-use standalone tests, have been designed to be administered out in the community, at triage areas or even outside hospitals, by minimally trained staff. They can function uninterrupted, providing results from a single sample within a quarter of an hour. In turn, in order to facilitate the research, regulatory bodies such as the US FDA have simplified the approval process for COVID-19 detection kits, enabling manufacturers to quickly launch these kits in the market. Therefore, with cases continuing to increase globally and the urgent requirement for swift diagnosis, the demand for efficient and inexpensive COVID-19 detection kits is on the rise. This, combined with the streamlined regulatory process for these kits, is propelling the COVID-19 detection test kits and consumables market._x000D_
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#How Is the COVID-19 Detection Test Kits and Consumables Market Segmented?#_x000D_
The COVID-19 detection test kits and consumables market covered in this report is segmented –_x000D_
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1) By Kits: Viral Load Testing Kits (qPCR and RT-PCR), Virus Neutralizing Assay Kits, Antibody Detection Kits (Elisa), Viral Antigen Detection Test Kits, Other Kits_x000D_
2) By Consumables: Swabs, Tubes, Viral Transfer Media, Reagents, Other Consumables_x000D_
3) By Specimen Type: Nose & Throat Swab, Blood, Sputum, Nasal Aspirate_x000D_
4) By End Use: Hospitals, Clinics, Public Health Labs, Private And Commercial Labs, Physicians Labs, Research Institutes, Other End Uses_x000D_
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Subsegments:_x000D_
1) By Viral Load Testing Kits (QPCR and RT-PCR): QPCR Kits, RT-PCR Kits_x000D_
2) By Virus Neutralizing Assay Kits: Neutralization Test Kits_x000D_
3) By Antibody Detection Kits (Elisa): IgG Detection Kits, IgM Detection Kits_x000D_
4) By Viral Antigen Detection Test Kits: Rapid Antigen Test Kits_x000D_
5) By Other Kits: Combination Test Kits, Multiplex Test Kits_x000D_
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#Which Regions Are Driving the Next Phase of the COVID-19 Detection Test Kits and Consumables Market Growth?#_x000D_
The countries covered in the COVID-19 detection test kits and consumables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada._x000D_
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#What Key Trends Are Shaping the Future of the COVID-19 Detection Test Kits and Consumables Market?#_x000D_
A newly developed diagnostic test for COVID-19, called CRISPR, utilizes CRISPR technology and can be conducted using nasal swabs. CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) based technologies, widely recognized as genomic editing techniques, enable precise detection of COVID-19 cases within an hour. The US FDA has awarded Sherlock Biosciences an emergency use authorization (EUA) for the CRISPR test, positioning Sherlock Biosciences’ CRISPR as the first FDA-accredited CRISPR technology in the market. Mammoth Biosciences is additionally making significant strides in the utilization of this technology._x000D_
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#How Is the COVID-19 Detection Test Kits and Consumables Market Defined and What Are Its Core Parameters?#_x000D_
The COVID-19 detection test kits & consumables are used for the identification of novel COVID-19 (SARS-CoV-2). These COVID-19 test kits and consumables use a laboratory procedure called reverse transcription polymerase chain reaction to find the virus’ genetic material (RT-PCR)._x000D_
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