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The COVID-19 detection test kits and consumables market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 7%, as per The Business Research Company’s market report!

Read More On The COVID-19 Detection Test Kits And Consumables Market Report 2022 – https://www.thebusinessresearchcompany.com/report/covid-19-detection-test-kits-and-consumables-global-market-report

The COVID-19 Detection Test Kits And Consumables Market Size In 2022 And Forecast

The global COVID-19 detection test kits and consumables market is expected to grow from $6.21 billion in 2021 to $6.70 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The COVID-19 detection test kits and consumables market is expected to grow to $8.94 billion in 2026 at a CAGR of 7.5%.

The market for COVID-19 detection test kits & consumables consists of sales of detection test kits and consumables used for the identification of novel coronavirus (SARS-CoV-2).

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Ease Of Regulatory Processes Is Driving The Growth Of The COVID-19 Detection Test Kits And Consumables Market

In the support of the research, regulatory bodies such as US FDA have eased the COVID-19 detection kits regulatory approval process allowing manufacturers to introduce COVID-19 detection kits in the market on a fast-track basis. Therefore, with the growing number of cases globally and the immense need for rapid diagnosis, the demand for cost-effective and quick COVID-19 detection kits is growing. This factor coupled with ease of the regulatory process for COVID-19 detection kits is driving the market.

Competitive Landscape And The Regional Analysis Of The COVID-19 Detection Test Kits And Consumables Market

Major players in the COVID-19 detection test kits and consumables market are Cepheid, BGI, Abbott Laboratories, BioFire Diagnostics, F. Hoffmann-La Roche, GenMark Diagnostics, Mylab Discovery Solutions, Qiagen, Quidel Corporation, and Randox Laboratories.

The COVID-19 Detection Test Kits And Consumables Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the COVID-19 detection test kits and consumables market.

CRISPR Technology – A Key Trend In The COVID-19 Detection Test Kits And Consumables Market

CRISPR, a new diagnostic test for COVID-19 is based on CRISPR technology and can run on nasal swabs. CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) based technologies are genomic editing technologies used for the exact detection of COVID-19 cases in an hour.

COVID-19 Detection Test Kits And Consumables Market Segmentation By The Business Research Company

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

2) By Consumables: Swabs, Tubes, Viral Transfer Media, Reagents, Other Consumables

3) By Specimen Type: Nose & Throat Swab, Blood, Sputum, Nasal Aspirate

4) By End Use: Hospitals, Clinics, Public Health Labs, Private And Commercial Labs, Physicians Labs, Research Institutes, Other End Uses

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Rapid Microbiology Testing Kits Global Market Report 2022

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