Medical Equipment

The COVID-19 Rapid Test Kits Market Forecast Until 2030 – Opportunities And Strategies

November 28, 2022 by The Business Research Company

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The covid-19 rapid test kits market is expected to decline from $1.36 billion in 2023 at a rate of -54.9%. The COVID-19 rapid test kits market is expected to cease from 2024 due to the vaccination of global population by the end of 2023.

The COVID-19 rapid test kits market consists of sales of COVID-19 rapid test kits and related services by entities (organizations, sole traders and partnerships) that offer kits aimed at the detection of COVID-19.

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COVID-19 Rapid Test Kits Market Driver

The rising demand for antibody tests is expected to drive the market for COVID-19 rapid test kits in the forecast period. Rapid antibody tests allow the public health agencies to identify individuals with previous COVID-19 disease, understand its spread, and inform public health interventions.

COVID-19 Rapid Test Kits Market Trends

Artificial Intelligence is being increasingly incorporated with rapid diagnostic test kits to increase the efficiency of diagnosis. Artificial intelligence (AI) refers to the simulation of human intelligence in computer-controlled machines that are programmed to perform tasks, which usually require human intelligence. Artificial Intelligence algorithms are being used to integrate the findings of chest CT with clinical symptoms, exposure history, and laboratory testing to increase the chance of early detection of infection.

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Opportunities And Recommendations For The COVID-19 Rapid Test Kits Market

Recommendations – The Business Research Company recommends the covid-19 rapid test kits market companies to focus on developing at home test kits, and focus on big data and AI to understand the gap between demand and supply of test kits and to improve the diagnosis. Also, the companies should focus on leveraging e-commerce to maximize their reach and promote their product by increasing visibility on business websites and participation in trade shows.

Major Players And Regions Of The COVID-19 Rapid Test Kits Market

Major players in the covid-19 rapid test kits market are Abbott Laboratories, F. Hoffmann-La Roche AG, Quidel Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson and Company.

The COVID-19 Rapid Test Kits Market Report 2022 – Opportunities And Strategies – Global Forecast To 2031 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 report includes market size and forecast market shares for all the regions and countries with respect to the major players of the covid-19 rapid test kits market.

COVID-19 Rapid Test Kits Market Segmentation By The Business Research Company

1) By Test Type: RT PCR Test, Rapid Antigen Test, Rapid Antibody Test, Others

2) By Kit Type: PCR Machines, Equipment And Extraction Kits, Reagents

3) By Specimen Type: Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab, Blood, Others

4) By End-Users: Hospitals And Clinics, Diagnostic Laboratories, Home Care, Others

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