COVID-19 Detection Test Kits and Consumables Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's COVID-19 Detection Test Kits and Consumables Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, August 7, 2024 /EINPresswire.com/ -- The COVID-19 detection test kits and consumables market has experienced robust growth in recent years, expanding from $7.25 billion in 2023 to $7.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to high prevalence of COVID-19, rising demand for early detection and diagnosis, increasing government support, growing awareness of the importance of testing, expanding reimbursement coverage.

Strong Future Growth Anticipated
The COVID-19 detection test kits and consumables market is projected to continue its strong growth, reaching $10.84 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to growing demand for point-of-care testing, ongoing need for testing, emerging variants, vaccination campaigns, international travel and border controls.

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Growth Driver Of The COVID-19 Detection Test Kits and Consumables Market
The increasing government initiatives are expected to propel the growth of the COVID-19 detection test kits and consumables market going forward. Government initiatives refer to actions and programs undertaken by government authorities to address specific issues, achieve objectives, or promote the well-being of the population. Government initiatives are instrumental in creating an enabling environment for the effective deployment of COVID-19 detection test kits and consumables, contributing to the global effort to manage and mitigate the impact of the pandemic.

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Major Players And Market Trends
Key players in the COVID-19 detection test kits and consumables market include Cepheid, BGI Genomics, Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories, F. Hoffmann-La Roche, GenMark Diagnostics.

Major companies operating in the COVID-19 detection test kits and consumables market are increasing their focus on introducing innovative devices, such as immunoassay kits, to gain a competitive edge in the market. Immunoassay kits are diagnostic tools used to detect and quantify specific substances, often biological molecules like proteins or hormones, in a sample.

Segments:
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 and 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

Geographical Insights: North America Leading The Market
North America was the largest region in the COVID-19 detection test kits and consumables market in 2023. The regions covered in the COVID-19 detection test kits and consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

COVID-19 Detection Test Kits and Consumables Market Definition
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).

COVID-19 Detection Test Kits and Consumables Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The COVID-19 Detection Test Kits and Consumables Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on COVID-19 detection test kits and consumables market size, COVID-19 detection test kits and consumables market drivers and trends, COVID-19 detection test kits and consumables market major players, COVID-19 detection test kits and consumables competitors' revenues, COVID-19 detection test kits and consumables market positioning, and COVID-19 detection test kits and consumables market growth across geographies. The COVID-19 detection test kits and consumables market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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