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COVID-19 Detection Test Kits and Consumables Global Market Report 2022
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.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "COVID-19 Detection Test Kits and Consumables Global Market Report 2022" - https://www.reportlinker.com/p06280895/?utm_source=GNW
The global COVID-19 detection test kits and consumables market is expected to grow from $6.79 billion in 2021 to $7.27 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The market is expected to grow to $8.99 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%.
The market for COVID-19 detection test kits and consumables consists of sales of detection test kits and consumables used for the identification of novel coronavirus (SARS-CoV-2). The market consists of revenue generated by the companies that are manufacturing detection test kits and consumables by the sales of these products.
The kits in the COVID-19 detection test kits and consumables are viral load testing kits (qPCR and RT-PCR), virus-neutralizing assay kits, antibody detection kits (ELISA), viral antigen detection test kits, others.Antibody detection kits are detected in the blood of people who have been previously infected with or vaccinated against a virus that causes a disease.
The consumables are swabs, tubes, viral transfer media, reagents, other consumables.The specimen types are nose & throat swabs, blood, sputum, nasal aspirate.
The various end-users are hospitals, clinics, public health labs, private and commercial labs, physicians labs, research institutes, others.
The escalating demand for cost-effective and quick COVID-19 detection kits coupled with the easing of regulatory processes for COVID-19 detection kits contributed to the growth of the COVID-19 detection kits and the consumables market. With the increasing incidence of COVID-19 (SARS-CoV-2) worldwide, the outbreak was declared as a Public Health Emergency of International Concern (PHEIC) by WHO. The WHO called for research on point of care diagnostics such as Rapid Diagnostic Tests (RTDs), which are small, simple stand-alone tests for use at the community level, and that can be carried out at the site of triage and outside the hospital, by minimally trained staff, round the
Huge demand to increase the capacity combined with a shortage of raw materials used in equipment and a reduced supply of particular reagents and consumables is expected to limit the growth of the COVID-19 detection test kits and consumables market.The pandemic outbreak resulted in lockdown all over the world which has brought shortages of raw materials and halted the supply chain of the particular reagents and consumables for the manufacturing companies as the countries depend on each other for it.
For instance, Mpilo lab, the COVID-19 testing laboratory in Bulawayo has stopped conducting tests due to a critical shortage of consumables. Shortages of raw materials due to the disruption in the supply chain coupled with the high pressure to increase the production capacity to meet the demand is likely to harm the profit margins of 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.
The US FDA has granted Sherlock Biosciences an emergency use authorization (EUA) for the CRISPR test.The Sherlock Biosciences’ CRISPR, therefore becomes the first FDA-authorized CRISPR technology on the market.
Mammoth Biosciences is another company that is extensively working on this technology.
In April 2020, Co-Diagnostics, a molecular diagnostics company has signed an agreement with Promega for additional manufacturing capacity for the urgent production of its Logix Smart COVID-19 test.Promega will support Co-Diagnostics with its innovative solutions and technical support by providing test kits of its new Logix Smart COVID-19 test to meet the demand during the pandemic.
Logix Smart COVID-19 test uses the Co-Primer technology of Co-Diagnostics to target the RdRp gene of the SARS-CoV-2 virus that causes the disease.The test is currently available to all clinical laboratories certified under Clinical Laboratory Improvement Amendments.
Promega Corporation will begin supplying complete test kits for further distribution by Co-Diagnostics. The enhanced partnership enables Co-Diagnostics to reach additional testing facilities while leaning on Promega Corporation’s extensive manufacturing capabilities and increased capacity.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the COVID-19 detection test kits and consumables market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Read the full report: https://www.reportlinker.com/p06280895/?utm_source=GNW
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