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HEALTHCARE & PHARMACEUTICAL

Virus Testing Diagnostic Kits Market Segmentation By Test Type (Direct Fluorescent Antibody [DFA] Test, Immunochromatographic Assay, Reverse Transcriptase Polymerase Chain Reaction [RT-PCR] Based Test, Agglutination Assay, Solid Phase Assay, Flow Through Assay and Others); By Application (HIV, Hepatitis, Influenza, Measles and Others); By End User (Research Laboratories, Hospitals, Clinics and Others) – Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Virus Testing Diagnostic Kits Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • On February 6, 2020, the Centers for Disease Control and Prevention (CDC) released a statement announcing that it will be releasing a new test kit, the Centers for Disease Control and Prevention 2019-Novel Coronavirus Real-Time Reverse Transcriptase Diagnostic Panel (CDC 2019-nCoV Real Time RT-PCR). This test kit was developed specially for the testing and detection of the new coronavirus disease, COVID-19.

Introduction to Virus Testing Diagnostic Kits

Virus testing diagnostic kits are used for the detection and diagnosis of various types of viral infections. They are necessary as they provide effective and timely detection of the virus in order to control the spread of disease at an early stage. Since a viral infection is spread through the body fluids, the testing method involves collection of body fluids such as blood and other fluids. These kits are majorly used for respiratory and gastrointestinal infections.

Market Size and Forecast

The virus testing diagnostic kits market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by test type, by application, by end user and by region. The test type segment is further segmented into direct fluorescent antibody [DFA] test, immunochromatographic assay, reverse transcriptase polymerase chain reaction [RT-PCR] based test, agglutination assay, solid phase assay, flow through assay and others. Based on this, the segment for immunochromatographic assay is anticipated to hold the leading share in the market on account of high demand for these testing kits and better reimbursement policies by the government. The reverse transcriptase polymerase chain reaction [RT-PCR] based test segment, on the other hand, is anticipated to grow at the highest rate in the virus testing diagnostic kits market as a result of increasing demand for these virus testing and diagnostic kits for testing of the new coronavirus disease, COVID-19. According to the World Health Organization, as of April 7, 2020, there were around 1,279,723 confirmed cases and 72,616 confirmed deaths due to COVID-19 in the world. The disease spread to 211 countries or territories globally and resulted in a global pandemic. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Rising Cases of Newly Discovered Viruses to Boost the Market Growth

Since viruses are constantly mutating and new diseases are being continuously discovered, the demand for virus testing diagnostic kits is high. For instance, the newly discovered coronavirus leads to one such respiratory disorder which might show symptoms between 2 to 14 days of infection. Further, the symptoms are similar to that of common cold which makes it harder to detect the disease at an early stage. As per the Centers for Disease Control and Prevention, the total cases of COVID-19 in the United States were 330,891 as of April 6, 2020 and with 8,910 total deaths. New virus testing diagnostic kits are being developed in research laboratories all over the world which are able to detect the new coronavirus. This is anticipated to significantly expand the virus testing diagnostic kits market.

Globally Improving Healthcare Infrastructure to Drive the Market Growth

The healthcare infrastructure all over the world is improving at a fast pace owing to the increasing number of cases of various diseases which results in a growing demand for better healthcare services, facilities and equipment at clinics and hospitals. The growing research and development for treatment methods at research laboratories further fuels the healthcare industry. On the back of these, the market is predicted to grow over the forecast period.

Restraints

Lack of Required Equipment and Skilled Labor to Hamper the Market Growth

Despite the improving healthcare infrastructure, there is a shortage of necessary equipment in order to meet the growing demand globally as well as lack of skilled labor in the research and development area. This is estimated to hinder the growth of virus testing diagnostic kits market in the future.

Market Segmentation

Our in-depth analysis of the virus testing diagnostic kits market includes the following segments:

By Test Type

  • Direct Fluorescent Antibody [DFA] Test
  • Immunochromatographic Assay
  • Reverse Transcriptase Polymerase Chain Reaction [RT-PCR] Based Test
  • Agglutination Assay
  • Solid Phase Assay
  • Flow Through Assay 
  • Others

By Application

  • HIV
  • Hepatitis
  • Influenza
  • Measles
  • Others

By End User

  • Research Laboratories
  • Hospitals
  • Clinics
  • Others

By Region

On the basis of regional analysis, the virus testing diagnostic kits market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for virus testing diagnostic kits in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market virus testing diagnostic kits. Moreover, the growing requirements for continuously improving the testing and diagnostic methods are met in this region which further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of developing healthcare infrastructure and growing research activities in the region. The improving healthcare facilities in the region, especially in countries such as China, India and Japan further raise the demand for advanced testing kits.Virus Testing Diagnostic Kits Market Graph

The virus testing diagnostic kits market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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