According to a new report published by Allied Market Research, titled, โRapid Covid-19 Antigen Test Kit Market: Global Opportunity Analysis and Industry Forecast, 2021-2030โ COVID-19 has proved to be a menace for human society for the past couple of years. It has left industries wailing, people on the back foot, and supply chain distortions. People suffering from SARS virus experience respiratory and gastrointestinal symptoms, which gradually spreads across systems in the body, thus making it essential to diagnose the virus at an early stage for effective treatment to be administered. Diagnosis is carried through rapid antigen test kit. An antigen is a molecule capable of stimulating immune response. An antigen may be proteins, nucleic acids, and polysaccharides.
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COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
At the early phase of the COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits.
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Rising incidents in the cases of COVID-19 and the subsequent demand in rise of diagnostic tests to establish presence of SARS-CoV2 virus in anticipated to drive market growth for rapid antigen test kits.
Complete shift of healthcare infrastructure towards battling COVID effects coupled with rising awareness of diagnostic procedures in badly hit nations like India and Brazil is anticipated to further increase growth of rapid antigen tests. These nations are witnessing higher administrations of the test among its populace owing to daily new cases of the patients.
Robust government policies coupled with private sector investments into design and development of advanced diagnostic tests that can successfully detect and aid COVID treatment mechanisms is slated to increase penetration of these testing kits. Recently, in India, government announced a 10% GDP for healthcare sector in order to develop diagnostic kits.
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- This study presents the analytical depiction of the rapid covid-19 antigen test Kit industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the rapid covid-19 antigen test Kit market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the rapid covid-19 antigen test Kit growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
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Key Market Players
- Abbott
- Cipla
- AMEDA Labordiagnostik GmbH
- Becton Dickinson
- Beijing Lepu Medical Technology
- BIOSYNEX SWISS SA
- CerTest Biotect S.L.
- Hangzhou Clongene Biotech
- Healgen Scientific Limited
- LumiraDX UK Ltd.
- nal von minden GmbH
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