Viral Diagnostic Test Kits Market Size, Share, Growth Report 2030

Viral Diagnostic Test Kits Market Size

The global Viral Diagnostic Test Kits market accrued earnings worth approximately 12 (USD Billion) in 2019 and is predicted to gain revenue of about 17(USD Billion) by 2026, is set to record a CAGR of nearly 8.1% over the period from 2020 to 2026. The report offers an assessment and analysis of the Viral Diagnostic Test Kits market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Overview

One of the most proficient methods for preventing the spread of SARS-CoV-2 is to create accurate rapid diagnostic tests. Apparently, there are many serological, imaging, and molecular techniques as well as various diagnostic kits for diagnosing infection in clinics. In addition to this, the SARS-CoV-2 determining methods used by labs and firms include molecular methods having the ability to detect viral RNA sequencing, rapid diagnostic tests for identifying virus presence depending on antigens, and imaging methods for determining changes occurring in lungs.

In the molecular approach, PCR and high throughput sequencing are used for identifying virus presence in respiratory samples. Radio imaging methods such as CT-scan are utilized for measuring the level of infection. However, rapid diagnostic tests are used prominently as they are time-savvy and accurate.  They make use of antigens or antibodies for determining virus presence in individuals.

Apart from this, antibody-based testing methods including ELISA are utilized for determining antibodies in samples of patients and assessing whether the subject was infected earlier or not. Furthermore, antibody tests are also done by using blood samples as well as samples of serum and plasma. Furthermore, antigen tests help in detecting the viral antigen presence in respiratory samples along with identifying active infection. Furthermore, viral diagnostic test kits are used for performing these antibody or antigen tests for detecting the virus in the human body. This will steer the viral diagnostic test kits market size.

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Market Growth Dynamics

With the onset of the COVID pandemic, the market for viral diagnostic test kits is anticipated to gain traction over the upcoming years. Apart from this, swine flu and HIV has further added to the demand for viral diagnostic test kits in recent years, thereby driving business trends. A prominent surge in viral infections including respiratory syncytial virus and hepatitis is projected to steer viral diagnostic test kits market size in the years ahead. In addition to this, an outbreak of new viral strains along with the inception of virus infections including Ebola and hemorrhagic fever will create humungous product demand within the next couple of years. Nonetheless, the huge costs of viral diagnostic test kits can restrict the growth of the viral diagnostic test kits industry over the upcoming years.

Moreover, the launching of new rapid test kits and laws favoring the use of viral diagnostic test kits along with the rapid spread of virus-like COVID-19 among the population will chart a profitable growth map for the viral diagnostic test kits industry within the next couple of years. Apart from this, firms are trying to develop new kits to determine the presence of viruses such as COVID-19. Citing an instance, on 9th April 2021, LUCIRA – a medical tech firm producing new infectious ailment test kits, announced successful detection of double mutant COVID-19 variant through its viral diagnostic test kit referred as LUCIRA molecular diagnostic test kit. In addition to this, earlier in March 2021, U.S.-based firm Cepheid is likely to produce point-of-care COVID-19 diagnostic test kits in the Indian sub-continent. Such strategic moves can lay strong foundations for viral diagnostic test kits market growth across the globe in the coming years.

Regional Landscape

North America To Continue Market Domination In Near Future

The growth of the market in the North American sub-continent over the assessment period is attributed to increasing in cases of COVID in countries such as the U.S.  Apart from this, the production of new test kits along with favorable government policies over the manufacture of the products will create strong growth platform for viral diagnostic test kits industry in the sub-continent over the expected timespan. The presence of giant firms in the region will prop up the business landscape in the next decade, thereby further adding to regional market value.

Report Scope

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Competitive Landscape

Key participants profiled in the report are Beckman Coulter, Inc., Bundi International Diagnostics Ltd., F. Hoffman La Roche, Ltd., Nectar Lifesciences Ltd., Abbott Laboratories, PerkinElmer, Inc., BioMerieux SA, Autobio Diagnostics Co., Ltd., Siemens Healthineers AG, Luminex Corporation, Becton, Dickinson and Company, Merck & Co., Inc., Bio-Rad Laboratories, Inc., Quidel Corporation, CerTest Biotec, S.L., Qiagen NV, CorisBioconcept SPRL, Hologic Inc., Mylan NV, and Thermo Fisher Scientific, Inc.

The global Viral Diagnostic Test Kits Market is segmented as follows:

By Test  

• Traditional Tests
• Rapid Test

By Type

• Influenza test kits
• Hepatitis test kits
• Human immunodeficiency virus test kits
• Respiratory syncytial virus test kits 

By End-User

• Diagnostic & clinical laboratories
• Academic & research institutes
• Contract research organizations

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa