The Global COVID-19 Rapid Test Kits Market Report by The Business Research Company covers COVID-19 rapid test kits market drivers and restraints, COVID-19 rapid test kits market size, major players, and the impact of COVID-19 on the COVID-19 rapid test kits market.
The COVID-19 rapid test kits market consists of sales of rapid test kits used for COVID-19 diagnosis and detection. The COVID-19 rapid test kits are either rapid antigen test kits or rapid antibody test kits manufactured by the entities that manufacture in-vitro rapid diagnostic tests in the medical equipment industry. The companies involved in manufacturing these rapid test kits are primarily engaged in designing, research and production of the rapid test kits which are used in hospitals and clinics, home care, diagnostic laboratories and more.
The global COVID-19 rapid test kits market was expected to decline from $14.94 billion in 2020 to $8.81 billion in 2021 at a compound annual growth rate (CAGR) of -41%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The COVID-19 rapid test kits market is expected to reach $0.27 billion in 2025 at a CAGR of -58%.
Government regulations and steps to provide diversified diagnostic approaches are expected to boost the market growth during the forecast period. Better diagnostics facilities are required to overcome the increasing spread of COVID-19 cases globally, particularly in the rising geriatric population.
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Some COVID-19 rapid test kits market trends include incorporation of Artificial Intelligence (AI) algorithms with the rapid diagnostic test kits.
Global COVID-19 rapid test kits market segments include:
1) By Test Type: Rapid Antigen Test, Rapid Antibody Test, Others
2) By Kit Type: Equipment and Extraction Kits, RT-PCR Test Kits, Reagents
3) By Specimen Type: Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab, Others
4) By End-Users: Hospitals And Clinics, Diagnostic Laboratories, Home Care, Others
5) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The COVID-19 Rapid Test Kits Global Market Report 2021: COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides COVID-19 rapid test kits market overviews, analyzes and forecasts market size, share, COVID-19 rapid test kits market players, COVID-19 rapid test kits market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The COVID-19 rapid test kits identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read COVID-19 Rapid Test Kits Global Market Report 2021: COVID-19 Implications And Growth from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Thermo Fisher Scientific, Abbott Laboratories, BioMedomics, CTK Biotech, F. Hoffmann-La Roche AG, Cepheid Inc., Cellex Inc., Acumen Research Laboratories, Biolidics, and LabCorp.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The COVID-19 Rapid Test Kits Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The COVID-19 Rapid Test Kits Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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