Global COVID-19 Testing Strategic Business Report 2023-2030 - The Need for Rapid Mass Testing Pushes for Production of Novel Testing Platforms

Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "COVID-19 Testing - Global Strategic Business Report" report has been added to * ResearchAndMarkets.com's* offering.

*Global COVID-19 Testing Market to Reach $5.8 Billion by 2030*

The global market for COVID-19 Testing estimated at US$24.2 Billion in the year 2022, is projected to reach a revised size of US$5.8 Billion by 2030, growing at a CAGR of -16.3% over the analysis period 2022-2030.

The global COVID-19 Testing market is poised for growth, with anticipated annual revenue increases projected from 2022 to 2030. This upswing follows a period of steady expansion experienced between 2020 and 2022.

Diverse segments, including RT-PCR Assay Kits, Immunoassay Test Strips/Cassettes, Nasopharyngeal Swabs, Oropharyngeal Swabs, Nasal Swabs, and Other Specimen Types, contribute to the market's development.

In the report, RT-PCR Assay Kits, one of the segments, is expected to exhibit a -17.1% CAGR and achieve a market value of US$3.9 Billion by the conclusion of the analysis period. Similarly, the Immunoassay Test Strips/Cassettes segment is anticipated to witness growth with a -14.4% CAGR over the next eight years.

Geographically, pivotal regions like the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, the Middle East, and Africa significantly influence the market's dynamics. End-users such as hospitals, diagnostic centers, and other applications are key drivers of market demand. This underscores the vital role of COVID-19 testing in healthcare and diagnostic industries.

The U.S. COVID-19 Testing market is estimated at US$5.9 Billion in 2022, while China, the world's second-largest economy, is projected to reach US$56.9 Million by 2030, albeit with a -30.7% CAGR from 2022 to 2030.

Noteworthy geographic markets also include Japan and Canada, both anticipated to decline by -15.2% and -14.6%, respectively, during the 2022-2030 period. Germany, within Europe, is forecasted to decline at an approximate -13.9% CAGR.

Distinguished healthcare players like Abbott Laboratories, Hologic Inc., and Thermo Fisher Scientific, amongst others, feature in the comprehensive competitor analysis.

*GLOBAL MARKET OVERVIEW*

· Types of COVID-19 Testing
· Different Types of Coronavirus Tests
· Performance Analysis of COVID-19 Tests
· Rapid Tests Help in Controlling the Virus
· How Will COVID-19 Testing Change in 2021
· Massive Testing to Become a Way of Life
· COVID-19 to Drive Hospital and Diagnostic Lab Revenues in 2021
· COVID-19 Testing Witnesses Staggering Growth Due to Rising Incidence of Corona Virus
· Total Number of COVID-19 Tests Conducted in the Most Impacted Countries: As of September 1st, 2021
· Total Number of COVID-19 Tests Worldwide in Select Countries: As of September 1st, 2021
· Molecular Tests (RT-PCR) Occupy a Predominant Share of the COVID-19 Testing Market
· Select Approved COVID-19 Molecular Assay Tests
· Immunoassays to Witness Fastest Growth
· Increasing Demand for Antibody Tests
· How Antibody (Serology) Tests Were Approved and Developed
· Select COVID-19 Immunoassay Kits
· List of US FDA Approved Antigen Tests
· Nasopharyngeal/Oropharyngeal Swabs Remain Primary Sample Type
· Diagnostic Laboratories Constitute the Largest End-use Segment
· RECENT MARKET ACTIVITY
· Recent Launches

*MARKET TRENDS AND ISSUES*

· Rising Incidence of Coronavirus Cases Drive the Need for Testing
· COVID-19 Most Impacted 18 Countries Worldwide: As on September 1st, 2021
· Pandemic Gives Rise to Innovative Partnership Models
· Broader Adoption of Reverse-Transcription Polymerase Chain Reaction-based Diagnostics
· Increasing Point-of-Care Molecular Testing
· Accelerated Development and Faster Adoption of New Technologies
· Expansion of Manufacturing Capacity in Asia and Shift of Supply
· Positioning for the Future
· Some Innovative Testing Methods for COVID-19:
· CRISPR
· Bioluminescence Testing
· Lab-on-chip Testing
· LAMpore Kits
· Covid-19 NudgeBox Test by DNANudge
· High Risk of Infection in Geriatric Population Drives COVID-19 Testing Market
· Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
· Rapid Test Kits Market for COVID-19 to Exhibit Exponential Growth
· Select Approved COVID-19 Rapid Tests
· Point-of-Care Tests Witness Rapid Growth
· High-Speed NanoPCR Technology Developed for Point-of-Care Diagnosis of COVID-19
· Mass Community Testing Holds the Key for Effective COVID-19 Management
· The Need for Rapid Mass Testing Pushes for Production of Novel Testing Platforms
· CRISPR Emerges as Cutting-Edge Biotechnology in COVID-19 Diagnostic Market
· Innovations and Approvals
· Portable PoC Test with a Smartphone Reader
· Saliva Test
· FDA Approves First Molecular Test for Asymptomatic Patients
· New Molecular Test N1-STOP-LAMP
· LumiraDx SARS-CoV-2 Antigen Test
· Integration of Sophisticated Technology to Drive Market Growth
· Isothermal Amplification: An Effective Alternative to RT-PCR for COVID-19 Testing
· In-home Testing for Covid-19
· FDA Authorizes Home Collection Option for LabCorp's COVID-19 Diagnostic Test
· A Rapid Genomics Strategy to Trace Coronavirus
· The pioneering of Rapid Genomics
· Digital Healthcare Gains Spotlight Amid COVID-19 Pandemic
· Digital Technologies Gaining Adoption Amid COVID-19
· List of COVID-19 Contact Tracing Apps
· Amazon Offers FDA-Approved COVID-19 Test
· Alliance of BMGF and Life Science Companies Pledge to Improve Access
· Ensuring the Perfect Mix of COVID-19 Testing
· Testing Rate & Average Turnaround Time to Results as Key Metrics
· Growing Significance of Pooled Testing
· Participation of Public & Private Sector
· Avoiding Supply Mismatch
· Recent Launches
· New Test Detects SARS-CoV-2 in Less Than Five Minutes
· New COVID-19 Test Provides Faster Results and Eliminates False Negatives
· New Rapid Lateral Flow Immunoassay Developed
· University of California Develops Rapid, Accurate Testing for SARS-CoV-2 Antibodies
· Abbott Plans Shipment of Tens of Millions of At-Home Coronavirus Tests Costing $25 in Early 2021
· Quidel Gains FDA Approval for Sofia 2 Antigen Test
· Improving Medicine with Innovation and Technology and Massachusetts Institute of Technology Develop COVID-19 Testing Impact Calculator (U.S.)
· Nanomix Offers eLab COVID-19 Rapid Antigen Test
· Abbott Receives FDA Approval for BinaxNow
· Roche Introduces Elecsys SARS-CoV-2 Antigen test
· DnaNudge Offers CovidNudge Test
· Open-Source Toolkit Helps Developing Countries Meet Demand for COVID-19 Diagnostics
· 3M Joins Hands with MIT's Sikes Lab to Create Rapid & Affordable COVID-19 Test
· ZTA Biotech Announces "Breakthrough" Development with Antibody Test
· Molecular Diagnostics Firm QuantuMDx Group Set to Scale up Production of Rapid PCR COVID-19 Device
· Mologic Granted CE Mark for Rapid Antigen Test
· FDA Approves Abbott's COVID-19 Antigen Test
· AptameXTM
· COVID-19 Testing - Global Key Competitors Percentage Market Share in 2022 (E)
· Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
· Global Market Prospects and Outlook
· US and Europe Dominate, Asia-Pacific to Witness Fastest Growth

*FOCUS ON SELECT PLAYERS **(Total 547 Featured)*

· Adaltis Srl
· Alfa Scientific Designs, Inc.
· A*STAR Experimental Therapeutics Centre
· AITbiotech Pte., Ltd.
· Altimmune, Inc.
· ADS Biotec, Inc.
· Accelerate Diagnostics, Inc.
· AccuBioTech Co., Ltd.
· Access Bio, Inc.
· Abwiz Bio Inc.
· AB Diagnostic Systems GmbH
· 1drop, Inc.
· 3B BlackBio Biotech India Ltd.
· Abacus Diagnostica Oy
· Aldatu Biosciences

*REGIONAL MARKET ANALYSIS*

*UNITED STATES*

· US Emerges as a Major Market for COVID-19 Tests
· Covid-19 Test Supply Chain Issues in the US
· Challenges Associated with COVID-19 Testing
· Impact of Surveillance Testing on COVID-19 Test Supply Chain
· CDC Funding for Covid-19 Vaccination & Testing-Related Activities
· Escalating Cases of COVID-19 Lead to Spurt in Diagnostic Test Innovations
· Uptake of At-Home Tests Remains Modest
· FDA Approves 2 Rapid, At-Home Coronavirus Tests
· Select Point Of Care Home Tests in the US
· Pharmacies Now Offering Over-The-Counter Same-day COVID Tests
· HHS Introduces Pilot Program for Cartridge-based Covid-19 Molecular Test Kits
· Oura Develops New Smart Ring to Detect Covid-19 Symptoms at Early Stage (Finland)
· Issues with Existing Testing Options
· Issues with At-Home and Point-of-Care Rapid Tests
· Disparate Costs Continue to Plague US Covid-19 Testing
· With Spike in COVID-19 Cases Roiling Testing Efforts, NIH Eyes on Rapid Tests to Push Capacity
· Promising Technologies under RADx Program
· Rapid COVID Tests: Important Tool for Recovery
· California University Installs Vending Machines to Dispense COVID-19 Testing Kits to Students
· FDA Assumes Lukewarm Stance to Home Tests despite COVID-19 Testing Lag in US
· CMS Prioritizes Covid-19 Testing: Announces New Reimbursement Rules
· CMS Decreases Price for High-Throughput Technology-Based Covid-19 Testing
· Aging Demographics: A Major Driving Factor
· NIH Funding
· US FDA Approved COVID-19 Tests

*CANADA*

· Market Analysis
· New Cheaper and Faster COVID-19 Rapid Test Kit Obtains Approval
· Canada Approves First Antigen-Based Rapid COVID-19 Test
· Government of Ontario Introduces Covid-19 Screening Tests at Toronto Pearson International Airport
· New Federal Rule in Canada for Air Passengers' COVID-19 Tests

*JAPAN*

· Japan Moves to Low-Cost PCR Testing
· Rapid Testing Still Costs a Bomb
· Medical Clinics Edge

*CHINA*

· China's Qingdao Embarks on Ambitious Mission to Test Entire Population of City for COVID-19 in Five Days

*UNITED KINGDOM*

· Pandemic Exposes Deficiencies in the UK Healthcare System
· UK Opens New Vaccine Centers to Expand Asymptomatic Covid-19 Testing
· Mandatory COVID-19 Tests for UK-Bound Travellers
· Mass Testing Program for COVID-19
· Mass Testing in Schools
· Mass Testing in Cities and Towns
· New `Mega Labs` to Speed Up COVID-19 Testing in Early 2021

*INDIA*

· India Hastens Strides toward COVID-19 Testing & Significantly Exceeds Testing Criteria Set by WTO
· Increase in Daily Tests for COVID-19 in India
· Indian Researchers Develop Foremost Paper-based Test to Get Handle over COVID-19
· Researchers in India Successfully Develop Saliva-based Test for COVID-19
· Home Kits for COVID-19 Testing in India
· The Rockefeller Foundation Injects New Grants to Boost Covid-19 Testing & Surveillance in India

*SOUTH KOREA*

· Authorities Succeed In Successfully Evading the Virus Impact
· Widespread Roll Out of Testing Laboratories Yields Results

*AFRICA*

· WHO Pushes for Rapid Testing to Boost Africa's Response to COVID-19 Pandemic
· COVID-19 Testing Benefits from Existing TB and HIV Laboratory Systems
· RDTs Arrive in African Countries

For more information about this report visit https://www.researchandmarkets.com/r/6fzhz7

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