Selbyville, Delaware, July 13, 2020 (GLOBE NEWSWIRE) -- Asia-Pacific COVID-19 detection kits market is poised to record a remuneration of USD 1.8 billion by the year 2026. Increasing count of positive cases, with China being worst hit and India following closely, owing to substantially high population density are impelling the demand for COVID-19 detection kits. Many APAC countries are taking desperate measures to increase their screening and testing capacity. Favorable government initiatives are encouraging detection kits manufacturing companies to spike-up their production capacity, which is likely to enhance the market outlook.
Outbreak of COVID-19 has led to increasing R&D activities for innovative testing solutions. Increasing geriatric population and surging pervasiveness of chronic diseases are slated to boost the growth of therapeutic and diagnostic centers. Numerous South Korean companies have developed effective testing solutions which provide results almost within an hour. Burgeoning demand for rapid and precise detection kits from various countries is slated to propel the growth of Asia-Pacific COVID-19 detection kits market.
As per the report, Asia-Pacific COVID-19 detection kits market is bifurcated in terms of specimen type, product terrain, end-use scope, and regional landscape.
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Elaborating specimen scope
Speaking of the specimen type, the market is segmented into nasal swab, nasopharyngeal swab, oropharyngeal swab, and others. Among these, nasal swab segment is anticipated to grow with a CAGR of 21% through 2026, due to less specificity and yield of this sample type as compared to its counterparts.
Unveiling product spectrum:
Based on product spectrum, Asia Pacific COVID-19 detection kits market is fragmented into RT-PCR assay kits and immunoassay test cassettes/strips. The latter segment generated nearly USD 22 million in the year 2020 but is poised to record slow growth over the forecast period, owing to its inaccuracy as compared to RT-PCR assay kits. Additionally, necessity of confirmatory molecular testing to cross confirm the immunoassay test strips or cassettes result which may further hamper the product popularity.
Summarizing end-use landscape:
Based on end-use scope, the market is divided into diagnostic centers, hospitals, and others. The hospitals segment share is poised to grow at 17.5% CAGR during 2020-2026, owing to the fact that most patients contact hospitals to diagnosis and treatment of COVID-19. Hospitals are well equipped with advanced testing devices and boast the presence of skilled medical professionals to treat the patients.
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Scrutinizing regional scenario:
Based on regional landscape, China COVID-19 detection kits market is poised to register a CAGR of 25% over the forecast duration, due to burgeoning cases of COVID-19 infection and increasing need for critical care and diagnosis.
Asia-Pacific COVID-19 Detection Kits Market Specimen Analysis (Revenue, USD Million, 2020-2026)
- Oropharyngeal swab
- Nasal swab
- Nasopharyngeal swab
- Others
Asia-Pacific COVID-19 Detection Kits Market Product Analysis (Revenue, USD Million, 2020-2026)
- Immunoassay test cassettes or strips
- RT-PCR assay kits
Asia-Pacific COVID-19 Detection Kits Market End-Use Analysis (Revenue, USD Million, 2020-2026)
- Diagnostic centers
- Hospitals
- Others
Asia-Pacific COVID-19 Detection Kits Market Regional Analysis (Revenue, USD Million, 2020-2026)
- China
- Australia
- Malaysia
- South Korea
- Indonesia
- New Zealand
- Philippines
- Singapore
- Thailand
- Japan
- India
Asia-Pacific COVID-19 Detection Kits Market Competitive Landscape Analysis (Revenue, USD Million, 2020-2026)
- Abbott Laboratories
- Seegene
- BioFire Diagnostics
- BGI
- Cepheid Inc.
- F. Hoffmann-La Roche AG
- Guangzhou Wondfo Biotech
- Mylab Discovery Solutions
- Qiagen
- Co-Diagnostics, Inc.
- SD BioSensor Inc.
- Thermo Fisher Scientific
- Shenzhen Bioeasy Biotechnology Co. Ltd.
Table of Content:
Chapter 1. Methodology
1.1. Definition and forecast parameters
1.1.1. Definitions
1.1.2. Methodology and forecast parameters
1.2. Data sources
1.3. References & sources
1.3.1. Secondary
1.3.2. Primary
Chapter 2. Executive Summary
2.1. Asia Pacific COVID-19 detection kits industry 360A? synopsis, 2020 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Specimen type trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry outlook, 2020 - 2026
3.3. Major factor analysis
3.4. Asia Pacific regulatory landscape
3.5. Portera??s analysis
3.6. Competitive review, 2020
3.7. PEST analysis
Chapter 4. Asia Pacific COVID-19 Detection Kits Market Forecast, By Product
4.1. Key trends in Asia Pacific COVID-19 detection kits, by product
4.2. RT-PCR assay kits
4.2.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
4.2.2. Market estimates and forecast, by country, 2020 a?? 2026 (Units)
4.3. Immunoassay test strips/cassettes
4.3.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
4.3.2. Market estimates and forecast, by country, 2020 a?? 2026 (Units)
Chapter 5. Asia Pacific COVID-19 Detection Kits Market Value, By Specimen Type
5.1. Key trends in Asia Pacific COVID-19 detection kits, by specimen type
5.2. Nasopharyngeal swab
5.2.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
5.3. Oropharyngeal swab
5.3.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
5.4. Nasal swab
5.4.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
Chapter 6. Asia Pacific COVID-19 Detection Kits Market Size, By End-use
6.1. Key trends in Asia Pacific COVID-19 detection kits, by end-use
6.2. Hospitals
6.2.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
6.3. Diagnostic centers
6.3.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
6.4. Others
6.4.1. Market estimates and forecast, by country, 2020 a?? 2026 (USD Million)
Chapter 7. Asia Pacific COVID-19 Detection Kits Market Share, By Country
Related Report:
North America COVID-19 Detection Kits Market Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026
North America COVID-19 Detection Kits Market value is set to exceed USD 1.7 billion by 2026, as per new research report. The rising number of coronavirus positive cases will serve to a key impact rendering factor for North America COVID-19 detection kits market growth over the forecast period. After China and Italy, U.S. rapidly climbed the ladder to become the epicenter of global COVID-19 pandemic, with the highest number of COVID-19 positive cases. With the rapidly spreading COVID-19 disease throughout the continent, the demand for COVID-19 detection kits is expected to witness robust growth over the forecast timeframe.
North America region is expected to witness a rapid expansion of the geriatric population segment over the forecast period. As the geriatric population base expands, the demand for accurate and early diagnosis of COVID-19 infection will rise to render a significant positive impact on industry growth. However, low accuracy of immunoassay-based detection kits will impede the North America COVID-19 detection kits market growth to some extent over the forecast timeframe.
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