The global COVID-19 rapid test kits market is expected to reach $3.52 billion by the end of 2020 and expected to be $4.22 billion by 21 at a rate of 19.7%. The significant growth rate is mainly due to the surge in demand for the rapid test kits for early detection and treatment of COVID-19 globally. The market is then expected to stabilize and reach $4.73 billion in 2023 at a rate of 10.36%.
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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.
Global COVID19 Rapid Test Kits Market Segmentation –
The global covid19 rapid test kits market report is segmented:
1) By Test Type: Rapid Antigen Test, Rapid Antibody Test, Others.
2) By Kit Type: Equipment And Extraction Kits, rRT-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.
Global COVID19 Rapid Test Kits Market Driver –
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. Robust funding and investments by public as well as private agencies for the rapid and innovative development of diagnostics for COVID-19 are expected to further boost the market.
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Few Points From The Global COVID19 Rapid Test Kits Market TOC
1. Executive Summary
2. COVID19 Rapid Test Kits Market Characteristics
3. COVID19 Rapid Test Kits Market Size And Growth
3.1. Global COVID19 Rapid Test Kits Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global COVID19 Rapid Test Kits Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. COVID19 Rapid Test Kits Market Segmentation
5. COVID19 Rapid Test Kits Market Regional And Country Analysis
5.1. Global COVID19 Rapid Test Kits Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global COVID19 Rapid Test Kits Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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