COVID-19 Detection Test Kits and Consumables Market Analysis, Trends And Insights 2023

The COVID-19 Detection Test Kits And Consumables Global Market Report 2023 by The Business Research Company, provides COVID-19 detection test kits and consumables market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s COVID-19 Detection Test Kits And Consumables Global Market Report 2023, the market size grew from $6.7 billion in 2022 to $7.25 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global covid-19 detection test kits and consumables is expected to grow from $9.83 billion in 2027 at a CAGR of 7.9%.

The escalating demand for cost-effective and quick COVID-19 detection kits coupled with the easing of regulatory processes for COVID-19 detection kits contributed to the growth of the COVID-19 detection kits and consumables market.

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The COVID-19 detection test kits and consumables market is segmented:

1) By Kits: Viral Load Testing Kits (qPCR and RT-PCR), Virus Neutralizing Assay Kits, Antibody Detection Kits (Elisa), Viral Antigen Detection Test Kits, Other Kits

2) By Consumables: Swabs, Tubes, Viral Transfer Media, Reagents, Other Consumables

3) By Specimen Type: Nose & Throat Swab, Blood, Sputum, Nasal Aspirate

4) By End Use: Hospitals, Clinics, Public Health Labs, Private And Commercial Labs, Physicians Labs, Research Institutes, Other End Uses

CRISPR, a new diagnostic test for COVID-19 is based on CRISPR technology and can run on nasal swabs. CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) based technologies are genomic editing technologies used for the exact detection of COVID-19 cases in an hour. The US FDA has granted Sherlock Biosciences an emergency use authorization (EUA) for the CRISPR test. The Sherlock Biosciences’ CRISPR, therefore becomes the first FDA-authorized CRISPR technology on the market. Mammoth Biosciences is another company that is extensively working on this technology.

The COVID-19 detection test kits and consumables market report table of contents includes: