COVID-19 Saliva-Based Detection Kits Market Revenue To Witness Rapid Growth In Near Future : FactMR
As per Fact.MR – market research and competitive intelligence provider, the global COVID-19 saliva-based detection kits market was valued at US$ 1.4 Bn in 2020, with demand expected to decline at a CAGR of -2.8% over the forecast period (2021-2031).
COVID-19 is a severe and infectious disease, with diagnosis at the initial stage playing a significant role in stopping the further increase of cases. At present, the old method of sampling, i.e., nasopharyngeal swab is majorly used for testing. However, the emerging technique of saliva-based testing is a promising alternative for COVID-19 diagnosis.
When patients need to get urgent care for more critical flu-like symptoms, physicians need to perform diagnostic tests as soon as possible. To meet this requirement, test kits should be available at cheaper costs, easy to handle, rapid, and equipment-free. This creates an opportunity for market players to come up with innovative devices to fulfil the requirements of patients and physicians in the future. Due to rising approvals of COVID-19 test kits that are convenient and simple to use, manufacturers are aiming to introduce new products in the market and get them approved.
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- For Instance, in July 2021, Nalagenetics and Nusantics obtained regulatory approval to launch PCR test kits to detect COVID-19 from saliva samples. These kits will function as alternatives to nasal and throat swab tests.
Leading players are focusing on advancements in in-vitro diagnostic procedures with rapid testing. These advancements are expected to gain popularity and generate high revenue in the market.
- For instance, in April 2021, Therma Bright Inc. announced that it had received CE approval from an EU-competent authority of Belgium for its AcuVid™ COVID-19 rapid antigen saliva test.
Key Takeaways from Market Study
- By product, PCR-based kits hold around 73.5% value share of the global market in 2021.
- Based on technology, RT-qPCR is leading with 49.2% market share in 2021.
- Based on application, COVID-19 diagnosis is leading with 63.1% market share in 2021.
- By end user, diagnostic laboratories dominate the market with a value share of 26.8% in 2021, while on the other hand, academic and research institutes are expected to increase at a higher CAGR of 2.5%.
- By country, the U.S. dominates the North America market with a value share of 91% in 2021.
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Key Segments Covered in COVID-19 Saliva-based Detection Kits Industry Research
- Rapid Test Kits
- PCR-based Kits
- Direct Sample to PCR
- Lateral Flow Assays
- COVID-19 Research
- COVID-19 Diagnostics
By End User
- Diagnostic Laboratories
- Hospitals & Clinics
- Academic and Research Institutes
- Biopharma Companies
- Long Term Care Facilities
- Home Care Settings
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Crucial insights in the COVID-19 Saliva-Based Detection Kits Market research:
- Underlying macro- and microeconomic factors impacting the growth of the COVID-19 Saliva-Based Detection Kits Market Basic overview of the COVID-19 Saliva-Based Detection Kits Market including market definition, classification, and applications.
- Scrutinization of each COVID-19 Saliva-Based Detection Kits Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of COVID-19 Saliva-Based Detection Kits Market across various industries.
- Important regions and countries offering lucrative opportunities to COVID-19 Saliva-Based Detection Kits Market stakeholders.
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