Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 30,185.4 Million | USD 9,727 Million | 17.20% | 2021 |
FrequentlyAsked Questions
One of the key factors driving the market's rise is the rising elderly population. This is due to decreased immune systems in older individuals, which increases the risk of infections. The majority of the elderly population also has immune system issues because they have chronic conditions including diabetes, cancer, cardiovascular disorders, etc.
According to the report, the global COVID-19 Detection Kits market was worth 30,185.4 (USD million) in 2021 and is predicted to grow to around 9,727 (USD million) by 2028, with a compound annual growth rate (CAGR) of around -17.20%.
North America is expected to dominate the COVID-19 Detection Kits Market in 2021. Both the United States and Canada have contemporary, well-equipped healthcare facilities, which has aided in regional development. In addition, a rise in healthcare costs driven by more awareness will also increase market share. The market outlook is also expected to improve in the next years as a result of rising healthcare costs and an increase in COVID-19 infections.
Some of the main competitors dominating the Global COVID-19 Detection Kits market include - BGI, Abbott Laboratories, Qiagen, Quidel Corporation, Shenzhen Bioeasy Biotechnology Guangzhou Wondfo Biotech, BioFire Diagnostics, F. Hoffmann-La Roche, Mylab Discovery Solutions, GenMark Diagnostics, Seegene, Randox Laboratories, Cepheid, Co-Diagnostics, SD Biosensor, and Thermo Fisher Scientific among others.
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