Global Corona Virus Test Kits Market 2020-2025
April 3, 2020
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GLOBAL CORONA VIRUS TEST KIT MARKET
The global outbreak of Coronavirus has imparted a fear in people’s mind. There is a requirement of a test kit to be deployed on a massive scale to test and isolate affected people. The numbers of patients in hospitals is exponentially increasing and due to this concerned governments are trying to get as many testing kits they can in shortest possible time to contain the pandemic.
- Top 60 countries with highest COVID-19 infections
The test kit is mainly used by the medical personnel in the hospitals to diagnose the patients with symptoms. But of late testing has been carried out on almost everyone at the hospitals since there has been few positive cases where in people were not exposed earlier and had not developed any symptoms. There is major shortage of these test kits all across the globe. Many manufacturers are starting to produce these kits. German molecular testing company Qiagen has increased the production by 70%.
Singapore has developed its own corona virus diagnostic kit, and is prepared to ship them to other countries. Korean made test kits are finding large buyers internationally as almost 50 countries have approached Korean test kit manufacturers.
DiaSorin SpA biotech company from Italy is evidently one of the few companies whose share prices have gone up in past month. DiaSoorin has been developing the test kits for COVID-19 disease. They are anticipating earning of at-least 5-10 million euros from its new kit.
FUNDING ALLOTED BY GOVERNMENTS FOR FIGHTING COVID-19
RECENT MARKET TRENDs
Roche Diagnostics Swiss pharmaceutical company has started shipping 400k medical kits to US every week.
BRIEF-Curetis are offering COVID-19 test kits all across Europe.
Australian Regulators have approved rapid Covid-19 testing kits manufactured by Melbourne bases company and are expected to export 50,000 kits in its initial shipment.
Japan’s Kurabo Industries Ltd has apparently launched new range of testing kit which is expected to give results in 15 mins.
FDA has apparently approved the test kits developed by the scientists from the University of Philippines. These test kits are expected to be exported in large numbers soon.
In South Korea as many as 4 test kit manufacturing companies have been assisting medical personnel and are testing about 20,000 people per day.
Iranian diagnostic company Pishtaz Teb Zaman has been the country’s leading test kit so far and are capable of producing about 80,000 kits weekly. They are anticipating expanding the sales up to 400,000 of these kits in one month.
US airforce has flown 500,000 testing kits from Italy to the country.
Pune based Mylab becomes first Indian company whose test kits are approved by FDA.
World`s biggest auto supplier, Bosch has developed a new testing kits which can provide results in less than 3 hours at the point of contact, doing away with transportation of samples.
MARKET SIZE AND FORECAST
With the cases going beyond control, testing kits are expected to be sold like hot cakes. However, there are many research centres collaborating with the pharmaceutical and healthcare companies to ramp up the production of test kits. There has been unprecedented amount of research and development going on to reduce the test duration so as to increase the number of tests.
U.K based Mologic Ltd in collaboration with Senegalese research foundation have made the kits which take about only 10 minutes to complete the test. The rapid test kits are expected to boost the market. EU has confirmed that new certified kits made from Curetis will be made available to European countries. Thermo Fischer US manufacturer is trying to ramp up the production to 2 million test kits a week.
Scientists in Bangladesh have developed corona virus test kits at an individual cost of $ 3 is expected to be available in 3 weeks.
There are developments going on to make sure the kits are available for the public to take tests at home. These kits demand to be simpler yet effective; 4 catalyzer US manufacturer has been trying to come up with kits that provide rapid results.
The Global Coronavirus test kit market is estimated at $XX Million in 2020
US CORONAVIRUS TEST KIT MARKET
- Tests per day in US has increased 25 times to 100,000 in just 20 days from 05 March to 25 March
- US is planning to expand this to 150,000 per day till the end of April
- US has completed 3500 tests per million of their population and it needs to go beyond 10,000. For this, they’ve to increase their testing rate to 150,000-200,000 per day
EUROPE CORONAVIRUS TEST KIT MARKET
- Italy, Spain, France, UK and Switzerland are collectively doing 85,000 tests per day
- Germany and Switzerland are doing aggressive testing and taking precautionary measures, this has helped them in restricting the virus outbreak
- Germany has performed more than 900,000 tests in the previous month making their tests per million population ratio more than 11,000, Switzerland’s tests per million population ratio is more than 15,000 which is highest in the world
- European Union regulations are easier to pass than Chinese and American regulations making Europe a favourable market for start-ups
SOUTH KOREA CORONAVIRUS TEST KIT MARKET
- South Korea has tested more than 400,000 people and testing more than 15,000 people in a day, one of the most aggressively testing countries
- S.Korea is rapidly becoming a key supplier of test kits and currently exporting kits to several Asian and European countries including Italy and India.It is producing more than 100,000 kits in a day
CORONAVIRUS TESTS PER DAY AND REQUIREMENT OF HIGHLY AFFECTED COUNTRIES
|Sl no||Country||Actual Tests per day as of 31st March 2020(Units)||Requirement Tests per day as of 31st March 2020(Units)|
Source: Government agencies
The outbreak has led to immediate requirement of the test kits and many pharmaceuticals and healthcare firms have come together to produce kits at large scale. Some of the leading manufacturers are Qiagen (Germany), Roche (Switzerland), Seegene (South Korea), Solgent (South Korea), Curetis (Germany), Kurabo (Japan), Mologic (UK) and Thermo Fischer (UK).
- MD Solutions
- Pishtaz Teb Zaman Diagnostics
- Thermo Fischer
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- Global Corona virus Test kits market demand estimation(Volume and Value), split by top 60 countries-2020
- List of all new companies manufacturing the test kits as of date
- Government spending on Coronavirus testing by country
- Top 10 test kits and their manufacturers with quickest turnaround time
- Top 10 countries with negligible domestic kit manufacturing
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