Respiratory Pathogen Testing Kits Market will Witness a Substantial CAGR of 6.5% | Latest Trends, COVID-19 Impact and Future Trends By 2030 | Abbott Laboratories, Thermo Fisher Scientific & so on…
Respiratory pathogen testing kits sales are expected to see a staggering growth due to mandatory workplace testing, particularly in high-risk occupations along with growth in funding for respiratory diagnostics. The global respiratory pathogen testing kits market is anticipated to record a CAGR of over 5% in 2020.
Though the molecular diagnostic procedure has come out as a significant part of the research in the life science sector, high expenses involved in operating molecular process (particularly by private laboratories) can constrain market growth, especially in the developing economies
Key Developments & Product Innovation
Antigen testing, rapid molecular assays, immunofluorescence assays, RT-PCR, and vital culture are the diagnostic tests accessible to detect viral and bacterial infections in the current circumstances. “PathoDetect Covid-19 Qualitative PCR kit” manufactured by India-based Mylab, operates on the theory of RT-PCR. The kit is anticipated to detect infection in 2.5 hours (in contrast to 7.5 hours taken earlier). This aspect is likely to catalyze the respiratory pathogen test kits demand in India and the other nations of APAC; as more infections can be detected in less time (seeing the growing number of cases and density of population in this region).
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In wake of Covid-19, the Australian government declared a USD 1.68 billion package comprehensive of respiratory clinics’ network (a new Medicare item to help tele-consultations and communications campaign) in March 2020. The Covid-19 pandemic directed the Russian Direct Investment Fund (RDIF) to produce 500,000 test kits with its partners in March 2020. The manufacturing has augmented to 2.5 million kits per week afterward.
COVID-19 Impact Analysis
COVID-19 outbreak is adversely affecting the overall mental health of individuals, resorting them to unhealthy habits. This could impact the respiratory tract and boost the demand for more testing kits. As such, the market would foresee sizable expansion with the addition of post-COVID-19 modifications apart from the present respiratory deformities.
Respiratory Pathogen Testing Kits: Regional Insights
Europe and the U.S. keep on to be the most lucrative respiratory pathogen testing kits markets worldwide. They jointly hold about 55% of the market share and are projected to keep on with the same trait in the assessment period. Besides Covid-19 and the other subsisting fungal infections /bacterial/viral; a sedentary lifestyle in both these regions is fueling the market.
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The APAC market is additionally picking up; with several local participants engaging in the production of respiratory pathogen testing kits to supply to the rising cases of Covid-19. Moreover, growing economies in the APAC market have been due to gastrointestinal tract infections since low-income groups have a propensity to pay less consideration to dietary hygiene. Another booster for the market is air pollution. According to IQAir, over 20 of the most polluted nations in the world belong to the APAC region. The uncontrollable inhalation of sulfur dioxide and carbon monoxide induces choking of the respiratory tract; thus causing a rise in respiratory pathogen testing kits demand.
A few companies operating in the global market are –
- Abbott Laboratories
- Thermo Fisher Scientific
- Becton, Dickinson, and Company
- Danaher Corporation
- bioMérieux Inc.
- Hoffmann-La Roche Ltd.
- Altona Diagnostics
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