Coronavirus Testing Kits Market is expected to grow at a formidable rate During the Forecast Period
Increasing number of COVID-19 cases to drive the growth of India
coronavirus testing kits market
According
to TechSci Research report, “India
Coronavirus Testing Kits Market By Type of Test (Molecular v/s Serology),
By Use (Disposable v/s Reusable), By Full Test Time (5 Minutes, 5- 15 Minutes,
15-60 Minutes, 1 Hours- 5 Hours, 5 Hours-12 Hours, 12 Hours-24 Hours, More Than
1 Days), By Technology (RT-PCR, IgG, IgM ELISA Test, Microneutralization
Assays), By Specimen Type (Nose & Throat Swab, Blood, Sputum, Nasal
Aspirate), By Mobility (Portable v/s Stationary), By End Use (Hospitals,
Clinics, Public Health Labs, Private or Commercial Labs, Physician Labs,
Research Institutes, Others), By Region, Forecast & Opportunities, 2025”, the India coronavirus testing kits market is expected to
grow at a formidable rate during the forecast period on account of the increasing
transmission of disease in the country. Additionally, the Indian government is
trying to get testing kits in shortest time so that they can aggressively test
for the disease and take necessary precautions and provide treatment to combat
the disease. Moreover, various pharmaceutical and biotechnology companies are
partnering to increase the production of coronavirus testing kits. This in turn
is positively impacting the market growth in the country. Furthermore,
increasing healthcare spending and rising need to protect the population from
the outbreak are positively impacting the growth of market. However, challenges
associated with logistics and raw material especially during the lockdown might
hamper the market growth across the country. Also, a tight supply of chemicals
is required for manufacturing these testing kits. Such lack of supply of these
chemicals might negatively impact the market growth. Also, presence of testing
kits by major international players which are being used since months in the
market might further impede the market growth.
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The India coronavirus testing kits market is segmented based on type,
use, full test time, technology, specimen type, mobility, end user, company and
region. Based on type, the market can be bifurcated into molecular and
serological tests. The molecular type of test segment is expected to dominate
the market during forecast period since they look for the signs of an active
infection or symptom. A sample from the back of the throat is taken and sent
for testing. The sample undergoes a PCR test to find out the presence of virus
genetic material. The PCR confirms the diagnosis of COVID-19, if it finds two
genes of SARS-COV-2 virus. These tests are helpful in identifying the current
cases of COVID-19 disease. Based on use, the market can be divided into
disposable and reusable. The disposable testing kits segment is expected to witness
significant growth in the market during forecast period since they are based on
antibody tests and provide early diagnosis of the disease. Additionally, they
provide faster diagnosis, are accurate and simple & convenient to use.
Furthermore, they can be customized according to the requirement. Also, they
are available at competitive prices coupled with fast delivery of the kits.
Based on full test time, the market can be fragmented into 5 minutes, 5- 15
minutes, 15-60 minutes, 1 hours- 5 hours, 5 hours-12 hours, 12 hours-24 hours
and more than 1 days. The 5-12 hours segment is expected to dominate the market
since the most preferable mode for testing RT-PCR, generally takes this much
duration only for the diagnosis of COVID-19. The RT-PCR test is followed by
gene fingerprinting which usually takes time. The 5-15 minutes segment is
expected to witness significant growth until 2025 since many companies have
started manufacturing antibody based rapid testing kits. This in turn is
expected to positively influence the segmental growth. Based on technology, the
market can be categorized into RT-PCR, IgG, IgM ELISA test and
microneutralization assays. The RT-PCR segment is expected to dominate the
market during forecast period on account of its accuracy, specificity and
sensitivity. Additionally, RT-PCR can detect as little as one virus particle
present in the swab. Based on specimen type, the market can be grouped into nose
& throat swab, blood, sputum, nasal aspirate. The blood specimen type
segment is expected to grow rapidly during forecast period on account of the
availability and growing preference for antibody based testing kits since they
provide faster diagnostics of the disease. Based on end user, the market can be
grouped into hospitals, public health labs, private or commercial labs,
physician labs and others. The hospitals segment is expected to dominate the
market through 2025 owing to the presence of sophisticated diagnostic and
treatment facilities in them.
Mylab, New Life Company, Cadila Healthcare, Biocon (Syngene), Eris
Lifesciences, Mylan, Gland Pharma, Medsource Ozone Biomedicals, Helini
Biomolecules, 3B BlackBio Biotech, Alpine Biomedicals, Immunoscience, Nulife
Care, Vanguard Diagnostics, Voxtur Bio, CPC Diagnostics, HLL Lifecare and others
are some of the leading players operating in India coronavirus testing kits market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share. For instance, in March 2020, Pune (India) based molecular diagnostic
company Mylab became the first Indian company to have received the validation
for its COVID-19 diagnostic test kits also known as the Reverse Transcription
Polymerase Chain Reaction (RT-PCR) tests by the Drug Controller of India, after
the National Institute of Virology validated its test. Today, the company along
with companies like Altona Diagnostics and Siemens, is supplying diagnostic
kits to the world. Also, Medsource Ozone is the only company which has got approval
for both RT-PCR based and antibody based testing kits. The company is gearing
up to roll out around 3,00,000 tests in a week and will have its first set of
kits within the next few days.
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“India coronavirus testing kits market is expected to
grow at an impressive rate on account of the increasing prevalence of COVID-19 in
various parts of the country. Additionally, high cost and lack of imported
testing kits is expected to create lucrative opportunities for the local
players. Furthermore, ‘Made In India’ testing kits concepts has led to the
grant of approval to a slew of local testing kits manufacturers thereby
propelling the market across the country.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based “global management consulting
firm.
“India Coronavirus Testing Kits Market By Type of
Test (Molecular v/s Serology), By Use (Disposable v/s Reusable), By Full Test
Time (5 Minutes, 5- 15 Minutes, 15-60 Minutes, 1 Hours- 5 Hours, 5 Hours-12 Hours,
12 Hours-24 Hours, More Than 1 Days), By Technology (RT-PCR, IgG, IgM ELISA
Test, Microneutralization Assays), By Specimen Type (Nose & Throat Swab,
Blood, Sputum, Nasal Aspirate), By Mobility (Portable v/s Stationary), By End
Use (Hospitals, Clinics, Public Health Labs, Private or Commercial Labs,
Physician Labs, Research Institutes, Others), By Region, Forecast &
Opportunities, 2025”, has
evaluated the future growth potential of India coronavirus testing kits market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India coronavirus testing kits market.
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