LONDON--(BUSINESS WIRE)--The coronavirus test kits market in Europe will post a decremental growth of USD (139.05) million during 2020-2024. Despite the impact of the COVID-19 pandemic, the growth for this market is expected to remain steady in the first half of 2020 and throughout the forecast period.
Request for Technavio's latest reports on directly and indirectly impacted markets
Market estimates include pre- and post-COVID-19 impact on the coronavirus test kits market - Request free sample pages
Germany has been witnessing a comparatively lower COVID-19 related casualty rate due to rapid mass testing in the country. As many as 120,000 people are being tested per week. In addition, government agencies in Germany are planning to further increase the number of daily tests to 200,000 by the first week of April, 2020. Similarly, the high intensity of the pandemic in Italy has urged government authorities to launch large-scale testing of the population. Such measures are increasing the demand for coronavirus testing kits across Europe.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
https://www.technavio.com/report/coronavirus-test-kits-market-in-europe-industry-analysis
The market is driven by the increase in government funding. In addition, the rising focus on the prevention of coronavirus pandemic is anticipated to boost the growth of the coronavirus testing kits market in Europe.
Governments and regulatory bodies across Europe are extending support to vendors that offer coronavirus testing kits by providing funding. For instance, in January, the European Commission granted around USD 11 million from its research and innovation program, Horizon 2020, to boost research on coronavirus. Similarly, in March 2020, the Government of UK announced a USD 60 million aid package to fight the novel disease. It also includes funding for a rapid diagnostic test and assistance to the health system in vulnerable countries. Also, countries such as Germany, Italy, and Switzerland have announced coronavirus investment funds to reduce the impact of the pandemic. These factors are creating a surge in the demand for coronavirus testing kits in Europe.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Test Kits for Coronavirus Testing Companies:
3D Biomedicine Science and Technology Co. Ltd.
3D Biomedicine Science and Technology Co. Ltd. operates its business through a unified business segment. The company offers ANDiS SARS-CoV-2 Detection kit. It is an integrated solution used for the detection of SARS-CoV-2 and distinguish SARS-CoV-2 from Influenza A/B virus.
Abbott Laboratories
Abbott Laboratories operates its business through segments such as Established Pharmaceuticals, Nutritionals, Diagnostics, and Medical Devices. The company offers Abbott RealTime SARS-C0V-2 assay. It is a molecular test for the identification of SARS-CoV-2.
BGI Genomics Co. Ltd.
BGI Genomics Co. Ltd. operates its business through segments such as Molecular genetics, Sequencing services, Mass Spec, and Pharma solutions. The company offers Real-Time Fluorescent RT-PCR kit. It consists of a qualitative in vitro nucleic acid amplification assay. It is used to detect SARS-CoV-2 using reverse transcription PCR from throat swab and Bronchoalveolar Lavage Fluid (BALF) samples.
bioMérieux SA
bioMérieux SA operates its business through a unified business segment. The company offers SARS-COV-2 R-GENE test. It is a real time PCR test that is clinically validated on one type of respiratory specimen to detect SARS-CoV-2.
Co-Diagnostics Inc.
Co-Diagnostics Inc. operates its business through segments such as Products and Applications. The company offers Logix Smart Coronavirus 2019 test kit. It is a vitro diagnostic test that uses patented CoPrimer technology for the qualitative detection of the RNA from SARS-CoV-2 coronavirus.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Coronavirus Test Kits Market Regional Outlook (Revenue, USD Million, 2020-2024)
- Germany
- Italy
- UK
- France
- Rest of Europe
Coronavirus Test Kits Market End-user Outlook (Revenue, USD Million, 2020-2024)
- Government
- Non-government
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Healthcare Include:
Global Surgical Mask Market – Global surgical mask market by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and MEA).
Global Chloroquine Market – Global chloroquine market by application (malaria, rheumatoid arthritis, and others) and geography (North America, Europe, and Asia and ROW).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
