As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The Asia Pacific COVID-19 diagnostics industry is anticipated to rise significantly in the forecast period owing to a dramatic increase in the COVID-19 cases in China and India, with China being the epicentre of the pandemic. The rising attempts by the governments of these nations towards expanding their research and development capabilities are expected to further propel the market growth in the forecast period.
On the basis of sample type, the nasopharyngeal swab segment is anticipated to account for a significant share in the Asia Pacific COVID-19 diagnostics industry. This can be attributed to a substantially higher SARS-CoV-2 susceptibility and detection rate via nasopharyngeal swabs as compared to other swab types. A significant revenue is anticipated to be generated from this segment, which is expected to aid the growth of the overall market.
The increasing collaboration between government organisations and key market players to innovate new products that can give faster and improved results can prove to be a major factor contributing to the market growth. The support from the government will also catalyse the process of designing better and more sophisticated COVD-19 test kits. At a global level, leading global life sciences companies, such as LabCorp (NYSE: LH) have been looking for the U.S FDA approval for their at-home test kits. The testing method developed by LabCorp not only focusses on COVID-19 but can also detect multiple types of infections like flu and RSV. Such developments are expected to contribute to the growth of the COVID-19 diagnostics industry in the Asia Pacific.
Market Breakup by Test Type, Product, Sample Type, Business Mode, End Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the Asia Pacific COVID-19 diagnostics market are Guangzhou Wondfo Biotech Co., Ltd., SolGent Co., Ltd., Biolidics Limited, PT Bio Farma (Persero), Beijing Jinwofu Bioengineering Technology Co.,Ltd., Mylab Discovery Solutions Pvt. Ltd., and Ellume Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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