IgM IgG Rapid Test Kits Market is segmented Product Outlook (Revenue, USD Million, 2020 - 2027), Rapid Diagnostic Test (RDT),Enzyme Linked Immunosorbent Assay (ELISA),
Neutralization Assay and Application Outlook (Revenue, USD Million, 2020 - 2027),Hospitals and Scientific Research.
Recent market studies show that IgM IgG rapid test kits market will witness substantial growth over the next few years owing to the fast-spreading COVID-19 pandemic. Also, the growing demand for point-of-care testing for COVID-19 pandemic has contributed to the growth of the IgM IgG rapid test kits market. The IgM IgG rapid test kits can help healthcare professionals to detect COVID-19 pandemic at early stages and prevent community spread. These are also proven as a major trust for coronavirus treatment facilities. However, the sudden spike in demand for IgM IgG rapid test kits have made it difficult for organizations operating in the IgM IgG rapid test kits market to streamline the supply and demand requirements. As such, IgM IgG rapid test kits market size is projected to maintain the average growth rate through 2025.
IgM IgG Rapid Test Kits Market size shall reach a value of $10,642.5 Million in 2031, growing with a CAGR of 10.16% during the forecast period of 2022 to 2031.
Growth and Trends
Immmunogloblin G found in the blood and lymph fluid, being the first and most abundant antibody to be made by the body for fighting new bacterial or viral infection, needs to be tested for its quantity, for which the IgG antibody rapid test kits market is already experiencing steady growth, owing to increasing incidence of chronic illnesses such as cancer, diabetes, infectious diseases. The most significant factor currently influencing the growth in demand in IgG/IgM rapid test is the prevalence of the coronavirus across the globe, rapidly fuelling the market growth at exponential levels. Demand for serology testing for Covid-19 in order to better quantify the number of active, asymptomatic, or recovery cases has been booming. These blood-based tests are effective in identifying whether people have been exposed to a particular pathogen, by looking at their immune response. Since the virus outbreak, the disease has spread to more than 100 countries around the globe, which directly impacts the demand for the COVID-19 IgM/IgG rapid test kits market at an increasing rate, thus expanding the market at high levels of progression globally. The pandemic situation can affect the global economy on a sustained basis primarily in three ways: by directly impacting production and demand, by creating a supply chain and market disruption, and by a hard-hitting financial impact on firms and financial markets. However, these rapid testing kits currently have high competitive advantage as a result of their high efficiency and consequent utility in the healthcare sector which is growing rapidly as well.
This viral outbreak has brought about effects on several aspects, of which tremendous slowdown of the supply chain which results in slow distribution of the rapid testing kits. However, with the launch of the expected vaccine to treat this virus, all short-term connected hindrances will take a backseat.
IgM IgG Rapid Test Kits Market Competition
Key companies operating in this industry are Cellex, Abbott, Roche, BioMedomics, BD, Henry Schein, Safecare Bio-Tech, Mayo Clinic Laboratories, Chembio Diagnostics, Mount Sinai Laboratory, Ortho Clinical Diagnostics, Zhejiang Orient Gene Biotech, Innovita Biological Technology, Guangzhou Wondfo Biotech, Guangdong Hecin-Scientific, Dynamiker Biotechnology (Tianjin) and ADVAITE.
IgG Rapid Test Kits Market Revenue Estimation and Forecast (2022 – 2031)
Production Estimation and Forecast (2022 – 2031)
Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
Breakdown of Revenue by Segments (2022 – 2031)
Breakdown of Production by Segments (2022 – 2031)
Breakdown of Sales Volume by Segments (2022 – 2031)
Gross Margin and Profitability Analysis of Companies
Business Trend and Expansion Analysis
Import and Export Analysis
IgM IgG Rapid Test Kits Market Segmentation
Product Outlook (Revenue, USD Million, 2022 - 2031)
Application Outlook (Revenue, USD Million, 2022 - 2031)
Country (Revenue, USD Million, 2022 - 2031)
IgM IgG Rapid Test Kits Market Companies
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