Asia Pacific COVID-19 Diagnostics Market Report and Forecast 2024-2032

Asia Pacific COVID-19 Diagnostics Market Outlook

The Asia Pacific COVID-19 diagnostics market is being aided by the growing cases of COVID-19 infections in India and China, which have performed around 234 million and 160 million tests, respectively, for COVID-19 as of March 2021.

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Increasing Number of COVID-19 Cases is Driving the COVID-19 Diagnostics Industry Growth

The demand for COVID-19 diagnostics is growing due to a rise in the number of COVID positive cases, with China being initially the hardest affected country due to the country’s relatively higher population density. India emerged as the most adversely impacted country in the Asia Pacific owing to rapid cases of coronavirus in the country. Many Asia Pacific countries are scrambling to expand their scanning and research capabilities. Many large biotech and pharmaceutical firms have developed their own COVID-19 diagnostics, and many more are now saving, studying, and designing better and more sophisticated COVID-19 diagnostics. This, in particular, is supposed to generate attractive business growth prospects in the coming years. Government policies that benefit detection kit producers are enabling them to expand production volume, which is expected to boost the demand outlook.
 

COVID-19 Diagnostics: Market Segmentation

COVID-19 diagnostics are standardized equipment used for the detection and diagnosis of Covid-19. These are manufactured by approved pharmaceutical manufacturers under strict government procedures.

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By test type, the market is divided into:

• PCR Test
• Antigen Test
• Antibody Test
• Others

The market is categorised in terms of product into:

• RT-PCR Assay Kits
• Immunoassay Test Strips
• Others

The market is divided on the basis of sample type into:

• Nasopharyngeal Swab
• Oropharyngeal (OP) Swab
• Nasal Swab
• Blood Test
• Others

On the basis of business model, the industry is bifurcated into:

• Point-of-Care (PoC) Testing 
• Non-Point-of-Care (PoC) Testing

In terms of end use, the market is segmented into:

• Hospitals
• Diagnostic Centres and Clinics
• Laboratories
• Others

The EMR report looks into the regional markets of the product like China, India, Japan, ASEAN, Australia, among others. 

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Increasing Demand for Nasopharyngeal Swabs Aiding the Growth of COVID-19 Diagnostics Market

The most revenue is expected to come from the nasopharyngeal swabs market. SARS-CoV-2 susceptibility, detection rate, and viral load have all been shown to be substantially higher in nasopharyngeal swabs than in other swab types. As a result, this swab type is most often used when checking for COVID-19 and determining SARS-CoV-2 load, resulting in the segment's highest revenue share. This segment is expected to rise at a lucrative pace during the forecast period, owing to increased demand and availability of nasopharyngeal swabs. Furthermore, nasopharyngeal swabs are used in the bulk of molecular diagnostic tests for infection diagnosis.
 

Key Industry Players in the Asia Pacific COVID-19 Diagnostics Market

The report gives a detailed analysis of the following key players in the Asia Pacific COVID-19 diagnostics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• 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.
• Ellume Limited
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report