The global demand for Household COVID-19 Testing Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Household COVID-19 Testing is a novel testing solution introduced which involves using a test kit delivered to our homes for sample collection and the diagnosis carried out at the laboratories using the sample received. This involves a virtual diagnostic process where the patient is self-quarantined, cared for and treated at the comfort of his home. This method can promote social distancing, the best way to avoid the spread of this virus and improve the efficiency of the health care sector by freeing hospitals and medics and enable its service for high-risk patients. The key factors to be considered for efficient testing is to provide virtual support to the patients, help them conduct their nasal swab test correctly and conduct self-quarantine for a period of 48-72 hours until the results are out. The main principles to be followed here are maintain people’s privacy, offer support to the needy, provide constant support throughout the process for increased efficiency. This kit is still not regulated by the FDA.
The market for rapid household COVID-19 testing kits is expected to grow at a faster rate due to its severe impact on the global population. The market will see a boom especially in largely populated geographical areas, areas where health care facilities are not in abundance to meet the demands, remote areas and among the educated community who can better understand the system. The fact that home collection kits will reduce infection risks and ease the isolation process, faster and cheaper the demand for testing kits will increase at an alarming rate. The challenging factors affecting the market of household testing kits are their lack of accuracy, costs involved in validation and quality control of these kits.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of household COVID-19 testing.
The entire household COVID-19 testing market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
This section covers regional segmentation which accentuates on current and future demand for household COVID-19 testing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Household COVID-19 Testing Market By Revenue (USD MN)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the household COVID-19 testing market include Scanwell Health, BioMedomics Inc., Everlywell, Carbon Health, Others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.