Report Overview

Global rapid antibody test kit for COVID-19 market has gained momentum in recent years, and is estimated to have reached USD 1.64 billion in 2020, and is expected to touch USD 1.72 billion by 2026. On 30 January 2020,

Global Rapid Antibody Tests Market overview Market size- Industry Trends & Forecast Report 2021

Global rapid antibody test kit for COVID-19 market has gained momentum in recent years, and is estimated to have reached USD 1.64 billion in 2020, and is expected to touch USD 1.72 billion by 2026. On 30 January 2020, the World Health Organization (WHO) declared the COVID-19 (SARS-CoV-2) outbreak as a Public Health Emergency of International Concern (PHEIC) and shortly thereafter called for research on point of care diagnostics for use at the community level. In response to the growing COVID-19 pandemic and shortages of laboratory-based molecular testing capacity and reagents, multiple diagnostic test manufacturers have developed and begun selling rapid and easy-to-use devices to facilitate testing outside of laboratory settings.

Source: BlueWeave Consulting

Global Rapid Antibody Test Kit for COVID-19 Market Overview:

These simple test kits are based either on detection of proteins from the COVID-19 virus in respiratory samples (e.g. sputum, throat swab) or detection, in blood or serum, of human antibodies generated in response to infection. The Rapid Test Kits approved by the US Food and Drug Administration are not meant for early diagnosis, but only to be used for surveillance and monitoring trends. The EU Medicine Agency’s guidelines, on par with the US Centers for Disease Control and Prevention (CDC), require that tests be 80% accurate on average. The major cause of the increasing patient rate is the high transmission rate among the population across the globe.

 Global Rapid Antibody Test Kit for COVID-19 market overview Market Forecast and Trends

Growth Drivers  

Increases cases of corona infected patients

The confirmed cases of corona infected patients are rising rapidly across the globe. More cases of Coronavirus disease are being expected across many regions of the world. Though, constant efforts at the individual, national, and international levels are being made to fight back against this pandemic. thus, the growth in the number of patients leads to high demand for rapid antigen test kits in the market. Rapid Diagnostic Tests (RDTs) are small, simple to use, stand-alone tests. They can be used by minimally trained staff, round the clock, and on single samples at the point of treatment, thus benefitting the whole market.

 Rising Government Initiatives

The augmented factors for the growth of the rapid antibody test kit market include great government support. As the governments of different regions across the globe are trying their best to provide the facilities for fast detection of the infection. This would be helping in the prevention of the diseases from spreading. Hence, more and more rapid test kits are required in the market. Additionally, government initiatives of spreading awareness among the people, funding programs, and others have influenced the healthcare industry.

Restraints

Presence of Counterfeit kits coupled with the inefficient kit in the market

The European Centre for Disease Prevention and Control (1 April 2020) reports several COVID-19 RDT devices with fraudulent documentation, incomplete technical files, and unsubstantiated claims, with some of them sold as alleged self-tests. Many COVID-19 rapid antibody diagnostic test kits are either inaccurate or fake and have not been approved By US FDA, EU, or Japanese Regulatory Bodies. As to regulation, "self-testing" is a more stringent regulated category of IVDs compared to the regular "for professional use". It is to be expected that in poorly regulated countries such practices will be more frequent. All these fraudulent activities coupled with the counterfeit kit in the market hampering the growth of Rapid Antibody Test kits for Covid -19 by stringent regulation and more policy reforms by government authorities in upcoming years.

 Recent Development

• Studies indicate that most patients produce an antibody response only after symptom onset during the second week. This means that COVID-19 infection diagnosis based on antibody response will often only be possible in the recovery phase when many of the opportunities for therapeutic intervention or disease transmission disruption have already passed. Antibody detection studies targeting COVID-19 can also cross-react with other pathogens, including other human coronaviruses, and result in false positives. Finally, whether RDTs detecting antibodies could predict whether an individual was resistant to COVID-19 virus reinfection, was examined.

• Blood samples were obtained from COVID-19 patients from various hospitals and from Chinese CDC laboratories to test the detection sensitivity and specificity of the combined antibody test COVID-19 IgG-IgM. At each site, the experiments were carried out separately. A total of 525 cases were tested: 397 (positive) clinically confirmed (including the PCR test) patients infected with SARS-CoV-2 and 128 patients who were not infected with SARS-CoV-2 (128 negatives). 

Global Rapid Antibody Test Kit for COVID-19 market overview Market: By Antibody Type

Based on antibody type, the global rapid antibody test kits for Covid-19 are segmented into IgG and IgM. Amidst the segmentation, IgM is projected to dominate the global market with high potential. immunoglobulins are the key detection molecules in the immune system. The (IgM) antibody also known as the natural antibody is depicted as the µ heavy chain which is the largest chain. It is also generated as a B cell membrane-bound monomer and a secreted pentamer. Also, IgM is the first immunoglobulin that is developed during human fetal development. IgM is also the first antibody that responds during infection.

Global Rapid Antibody Test Kit for COVID-19 market overview Market: By End-user

Based on end-user segmentation the global Rapid Antibody Test kits for Covid-19 fragmented into hospitals, Covid-19 Centers, and Clinical Laboratories. Covid-19 centers contribute with a market share of 53% in the global market in 2020. Followed by Covid-19 centers and clinical laboratories, the hospitals segment projected to gain maximum revenue due to the massive demand for COVID-19 Testing Kit in hospitals. The expected market size of the hospital segment in 2026 is USD 0.29 Billion at a CAGR of 1.02% during the forecast period of 2020-2026. As hospitals provide extra care for the patients and with quarantine facility available in hospitals is the main reason for the segment growth. 

Global Rapid Antibody Test Kit for COVID-19 market: Regional Insights

North America is estimated to have held the largest share in the rapid antibody test kit for the COVID-19 market, in terms of revenue, in 2020. The increasing number of patients leads to the high demand for the rapid antibody test in countries like the U.S. and Canada. The Europe region is expected to generate high revenue in the global COVID-19 Kit market during the forecast period due to the occurrence of growing cases. As leading health companies are working together to develop COVID-19 kit, with an increase in the number of infected patients. The COVID-19 testing kits have become necessary now, hence the demand will lead to the high growth opportunity for many of the rapid test kits.

Competitive landscape

Key players for a rapid antibody test kit for the COVID-19 market include- Biomaxima SA, Zhhuhai Livzon Diagnostics Inc, Guangzhou Wondfo Biotech Co Ltd, RavBiotech Inc, Biolidics Limited, BioMedomics ltd, SD Biosensors Inc, SD biosensors, Cllex Inc, CTK biotech Inc, Sugentec Inc, Vayzyme Biotech Co Ltd, Liming Bio-products Co. Ltd, and others. The market is witnessing major competition amongst companies. Business players compete based on the given product quality used for the manufacture of a rapid antibody test kit for COVID-19.

Scope of the Report

By Antibody Type

• IgM

• IgG

By End users

• Hospitals

• COVID 19 Centers

• Clinical laboratories

By Region:

• Asia Pacific

• North America

• Europe

• Middle East & Africa

• Latin America