Latest News- Coronavirus Test Kits Market in Europe: Government is expected to lead the End-user segment during 2024-2028

The Coronavirus Test Kits Market in Europe is being driven by Rising adoption of rapid coronavirus test kits

The Coronavirus Test Kits Market in Europe is expected to grow at a CAGR of -72.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD -1893.1 million. The emergence of various SARS-CoV-2 virus lineages, including the exceedingly contagious BA.2 subvariant, also known as stealth omicron, has raised concerns due to their potential impact on virus transmissibility and symptom severity. The World Health Organization (WHO) has categorized these variants as a variation of concern. As COVID-19 outbreaks continue to occur, particularly in areas where safety precautions have been relaxed, the demand for coronavirus test kits is expected to increase. However, the ongoing vaccination campaigns with booster doses may slow down the growth of the coronavirus test kits market in Europe during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Government
  • Non government
• Type
  • Rapid test kit
  • RT-PCR
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising adoption of rapid coronavirus test kits
• Rising focus on preventing the spread of coronavirus
• Increasing government funding

However, the market also witnesses some limitations, which are as follows:

• Inaccuracy of diagnostic tests
• Availability of counterfeit testing kits
• Inadequate testing facilities

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Market Scope in Coronavirus Test Kits Market in Europe Research Report

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Research Analysis Overview

The European Coronavirus Test Kits market encompasses diagnostic solutions for Covid-19, including nasopharyngeal swabs, saliva samples, and blood samples. Key performance indicators include limit of detection, time to result, and diagnostic accuracy. Home and professional testing, mass testing programs, disease surveillance, and outbreak response are primary applications. Usability, storage conditions, transportation protocols, data management, and test kit lifecycle are essential considerations. Quality assurance involves calibration procedures, standard operating procedures, equipment maintenance, personnel training, and assay reproducibility. Infection control, specimen handling, and predictive value are also crucial factors. Sensitivity and specificity analyses ensure diagnostic accuracy, while diagnostic tests undergo sensitivity and specificity analysis.

Market Research Overview

The European Coronavirus Test Kits market is a significant segment of the larger global healthcare supplies industry. This market encompasses the production and distribution of RT-PCR testing kits, antigen detection kits, molecular diagnostics, rapid diagnostic tests, and antibody testing solutions. The parent healthcare supplies market, which includes manufacturers of medical consumables for disease diagnosis and treatment, is experiencing growth due to several factors. One key driver is the increasing aging population in Europe and the US, with nearly one-quarter of each projected to be over 60 years old by 2030 and 2050, respectively. This demographic shift will necessitate increased demand for diagnostic testing solutions, including coronavirus test kits. Technavio, a leading market research firm, calculates the healthcare supplies market size based on the combined revenue generated by manufacturers of various medical supplies, such as syringes, drapes, gloves, and gowns. The European Coronavirus Test Kits market is expected to grow substantially in response to this trend, as well as ongoing research and development efforts in the field of diagnostic technologies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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