Covid 19 Nucleic Acid Testing Kits Market – By Product Type (Fluorescent Pcr and Thermostatic Amplification Chip), By Application (Hospitals, Scientific Research, Diagnostic Centres, and Others), and By Region – Global Industry Analysis and Forecast (2020-2030)

Covid-19 Nucleic Acid Testing Kits Market size is estimated to reach XXX USD by 2030 at a CAGR of XXX during the forecast period. Nucleic acid testing is generally used in the treatment of infectious diseases caused by bacteria and viruses, cancerous diseases, as well as genetically related diseases. It provides an extra layer of blood screening and overcomes incorrect reactive definitions, and also aids in detecting the issue without any prior signs. Nuclear acid testing is also an early detection technique which is proven to provide reliable diagnosis, quicker than any other available method, which helps to narrow down infectious times, i.e. the window duration between the time of viral transmission and the time of serological detection of a virus. Due to this, it is regarded as one of the most desired research procedures of the healthcare industry.

Market Dynamics and Factors:

The major factors driving the covid-19 nucleic acid testing kits market across the globe are the technological advancements in the overall healthcare industry, increasing R&D in the field of pharmaceuticals and healthcare. The requirement for highly equipped kits in several diagnostic areas such as cancer, infectious diseases, paternity testing and forensic testing are majorly attributing to the growth of the covid-19 nucleic acid testing kits market. Growing demand for technologically advanced sample processing, extraction, amplification and testing methods for nucleic acids such as DNA and RNA, and  strategic agreements of manufacturers’ with leading research institutes are expected to boost research activities in the area of molecular biology. There is also an increased scope of the global application of nucleic acid testing, as manufacturers of molecular diagnostic instruments and kits have produced many products with the potential to be used in research as well as clinical diagnostics. However, certain factors like adverse events and false operational functionality associated with the reagents are hampering the covid-19 nucleic acid testing kits market growth during the forecast period. Lockdown in several countries as well as pause in business operations due to COVID 19 is also a major factor hampering the market.

Market Segmentation:

Based on product type, the covid-19 nucleic acid testing kits market is bifurcated into fluorescent PCR and thermostatic amplification chip. On the basis of application, the global COVID 19 nucleic acid testing kits is segmented into hospitals, scientific research and diagnostic centers. Geographically, the covid-19 nucleic acid testing kits market is broadly divided into five regions mainly North America, Europe, Asia Pacific, and RoW.

Geographical Analysis

North America is expected to dominate the global covid-19 nucleic acid testing kits market in terms of market share during the forecast period followed by Europe. This is because of the well-established healthcare system and several established pharmaceutical companies in the region.Latin America and Middle East & Africa are expected to witness sluggish growth during the forecast period. The improper development and implementation of clinical practice guidelines and dearth of skilled professionals in most of the countries in the region will possibly continue to hinder the growth of the covid-19 nucleic acid testing kits market.

Competitive Scenario:

The key players operating in the global covid-19 nucleic acid testing kits industry include Shanghai Geneodx Biotech, Shanghai ZJ Bio-Tech, Zhongshan Daan Gene, Genomics Biotech (Wuhan), Shanghai Bio-Germ, Sanaure, Beijing XABT, Chengdu Boaojing Bio-Tech, Wuhan Easydiagnosis Biomedicine and Maccura Bio-Tech.

Covid 19 Nucleic Acid Testing Kits Market Report Scope