Summary
COVID-19 Testing Market Research Report by Kit Type (Rapid Test Kit and Real-Time Reverse Transcription Polymerase Chain Reaction (RT-PCR)), Test Type, Specimen Type, Application, Country - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - North America Forecast 2023-2030
The North America COVID-19 Testing Market size was estimated at USD 7,393.48 million in 2022 and expected to reach USD 8,009.10 million in 2023, projecting growth at a CAGR of 9.79% to reach USD 15,617.59 million by 2030.
Cumulative Impact of COVID-19:
COVID-19 is an unprecedented global public health emergency that affected almost every industry, and the long-term impacts are projected to reflect on the growth of various end-use industries during the forecast period. This ongoing research amplifies the research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. The report delivers insights on COVID-19, considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The dedicated section in the report uncovers a detailed analysis of the impact of COVID-19 and its subsequent variant outbreaks on demand, supply, price, and vendor uptake and provides recommendations for sustainable outcomes. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the North America COVID-19 Testing Market.
Cumulative Impact of Russia-Ukraine Conflict:
We continuously monitor and update reports considering unceasing political and economic uncertainty due to the Russia-Ukraine Conflict. Negative impacts are globally foreseen, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States. This contention has severely affected people’s lives and livelihoods and represents far-reaching disruptions in trade dynamics. The potential effects of ongoing war and uncertainty in Eastern Europe are expected to have an adverse impact on Ukraine and reverberate harsh long-term effects on Russia. The report uncovers the implications for demand-supply balances, pressure on pricing variants, impact on import/export and trading, and short-term recommendations to the North America COVID-19 Testing Market considering the current update on the conflict and its global responses.
Cumulative Impact of High Inflation:
The high inflation in developed economies globally has resulted in an overall price surge over the past two years. The cumulatively eroding overall purchasing power is expected to impact developing economies significantly and is considered helpful in numerous ways. The report uncovers the effect of high inflation on the long-term performance of the global economy and provides details on fiscal policies measuring and reducing its short-term impacts on demand/supply, cash flow, and currency exchange. The North America COVID-19 Testing Market report delivers the high inflation expectation considering the related impact from cost-push and demand-pull inflation.
Market Statistics:
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 and 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Market Segmentation & Coverage:
The report on the North America COVID-19 Testing Market identifies key attributes about the customer to define the potential market and identify different needs across the industry. Understanding the potential customer group’s economies and geographies can help gain business acumen for better strategic decision-making. Our market coverage across different industry verticals reveals the hidden truth about the players’ strategies in different verticals and helps the organization decide target audience. This report gives you the composite view of sub-markets coupled with comprehensive industry coverage and provides you with the right way of accounting factors such as norms & regulations, culture, to make right coverage strategy for your market plan. This research report categorizes the North America COVID-19 Testing Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Kit Type, the market is studied across Rapid Test Kit and Real-Time Reverse Transcription Polymerase Chain Reaction (RT-PCR).
Based on Test Type, the market is studied across Multiplex NAATs, NAAT Point of Care, and Singleplex Nucleic Acid Amplification Tests.
Based on Specimen Type, the market is studied across Blood, Nasal Swab, Nasopharyngeal Swab, Oropharyngeal Swab, and Urine.
Based on Application, the market is studied across Clinics, Diagnostic Centers, and Hospitals.
Based on Country, the market is studied across Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes vendors in the North America COVID-19 Testing Market. based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) and placed into four quadrants (F: Forefront, P: Pathfinder, N: Niche, and V: Vital). The North America COVID-19 Testing Market FPNV Positioning Matrix representation/visualization further aids businesses in better decision-making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market, providing the idea of revenue generation into the overall market compared to other vendors in the space. This provides insights on vendors performance in terms of revenue generation and customer base compared to others. The North America COVID-19 Testing Market Share Analysis offers an idea of the size and competitiveness of the vendors for the base year. The outcome reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Scenario:
The Competitive Scenario provides an outlook analysis of the various strategies for business growth adopted by the vendors. The news in this section covers valuable insights at various stages while keeping up with the business and engaging stakeholders in the economic debate. The North America COVID-19 Testing Market Competitive Scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected helps vendors understand the gaps in the marketplace and competitor’s strengths and weaknesses, providing insights to enhance products and services.
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the North America COVID-19 Testing Market, including Abbott Laboratories, AccuBioTech Co. Ltd., ADT Biotech, AIVD Biotech Inc., Altona Diagnostics GmbH, AMEDA Labordiagnostik GmbH, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., bioMérieux SA, Cepheid Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Hologic Inc., Laboratory Corporation of America Holdings, Luminex Corporation, PerkinElmer Inc., Quest Diagnostics Inc., Quidel Corporation, Siemens Healthineers AG, and Thermo Fisher Scientific Inc..
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the North America COVID-19 Testing Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the North America COVID-19 Testing Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the North America COVID-19 Testing Market?
4. What is the competitive strategic window for opportunities in the North America COVID-19 Testing Market?
5. What are the technology trends and regulatory frameworks in the North America COVID-19 Testing Market?
6. What is the market share of the leading vendors in the North America COVID-19 Testing Market?
7. What modes and strategic moves are considered suitable for entering the North America COVID-19 Testing Market?
