Testing Kits Market for CoronaVirus in Europe by Geography and End-user — Forecast and Analysis 2020–2024

The coronavirus test kits market size in Europe will post a decremental growth of USD (139.05) million during 2020–2024; however, the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by geography (Germany, Italy, the UK, France, and the Rest of Europe) and end-user (government and non-government). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including 3D Biomedicine Science and Technology Co. Ltd., Abbott Laboratories, BGI Genomics Co. Ltd., bioMérieux SA, Co-Diagnostics Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Guangzhou Wondfo Biotech Co. Ltd., QIAGEN NV, and Thermo Fisher Scientific Inc.

Vendors offering coronavirus testing kits require support from governments and other regulatory bodies to enter markets in European countries and expand their product portfolio. Therefore, support in the form of funding from favorable government and regulatory bodies is going to provide an immense business boost to vendors in the coronavirus test kits market in Europe. For instance, in March 2020, the UK government announced an aid package worth USD 60 million aid to fight the new coronavirus, including funding for a rapid diagnostic test and assisting health system preparation in vulnerable countries. Therefore, increasing government funding factors will support the demand for coronavirus testing kits in Europe during the forecast period.

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• Healthcare organizations, such as the WHO and ECDC, and governments across the globe have created guidelines and protocols to control the occurrence of such outbreaks effectively.
• The demand for advanced coronavirus diagnostic products for new laboratories or the need to upgrade the existing capabilities has increased.
• In March 2019, WHO launched the Global Influenza Strategy for 2019–2030 that provides a holistic surveillance framework to prevent and control influenza through tailored national programs in member countries.
• The rising focus on the prevention of widespread coronavirus pandemic outbreak has led to advances in innovative diagnostic products for coronavirus globally, including Europe
• The test kits market for coronavirus in Europe is expected to have significant growth during the forecast period.