USA leads the Americas COVID-19 Testing Market during the forecast period 2023 to 2033 | FMI Analyst

Americas COVID-19 Testing Market valuation is at US$ 5.1 Billion in 2022 and likely to be valued at US$ 9.8 Billion by 2033. The sales of America’s COVID-19 testing are growing at a CAGR of 6.7% during the forecast period.

The expanding number of COVID-19-infected individuals, treatment procedures, and R&D activities are driving up demand for COVID-19 testing in the United States. Furthermore, rising demand for sampling kits, health concerns, and the detection of COVID-19 symptoms such as cough, mild-fever cold, and body ache drive the adoption of COVID-19 testing in the United States throughout the projected period.

The increasing availability of Nasopharyngeal swab samples among patients is expected to fuel market expansion. Furthermore, the ease of access to COVID-19 self-testing kits at home is increasing the growth of online purchase on e-commerce platforms.

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Healthcare manufacturers are developing innovative diagnostic kits to control the infection of COVID-19. On the other hand, rising complications in the COVID-19 testing equipment slow down the market growth. In addition, launching vaccine doses by medical institutes also restrains the market share.

Scope of Online Sales Channel in the Market?

In the last few years, the adoption of online sales channels among the end-users is increasing the market expansion. As a result, based on the distribution channel, the online sales channel leads the global market by securing a higher CAGR during the forecast period.

The online sales channel provides certain discounts, coupons, and product offers that will likely attract consumers’ attention and increase market opportunities during the forecast period. In addition, the high acceptance and convenience of end-users primarily increase the adoption of online sales channels due to home delivery and reduced costs.

Top Countries Performance in the Americas COVID-19 Testing Market

The U.S. market secures a CAGR of 6.5% with a valuation of 3.5 Bn during the forecast period. Technological advancement, innovative products, and license agreements are driving the U.S. Americas COVID-19 testing market size. As a result, the prominent players are making strategies and implementing plans that are driving market expansion.

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On the other hand, the U.K. is smoothly capturing a CAGR of 5.8% during the forecast period. Government regulations, high technology, new policies, and essential players are expanding the U.K. Americas COVID-19 testing market opportunities.

In addition, the growing healthcare sector, laboratories, and clinics are uplifting market growth. As a result, the U.S. is estimated to hold a valuation of US$ 412.4 Bn during the forecast period.

Key Takeaways:

• The Americas COVID-19 Testing marketis expected to have a valuation of US$ 9.8 Bn by 2033.
• With a CAGR of 6.7%, the global market is increasing during the forecast period.
• The market in the United States is anticipated to grow at a CAGR of 6.5% through 2033.
• With a CAGR of 5.8%, the UK market significantly uplifts during the forecast period.
• The China market is expected to grow at a CAGR of 6.2% over the forecast period.

Who is Winning?

The market is consolidated by the number of present players globally during the forecast period. The players are innovating and launching new testing equipment to detect COVID-19 infection. These players are capturing end-users attention by providing advanced testing equipment.

The prominent vendors are growing the market by adopting several marketing tactics such as mergers, acquisitions, partnerships, collaborations, and agreements.

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Some of the Leading Companies Operating in the Market are:

• Sky Medical Supplies & Equipment LLC.
• Sugentech, Inc.
• Novacyt Group
• Aurora Instruments Ltd.
• PRIMA Lab SA
• SD Biosensor, INC.
• Gold Standard Diagnostics
• Eurofins Technologies
• Biomerieux SA
• Danaher

Recent Developments in the Americas COVID-19 Testing Market:

• In Dec 2021, Trusted Laboratory DIPM announced that the FDA approved COVID-19 emergency RT-PCR test that would detect omicron variants.
• In Oct 2021, PerkinElmer Inc announced the authorization of Respiratory SARS-CoV-2 RT-PCR issued by the U.S. FDA.

Americas COVID-19 Testing Market by Category

By Test Type:

• SARS-CoV2 IgM/IgG Antibody Rapid Test Kits
• SARS-CoV-2 Antigen Rapid Test Kits
• Multiplex Real-time RT-PCR Assay Kits

By Sample Type:

• Blood
• Nasopharyngeal Swabs

By Distribution Channel:

• Hospital Pharmacies
• Diagnostic Laboratories
• Retail Pharmacies
• Drug Store
• Online Sales Channel

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