The global COVID-19 saliva-based screening market was valued at over US$ 1.7 Bn in 2020, and is expected to exhibit a declining CAGR of -3% between 2022-2031.
NEW YORK, NEW YORK, UNITED STATES, May 5, 2022 /EINPresswire.com/ -- The COVID-19 Saliva-based Screening Market is all set to unleash its potential to the fullest, reaching US$ 1.7 Bn at a CAGR of -3%. The new normal constitutes video chatting with therapists. The patients are thus able to create their profile and look for the therapist (s) of their choice. Patients could, thus share the data from various apps and share it with their provider (s) for a better understanding of the personalized care needed by them. Such would be the healthcare vertical.
As per Persistence Market Research’s latest industry analysis, the global COVID-19 saliva-based screening market was valued at over US$ 1.7 Bn in 2020, and is expected to exhibit a declining CAGR of -3% over the forecast period of 2022 to 2031.
COVID-19 saliva-based screening is attaining traction in the existing situation, as it is patient-friendly, easy to use, and has a shorter test-to-result timeline. COVID-19 saliva-based screening plays a dynamic role in screening asymptomatic persons, thus sustaining market growth. This is mainly owing to numerous advantages offered by saliva-based tests, growing product approvals by FDA, and a shift toward point-of-care testing.
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With the onset of the COVID-19 pandemic, several key players have entered the screening market. Advertising and expansion strategies are also playing an important role in generating market revenue. Furthermore, manufacturers are investing extensively in research & development activities to develop novel techniques that can allow rapid testing and accurate results.
Product launches, approvals, and acquisitions & mergers are rampant in this market space:
Abbott launched ID NOW, a molecular POCT for detecting novel coronavirus (COVID-19), authorized by the U.S. FDA-issued Emergency Use Authorization (EUA). It is small, lightweight (6.6 pounds) and portable (size of a small toaster), and uses molecular technology that delivers positive results in as little as five minutes and negative results in 13 min.
In April 2021, Chembio Diagnostics, Inc. announced the launch of an FDA emergency use authorization-approved, in-licensed rapid POCT for COVID-19/Flu A&B test, for use in decentralized and traditional testing settings.
Thermo Fisher Scientific acquired Mesa Biotech, a developer of hand-held test devices for COVID-19 detection. Mesa received approximately US$ 450 Mn in cash and became eligible for an additional US$ 100 Mn based on the completion of certain pre-discussed milestones. This acquisition enabled Thermo Fisher Scientific to accelerate the availability of reliable and accurate advanced molecular diagnostics at POCT.
Thermo Fisher scientific
Takara Bio Inc
Arcis Biotechnology Limited
Lucence Health INc
Therma Bright Inc
ACON Laboratories, Inc
Norgen Biotek Corp.
Assure Tech. (Hangzhou) Co., Ltd
Beijing Hotgen Biotech Co., Ltd
Nantong Diagnos Biotechnology Co., Ltd
NeuMoDx Molecular, Inc.
KYODO INTERNATIONAL INC.
Zymo Research Corporation.
NEST Scientific USA
Miraclean Technology Co. Ltd
Mawi DNA Technologies
Cell Projects Ltd.
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Key Takeaways from Market Study
Based on product, saliva-based detection kits are leading with over 83% market share.
By technology, RT-qPCR technology holds around 49% market value share, globally, primarily due to increasing focus on rapid testing and growing research activities.
COVID-19 diagnostics is estimated to dominate the market by application. This segment accounted for approximately 63% share of the market, primarily due to rising prevalence of Covid-19 and increasing demand for COVID-19 diagnostics
Diagnostic laboratories dominate the market among the end users with a market share of 27%.
By region, Europe is set to dominate the global market with a value share of around 36%.
North America is slated to be the second-largest leading market with a value share of 34% through 2031.
“Increasing adoption of COVID-19 saliva-based screening, rising ageing population susceptible to COVID-19, and continuous guidance from governments to support the response effect of the pandemic are estimated to boost market growth over the coming years,” says an analyst of Persistence Market Research.
New product approvals, launches, collaborations, agreements, and partnerships have emerged as the main growth strategy implemented by leading players. Acquisitions allow a company to expand its product portfolio. The company that is acquired possesses well-established diagnostic products and solutions, which become a good revenue source for the acquirer. This also enables the company to enter new emerging markets as well as existing markets.
In April 2021, Vatic Health received the CE mark for a saliva antigen test as an on-the-spot test for the SARS-CoV-2 virus. The test has also completed the Medicines and Healthcare Products Regulatory Agency (MHRA) registration in the U.K.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the COVID-19 saliva-based screening market in its latest study, presenting a historical demand assessment and projections for 2020 – 2031.
The research study is based on the product (saliva collection kits, saliva nucleic acid purification kit and saliva-based detection kits), technology (direct sample to PCR, RT-qPCR and lateral flow assay), application (COVID-19 research and COVID-19 diagnostics), end user (diagnostic laboratories, hospitals & clinics, academic and research institutes, biopharma companies, long term care facilities, home care settings and others), across seven key regions of the world.
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