Lab Confirmation Testing Kit Market

Lab Confirmation Testing Kit Market Overview

This Lab Confirmation Testing Kit market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study.

This study is one of the most comprehensive documentation that captures all the facets of the evolving Lab Confirmation Testing Kit market.

COVID-19, also known as coronavirus disease, is continuing to spread globally with confirmed cases now surpassing 9,60,000 cases. With skyrocketing confirmed incidences of COVID-19, pharma, healthcare workers, universities as well as institutes are working tirelessly day and night to discover or develop cure for the life-threatening virus.

A point of contention at this critical hour is testing rates. It is only through widespread testing that the spread of this lethal virus and other metrics such as infectiousness and mortality rates, can be effectively recorded. Thus, readily available test kits are an indispensable way of effectively fighting and curbing the pandemic.

WHO’s Initiative in Controlling the Situation

Aiming to identify research gaps and priorities for COVID-19, collaborating with GloPID-R, WHO has organized a Forum on 11-12 February, 2020. The Forum has recognized urgent need for access to accurate and standardized diagnostics for SARS-CoV-2 (the causative agent of COVID-19), deployable in decentralized settings, has been recognized as one of the eight immediate research needs.

The Centers for Disease Control and Prevention (CDC), the US agency charged with tracking and investigating public health trends, is working in close co-operation with private labs to make more tests available. According to health experts, such an initiative would help capacitate to complete about 100 tests per day, which isn’t proportionate to the spread of this virus.

The Urgent Need for Diagnostic Kits

At this point of time, an effective and efficient diagnosis of this alarmingly spreading virus would immensely help in curbing its spread all around the world.

Developing a widely accessible, inexpensive point-of-care diagnostic kit requires an accountable leadership, decisive science-based governance, significant financing, and the application of reliable principle-based scientific protocols to determine whom to test, how to interpret results, and how best to treat and quarantine those infected.

Such measures would not only help contain the current COVD-19 epidemic; it can also create a system for developing similar tools to stop future pandemics. Thus, by taking the lead in creating such an infrastructure, the US can help itself and the rest of the world as well. According to Mediheroes, made-in-Korea diagnostic kits that have not won FDA’s emergency use authorization are likely to be used in USA.

Lab Confirmation Kits Being Developed by Various Companies

Numerous companies are racing to develop diagnostic kits – a new diagnostic tools identified by the Foundation for Innovative Diagnostics, a fifteen-minute test being developed by Chinese laboratories, a Duke University test being deployed in Singapore and diagnostic tests by CRISPR technology are a few noteworthy mentions.

The US Food and Drug Administration (FDA) has an accelerated pathway for “emergently needed” diagnostic tools, but relies on developers need to conduct or sponsor themselves.

While in majority cases, patients experience minor symptoms, the disease can cause death under severe cases. Thus, medical companies worldwide are leaving no stones unturned to manufacture diagnostic kits for the alarmingly spreading coronavirus

• BioFire Diagnostics - BioFire Respiratory Panels, also known as Film Array® Respiratory (RP & RP2) Panels, are tests that are developed to help medical clinics diagnose respiratory infections quickly. Such a development is anticipated to help treatment of the COVID-19 patients significantly.
• CephiedInc - CephiedInc has developed a test for the Coronavirus Strain (2019-nCoV) that is likely to deliver point-of-care results in just 30 minutes.
• GenMark Diagnostics, Inc - GenMark provided ePlex Research Use Only (RUO) test kits. The company thereby intends to submit an Emergency Use Authorization (EUA) to FDA (US Food and Drug Administration) for the ePlex SARS-CoV-2 test kits to conduct tests of COVID-19.
• “Master Mix”, created by Meridian Biosciences, is projected to work as the building blocks for COVID-19 and produce results in 45minutes to 1 hour. Their test kits are similar to tests done for influenza. These test kits have already been shipped from Germany to China.

Test Kits Are Being Developed in Dakar, Senegal

In partnership with the Institut Pasteur de Dakar, manufacturing of the test kits will happen at DiaTropix, a new custom-built facility for epidemics-related innovation, in Dakar, Senegal. The current, long-winding process for testing for corona infections involve a throat swab, transporting samples to laboratories with test kits and wait for upto 24hours for the results.

Mologic Developing Test Kits for COVID-19

Mologic had earlier created test kits for measles, Ebola and yellow fever. The lab confirmation test kits created by Mologic would be validated by specialists in the Liverpool School of Tropical Medicine, the Wuhan Institute of Virology, the London University, the University of Malaya, Malaysia and Fiocruz in Brazil. A successfully developed and validated, a much faster way to test and diagnose Covid-19 could prove critical at this hour of crisis.

Bosch’s Rapid COVID-19 Rest is on the Way

The brain of Bosch Healthcare Solutions subsidiary and the Northern Irish medical technology company, Randox Laboratories Ltd. is Bosch’s rapid COVID-19 test. This brand-new, fully automated test is expected to aid medical facilities - doctors, laboratories, hospitals, healthcare centers - diagnose faster.

To quote Dr. VolkmarDenner, chairman of the board of management of Robert Bosch GmbH, “We want the Bosch rapid COVID-19 test to play a part in containing the coronavirus pandemic as quickly as possible. It will speed up identification and isolation of infected patients”.

Bosch’s rapid COVID-19 test delivered result with an accuracy of over 95 percent when tested in various laboratories with SARS-CoV-2. The most unique feature of Bosch Vivalytic analyzer is that it can perform up to 10 tests in 24 hours; meaning only 100 devices can evaluate up to 1000 tests per day.

Bosch’s rapid test can detect a SARS-CoV-2 coronavirus infection in just two and a half hours (includes the time the sample is taken to the time the result arrives). The ability of the test being performed at the point of care itself is an added boon. It is in talks that these newly developed tests will be available in Germany in April, with emerging markets in Europe and elsewhere.

India’s Stand in the Test for COVID-19

Broadening the criteria for testing, India has asked every state to designate atleast one hospital for treating COVID-19 cases. Apart from the 116 government labs that were approved for testing, testing approval was granted to private labs across three states – Thryocare; Metropolis Healthcare and Suburban Diagnostics in Mumbai, Maharashtra, Unipath Specialty Laboratory Ltd. in Ahmedabad, Gujarat and NeubergAnand Reference Laboratory in Bengaluru, Karnataka. Mumbai’s Sir H. N. Reliance Foundation Hospital and Research Centre, run by MukeshAmbani, has also been granted approval for the testing.

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Key Segments of Lab Confirmation Testing Kit Market

On the basis of Modularity, Lab Confirmation Testing Kit Market is segmented into:

• Rack mount
• Portable

On the basis of end use, Lab Confirmation Testing Kit Market segmented into:

• Automotive
• Chemical
• Agriculture
• Oil and Gas
• Research and Development
• Others