US market value for COVID-19 tests to exceed $31B this year

Currently, testing centers in the US have become overburdened by the surge in COVID-19 cases

US COVID-19 tests

US market value for COVID-19 tests to exceed $31B this year. Source: pixabay.com

According to GlobalData, the US market value for COVID-19 tests is expected to grow to $31.2 billion in 2021, due to surging global case numbers and an expected lack of vaccine supply.

The recent FDA Emergency Use Authorization and approval for two at-home COVID-19 test kits – Ellume COVID-19 Home Test and the Lucira COVID-19 All-In-One Test Kit – may accelerate growth into 2021. That’s due to the fact it allows suspected cases to be more easily and safely tested while reducing the burden on testing centers and labs.

Both test kits use the patient’s self-collected nasal swab and a testing device to return results on COVID-19 infection within 30 minutes.

At-home testing is an attractive alternative for public health officials as it will alleviate testing caseload, and people with suspected COVID-19 contact or symptoms can be easily and safely tested at home without fear of infection from a contact at the testing center.

Even with vaccines approved, public health officials need to stress the importance of mass testing and contact tracing, especially as COVID-19 cases continue to rise at an alarming rate. These at-home tests should help support these efforts, allowing policymakers to redeploy healthcare resources to where they are most needed
Dominic Tong, Medical Devices Analyst at GlobalData

We’ve reported that 70% of British small business owners feel more confident about 2021 now that the vaccine has been rolled out.

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