The global serology test market is expected to grow at a significant CAGR during the forecast period. The increase in the incidence and prevalence of severe infectious diseases is anticipated to create the scope for the growth of the serology test industry. The outbreak of the novel Coronavirus is among one of the major factors that have boosted the serology tests market across the globe. Serological tests are accomplished to diagnose any infection or virus suspected in the body. It aids in diagnosing any fungal, bacterial, and viral infection in the body. The serological tests aren’t for determining if one is infected with coronavirus or not, rather it is done to determine if you have potential immunity.
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The virus and the resulting diseases hit the world with a high force. To prevent the spread and to combat the lethal disease, there are various laboratories testing under processes, which in turn is likely to positively affect the serology test market growth. In April 2020, Celle received the US FDA Emergency Use Authorization regulatory approval for the serology tests. The test was designed in such a way that it aids in identifying specific antibodies in the blood associated with the novel COVID-19, it also can be utilized to identify previous coronavirus infections.
Further, in April 2020, the US FDA also approved the use of around 20 commercial COVID-19 diagnostic tests, panels, and assays for detecting live infections by using a separate method, known as serological testing. Becton, Dickinson and Co., Eli Lilly and Co., Thermo Fisher Scientific Inc., Abbott Laboratories, Inc., Advanced Diagnostics, Inc., Alere Inc., Beckman Coulter, Inc., Biomerica, Inc., Quest Diagnostics, and Randox Laboratories Ltd. are some of the key players operating in the global serology test market. Some of the growth strategies adopted by the players to sustain in the highly competitive market include new product launches & developments, partnerships, agreements, and acquisitions.
Current Market Trends Covered in the market report:
- Increased investments by the government along with the private organizations for the early diagnosis and treatment of various fungal, bacterial and viral infections are likely to positively affect the serology test market growth during the forecast period
- Primary serology test account for a significant share in the market
- North America contributes a significant share in the market
- Novel product launches, rapid innovations along with the geographical expansion will be the key growth strategy adopted by the key players to sustain in the market.
- The emergence of novel COVID-19 to increasingly create demand for serology test kits.
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Serology Test Market Segmentation
By Type
- Primary Serology Testing
- Secondary Serology Testing
By Application
- Rotavirus Infections
- Hepatitis
- HIV-AIDS
- Endotoxins
- Others (COVID-19)
Regional Analysis
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
