The COVID-19 polymerase chain reaction (PCR) tests market in China is forecasted to reach a peak market value of US$2bn in 2022 before demand for tests starts to recede as the COVID-19 cases are expected to move to a more seasonal infection cycle similar to the flu, says GlobalData, a leading data and analytics company.
GlobalData’s report, SARS CoV-2 (COVID-19) PCR Tests (In Vitro Diagnostics) – Global Market Analysis and Forecast Model (COVID-19 market impact), reveals that the COVID-19 PCR tests market is expected to be driven by the country’s mass testing strategy and PCR testing requirements for travelling.
In 2020, COVID-19 PCR tests market was dominated by F. Hoffmann-La Roche Ltd, Cepheid Inc, bioMérieux and Abbott Laboratories, which together accounted for around 50% of the total market in China.
In China, COVID-19 PCR testing is done through Nucleic Acid Amplification Tests (NAATs), Point of Care (POC) NAATs and multiplex NAATs. In 2020, NAATs accounted for more than 75% of the COVID-19 PCR tests market in China. NAATs is expected to hold the majority market share and remain the standard of testing due to its established and widespread use.
Bhaskar Vittal, Medical Devices Analyst at GlobalData, comments: “POC NAATs are gaining traction due to growing demand for rapid test solutions to increase the number of tests performed. Multiplex NAATs are expected to gain usage due to physician and patient preference.
“The market for COVID-19 diagnostic tests in China is expected to increase over the next two years. China has done a tremendous job in controlling the spread of COVID-19. However, with the pandemic still very much a global issue, the re-opening of China’s borders makes it vulnerable to the spread of COVID-19 again and might need a mass nucleic acid screening programs to assess the risk and tackle the infection.”