PUBLISHER: The Business Research Company | PRODUCT CODE: 1526928
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526928
The potential of saliva-based COVID-19 screening tests pertains to the possible benefits and capabilities they offer in comparison to conventional methods such as nasopharyngeal or oropharyngeal swab tests for detecting the SARS-CoV-2 virus, which causes COVID-19. This potential encompasses enhancements in testing accessibility, patient acceptance, cost-effectiveness, and safety, while also facilitating the adoption of new testing strategies and approaches for better management of the pandemic.
Key locations where the potential of COVID-19 saliva screening tests is prominent include travel stations, sports arenas, entertainment venues, corporate campuses, universities and colleges, factories, and similar settings. Travel stations are specifically designated areas within transportation hubs where individuals can undergo COVID-19 saliva screening tests before commencing their journeys. These tests utilize various technologies such as fluorescence-labeled antigen, rt-PCR, and CRISPR-Cas9, with testing conducted through centralized or decentralized approaches.
The COVID-19 saliva screening test potential market research report is one of a series of new reports from The Business Research Company that provides COVID-19 saliva screening test potential market statistics, including COVID-19 saliva screening test potential industry global market size, regional shares, competitors with a COVID-19 saliva screening test potential market share, detailed COVID-19 saliva screening test potential market segments, market trends, and opportunities, and any further data you may need to thrive in the COVID-19 saliva screening test potential industry. This COVID-19 saliva screening test potential market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The COVID-19 saliva screening test potential market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.90 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The increase observed in the historic period can be credited to the potential for home testing, an unparalleled demand for diagnostic testing, heightened public awareness, and investments in research and development.
The COVID-19 saliva screening test potential market size is expected to see strong growth in the next few years. It will grow to $5.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The rise projected for the forecast period can be ascribed to integration with screening programs, regulatory backing, the burgeoning requirement for rapid, point-of-care COVID-19 tests, population growth, and the surge of e-commerce. Noteworthy trends anticipated in the forecast period encompass heightened adoption in non-healthcare environments, incorporation with digital health platforms, the advent of next-generation technologies, technological progressions, and strategic collaborations.
The uptick in healthcare expenditure is projected to drive the expansion of the potential market for COVID-19 saliva screening tests in the future. Healthcare expenditure encompasses the total spending on healthcare-related goods and services, encompassing prescription drugs, hospital stays, doctor visits, medical equipment, and public health initiatives. Several factors contribute to the increase in healthcare expenditure, including minimally invasive surgeries, advanced diagnostic technologies, heightened research and development for new pharmaceuticals, increased utilization of healthcare services, and the use of specialty medications. Elevated healthcare expenditure can furnish the necessary resources and support to harness the full potential of COVID-19 saliva screening tests, thereby aiding more effective pandemic management and fostering better public health outcomes. For example, in May 2023, the Office for National Statistics, a UK-based statistical authority, reported a 9.7% increase in real terms and a 9.4% increase in nominal terms in the UK's healthcare expenditure. The total healthcare expenditure in the UK in 2021 amounted to $367.25 billion (£280.7 billion), with pharmaceutical spending reaching $51.84 billion (£39.6 billion). Additionally, spending on preventative care surged more than fourfold to $45.93 billion (£35.1 billion) in 2021 compared to the previous year. Consequently, the rising healthcare expenditure propels the growth of the COVID-19 saliva screening test potential market.
Key players in the potential market for COVID-19 saliva screening tests are dedicated to developing innovative initiatives, such as COVID-19 saliva testing programs, to broaden their product portfolios and reach a wider customer base. A COVID-19 saliva testing program refers to an initiative or system implemented to detect SARS-CoV-2 (the virus causing COVID-19) using saliva samples instead of more invasive nasopharyngeal or nasal swabs. For instance, in April 2021, Mount Sinai Health System, a US-based healthcare network, introduced the Mount Sinai COVID-19 PCR Saliva Testing program to offer rapid, noninvasive, and accurate testing. This program is tailored to deliver swift and precise results, enabling individuals to confidently resume in-person work and leisure activities. Noteworthy for its scalability, the program aims to process up to 100,000 daily tests, ensuring widespread testing availability. Its efficiency is underscored by the ability to deliver results within 24 hours for most tests, showcasing rapid response capabilities. Furthermore, the program prioritizes providing child-friendly and comfortable testing options to facilitate the safe return to in-person learning and activities. This initiative underscores the significance of testing in curtailing COVID-19 transmission and supports community well-being during the reopening phase.
In June 2021, Hologic Inc., a US-based health technology company, completed the acquisition of Mobidiag Oy for an undisclosed sum. This strategic acquisition empowers Hologic to broaden its footprint in the diagnostics market by harnessing Mobidiag's cutting-edge near-patient molecular diagnostic instruments and tests. Mobidiag Oy, headquartered in Finland, specializes in COVID-19 saliva screening tests.
Major companies operating in the COVID-19 saliva screening test potential market are Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Becton Dickinson and Company, Danaher Corporation, University of North Carolina at Chapel Hill, Hologic Inc., Beaumont Health, PerkinElmer Inc., Quidel Corporation, University of Illinois at Urbana-Champaign, Cepheid, Seegene Inc., ARUP Laboratories, Vatic Health Limited, Ambry Genetics Corporation, LumiraDx Ltd., Yale School of Public Health, Gravity Diagnostics, Psomagen Inc., Fluidigm Corporation, Phosphorus Diagnostics LLC, DxTerity Diagnostics Inc., University of Notre Dame, MOgene, FLuroTech Ltd.
North America was the largest region in the COVID-19 saliva screening test potential market in 2023. The regions covered in the COVID-19 saliva screening test potential market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the COVID-19 saliva screening test potential market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The COVID-19 saliva screening test potential market consist revenues earned by entities by providing services such as sample collection services, laboratory testing services, diagnostic reporting services, and screening and monitoring services. The market value includes the value of related goods sold by the service provider or included within the service offering. The COVID-19 saliva screening test potential market also consists of sales of saliva collection kits, rapid saliva testing kits, laboratory testing supplies, and automated sample processing systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
COVID-19 Saliva Screening Test Potential Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on COVID-19 saliva screening test potential market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for COVID-19 saliva screening test potential ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The COVID-19 saliva screening test potential market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.