Global COVID-19 Saliva Screening Test Market to Reach USD 3,406.2 Billion by 2023
By Labmedica International staff writers
09 Jun 2021
The global COVID-19 saliva screening test potential market size is expected to expand at a CAGR of 4.8% from USD 2955.9 billion in 2021 to USD 3,406.2 billion by 2023, driven by a rise in the demand for rapid, efficient, saliva-based screening tests.
These are the latest findings of Grand View Research, Inc. (San Francisco, CA, USA), a market research and consulting company.
Saliva-based screening for SARS-CoV-2 is gaining traction in the current scenario, as it is easy to use, patient-friendly, and has a shorter test-to-result timeline. Saliva-based tests play a vital role in screening asymptomatic individuals, thereby aiding in market revenue generation in the near future. This is primarily due to the various advantages offered by saliva-based tests, increasing product approvals by regulatory bodies, and a paradigm shift toward point-of-care testing.
The fluorescence-labeled antigen/antibodies test is one of the recent saliva-based COVID-19 screening tests in the market that is based on the principles of fluorescence detection, biochemistry, robotics automation, and cloud computing. The fluorescence-labeled antigen/antibodies test is designed to accelerate rapid point-of-access testing of individuals.
Owing to the pandemic, the economy across various sectors is severely impacted. However, with the reopening of various sectors and locations such as shopping malls and amusement parks, there is a growing need for screening individuals to curb viral transmission. As the number of people visiting public places is increasing and reaching pre-pandemic statistics in a few countries, there is a growing demand for rapid, point-of-care COVID-19 tests to mitigate viral transmission from asymptomatic people. Thus, there is high growth potential for the market with the increase in usage of the medical test at various locations to screen individuals. This has enhanced the R&D for the development of simple yet effective saliva-based tests and is expected to create lucrative opportunities for several developers. Regulatory bodies such as the US FDA and European Medicine Agency (EMA) have supported these products by providing EUA and product approvals.
Globally, North America dominated the global market owing to the high penetration and adoption of saliva-based screening tests in the region. The US is the major contributor to revenue generation due to the emergence of new small and mid-sized companies engaged in the development of such tests.
Grand View Research, Inc.