The COVID-19 pandemic has wreaked havoc on the youth Labour market, the ILO said. The ILO's just-released Global Employment Trends 2022 report found that the job prospects of young people aged 15 to 24 lag behind other age groups.
The latest figures estimate that the total number of unemployed young people worldwide will reach 73 million this year. While this is a slight improvement on 2021 levels, the ILO says the number of unemployed young people is still 6 million above the 2019 pre-pandemic level.
Martha Newton, deputy director-general of the ILO, said the COVID-19 crisis had exposed flaws in the way young people's needs were being addressed. Those least able to get a foothold in the labor market include first-time job seekers, dropouts, inexperienced recent graduates and those who remain involuntarily inactive, she said.
"With the onset of the pandemic in 2020, the percentage of young people neither in employment, education or training - what we call NEETS - rose to 23.3 percent, the highest level ever... We've seen youth NEET rates jump to their highest level in 15 years, "Newton said.
Throughout the pandemic, young people have faced a multidimensional crisis, the ILO said. It says disruption to their education and training leaves them without the skills they need to find jobs. This could harm their long-term employment, education and income prospects, it said.
Newton says job opportunities for many young people are shrinking. She added that young women are worse off than young men when it comes to finding work. The ILO projects that 27.4 percent of young women worldwide are likely to be employed by 2022, compared with 40.3 percent of young men, she said.
The report finds that youth unemployment recoveries are likely to be more successful in high-income countries than in low - and middle-income countries. It expects youth unemployment in North America to be below the world average at 8.3 percent, compared with 20.5 percent in Latin America this year.
Although Africa's youth unemployment rate is 12.7 percent, the report says that figure masks the fact that many young people in Africa are opting out of the labor market. The International Labor Organization ranks Arab countries as having the highest and fastest growing youth unemployment rates in the world. It says the situation is particularly bad for women. The report notes that the unemployment rate for young women in the region is 42.5 percent, nearly three times the global average for young women.
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Analysis and forecast of the market size of PCR diagnostic industry
Polymerase chain reaction (PCR) is a nucleic acid synthesis technology that uses the principle of DNA double-strand replication to replicate specific DNA fragments in vitro. With this technology, the detection equipment can amplify the target gene in a large number in a short time, expanding the target gene fragment to the order of millions to billions, thus achieving high sensitivity detection. At present, polymerase chain reaction (PCR) diagnosis of infectious diseases such as hepatitis, venereal disease, intestinal respiratory disease and tumor single gene detection is an important application field. In 2020, polymerase chain reaction (PCR) diagnostic technology was identified as the "gold standard" for COVID-19 diagnosis due to its high sensitivity and accuracy.
China's PCR diagnostic market is developing rapidly, with the market size growing rapidly from about RMB 2.37 billion in 2015 to about RMB 5.93 billion in 2019, with a compound annual growth rate of 25.8%. China's PCR industry experienced explosive growth due to the huge demand for testing caused by the outbreak of COVID-19 in 2020, and the market size of China's PCR diagnostic industry exceeded 10 billion yuan in 2020. With the introduction of a large number of PCR diagnostic instruments, the PCR diagnostic industry will enter a new stage of development. It is expected that the PCR diagnostic industry will maintain a double-digit growth rate, and the market size of the PCR diagnostic industry will reach about 23.42 billion yuan in 2030 based on the factory price, and the cagR will reach about 13.3% from 2019 to 2030.
Market Demand of the covid pcr test kit
The DNA/RNA Extraction Kit market and other covid pcr test kit s are projected to grow at a CAGR of 8.26% during the forecast period 2022-2027.
The COVID-19 pandemic has impacted the covid pcr test kit market for a short time due to restrictions on different business and research activities for covid pcr test kit s. In addition, diagnostic tests for other diseases and medical conditions in hospitals and other clinical diagnostic facilities have been affected as COVID-19 has led to fewer patients taking tests. However, the high rate of COVID-19 infection and research activities are undertaken by major companies in the field of sequencing to expand their understanding of the virus and its origins, as well as molecular diagnostics of the SARS-COV-2 virus, have led to the development and launch of many DNA - and RNA-BASED COVID-19 kits, The kits proved so important that they were in great demand.
Market drivers for the covid pcr test kit
The growth of the DNA/RNA extraction kit market is primarily driven by increased investment in R&D activities in different areas, including molecular diagnostics for different chronic and infectious diseases. For example, the US spent $842 billion on R&D activities in 2020, followed by China at $664 billion, according to the ORGANISATION for Economic Co-operation and Development. Technological advances worldwide, new product launches by major market players, and an increase in cancer cases are also likely to complement the growth of the markets under study.
Other factors, such as increased demand for automation of DNA/RNA extraction technologies, new user-friendly and easy extraction kits, and DNA/RNA for analysis of new diseases causing microorganisms, are expected to drive DNA/RNA growth. RNA Extraction Kit market during the forecast period. Therefore, low awareness and availability of the kit and low market penetration in less developed and developing regions around the world are the major factors limiting the growth of the DNA/RNA extraction kit market.
North America is expected to dominate the global covid pcr test kit market during the forecast period
North America, which holds a major share in the covid pcr test kit market, is expected to show a similar trend during the forecast period, mainly due to the high level of R&D activity in the region and the presence of major market players in the region constantly developing their products for the markets studied.
In the region, the US is expected to take a major share of the DNA/RNA extraction kit market due to heavy investment in R&D by government and private entities, increased demand for covid pcr test kit s, and the rising prevalence of chronic diseases.
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