Global Covid 19 Diagnostics Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 46.76 Billion |
 Market Size (Forecast Year) |
USD 86.55 Billion |
 CAGR |
% |
| Major Markets Players |
Global COVID-19 Diagnostics Market, By Test Type (Molecular Assays, Serologic Immunoassays and Ancillary Diagnostic Tests), Product (Polymerase Chain Reaction Kits, Point-of-care (POC) Tests Kits, Immunoassay, Instruments, Reagent and Kits), Technology (Polymerase Chain Reaction (PCR), Enzyme Linked Immunosorbent Assay (ELISA), Lateral Flow Immunoassay (LFIA), and Others), Sample Type (Oropharyngeal and Nasopharyngeal Swabs, Nasal Swabs, Blood and Others), Setting (Lab based and Point of Care), End User (Hospitals, Public Health Labs, Private or Commercial Labs, Urgent Care Clinics, Physician Labs) – Industry Trends and Forecast to 2029.
COVID-19 Diagnostics Market Analysis and Size
The Centers for Disease Control and Prevention (CDC) has developed two laboratory tests to identify SARS-CoV-2, the virus that causes COVID-19. The CDC 2019-Novel Coronavirus (2019-nCoV) Real-Time RT-PCR Diagnostic Panel, which detects SARS-CoV-2 in respiratory specimens, was the first test distributed for COVID-19 diagnosis, and it was released in February 2020. In July 2020, the CDC released the CDC Influenza SARS-CoV-2 (Flu SC2) Multiplex Assay, which allows public health laboratories to run three tests in a single reaction well. The Flu SC2 Multiplex uses fewer test reagents, has a higher throughput, and provides accurate results for the presence of SARS-CoV-2, influenza A, and influenza B nucleic acid in a patient specimen.
Data Bridge Market Research analyses that the COVID-19 diagnostics market which was USD 46.76 billion in 2021, is expected to reach USD 86.55 billion by 2029, at a CAGR of 8.00% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
COVID-19 Diagnostics Market Scope and Segmentation
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Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Test Type (Molecular Assays, Serologic Immunoassays, Ancillary Diagnostic Tests), Product (PCR Kits, POC Kits, Immunoassay, Instruments, Reagent and kits), Technology (Polymerase Chain Reaction (PCR), Enzyme Linked Immunosorbent Assay (ELISA), Lateral Flow Immunoassay (LFIA), and others), Sample Type (Oropharyngeal and Nasopharyngeal Swabs, Nasal Swabs, Blood and others), Setting (Lab based and Point of Care), End User (Hospitals, Public Health Labs, Private or Commercial Labs, urgent care clinics, Physician Labs) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
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Market Players Covered |
QIAGEN (Germany), F.Hoffmann-La Roche Ltd (Switzerland), Seegene Inc. (South Korea), SolGent Co. Ltd (South Korea), Curetis (Germany), KURBO INDUSTRIES LTD. (Japan), Devex (U.S.), Thermo Fisher Scientific Inc (U.S.), Mylab Discovery Solutions Pvt. Ltd (India), Abbott (U.S.), Getein Biotech, Inc (China), Biomaxima SA (Poland), CTK Biotech, Inc (U.S.), CDC (U.S.), BGI (China), Luminex Corporation (U.S.), Avellino.com (U.S.), PerkinElmer Inc (U.S.), Danaher (U.S.), Thermo Fisher Scientific Inc. (U.S.) |
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Market Opportunities |
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Market Definition
The novel coronavirus is a single-stranded RNA coronavirus that resembles existing SARS-CoV. As this spreads by close contact with an infected individual and is largely spread through respiratory droplets produced by coughing and sneezing. Coronavirus, which is now a global epidemic, was first discovered in the Chinese area of Wuhan. It is also known as coronavirus illness or COVID-19. RT-PCR, isothermal nucleic acid amplification, antibody detection, and other technologies are utilised in testing kits for the COVID-19 test, which is used to identify the SARS-CoV-2 virus. Serological tests are employed for population surveillance, diagnosis, and the identification of antibodies.
Global COVID-19 Diagnostics Market Dynamics
Drivers
• Need for test kits in hospitals is a driver
The need for coronavirus test kits has expanded along with the coronavirus's widespread. With the aid of test kits, coronavirus identification has become more crucial than ever in order to control the infection's spread and boost the market expansion. Only specialised labs that are licenced to conduct the tests included in this kit, which are of the serology and molecular types. As the kits are based on techniques including real-time polymerase chain reactions, IgM ELISA tests, and microneutralization assays, samples are taken from the nose, sputum test, blood sample, throat swab, and nasal aspirate for testing. The demand for the industry is growing as a result of the global coronavirus outbreak. As the number of patients in hospitals is increasing rapidly, the need for test kits in hospitals to diagnose the patients with symptoms is also increasing which is further drive the market growth.
• Technological advancements in COVID-19 rapid testing
Vendors created a variety of innovative rapid testing kits, including cups, cards, and smart test kits. Saliva samples were employed in painless quick testing kits. Additionally, test kits with quicker findings were released on the market. Rapid testing is preferred over other COVID-19 testing kits as a result of these developments. For instance, Meril Diagnostics, an international medical firm with operations in India, produces the non-prescription CoviFind COVID-19 Rapid Antigen Self-Test, which is available and has received approval from the Indian Council of Medical Research (ICMR) for routine usage in India. The introduction of novel and innovative diagnostic tests, such as immunoenzymatic serological tests, rapid antigen tests, and RT PCR-based molecular tests, is expected to drive industry demand.
Opportunities
- Rising number of COVID-19 patients
With the rapidly increasing number of COVID-19 patients worldwide, healthcare professionals require a consistent supply of diagnostic kits, which is expected to have a significant impact on the COVID-19 diagnostics market from 2022 to 2029. The growing number of suspected cases and the need to ensure that test results are correct which has resulted in an increase in demand for more kits, as well as increased safety concerns and the need to diagnose and isolate infected persons, which are expected to boost market growth.
Restraints/Challenges
- Lack of knowledge regarding COVID-19
Lack of knowledge regarding COVID-19 and its symptoms, ability to increase in certain developing regions among professionals will obstruct the market's growth rate. Time required for result is more than 24 hours which is bit longer and will act as a restraint, and further challenge the growth of the COVID-19 Diagnostics market in the forecast period mentioned above. The increased number of false-positive and false-negative results is one of the main drawbacks of fast testing. A set of COVID-19 test kits contained instances of findings that were both falsely positive and falsely negative. When verified with alternate COVID-19 testing, individuals with COVID-19 symptoms both tested negative and positive. These incidents caused the use of COVID-19 fast test kits to decline in some countries.
This COVID-19 diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the COVID-19 diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the COVID-19 Diagnostics Market
COVID-19 had a positive impact on the market, by finding the sick person and person-to-person transmission, the testing significantly contributes to controlling and mitigating the pandemic. One of the most frequently used COVID-19 tests worldwide is rapid antigen testing. Results from this diagnosis, which quantifies the amount of viral protein, can be obtained in within 15 minutes. However, with time, more people started using fast diagnostics kits, and vendors also started making highly sensitive COVID-19 rapid test kits.
Recent developments
- In July 2021, Abbott launched the PanbioTM COVID-19 antigen self-test in India to expand its quick diagnostics offering to meet screening requirements at home, work, and clinics.
- In March 2021 Roche Diagnostics announced the permission for Emergency Use Authorization (EUA) from the United States Food and Drug Administration (FDA) for the COVID-19 rapid antigen test, which is intended for use by healthcare professionals in point-of-care situations with COVID-19 patients.
Global COVID-19 Diagnostics Market Scope
The COVID-19 diagnostics market is segmented on the basis of test type, product, technology, sample type, setting and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Test Type
- Molecular Assays
- Serologic Immunoassays
- Ancillary Diagnostic Tests
Product
- Polymerase Chain Reaction Kits
- Point-of-care (POC) tests Kits
- Immunoassay
- Instruments
- Reagent and kits
Technology
- Polymerase Chain Reaction (PCR)
- Enzyme Linked Immunosorbent Assay (ELISA)
- Lateral Flow Immunoassay (LFIA)
- Others
Sample Type
- Oropharyngeal and Nasopharyngeal Swabs
- Nasal Swabs
- Blood
- Others
Setting
- Lab based
- Point of Care
End User
- Hospitals
- Public Health Labs
- Private or Commercial Labs
- Urgent care clinics
- Physician Labs
COVID-19 Diagnostics Market Regional Analysis/Insights
The COVID-19 diagnostics market is analysed and market size insights and trends are provided by country, test type, product, technology, sample type, setting and end user as referenced above.
The countries covered in the COVID-19 diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the COVID-19 diagnostics market due to the well-established healthcare system and the presence of numerous existing pharma companies in this particular region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the increasing cases of coronavirus along with the presence of several industry players.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The COVID-19 diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for COVID-19 diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the COVID-19 diagnostics market. The data is available for historic period 2010-2020.
Competitive Landscape and COVID-19 Diagnostics Market Share Analysis
The COVID-19 diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to COVID-19 diagnostics market.
Some of the major players operating in the COVID-19 diagnostics market are:
- QIAGEN (Germany)
- F.Hoffmann-La Roche Ltd (Switzerland)
- Seegene Inc (South Korea)
- SolGent Co. Ltd (South Korea)
- Curetis (Germany)
- KURBO INDUSTRIES LTD. (Japan)
- Devex (U.S.)
- Thermo Fisher Scientific Inc (U.S.)
- Mylab Discovery Solutions Pvt. Ltd (India)
- Abbott (U.S)
- Getein Biotech, Inc (China)
- Biomaxima SA (Poland)
- CTK Biotech, Inc (U.S.)
- CDC (U.S.)
- BGI (China)
- Luminex Corporation (U.S.)
- Avellino.com (U.S.)
- PerkinElmer Inc (U.S.)
- Danaher (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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