Global COVID 19 Diagnostics Market Overview
Covid-19 is a transferrable disease caused by a recently discovered coronavirus. According to World Health Organization (WHO), common symptoms of Covid-19 include fever, dry cough, and tiredness. This infectious disease might spread from one person to other person through saliva droplets or discharge from nose, when an infected person sneezes or coughs. Currently, the most broadly used diagnostic test for detection of Covid-19 is RT PCR or reverse transcriptase PCR. PCR technique is considered as the standard method for diagnosis of various infectious agents. Moreover, leading key players involved in diagnostic kits such as Thermo Fisher Scientific, Roche Diagnostics, and Quest Diagnostics are considerably growing their capacity to perform such tests by rolling out automated SARS-CoV-2 testing systems. Nevertheless, few manufactures such as SureScreen are directing towards developed of rapid immunoassay tests for Covid-19 diagnosis.
Impact of Covid-19 pandemic on market
Number of patients suffering from Covid-19 is rising day by day. Governments of all Covid-19 hit nations are facing major shortages in the supply of diagnostic kits to test for the virus. Diagnostic institutes are under pressure to meet the growing demands for reliable testing kits. This report will quantify the impact of this pandemic on the diagnostics market.
Global COVID 19 Diagnostics Market Dynamics
Growth in prevalence’s of coronavirus worldwide
Due to increasing number of cases infected by coronavirus globally, there is increase in need for developing diagnostic tests which is expected to propel the global market growth. In addition, for accurate and efficient COVID-19 diagnosis, clinicians requires an on-site or a portable diagnostic test for real-time management of patients in minimal time. This has led to stimulate the approval of Point-of-Care (POC) testing for diagnosis, mainly designed at decreasing the assay duration from hours to a few minutes. For instance, in March 2020, the Food and Drug Administration (FDA) delivered Emergency Use Authorization (EUA) to the first POC test-Xpert Xpress test developed by Cepheid-for COVID-19 diagnosis. Chembio and Abbott Diagnostics are among the leading market players working in the point-of-care marketplace.
Integration of novel technologies
Adoption of software solutions and novel technologies with COVID-19 testing is projected to create new avenues for market expansion. For example, the manufactures are involved in incorporating artificial intelligence (AI) algorithms in COVID-19 tests for efficient and rapid diagnosis. Moreover, Surgisphere Corporation, a U.S.-based firm, launched an AI-based rapid diagnostic tool for the detection of coronavirus in March 2020. This diagnostic tool involves 99.9% specificity and 93.7% sensitivity, supplementing accurate identification of virus and avoiding transmission of the infection.
However, limited testing capacity and lack of awareness related to coronavirus symptoms and testing is expected to limit growth of the target market.
Global COVID 19 Diagnostics Market Segmentation
COVID-19 diagnostics market is segmented based on product, sample type, technology, end-user, and region.
On the basis of product, the COVID-19 diagnostics market is segmented into instruments and reagents & kits. On the basis of sample type, the global market is classified into oropharyngeal & nasopharyngeal swabs, blood, urine, and others. Based on technology, the global market is classified into polymerase chain reaction (PCR), antibody or enzyme-linked immunosorbent assay (ELISA), serology, portable or point-of-care (POC), and others. Based on end-user, the global market is classified into laboratories, hospitals, diagnostic centers & clinics, and research institutes.
Regional Insights:
On region the COVID-19 diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is likely to lead the target market for COVID-19 diagnostics with a share of 40% in 2020, owing to high awareness levels about the diagnosis, spread, and effective management of coronavirus infection. In March 2020, Novacyt Group, a French clinical diagnostics company, received the EUA for its 2-hour coronavirus test. This has eventually enhanced the diagnostic product approvals that would contribute to Europe’s dominant revenue share in 2020. Additionally, Abbott received CE approval for its IgG serology blood test for coronavirus in April 2020. Furthermore, Asia Pacific is projected to register the fastest growth rate in the coming years, owing to growth in the number of new entrants that provide COVID-19 diagnostic solutions. For instance, in March 2020, Mylab Discovery Solutions receive approval for its Mylab PathoDetect COVID-19 qualitative PCR kit and is the first India-based company.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2020 |
|
Forecast period |
2020 – 2029 |
|
Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
|
Market Segmentation |
By Product- Instruments and Reagents & Kits By Sample Type– Oropharyngeal & Nasopharyngeal Swabs, Blood, Urine, and Others By Technology– Polymerase Chain Reaction (PCR), Antibody or Enzyme-Linked Immunosorbent Assay (ELISA), Serology, Portable or Point-of-Care (POC), and Others By End-user– Laboratories, Hospitals, Diagnostic Centers & Clinics, and Research Institutes |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029. For the purpose of this study, has segmented the COVID-19 diagnostics market report based on product, sample type, technology, end-user, and region.
COVID-19 Diagnostics Market, By Product:
- Instruments
- Reagents & Kits
COVID-19 Diagnostics Market, By Sample Type:
- Oropharyngeal & Nasopharyngeal Swabs
- Blood
- Urine
- Others
COVID-19 Diagnostics Market, By Technology:
- Polymerase Chain Reaction (PCR)
- Antibody or Enzyme-Linked Immunosorbent Assay (ELISA)
- Serology
- Portable or Point-of-Care (POC)
- Others
COVID-19 Diagnostics Market, By End-user:
- Laboratories
- Hospitals
- Diagnostic Centers and Clinics
- Research Institutes
COVID-19 Diagnostics Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global COVID 19 Diagnostics Market Key Players
The key players operating in the COVID-19 diagnostics market includes Abbott Diagnostics, Accelerate Diagnostics, Expedeon Ltd., Beckman Coulter Inc., Ador Diagnostics, Cepheid Inc., Akonni Biosystems Inc., Bio-Rad Laboratories, Becton, Dickinson and Company, Lonza, and Fusion Genomics Corporation. Manufactures are continuously expanding the production and supply of diagnostic tests in order to meet the growing need for disease containment. Further, key players are also adopting profitable strategic plans including collaborations and partnerships, product development, and business expansion to meet the customer’s needs in untapped regions. For instance, in May 2020, Quest Diagnostics declared its collaboration with Ortho Clinical Diagnostics. The collaboration aimed to expand the COVID-19 antibody testing across more than 20 laboratories of Quest throughout U.S.
Global COVID 19 Diagnostics Market Company Profile
- Abbott Diagnostics
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Accelerate Diagnostics
- Expedeon Ltd.
- Beckman Coulter Inc.
- Ador Diagnostics
- Cepheid Inc.
- Akonni Biosystems Inc.
- Bio-Rad Laboratories
- Becton, Dickinson and Company
- Lonza
- Fusion Genomics Corporation
“*” marked represents similar segmentation in other categories in the respective section.
Global COVID 19 Diagnostics Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for COVID-19 Diagnostics Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Sample Type
- Market Snippet, By Technology
- Market Snippet, By End-user
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Product, 2020 – 2027, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
- Y-o-Y Growth Analysis (%), 2020 – 2027
- Segment Trends
- Instruments
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Reagents & Kits
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Overview
- Market Segmentation, By Sample Type, 2020 – 2027, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
- Y-o-Y Growth Analysis (%), 2020 – 2027
- Segment Trends
- Oropharyngeal & Nasopharyngeal Swabs
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Blood
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Urine
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Overview
- Market Segmentation, By Technology, 2020 – 2027, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
- Y-o-Y Growth Analysis (%), 2020 – 2027
- Segment Trends
- Polymerase Chain Reaction (PCR)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Antibody or Enzyme-Linked Immunosorbent Assay (ELISA)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Serology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Portable or Point-of-Care (POC)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Overview
- Market Segmentation, By End-user, 2020 – 2027, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
- Y-o-Y Growth Analysis (%), 2020 – 2027
- Segment Trends
- Laboratories
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Diagnostic Centers & Clinics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Research Institutes
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2027
- Overview
- Global Market, By Region, 2020 – 2027, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2027
- Y-o-Y Growth Analysis (%), 2020 – 2027
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Sample Type, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Technology, 2020 – 2027
- Market Size and Forecast (US$ Mn), By End-user, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2027
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Sample Type, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Technology, 2020 – 2027
- Market Size and Forecast (US$ Mn), By End-user, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2027
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Sample Type, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Technology, 2020 – 2027
- Market Size and Forecast (US$ Mn), By End-user, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2027
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Sample Type, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Technology, 2020 – 2027
- Market Size and Forecast (US$ Mn), By End-user, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2027
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Sample Type, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Technology, 2020 – 2027
- Market Size and Forecast (US$ Mn), By End-user, 2020 – 2027
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2027
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Abbott Diagnostics
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Accelerate Diagnostics
- Expedeon Ltd.
- Beckman Coulter Inc.
- Ador Diagnostics
- Cepheid Inc.
- Akonni Biosystems Inc.
- Bio-Rad Laboratories
- Becton, Dickinson and Company
- Lonza
- Fusion Genomics Corporation
- Abbott Diagnostics
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global COVID-19 diagnostics market is segmented based on the product, sample type, technology, end-user, and region.
Growth in the prevalence’s of coronavirus worldwide is the major factor driving the growth of the global market.
Europe is likely to lead the target market for COVID-19 diagnostics with a share of 40% in 2020, owing to high awareness levels about the diagnosis, spread, and effective management of coronavirus infection.
Manufacturers are continuously expanding the production and supply of diagnostic tests in order to meet the growing need for disease containment. Further, key players are also adopting profitable strategic plans including collaborations and partnerships, product development, and business expansion to meet the customer’s needs in untapped regions. For instance, in May 2020, Quest Diagnostics declared its collaboration with Ortho Clinical Diagnostics.