COVID-19 Diagnostics Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global COVID-19 diagnostics market size is expected to reach USD 24.6 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.1% during the forecast period. An increase in the need for mass testing and efficiency in diagnosing the infection are key contributors to market growth. As the number of COVID-19 cases is exponentially rising, the need to develop rapid and easy-to-use diagnostic and serology tests is also increasing. This has created opportunities for emerging players and new market entries, thereby driving market revenue. Large-scale operational entities in Sweden, such as Tele2, H&M, and Spotify are engaged in mass testing for distinguishing the staff tested positive from uninfected. In addition, key players are constantly accelerating the production and supply of diagnostic tests to keep pace with the increasing need for disease containment. For instance, in May 2020, Roche introduced an antibody test which is recognized as 100% accurate by Public Health England. Exploring the potential of novel molecular technologies in the scaling-up of coronavirus testing is expected to offer a significant momentum to the expansion of COVID-19 diagnostics space. For instance, CRISPR-a gene editing technology-has recently made its way into the coronavirus testing market. This gene-editing technology enables detection of SARS-CoV-2 genes, via a protein, namely, CRISPR-Cas12. Acknowledging the potential of this technology in diagnosing coronavirus patients, the Food and Drug Administration (FDA) recently approved the CRISPR test for coronavirus patients in the U.S. This diagnostic kit has been approved under the provisions of emergency use.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/covid-19diagnostics-market The expanding pool of startup companies actively operating in the market for COVID-19 diagnostics is also expected to intensify market participant competition. This trend has been prominently observed in the Asia Pacific region, contributing to the fast-paced growth expected to be witnessed by this region through 2021-2027. Some of the startup manufacturers of novel COVID-19 tests include Mylab, DNA Xperts Private Limited, Rokid, Bione, and SD Biosensor. COVID-19 Diagnostics Market Report Highlights
Diagnostic service is estimated to capture the maximum revenue share owing to the introduction of policies and mandates to conduct testing at a large scale globally
The nasopharyngeal swabs segment is estimated to dominate the market in 2020 with a revenue share of 48%, followed by an Oropharyngeal (OP) swab. Nasopharyngeal swabs are the gold standard for COVID-19 sample collection; both oropharyngeal and nasopharyngeal swabs are largely employed in PCR testing. This has propelled the expansion of point-of-care COVID-19 testing market space, which has contributed to the segment’s fast-paced growth through 2021 to 2027
The increasing popularity of at-home testing and handheld instruments targeted toward combating the shortage of coronavirus test kits has been witnessed. This is expected to result in the lucrative growth of Point-of-Care (POC) testing during the forecast period
Laboratories are estimated to be the key revenue contributing end-users owing to the primary role of laboratories in sample testing for suspected individuals
Asia Pacific is projected to dominate the market for COVID-19 diagnostics in 2020 with a revenue share of around 37% and is expected to maintain this dominance during the forecast period. This is attributed to the robust funding for fast-track studies pertaining to clinical validation of rapid testing as well as the rapid launch of novel products. Robust government initiatives aimed at increasing the number of operational laboratories dedicated to coronavirus testing across Asian countries are set to propel the market growth
COVID-19 Diagnostics Market Segmentation Grand View Research has segmented the global COVID-19 diagnostics market on the basis of product & service, sample type, test type, mode, end-use, and region: COVID-19 Diagnostics Product & Service Outlook (Revenue, USD Million, 2020 - 2027) Instruments
Reagents & Kits
Service
COVID-19 Diagnostics Sample Type Outlook (Revenue, USD Million, 2020 - 2027) Nasopharyngeal (NP) Swab
Oropharyngeal (OP) Swab
Nasal Swab
Blood
Others
COVID-19 Diagnostics Test Type Outlook (Revenue, USD Million, 2020 - 2027) Molecular (PCR) Testing
Antigen-based Testing
Antibody (Serology) Testing
Others
COVID-19 Diagnostics Mode Outlook (Revenue, USD Million, 2020 - 2027) Point-of-Care (POC)
Non-Point-of-Care (Non-PoC)
COVID-19 Diagnostics End-use Outlook (Revenue, USD Million, 2020 - 2027) Laboratories
Hospitals
Diagnostic Centers and Clinics
Research Institutes
Get Sample Copy of Report @ https://www.grandviewresearch.com/industry-analysis/covid-19diagnostics-market/request/rs1
COVID-19 Diagnostics Regional Outlook (Revenue, USD Million, 2020 - 2027) North America
o
The U.S.
o
Canada
Europe o
Germany
o
The U.K.
o
Italy
o
France
o
Spain
o
Russia
Asia Pacific o
Japan
o
China
o
India
o
Australia
o
South Korea
Latin America o
Brazil
o
Mexico
The Middle East & Africa (MEA) o
South Africa
o
Saudi Arabia
List of Key Players of COVID-19 Diagnostics Market F. Hoffman-La Roche Ltd.
Thermo Fisher Scientific, Inc.
Perkin Elmer, Inc.
Neuberg Diagnostics
1drop Inc.
Veredus Laboratories
ADT Biotech Sdn Bhd
altona Diagnostics GmbH
bioMérieux SA
Danaher
Mylab Discovery Solutions Pvt Ltd.
ALDATU BIOSCIENCES
Quidel
Quest Diagnostics
Hologic Inc
Laboratory Corporation of America Holdings
Luminex Corporation
Cepheid
Abbott
Table of Contents Chapter 1 Methodology And Scope 1.1 Research Methodology 1.2 Research Assumptions 1.2.1 Estimates and Forecast Timeline 1.3 Information Procurement 1.3.1 Purchased Database 1.3.2 GVR’s Internal Database 1.3.3 Secondary Sources 1.3.4 Primary Research 1.3.5 Details of Primary Research 1.4 Information or Data Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation & Validation 1.6 Model Details 1.6.1 Commodity Flow Analysis 1.6.1.1 Approach 1: Commodity Flow Approach 1.6.2 Volume Price Analysis (Model 2) 1.6.2.1 Approach 2: Volume Price Analysis 1.6.2.2 revenue modeling 1.6.2.3 Workflow mapping of covid-19 diagnostics 1.7 List of Secondary Sources 1.8 List of Primary Sources Chapter 2 Executive Summary 2.1 COVID-19 Diagnostics Market: Market Outlook 2.1.1 Market Summary
2.2 COVID-19 Diagnostics Market: Market Segmentation 2.3 COVID-19 Diagnostics Market: Competitive Insights Continue……… About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com For More Information: http://www.grandviewresearch.com