Covid-19 Diagnostics Market by Product (PCR Kits, POC Kits and Immunoassay), Technology (Molecular and Immunoassay), and End User (Hospitals, Physician's office & urgent care clinics and Diagnostic Labs): Global Opportunity Analysis and Industry Forecast, 2021–2027.
|ID: VPR/HC/164||Publishing Year: January 2021||Pages: 128||Format:|
The Covid-19 Diagnostics Market was valued at $XXX billion in2019, and it is expected to reach $XXX billion by 2027, registering a CAGR of XX% from 2021 to 2027.The world is facing a pandemic situation due to the corona virus outbreak, which started back in 2019 end and the start of 2021, in the Wuhan city of China. Since 27th March, 2021 the virus epidemic has been confirmed in six continents and more than 197 countries. As per the World Health Organization some of the symptoms of Covid-19 infection are fever, tiredness, dry cough, shortness of breath, sore throat, and diarrhea in few cases, as well as nausea or a runny nose. The Corona Virus may spread from one person to other person through saliva droplets or discharge from nose, when an infected person coughs or sneezes. The time from contact of a person infected to the beginning of symptoms is generally between two to fourteen days, with an average of five days. The COVID-19 Diagnostic Tests are critical in managing for accurate diagnosis and to tackle the spread of the dieses. With the speedily growing number of cases of COVID-19 patients around the world, doctors and healthcare professionals need supply of diagnostic kits. Therefore, the kits are being made available with over 600 SARS-CoV-2 diagnostic tests which are either approved or in the development phase. Thus, urgent need for developing diagnostic tests is predicted in boosting growth of the global COVID-19 Diagnostics Market.
As per World Health Organization the positive cases of Covid-19 across the world rose to 416,686 with 18,589 deaths. In addition there is unavailability of specific medicine or a vaccine propels the Covid-19 Diagnostics Market Growth. However, absence of awareness among developing countries regarding the essential precautions to be taken and shortage of medical professionals that have necessary knowledge regarding the use of diagnostic kits for novel covid-19 are the major factors that would to hamper the Growth of Covid-19 Diagnostics Market.
The Covid-19 Diagnostics Market is segmented by Product, Technology and End User.
The product insights include PCR Kits, POC (point of contact) Kits and immune-assay. PCR is the widely used method. PCR kit is used to measure the quantity of genetic material (DNA or RNA) in a sample. This is a very sensitive test to identify whether a person is currently infected or not. POC is known as rapid antibody testing as it is quick (under 15 minutes). The test can be done by anyone without much training, if the individual is shown to immune, he or she can be reassured.
On the basis of technology insights, the PCR segment is expected to exhibit a noticeable growth rate in future, due to its increased demand for diagnosis of coronavirus patients. However, immunoassay section is expected to grow at the fastest growth rate during the forecast period.
The laboratories and hospitals are continuously increasing their testing capacities to address the rising demand. Moreover, private laboratories have also started towards coronavirus testing. Labs have leveraged high technologies to process a large amount of coronavirus tests accurately and quickly. Governments and companies are undertaking efforts to develop tests that can be precisely arranged in diagnostics centers, clinics, or physician’s offices.
Major Key players of Covid-19 Diagnostics Market:
1drop Inc. ,Abbott, ADT Biotech Sdn Bhd,ALDATU BIOSCIENCES, altona Diagnostics GmbH, bioMérieux SA , Cepheid, Mylab Lifesolutions Pvt. Ltd., SureScreen Diagnostics Ltd, Cellex Inc., Genematrix, Thermo Fisher Scientific, Inc.and Robert Bosch GmbH among others.
Most of the Covid-19 Diagnostics Market are focusing on business expansion to gain higher revenue share through adoption of strategies such as mergers and acquisitions and new product development.
Key Market Segments:
- PCR Kits
- POC Kits
- Immuno Assay
By End User:
- Physician's office and urgent care clinics
- Diagnostic Labs
- North America
- Rest of North America
- Czech Republic
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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