Global Coronavirus Diagnostics Market by Products; by Technology; by Sample Type; by Setting; by End User; by Region (North America, Europe, Asia-pacific, Latin America, Middle East Africa): Global Forecasts 2021 To 2027

The Global Coronavirus Diagnostics Market was valued at USD 16.04 Bn in 2020 and expected to reach USD 19.65 Bn by 2027, with a growing CAGR of 3.0% during the forecast period.

Diagnosis is process of identifying, determining, analysing, and reporting the disease or abnormal condition of the patient with specific signs and symptoms. The methods used to diagnose any patients are known as diagnostics methods. Covid-19 diagnostics are the preliminary diagnostics procedures that are performed to check whether the patient is infected or not. The most used diagnostic test is RT-PCR which is considered as gold-standard test for covid-19 infection confirmation.

Global Coronavirus Diagnostics Market Dynamics  

The driving factors influencing the global coronavirus diagnostics market include growing advances in diagnostic procedures and increasing prevalence of covid infections. Moreover, increasing patient population and rising need for rapid diagnostics testing procedures is expected to fuel the growth of the coronavirus diagnostics demand in the market during the forecast period. For instance, in April 2021, miDiagnostics (Vlaanderen) launched covid-19 diagnostics test which consists of an ultra-fast PCR test for point of care use. Due to increasing need for rapid diagnostics kits at public places such as airports, hospitals lead to the increased demand for development of rapid diagnostics test. According to the researchers, this kit is expected to hold excellent potential and accuracy at a speed of 20 times faster than lab PCR’s machines. This product is expected to contribute highest to the revenue of the company and hold huge potential for growth of coronavirus diagnostics demand in the market during the forecast period across the globe.   

Moreover, continuous rising covid-19 cases and lack of availability of specific medicine & vaccines are expected to propel the growth of the coronavirus diagnostics demand in the market during the forecast period. Furthermore, lack of awareness regarding diagnostics procedures among low economic countries such as India and China and lack of trained professionals with knowledge regarding diagnostics procedures are expected to hinder the growth of the coronavirus diagnostics market during the forecast period. On the contrary, pharmaceutical companies are now gaining their focus for the development of appropriate diagnostics kits are seeking immense opportunities in the coronavirus diagnostics market during the forecast period. For instance, Mylan (India) received the validation for its covid-19 diagnostics test kits by Drug Controller of India. Rising validation and approvals for diagnostics test kits are expected to stimulate the coronavirus diagnostics demand in the market during the forecast period.

Global Coronavirus Diagnostics Market Segmentation:

By Product

• Reagents & Kits
• Instruments

By Technology

• Polymerase Chain Reaction (PCR)
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Lateral Flow Immunoassay (LFIA)

By Sample Type

• Oropharyngeal & Nasopharyngeal Swabs
• Nasal Swabs
• Blood

By Setting

• Point-of-Care
• Lab-Based

By End User

• Hospitals & Clinics
• Laboratories & Diagnostic Centers
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the coronavirus diagnostics market are:

• Abbott
• Siemens Healthineers
• F. Hoffmann-La Roche
• Thermo Fisher Scientific
• Danaher
• Bio-Rad Laboratories
• Qiagen
• Quest Diagnostics
• Perkin Elmer Inc.
• Quidel Corporation
• BioMerieuxSA
• Sysmex Corporation
• Philips Healthcare
• GE Healthcare
• Serum Institute of India Pvt Ltd
• Randox Laboratories
• Trinity Biotech bioMérieux SA
• Johnson & Johnson
• Chembio Diagnostics
• EKF Diagnostics
• AccuBioTech
• Nova Biomedical
• PTS Diagnostics
• Instrumentation Laboratory Company
• Mylab Discovery Solution
• Hemex Health
• Linear Diagnostics
• Precipio Inc.

Based on product, reagents and kits are expected to hold the largest market share during the forecast period due to growing advances in diagnostic kits for speedy and precise results of the diagnostic procedures

Based on products, coronavirus diagnostics market is broadly segmented into instruments and reagents & kits. Reagents & kits segments held the largest market share in 2020 due to presence of large volume of reagents and test kits for covid-19 diagnostics and increased preference for on-the-spot diagnostic tests. Moreover, reagents & kits are expected to dominate the market during the forecast period due to continuous increasing variants in covid-19 and related infectious cases across the globe. Growing demand for single use diagnostics test kits lead to increase in consumption rate of test kits and rise in sales of the high-end instruments by commercial labs, hospitals, and other facilities monitoring large volume of covid-19 cases are expected to fuel the growth of the coronavirus diagnostics demand in the market during the forecast period. Increasing research & development in diagnostic kits and rise in product launch is further expected to boost the coronavirus diagnostics market during the forecast period. For instance, in July 2021, Patanjali Pharma Ltd. (India), an DST supported start-up company launched their affordable rapid antigen test kit for early diagnosis & surveillance that cost for Rs 100/test. This product is expected to be helpful for early covid-19 diagnosis in rural areas and places those lack in other diagnostic resources and path labs. Launch of diagnostic kit in the rural area is expected to contribute to the growth of the revenue of the company.

Based on technology, PCR segment is expected to account for the highest market share during the forecast period owing to increasing importance and preference for PCR-based diagnostic test

Based on technology, coronavirus diagnostics market is broadly segmented into polymerase chain reaction (PCR), lateral flow immunoassay (LFIA) and enzyme-linked immunosorbent assay (ELISA). PCR segment is expected to dominate the market during the forecast period due to the declaration of WHO as gold standard for covid diagnostics procedure and precise diagnostics results of this diagnostic technology. PCR diagnostics test procedures is accepted and used across the globe for accurate covid diagnosis which is further expected to propel the coronavirus diagnostics demand in the market during the forecast period. As the pandemic continues, many pharmaceutical and medical devices companies are now focusing for the development of more sensitive, specific, and advanced antigen & antibody test for covid-19 diagnosis. However, PCR diagnostic test proved to be the confirmatory test for covid-19 infection. Such rising demand for PCR diagnostic technology is expected to fuel the growth of coronavirus diagnostics market during the forecast period. For instance, in May 2021, Cipla Limited (India) announced the commercialization and marketing of RT-PCR technology-based kits named ‘ViraGen’ for covid-19 diagnosis in India. This product was developed in partnership with Ubio Biotechnology System Pvt. Ltd (India). This product launch is expected to be an addition to their largest covid care product portfolio. ViraGen is expected to be manufactured by Ubio Biotechnology and Distributed and manufactured by Cipla through their extensive distribution channel across the globe.

 The report also provides in-depth analysis of coronavirus diagnostics industry dynamics such as drivers, restraints, opportunities, and challenges

Drivers

• Growing prevalence of covid cases
• Rising testing capacity
• Increasing demand for molecular testing procedures
• Growing upgradation and launch in diagnostic kits

Restraints

• Lack of reliability on diagnostic kits results
• Shortage of supply of diagnostic kits due to rising covid-19 infection cases

Opportunity

• Emergence of new start-up of key market players
• Growing demand for mass testing procedures
• Health decentralization and exploration of untapped region across the globe

Challenges      

• Lack of diagnostic procedures in developing economies such as India and China due to less availability of laboratory infrastructure

COVID-19 Impact on the Coronavirus Diagnostics Market Analysis

Covid-19 pandemic has positively impacted the growth of the coronavirus diagnostics demand in the market. Sudden covid-19 outbreak lead to an increase in demand for diagnostic tests across the globe.  Upsurge in covid-19 cases gained the attention of pharmaceutical and medical devices companies for the development of covid infection diagnostics kits across the globe. Moreover, increased covid-19 cases lead to the execution of certain government restrictions on travel, social-distancing and closure of many manufacturing industries which disrupted the supply chain across the globe. Over the past few months, consortium worked to identify and negotiate with suppliers and manufacturers to ensure the supply of the coronavirus diagnostic products to low-to-middle income countries wherein the covid-19 wave hit to the hardest. On the contrary, rising emergence of covid variants such as omicron & florona and growing incidences of covid-19 cases are expected to fuel the growth of coronavirus diagnostics demand during the forecast period.

The report also provides an in-depth analysis of key trends in coronavirus diagnostics market

The report also provides an in-depth analysis of recent news developments and investments

• In May 2020, Adaptive Biotechnologies Crop. (US) announced the launch of ‘ImmuneRACE’ a virtual clinical study with Microsoft Corp.  (US) to measure, map and analyse the immune response of the covid-19 virus to inform improved diagnostics tests to fulfil the demand for more reliable diagnostics testing procedures. This study is expected to address the need of novel covid-19 diagnostics to address unmet demand in diagnostics testing procedures. This product introduction is expected to address the upsurge for covid-19 testing procedure and would help the company to contribute in the growth of the revenue.
• In October 2020, Roche (Switzerland) and Atea Pharmaceuticals (US) collaborated to fight against covid-19 by developing, manufacturing and distributing AT-527, an Atea’s oral direct-acting antiviral across the globe. AT-527 is expected to work for post-exposure prophylactic settings. The successful launch of the oral medication is expected to treat patients early and help to reduce infection progression and this would contribute to the decrease in overall disease burden on the healthcare system. Moreover, Atea would be responsible for distribution of treatment in US which would help to expand the Roche’s distribution network in US region and Roche is expected to distribute the treatment outside the US to leverage the networking of Atea in this region.

The unique insights provided by this report also includes the following:

• In-depth Value Chain Analysis
• Opportunity Mapping
• Sector Snapshot
• Key Players Positioning Matrix
• Regulatory Scenario
• Strategies Adopted-Benchmarking Heat Map
• Market Trends
• Covid-19 Impact Analysis
• Product Comparison
• Pre & Post COVID 19 Impacts on Coronavirus Diagnostics Market
• Competitive Landscape

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