COVID-19 Diagnostics Market Size, Share, Growth Analysis, By Sample Type(Oropharyngeal swabs, nasopharyngeal, swabs, and blood), By Technology(Polymerase chain reaction, Enzyme-linked immunoassay (ELISA), and lateral flow immunoassay), By End users(Laboratories, hospitals, diagnostic centers and clinics, and others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35B2067 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 92 |Figures: 76

COVID-19 Diagnostics Market Insights

COVID-19 Diagnostics Market size was valued at USD 97.4 billion in 2021 and is poised to grow from USD 95.2 billion in 2022 to USD 50.1 billion by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

Covid-19 (coronavirus disease) is a highly contagious viral infection caused by the severe acute respiratory syndrome. COVID-19 had a severe impact on the population of the world, causing more than 6 billion deaths globally and becoming the most severe worldwide health crisis. The first case of COVID-19 was reported in Wuhan, Hubei Province, China, in late December 2019. COVID-19 rapidly spread across the world in a short period of time, and the world health organization (WHO) declared it is a global pandemic on 11 march 2020.

Health services around the world are struggling to manage the population of COVID-19 patients, and researchers are looking for solutions. On the other hand, all business and operation sectors witnessed severe economic loss due to imposition of lockdown regulations in order to stop the spread of the virus. Globally, GDP has fallen, unemployment has risen and inflation has risen. The high rate of coronavirus transmission has led to a rapid increase in COVID-19 cases and deaths worldwide and has increased the need for diagnosis and treatment. However, a key challenge to achieving successful solutions is the lack of information on the new virus, such as biological and genetic information, and the duration of immunity in recovered patients, which are important for developing safe and effective treatments.  According to some statistics, the total number of cases witnessed a spike with 33,556,252 patients testing positive as of 28th September 2020 to 55,961,380 patients on 17th November 2020.

In terms of treatment options, the industries are focused on developing immunotherapy, vaccines, antiviral, cell-based therapies, and plasma therapies. Currently, about 205 different therapies and 124 vaccines are in the development stage. Antibodies, protein-based vaccines, Antivirals, RNA-based vaccines, non-replicating viral vectors, and cell-based therapies are several most significant research topics that fall under the COVID-19 Diagnostic study category. Vaccines and antivirals are the most extensively researched treatment options currently being investigated by researchers around the world.

US COVID-19 Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 97.4 billion

Largest Segment

Nasopharyngeal Swabs

Fastest Growth

Oropharyngeal Swabs

Growth Rate

7.7% CAGR

Global COVID-19 Diagnostics Market 2022-2030 ($ Bn)
Country Share for Europe Region- 2022 (%)

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COVID-19 Diagnostics Market Segmental Analysis

COVID-19 Diagnostics Market is segmented on the basis of sample type, by technology, end users, and region. Based on sample type, the COVID-19 Diagnostics Market is segmented into oropharyngeal swabs, nasopharyngeal, swabs, and blood. Based on technology, the COVID-19 Diagnostics Market is segmented into polymerase chain reaction, enzyme-linked immunoassay (ELISA), and lateral flow immunoassay. With respect to segmentation by end user, the COVID-19 Diagnostics Market is categorized into laboratories, hospitals, diagnostic centers and clinics, and others.In terms of region, the COVID-19 Diagnostics Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

COVID-19 Diagnostics Market Analysis by sample type

By sample type, the market is segmented into oropharyngeal swabs, nasopharyngeal swabs, and blood. The nasopharyngeal swabs segment earned the dominant share in the market because of increasing COVID-19 testing through such swab tests. Nasopharyngeal swab tests are easy, convenient, and can be conducted quickly. These swabs are consumer-friendly and the results appear within a few hrs. In June 2020, global time reported that Beijing sampled 2.29 million people using swab tests for screening COVID-19 cases between 11th June and 20th June.

The nasal swab segment holds the second leading position in the market with higher collection of samples for researchers. Researchers have collected blood samples from COVID-19 patients to research the activity for development of plasma therapy.

COVID-19 Diagnostics Market Analysis by Technology

In terms of technology, the market is classified into polymerase chain reaction (PCR), Enzyme-linked immune, assay (ELISA) and lateral flow immunoassay (LFIA). The PCR segment dominated the COVID-19 diagnosis and treatment market. In 2020, in a news article published in the Hindu newspaper, researchers from the center for cellular and molecular biology said that the PCR technique is less expensive than other techniques. PCR-based detection techniques are increasing, so demand for PCR instruments is going to increase in the next few years.

The ELISA segment grows at a substantial level because ELISA tests have procedures with high efficiency. The LFIA Segment holds the second leading position in the market. This test identifies novel coronavirus antigen through nasal and nasopharyngeal samples and provides results within 15 minutes.

Global COVID-19 Diagnostics Market By Sample Type, 2022 (%)

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COVID-19 Diagnostics Market Regional Insights

The market size of North America is USD 11.97 billion in 2021, thus registering the fastest growth rate. The market in the region is expected to grow at a substantial level because of the sudden rise in COVID-19 cases and deaths in this region, so the demand for diagnosis and treatment increases.

Europe dominated the global market in 2021. The dominance of these regions is due to the most affected region with the highest number of confirmed cases and deaths worldwide. According to the World Health Organization (WHO), about 15.2 billion cases were registered in France as of 8th January 2022. Quest diagnostics and Laboratory Corporation of America has dominated the country’s market for COVID-19 diagnosis. On 28th September 2020, Quest diagnostics performed around 15.7 million diagnostic tests and nearby 3.8 million COVID-19 antibody tests.

Asia pacific is expected to grow at a CAGR 6.7% from 2020 to 2030. China and India are leading countries for revenue generation. China is a major exporter of COVID-19 test kits. Approximately 100 companies from China are exporting kits.

In the U.S., the Biomedical Advanced Research and Development Authority (BARDA), is a federal agency that funds investment of nearly USD 1 billion to support coronavirus vaccine development. Similarly, the U.K.’s National Health Services (NHS) announced GBP 24.6 million in funding as part of rapid research responses.

Global COVID-19 Diagnostics Market By Geography, 2022-2030
  • Largest
  • Fastest

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COVID-19 Diagnostics Market Dynamics

COVID-19 Diagnostics Market Driver

Government initiatives supporting the rapid development of therapies

  • To deal with the COVID-19 crisis, governments across the world have implemented lockdowns. The government invested in the COVID-19 crisis and has been supporting health and life science industries in developing rapid treatment. FDA announced an emergency use authorization (EUA) pathway for the emergency use of therapies that help in the treatment of COVID-19. Several pharmaceuticals, biotechnology, and biopharmaceutical firms granted EUA approval which supports further clinical studies on therapy.

COVID-19 Diagnostics Market Restraint

Lack of knowledge about novel coronavirus challenging effective treatment development

  • A key challenge to achieving successful solutions is the lack of information on the novel coronavirus, such as biological and genetic information, and the duration of immunity in recovered patients, which are important for developing safe and effective treatments. In the future, the industry is expected to face challenges related to production capacity and distribution. Thus, as vaccine development continues, manufacturers are also focusing on increasing production capacity.

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COVID-19 Diagnostics Market Competitive Landscape

The nature of competition in this market is very intense owing to the presence of multiple players. Partnerships with companies that provide free technology and investment to increase the production capacity of potential therapies are key strategies adopted by industry players to strengthen their market position.

COVID-19 Diagnostics Market Top Company Profiles

  • F. Hoffmann-La Roche AG

  • Abbott Laboratories

  • Thermo Fisher Scientific Inc.

  • Becton, Dickinson and Company

  • Siemens Healthineers AG

  • Danaher Corporation

  • QIAGEN N.V.

  • Bio-Rad Laboratories, Inc.

  • Hologic, Inc.

  • Ortho-Clinical Diagnostics, Inc.

  • Cepheid

  • Beckman Coulter, Inc.

  • GenMark Diagnostics, Inc.

  • PerkinElmer, Inc.

  • Sysmex Corporation

  • Seegene Inc.

  • BioFire Diagnostics, LLC

  • BioMérieux SA

  • ThermoGenesis Holdings, Inc.

  • Meridian Bioscience, Inc.

COVID-19 Diagnostics Market Recent Developments

  • In Nov. 2021, Siemens healthcare announced the development of Athellica COVID-19 severity algorithm, which helps to predict the potential progression of disease and life-threatening multi-organ dysfunction in COVID-19 patients.
  • In Dec. 2021, DTPM the trusted laboratory announced that FDA reissued the Tide Laboratories DTPM COVID-19 RT-PCR test emergency use authorization with modification, then test will detect SARS-CoV-2 Omicron variant.
  • In Oct 2021, Pekin Elmer Inc. announced that the U.S. FDA issued emergency authorization of PKAMP respiratory SARS-CoV-2 RT-PCR assay. This assay will be used for qualitative detection and differentiate SARS-CoV-2 from other viruses like Influenza A and Influenza B.

COVID-19 Diagnostics Key Market Trends

  • In vitro diagnostic, companies and governments have focused on developing more reliable tests, which provides faster results at lower costs. By July 2021, more than 500 COVID-19 POC diagnostic tests were available in the market.
  • In Oct 2021, the department of health and human services invested more than USD 560 million to support the development and manufacturing of COVID-19 tests.

COVID-19 Diagnostics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our global COVID-19 Diagnostics (PCR Testing, Antibody Testing) and Therapy (Immunotherapy, Vaccines, Antiviral, Cell-based, Plasma therapy) Market analysis, COVID-19 is highly contagious viral infection caused by severe acute respiratory syndrome. A severe impact of COVID-19 on the world has seen, world health organization (WHO) announced it as global pandemic. Near about 205 therapies and 124 vaccines are in development. Vaccines and antivirals are mostly researched by scientist. PCR, ELISA and LFIA are the technologies widely used for detection of COVID-19 infection. These is major segment that dominated COVID-19 diagnosis and treatment market. By region, Europe dominated global market in 2021 because COVID-19 infection spread rapidly in European countries so demand for diagnosis and treatment has been increased. The biomedical advanced research and development authority in U.S. the federal agency invested funds near about 1 billion to support COVID-19 vaccine development.

Report Metric Details
Market size value in 2023 USD 97.4 billion
Market size value in 2031 USD 50.1 billion
Growth Rate 7.7%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Sample Type
    • Oropharyngeal swabs, nasopharyngeal, swabs, and blood
  • Technology
    • Polymerase chain reaction, Enzyme-linked immunoassay (ELISA), and lateral flow immunoassay
  • End users
    • Laboratories, hospitals, diagnostic centers and clinics, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • F. Hoffmann-La Roche AG

  • Abbott Laboratories

  • Thermo Fisher Scientific Inc.

  • Becton, Dickinson and Company

  • Siemens Healthineers AG

  • Danaher Corporation

  • QIAGEN N.V.

  • Bio-Rad Laboratories, Inc.

  • Hologic, Inc.

  • Ortho-Clinical Diagnostics, Inc.

  • Cepheid

  • Beckman Coulter, Inc.

  • GenMark Diagnostics, Inc.

  • PerkinElmer, Inc.

  • Sysmex Corporation

  • Seegene Inc.

  • BioFire Diagnostics, LLC

  • BioMérieux SA

  • ThermoGenesis Holdings, Inc.

  • Meridian Bioscience, Inc.

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on COVID-19 Diagnostics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on COVID-19 Diagnostics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the COVID-19 Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the COVID-19 Diagnostics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the COVID-19 Diagnostics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the COVID-19 Diagnostics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

COVID-19 Diagnostics Market size was valued at USD 97.4 billion in 2021 and is poised to grow from USD 95.2 billion in 2022 to USD 50.1 billion by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

The nature of competition in this market is very intense owing to the presence of multiple players. Partnerships with companies that provide free technology and investment to increase the production capacity of potential therapies are key strategies adopted by industry players to strengthen their market position. ' F. Hoffmann-La Roche AG ', ' Abbott Laboratories ', ' Thermo Fisher Scientific Inc. ', ' Becton, Dickinson and Company ', ' Siemens Healthineers AG ', ' Danaher Corporation ', ' QIAGEN N.V. ', ' Bio-Rad Laboratories, Inc. ', ' Hologic, Inc. ', ' Ortho-Clinical Diagnostics, Inc. ', ' Cepheid ', ' Beckman Coulter, Inc. ', ' GenMark Diagnostics, Inc. ', ' PerkinElmer, Inc. ', ' Sysmex Corporation ', ' Seegene Inc. ', ' BioFire Diagnostics, LLC ', ' BioMérieux SA ', ' ThermoGenesis Holdings, Inc. ', ' Meridian Bioscience, Inc. '

To deal with the COVID-19 crisis, governments across the world have implemented lockdowns. The government invested in the COVID-19 crisis and has been supporting health and life science industries in developing rapid treatment. FDA announced an emergency use authorization (EUA) pathway for the emergency use of therapies that help in the treatment of COVID-19. Several pharmaceuticals, biotechnology, and biopharmaceutical firms granted EUA approval which supports further clinical studies on therapy.

In vitro diagnostic, companies and governments have focused on developing more reliable tests, which provides faster results at lower costs. By July 2021, more than 500 COVID-19 POC diagnostic tests were available in the market.

The market size of North America is USD 11.97 billion in 2021, thus registering the fastest growth rate. The market in the region is expected to grow at a substantial level because of the sudden rise in COVID-19 cases and deaths in this region, so the demand for diagnosis and treatment increases.

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