COVID-19 Diagnostics Market Regional Analysis

COVID-19 Diagnostics Market size was valued at USD 102.53 Billion in 2023 and is poised to grow from USD 110.42 Billion in 2024 to USD 199.89 Billion by 2032, growing at a CAGR of 7.70% during the forecast period (2025-2032).

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.