Global COVID-19 Diagnostics Market

Global COVID-19 Diagnostics Market Size, Share, Growth Analysis, By Sample Type(Oropharyngeal swabs, nasopharyngeal), By Technology(Polymerase chain reaction, Enzyme-linked immunoassay (ELISA)), By End users(Laboratories, hospitals) - Industry Forecast 2024-2031

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

Global COVID-19 Diagnostics Market News

  • 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.
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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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