Dublin, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The "COVID-19 Diagnostics Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global COVID-19 Diagnostics Market Report
The global COVID-19 diagnostics market by revenue is expected to register a negative CAGR of (9%) during the period 2021-2026.
The RT-PCR testing segment constituted over 75% of the global COVID diagnostics market share. The market is growing because of the outbreak of the coronavirus (SARS CoV-2) pandemic, which has increased the demand for rapid testing across the world. As the number of people suffering from the viral infection increases, the demand for rapid testing, which allows detecting the virus quickly, is growing.
The adoption of a population-wide testing approach, which includes household, individual testing, is one of the trends influencing the demand for covid-19 diagnostics kits. The shift from symptomatic testing to mass testing in developed countries is another major factor affecting the market.
Global Covid-19 Diagnostics Market Segmentation
This research report includes a detailed segmentation by product, end-users, test, technology, geography. In 2020, the consumables segment constituted over 74% of the global COVID-19 diagnostics market share. The demand for consumables, including biomarkers and reagents, including substrates, enzymes, electrolytes, specific proteins, lipids, and point-of-care test kits, is growing as they obtain quick and accurate results for diagnosing diseases, including COVID-19. The need to perform rapid testing to detect coronavirus spread across the world is driving the demand for consumables.
As RT-PCR testing is considered exceptionally reliable, the segment constituted over 75% of the global COVID diagnostics market share. The market is witnessing an increasing uptake of PCR testing to deliver a reliable diagnosis in quick succession. Currently, the reverse transcription-polymerase chain reaction (RT-PCR) is a standard for diagnosing COVID-19.
With the WHO recommending PCR testing as one of the reliable methods for COVID-19 test procedures, countries such as the US, Brazil, Russia, India, Germany, Italy, and Spain drive the demand for PCR kits the virus highly infects these regions. Antigen and antibody testing accounted for a small share of the global COVID-19 diagnostics market. These tests are considered an important factor in mass screening. However, due to a lack of specificity and sensitivity, these tests were not initially used in several countries. As the COVID-19 pandemic continues, vendors came up with advanced antibody and antigen tests, driving the market growth.
The failure of several rapid diagnostics kits to detect the presence of the COVID-19 virus in several countries has led to the development of molecular-based-PCR testing for covid-19 diagnosis. The share of molecular diagnostic test makers has increased drastically, with the WHO declaring RT-PCR as the standard test for Covid-19 diagnosis.
This trend is followed in several developed, developing, and underdeveloped countries, thereby generating a high demand for molecular diagnostic testing. The immunoassay segment accounted for over 24% of the global market share in 2020. These tests are conducted on those with maximum exposure to the covid-19 virus, especially healthcare professionals and medical practitioners.
In most countries, diagnostic laboratories, which include standard and public health laboratories, have played a significant role in detecting covid-19. The demand for standalone laboratories is growing gradually owing to the prevalence of pandemic, epidemic conditions, or the outbreak of unexpected infectious diseases, requiring immediate diagnosis of the diseases for a large population in a shorter time. Hospitals have played a major role in covid-19 testing since its outbreak.
A majority of hospitals have their own in-house laboratories to conduct diagnostic tests, which help them to admit and monitor COVID-19 patients. Hence the segment is witnessing a high demand for COVID-19 testing kits. The demand for COVID-19 diagnostic kits from ambulatory care settings increased in developed countries as these settings accommodated several asymptomatic patients.
KEY QUESTIONS ANSWERED
1. What is the total market value of the COVID-19 Diagnostics Market report?
2. Which test type accounted for the largest COVID-19 diagnostics market share?
3. Will COVID-19 testing demand drive the global point-of-care testing market?
4. What factors could help to bridge the supply-chain gap in the market?
5. Which are the key perspectives that key vendors are leveraging to move businesses to a new growth trajectory?
6. What are some of the potential barriers for the existing players in the market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
7 Introduction
8 Market Opportunities & Trends
9 Market Growth Enablers
10 Market Restraints
11 Market Landscape
12 Product
13 Test
14 Technology
15 End-User
16 Geography
17 APAC
18 North America
19 Europe
20 Middle East And Africa
21 Latin America
22 Competitive Landscape
23 Key Company Profiles
24 Other Prominent Vendors
25 Report Summary
26 Quantitative Summary
27 Appendix
Prominent Vendors
- Abbott
- Siemens Healthineers
- Hoffmann-La Roche
- Thermo Fisher Scientific
- Danaher
- BD
Other Prominent Vendors
- Abingdon Health
- ACCESS BIO
- Assure Tech. (Hangzhou)
- Autobio Diagnostics
- Advaite
- Babson Diagnostics
- Beijing Wantai Biological
- Biomerica
- bioMerieux
- Biopanda Reagents
- Biocerna
- Biocan Diagnostics
- BioMedomics
- Clinical Reference Laboratory
- Cellex
- The Center for Chest Diseases and Prevention (CDC)
- CTK Biotech
- DiaSorin
- Diazyme Laboratories
- Erba Mannheim
- Edinburgh Genetics
- Eurofins Scientific
- GenScript
- Healgen Scientific
- Hangzhou AllTest Biotech
- Hangzhou Biotest Biotech
- Jiangsu Well Biotech
- Kabla Diagnostics
- Luminex
- Meridian Bioscience
- Megna Health
- Microgen
- MP Biomedicals
- Nova Tech Immunodiagnostica
- NOWDiagnostics
- Quotient
- QIAGEN
- Quidel
- Sekisui Diagnostics
- Sinocare
- SureScreen Diagnostics
- Salofy Oy
- Shenzhen New Industries Biomedical Engineering (SNIBE)
- Sysmex
- SEASUN BIOMATERIALS
- Vibrant America
- Warrior Diagnostics
- Xiamen Biotime Biotechnology
- Zuhai Livzon Diagnostic
For more information about this report visit https://www.researchandmarkets.com/r/mlmos0
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