COVID-19 Diagnostics Market 2021 Growth Drivers, Regional Outlook, Competitive Strategies and Forecast up to 2028


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Shibuya Data Count

Jan 05, 2022, 01:48 EST


Shibuya-ku, Tokyo, Japan, Japan, Jan 05, 2022, 01:48 /Comserve / -- According to Research Dive analysis, the COVID-19 diagnostic market is estimated to generate a revenue of $65,750.1 million by 2028, increasing from $49,000.90 million in 2020, at a healthy CAGR of 3.5%.

According to Research Dive analysis, the COVID-19 diagnostic market is estimated to generate a revenue of $65,750.1 million by 2028, increasing from $49,000.90 million in 2020, at a healthy CAGR of 3.5%.

Impact Analysis of COVID-19 on the COVID-19 Diagnostic Market:

The COVID-19 diagnostic market experienced an accelerating growth rate during the Covid-19 pandemic. Due to continuous rise in the corona virus infection cases, the demand and supply for testing kits, equipments, reagents and analyzers have increased due to which the diagnostic market has expanded. Also, initiating mass testing drive by the government of various countries for their people have also increased the market revenue. Apart from this, many COVID-19 testing laboratories have been established to cater the increasing corona virus cases which has also impacted the market growth in the pandemic period.

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COVID-19 Diagnostic Market Analysis:

Increasing number of corona virus infection cases, across the world is expected to raise the market for COVID-19 Diagnostics in the forecast timeframe. The coronavirus infection has brought many severe respiratory diseases which has taken many lives so far. Thus, timely diagnoses and proper treatment of the infected people have become the need of the hour. Thus, the demand for the COVID-19 diagnostic is likely to surge in the next few years. Also, government initiatives to conduct mass testing in their areas will impede the growth of the market, further.

However, lack of knowledge about the importance of diagnosis in the rural region of the countries is expected to hinder the market of COVID-19 diagnostics in the future. Apart from this, a gradual decline in the corona virus cases is further expected to decrease the market revenue.

Due to high demand for rapid diagnosis of COVID-19 infection in the patients, the manufacturing companies have got a tremendous opportunity to explore their research and development facility and develop rapid test kits that can provide accurate test results in a very less time frame. Also, bulk purchasing of the diagnostic kits by the healthcare sector have pushed the manufacturing units of the companies to produce more number of kits.

Based on products & services, the COVID-19 diagnostic market is segmented into instruments, reagents & kits and services. The reagents & kits sub-segment shall have the fastest market growth and it is anticipated to generate a revenue of $ 23,435.90 million by 2028.

Based on sample type, the market has been sub-segmented into nasopharyngeal swabs, oropharyngeal swabs, nasal swabs, blood and others. The nasopharyngeal swabs sub-segment is expected to garner $ 26,485.50 million in 2028.

Based on the test type, the market has been divided into molecular, antigen-based, antibody-based, and others. The molecular test sub-segment is predicted to be growing significantly and it is expected to cross $ 38,025.50 million by 2028.

Based on mode, the market has been divided into point-of-care and non point-of-care. The non point-of-care of the market is predicted to have a rapid growth and it is expected to surpass $27,223.90 million by 2028.

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Based on end-user, the market has been divided into laboratories, hospitals, diagnostic centers & clinics and others. The diagnostic centers and clinics of the market is predicted to have a rapid growth and it is expected to surpass $ 16,047.30 million by 2028.

Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The share of Asia-Pacific COVID-19 diagnostic market is anticipated to grow at a CAGR of 4.60% by registering a revenue of $17,949.80 million by 2028.
The companies involved in the COVID-19 diagnostic market are Hologic Inc., Veredus Laboratories, ADT Biotech, Mylab Discovery Solutions Pvt. Ltd., Neuberg Diagnostics, Luminex Corporation, Quidel Corporation, and Quest Diagnostics.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


For more information, please contact:

Lauren Brown

Shibuya Data Count
Email: sales@sdki.jp
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