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COVID-19 Diagnostics Market Would Rocket up to CAGR of 8.00% in the forecast of 2029

The premium COVID-19 Diagnostics market report encompasses all the vital parameters mentioned above hence it can be used for the business. This market research report is all-inclusive and encompasses various parameters of the Healthcare industry. These parameters can be listed as market definition, currency and pricing, market segmentation, market overview, premium insights, key insights and company profile of the key market players. Market research report comprises of the major market insights that takes business to the next level of success and growth. A wide-reaching COVID-19 Diagnostics report is a perfect guide to gain an information or key data about market, emerging trends, product usage, motivating factors for customers and competitors, brand positioning, and customer behaviour.

COVID-19 Diagnostics market research report provides across-the-board analysis of the market structure along with evaluations of the various segments and sub-segments of the market. With the precise and high-tech information presented in this report, businesses can know about the types of consumers, consumer’s demands and preferences, their perspectives about the product, their buying intentions, their response to particular product, and their varying tastes about the specific product already existing in the market. The report helps define commerce strategies to the businesses of small, medium as well as large size. For in depth understanding of market and competitive landscape, the universal COVID-19 Diagnostics business report serves a lot of parameters and detailed data.

Data Bridge Market Research analyses that the COVID-19 diagnostics market which was USD 46.76 billion in 2021, is expected to reach USD 86.55 billion by 2029, at a CAGR of 8.00% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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The novel coronavirus is a single-stranded RNA coronavirus that resembles existing SARS-CoV. As this spreads by close contact with an infected individual and is largely spread through respiratory droplets produced by coughing and sneezing. Coronavirus, which is now a global epidemic, was first discovered in the Chinese area of Wuhan. It is also known as coronavirus illness or COVID-19. RT-PCR, isothermal nucleic acid amplification, antibody detection, and other technologies are utilised in testing kits for the COVID-19 test, which is used to identify the SARS-CoV-2 virus. Serological tests are employed for population surveillance, diagnosis, and the identification of antibodies.

Market KeyPlayers Covered in This Report:

QIAGEN (Germany), F.Hoffmann-La Roche Ltd (Switzerland), Seegene Inc. (South Korea), SolGent Co. Ltd (South Korea), Curetis (Germany), KURBO INDUSTRIES LTD. (Japan), Devex (U.S.), Thermo Fisher Scientific Inc (U.S.), Mylab Discovery Solutions Pvt. Ltd (India), Abbott (U.S.), Getein Biotech, Inc (China), Biomaxima SA (Poland), CTK Biotech, Inc (U.S.), CDC (U.S.), BGI (China), Luminex Corporation (U.S.), Avellino.com (U.S.), PerkinElmer Inc (U.S.), Danaher (U.S.), Thermo Fisher Scientific Inc. (U.S.)

Global COVID-19 Diagnostics Market Country Level Analysis

  • U.S., Canada and Mexico in North America
  • Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
  • China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
  • Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA)
  • Brazil, Argentina and Rest of South America as part of South America.

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Drivers

•        Need for test kits in hospitals is a driver

The need for coronavirus test kits has expanded along with the coronavirus’s widespread. With the aid of test kits, coronavirus identification has become more crucial than ever in order to control the infection’s spread and boost the market expansion. Only specialised labs that are licenced to conduct the tests included in this kit, which are of the serology and molecular types. As the kits are based on techniques including real-time polymerase chain reactions, IgM ELISA tests, and microneutralization assays, samples are taken from the nose, sputum test, blood sample, throat swab, and nasal aspirate for testing. The demand for the industry is growing as a result of the global coronavirus outbreak.  As the number of patients in hospitals is increasing rapidly, the need for test kits in hospitals to diagnose the patients with symptoms is also increasing which is further drive the market growth.

•        Technological advancements in COVID-19 rapid testing

Vendors created a variety of innovative rapid testing kits, including cups, cards, and smart test kits. Saliva samples were employed in painless quick testing kits. Additionally, test kits with quicker findings were released on the market. Rapid testing is preferred over other COVID-19 testing kits as a result of these developments. For instance, Meril Diagnostics, an international medical firm with operations in India, produces the non-prescription CoviFind COVID-19 Rapid Antigen Self-Test, which is available and has received approval from the Indian Council of Medical Research (ICMR) for routine usage in India. The introduction of novel and innovative diagnostic tests, such as immunoenzymatic serological tests, rapid antigen tests, and RT PCR-based molecular tests, is expected to drive industry demand.

Opportunities

  • Rising number of COVID-19 patients

With the rapidly increasing number of COVID-19 patients worldwide, healthcare professionals require a consistent supply of diagnostic kits, which is expected to have a significant impact on the COVID-19 diagnostics market from 2022 to 2029. The growing number of suspected cases and the need to ensure that test results are correct which has resulted in an increase in demand for more kits, as well as increased safety concerns and the need to diagnose and isolate infected persons, which are expected to boost market growth.

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Recent developments

  • In July 2021, Abbott launched the PanbioTM COVID-19 antigen self-test in India to expand its quick diagnostics offering to meet screening requirements at home, work, and clinics.
  • In March 2021 Roche Diagnostics announced the permission for Emergency Use Authorization (EUA) from the United States Food and Drug Administration (FDA) for the COVID-19 rapid antigen test, which is intended for use by healthcare professionals in point-of-care situations with COVID-19 patients.

Global COVID-19 Diagnostics Market Scope

The COVID-19 diagnostics market is segmented on the basis of test type, product, technology, sample type, setting and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Test Type

  • Molecular Assays
  • Serologic Immunoassays
  • Ancillary Diagnostic Tests

 Product

  • Polymerase Chain Reaction Kits
  • Point-of-care (POC) tests Kits
  • Immunoassay
  • Instruments
  • Reagent and kits

 Technology

  • Polymerase Chain Reaction (PCR)
  • Enzyme Linked Immunosorbent Assay (ELISA)
  • Lateral Flow Immunoassay (LFIA)
  • Others

Sample Type

  • Oropharyngeal and Nasopharyngeal Swabs
  • Nasal Swabs
  • Blood
  • Others

 Setting

  • Lab based
  • Point of Care

 End User

  • Hospitals
  • Public Health Labs
  • Private or Commercial Labs
  • Urgent care clinics
  • Physician Labs

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Highlights of TOC:

  • Chapter 1: Market overview
  • Chapter 2: COVID-19 Diagnostics market analysis
  • Chapter 3: Regional analysis of the Induction COVID-19 Diagnostics industry
  • Chapter 4: Market segmentation based on types and applications
  • Chapter 5: Revenue analysis based on types and applications
  • Chapter 6: Market share
  • Chapter 7: Competitive Landscape
  • Chapter 8: Drivers, Restraints, Challenges, and Opportunities
  • Chapter 9: Gross Margin and Price Analysis

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