COVID-19 Diagnostics Market to Witness Huge Growth from 2020-2030 - Seegene, F. Hoffmann-La Roche, Altona Diagnostics, SD BIOSENSOR

COVID-19 has been one of the worst pandemics faced by humans since the Flu pandemic in 1918, which claimed the lives of 20-50 million individuals globally. The COVID-19 has brought about massive destruction of the global economy and an unprecedented loss of human life. To control the spread of the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) worldwide, countries & governments have been adopting extensive testing strategies. The need for testing is more than ever now, as the COVID-19 to date has no therapeutic solution, including vaccines or drugs. The only possible way to curb the spread of the infection is to prevent further spread of the virus, and testing for COVID-19 cases is the need of the hour, as infected cases of COVID-19 surge past 1.98 million.

Major Key Players of the COVID-19 Diagnostics Market are:
Seegene Inc., F. Hoffmann-La Roche Ltd, altona Diagnostics GmbH, SD BIOSENSOR, Abbott, BIOMEDOMICS INC., Bio-Rad Laboratories, Inc., VivaChek Biotech (Hangzhou) Co., Ltd., Sensing Self, PTE. Ltd, Thermo Fisher Scientific, PerkinElmer Inc., among others.

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As the number of COVID-19 cases are surging across the globe, scientists have been mobilizing every resource to confront, delay, and stop its spread. The importance of diagnostic testing for COVID-19 is currently of colossal importance to help treat, isolate, or hospitalize infected people. Aggressive testing strategies are being adopted by governments around the globe to diminish the effect of this pandemic. For instance, South Korea, through its stringent diagnostic testing protocols, has managed to limit the spread of the virus, without following any aggressive lockdown strategies, unlike other countries such as India, Italy, U.S., the U.K., and others. Countries around the globe are adopting the South Korean model of mass testing for the virus to reduce the number of new cases and ultimately stop the spread of the virus.

Continuous research on SARS-CoV-2 have presented several data regarding the virus, including its impact on the global economy. However, to date controlling the spread of the virus to a grassroot level seems extremely difficult in the near future. However, on a national level, a country's ability to test as many people as possible is key to containing the outbreak and finding out the true fatality rate of the disease.

Major Types of COVID-19 Diagnostics Market covered are:
Molecular Assays
Serologic Immunoassays and Ancillary Diagnostic Tests

Major Applications of COVID-19 Diagnostics Market covered are:
Hospitals
Public Health Labs, and Private or Commercial Labs

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To keep up to the demand for testing kits used for the detection of COVID-19, pharmaceutical, and biotech companies have substantially increased production capabilities. Moreover, these companies, along with research & medical institutes, and researchers & scientists worldwide, are inventing novel technologies to speed up the testing processess further. Government bodies across the globe have also taken several initiatives to fast-track the development of such products by providing necessary grants, permissions, clearances & approvals. For instance, on March 27, 2020, the U.S. Food and Drug Administration (FDA) granted "emergency use authorization" approval to Abbott's ID NOW COVID-19 test. The ID NOW COVID-19 test provides positive results in as little as five minutes and negative results in 13 minutes and can be used for point-of-care settings.

Currently, the two major testing procedures for SARS-CoV-2 are the molecular assay and serology immunoassay technique. However, optimal use of few ancillary diagnostic practices like diagnostic imaging, biomarkers, and other non-microbiological tests have also been evolving in the testing of COVID-19, in recent times. Molecular assay technique, which includes both laboratory-based molecular testing and point-of-care molecular diagnostics, remains the front runner in the COVID-19 diagnostics market. These molecular diagnostic techniques make use of the Real-Time Reverse Transcriptase Polymerase Chain Reaction (RT-PCR).

Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 COVID-19 Diagnostics Market Size
2.2 COVID-19 Diagnostics Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 COVID-19 Diagnostics Market Size by Manufacturers
3.2 COVID-19 Diagnostics Key Players Head office and Area Served
3.3 Key Players COVID-19 Diagnostics Product/Solution/Service
3.4 Date of Enter into COVID-19 Diagnostics Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global COVID-19 Diagnostics Sales by Product
4.2 Global COVID-19 Diagnostics Revenue by Product
4.3 COVID-19 Diagnostics Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global COVID-19 Diagnostics Breakdown Data by End User

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In the end, COVID-19 Diagnostics industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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