Covid-19 Diagnostics Market Expected to Reach $17,203.38 Million by 2022

Increase in the number of covid-19 patients across the globe, immense need of rapid diagnostics, and unavailability of specific medicine or vaccine are the major factors driving the growth of the global covid-19 diagnostics market

Allied Market Research published a report, titled,"Covid-19 Diagnostics Market by Product (PCR Kits, POC Kits and Immunoassay), Technology (Molecular and Immunoassay), and End User (Hospitals, Physician's office & urgent care clinics and Diagnostic Labs): Global Opportunity Analysis and Industry Forecast, 2020–2022."According to the report, the global covid-19 diagnostics industry was pegged at $7.1 million in the first quarter of 2020, and is expected to hit $445.4 million by the fourth quarter of 2020.

Increase in the number of covid-19 patients across the globe, immense need of rapid diagnostics, and unavailability of specific medicine or vaccine are the major factors driving the growth of the global covid-19 diagnostics market. On the other hand, lack of awareness among developing countries regarding necessary precautions and dearth of diagnostic kits and medical professionals impede the growth to some extent. However, by developing advanced diagnostic kits, the leading manufacturers are expected to be levied with multiple opportunities in the near future.

Request Sample Report at https://www.alliedmarketresearch.com/request-sample/6479

Covid-19 Impact-

• Though several trials for boosters and potential treatments are underway, there is currently no cure. And, unavailability of specific medicine or vaccine has highlighted the importance of covid-19 diagnostic tools in more than one way.

• With researchers coming together to break the testing gridlock, diagnosing checks have now started pinpointing populations who should be prioritized for immunization, which in turn, has impacted the global market significantly.

The molecular segment to retain its dominance by the fourth quarter of 2020-

Based on technology, the report segments the global covid-19 diagnostics market into molecular and immune assay. The molecular segment appeared as the major revenue holder in the first quarter of 2020, and is expected to lead the trail by the fourth quarter of 2020. This is attributed to the fact that molecular assays are being highly used for the diagnosis of covid-19. Molecular assays are also considered as the gold standard for detecting new viral infections.

The diagnostic labs segment to rule the roost-

Based on end-user, the research classifies the global covid-19 diagnostics market into hospitals, physician offices & urgent care clinics, and diagnostic labs. The diagnostic labs segment contributed to more than two-thirds of the global market share in the first quarter of 2020, and is anticipated to retain its dominance till the fourth quarter of 2020.

Europe to dominate in terms of revenue, North America to grow at a significant rate by the fourth quarter-

Based on geography, Europe accounted for more than half of the global covid-19 diagnostics market in the first quarter of 2020, and is projected to maintain its leadership status by the fourth quarter of the year, owing to the presence of huge patient population in the province. The report is also analyzed across Asia-Pacific, Europe, and North America.

Frontrunners in the industry-

• Seegene Inc.
• Cepheid
• Robert Bosch GmbH
• MylabLifesolutions Pvt. Ltd.
• Cellex Inc.
• Thermo Fisher Scientific, Inc.
• Genematrix
• F. Hoffmann-La Roche AG
• SureScreen Diagnostics Ltd.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6479

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.