COVID-19 Diagnostics Market New Opportunities, Segmentation Details With Financial Facts By 2026

COVID-19 Diagnostics Market

In 2019, a new coronavirus strain was identified to have caused a disease outbreak originating in Wuhan, China. The virus has now been categorized as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and referred to as coronavirus disease 2019 (COVID-19). However, due to the inability to contain the spread of the outbreak, in March 2020, the World Health Organization (WHO) declared the COVID-19 as a pandemic.

The Major Players Covered in this Report:
Hologic Inc., Thermo Fisher Scientific, Inc., Hoffman-La Roche Ltd., Perkin Elmer, Inc., Laboratory Corporation of America Holdings (LabCorp), bioMérieux SA, Danaher, Mylab Discovery Solutions Pvt. Ltd., Neuberg Diagnostics, Quest Diagnostics, Abbott 

The global COVID-19 diagnostics market was valued at USD 84500 million in 2020 and is expected to grow at 3.2% CAGR during the forecast period.

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By Product- Instruments, Reagents & Kits, Services,

By Sample Type- Nasopharyngeal (NP) swabs, Oropharyngeal (OP) swabs, Nasal swabs, Blood, Others,

By Mode of Testing- Molecular Testing(PCR), Antigen-based Testing, Serology Testing (Antibody), Others,

By End-Users- Laboratories, Hospitals, Diagnostic Centers and Clinics, Others

Mass Testing of COVID-19 Suspected Patients All over the Globe Generates a Never-Ending Demand in the Market

The global outbreak and spread of COVID-19 have remained unchecked, and authorities, researchers, and market leaders have been actively seeking ways to manage the disease. In the meanwhile, as more and more people are exposed to the virus, there have been an innumerable number of diagnostic tests carried out to confirm COVID infection of suspected patients daily.

For instance, as of 28th December 2020, according to the WHO reports, there have been 79.5 million confirmed cases of COVID-19 patients in total, where, 1,757,947 deaths are accounted for. Thus, quite naturally, owing to such a great number of confirmed COVID-19 positive patients, there has been extensive usage of diagnostic testing kits. Thus, owing to such high usage the market is anticipated to demonstrate an exponential growth rate.

Regional Analysis For COVID-19 Diagnostics Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the COVID-19 Diagnostics are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the COVID-19 Diagnostics in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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