Virus Diagnostics Market will reach at $3.4 billion by 2032,Booming Worldwide With Leading Key Players -BD, Princeton BioMeditech Corporation, Roche, Abbot (Alere), Analytik Jena, Quidel, Sekisui Diagnostics, Meridian Bioscience, Thermo Fisher Scientific,

The global COVID-19 diagnostics market size was valued at USD 98.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.34% from 2022 to 2032. The market is driven by the rising government initiatives targeted toward the implementation of mass testing. On 1st September 2020, Hong Kong began voluntary mass testing with the help of healthcare personnel from mainland China. Around 1.78 million Hong Kong citizens were tested as of 15th September 2020. Moreover, despite the several criticisms over mass testing, on 11th September 2020, the British government announced its plan for mass coronavirus testing in the U.K. Additionally, increased traction gained by mobile testing market space is expected to open new avenues for market expansion.

Some of the Major Key players profiled in the study are BD, Princeton BioMeditech Corporation, Roche, Abbot (Alere), Analytik Jena, Quidel, Sekisui Diagnostics, Meridian Bioscience, Thermo Fisher Scientific, BioMerieux, Response Biomedical, SA Scientific, DiaSorin (Focus Diagnostics)

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Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Virus Diagnostics market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market.

Global Virus Diagnostics Market Segmentation:

Virus Diagnostics Segmentation by Type:

Influenza, RSV, Measles, Rubella, HIV/HPV, Others.

Virus Diagnostics Segmentation by Application:

Hospitals, POCT, Others

Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Global Virus Diagnostics market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Virus Diagnostics market, the years measured and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.

Manufacture by region: This Global Virus Diagnostics report offers data on imports and exports, sales, production and key companies in all studied regional markets

Complex and pure reagents, such as probes, enzymes, and primers, are crucial in conducting tests in clinical laboratories. A number of factors like a sudden increase in demand, export bans, and stockpiling have led to the shortage of these reagents. Additionally, these reagents are manufactured by limited companies, therefore leading to a shortage of supply due to insufficient production capacity. The inadequate demand-to-supply ratio of reagents worldwide is anticipated to negatively impact the overall diagnosis rate and hinder the growth of the market for Covid-19 diagnostics.

The market for Covid-19 diagnostics is divided into two segments based on technology: PCR and immunoassay. Because of the rising need for coronavirus patient diagnosis, the PCR segment is likely to rise rapidly in the near future. Furthermore, PCR is regarded as the gold standard for detecting COVID-19 infections. The immunoassay segment is expected to increase at the fastest rate throughout the forecast period, due to a rise in the need for quick serological testing for disease diagnosis. A plethora of serological kits is being developed to confirm Sars Cov 2 infections.

The sudden rise in the number of COVID-19 cases has increased demand for R&D in the diagnostics process, a rise in government funding, and diagnostics activities which fueled the market growth. With the increasing number of COVID-19 cases in 2020 and 2021, increased focus of government to prevent further spread of the disease, lack of therapeutic treatment and vaccines, and a rise in demand for timely diagnostics were observed which expanded the market for COVID-19 diagnostics. Key players shifted their focus on developing time-efficient and accurate diagnostics kits for detecting COVID-19. For instance, in December 2021 F-Hoffman LaRoche Ltd. announced that it would launch SARS-CoV 2 and Flu A/B antigen rapid test kit in the market with a CE mark. Since the start of the pandemic, FDA approved around 88 antibody-based tests and 256 molecular tests accounting for the total approval of over 350 diagnostics tests.

Mode Insights
The non-POC (centralized) testing segment dominated the market and accounted for revenue share of 64.5% in 2021. Currently, most of the COVID-19 tests are carried out in the laboratory environment, thus centralized or laboratory testing is currently the key testing mode in the market. Incorporation of automated high throughput systems facilitates efficient processing of a high number of samples at a given point of time without hampering the quality and integrity of the result. These factors are making centralized testing a critical element in a viable COVID-19-response strategy to circumvent the spread.

As a result, hospitals have centralized their lab operations into one core facility, rather than sending specimens to multiple places. Several companies are launching products suitable for lab-based COVID-testing, including Quest Diagnostics and Perkin Elmer. In September 2020, Eurofins Diatherix launched the Flu Plus test that can be used across multiple end-use settings, such as hospitals, physicians' offices, nursing homes, and reference labs nationwide for COVID-19 detection.

The development of point-of-care technology for the detection of COVID-19 infection is aimed at reducing the assay duration and scaling up the testing capacity to prevent further transmission of the disease. In September 2020, a Cambridge hospital demonstrated the combined use of antibody testing and rapid point-of-care nucleic acid to improve patient outcomes. This approach can be particularly useful in low resource settings as centralized testing capabilities are scarce.

Regional Insights
North America dominated the Covid-19 diagnostics market and accounted for a revenue share of 33.5% in 2021. This can be attributed to the rapid increase in COVID-19 cases and the local presence of key players engaged in the development and manufacturing of diagnostic tests incorporating various technologies. As a result of the pandemic, regulatory bodies such as the U.S. FDA and Health Canada are granting Emergency Use Authorizations (EUA) to COVID-19 test kits in order to boost testing. Such factors are anticipated to fuel regional market growth.

The U.S. has emerged as a key contributor to the regional revenue, primarily attributed to the effective scaling-up of COVID-19 tests by the local companies. Additionally, the presence of key laboratories, such as Quest Diagnostics and Laboratory Corporation of America (LabCorp), has strengthened the country's market for COVID-19 diagnostics. As of September 28, 2020, Quest Diagnostics performed around 15.7 million COVID-19 molecular diagnostic tests and nearly 3.8 million COVID-19 antibody tests. Such initiatives are anticipated to enable large-scale testing in the country.

Asia Pacific is estimated to emerge as a lucrative regional market and is projected to witness a CAGR of 6.7% from 2020 to 2030. China and India made significant contributions to the revenue generated by this region. China is a major exporter of COVID-19 test kits; more than 100 companies from China are exporting these kits.

Market Segmentation: By Geographical Analysis

The Middle East and Africa (GCC Countries and Egypt)
North America (the United States, Mexico, and Canada)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

The cost analysis of the Global Virus Diagnostics Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

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Key questions answered in the report include:

who are the key market players in the Virus Diagnostics Market?
Which are the major regions for dissimilar trades that are expected to eyewitness astonishing growth for the Virus Diagnostics Market?
What are the regional growth trends and the leading revenue-generating regions for the Virus Diagnostics Market?
What will be the market size and the growth rate by the end of the forecast period?
What are the key Virus Diagnostics Market trends impacting the growth of the market?
What are the major Product Types of Virus Diagnostics?
What are the major applications of Virus Diagnostics?
Which Virus Diagnostics Services technologies will top the market in next 7 years?
Table of Contents

Global Virus Diagnostics Market Research Report 2022 - 2029

Chapter 1 Virus Diagnostics Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Virus Diagnostics Market Forecast

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