US COVID-19 Diagnostics Market Trends, Size, Share and Forecast 2023-2029

The US COVID-19 diagnostics industry will see the considerable decline of 24.6% during the forecast period. The US is anticipated to hold considerable market for COVID-19 diagnostic owing to rapid increase in the number of diagnostic tests in the country coupled with growing number of cases on daily basis. However, post 2020, the demand for COVID-19 diagnostics is expected to decrease in the US. The new product launches are among the core activities of this market growth. Several biotech companies are making efforts to make testing kits and other instruments to meet the growing demand of these products. Some of the instance of new diagnostic test & technology includes:

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In July 2020, Bio-Rad Laboratories, Inc., a life science research and clinical diagnostic products provider company announced to launch a new blood-based immunoassay kit to identify antibodies to the coronavirus SARS-CoV-2. The preliminary performance of the assay has been established and the kit is now undergoing clinical evaluation in several hospitals to further confirm clinical performance. Initial data collected on more than 700 samples has demonstrated specificity above 99%. The company seeks to use the FDA's EUA process to expedite the availability of the kit in the US and across the globe.

In July 2020, Becton, Dickinson and Co., a medical technology company, announced approval of EUA from US FDA for a rapid, point-of-care, SARS-CoV-2 diagnostic test for use with its available BD Veritor Plus System. The SARS-COV-2 diagnostic test assay is a portable instrument that delivers results in only 15 minutes.

In May 2020, ACON Laboratories, Inc., a medical device manufacturer had announced the availability of its SARS-COV-2 IgG/IgM Rapid Test. SARS-COV-2 IgG/IgM test is a lateral flow chromatographic immunoassay for the qualitative detection of antibodies (IgG and IgM) to SARS-CoV-2 (COVID-19) in human serum, plasma, or whole blood. The test is intended as an aid in identifying individuals with an adaptive response to SARS-CoV-2, indicating a recent or earlier infection. SARS-COV-2 IgG/IgM Rapid test is CE marked and is commercialized across the globe.

In May 2020, AdvancedDx Biological Laboratories USA, Inc., a virologic diagnostic solutions company, had announced its plan to bring one million molecular, serological and genotypical COVID-19 tests to the US market over the next 90 days. The company had received confirmation from the FDA for the EUA application. The company will distribute its validated UltraGene Combo2Screen SARS-CoV-2 assay for clinical use.

Key questions addressed by the report

What is the market growth rate during the forecast period?
Which segment dominates the market in base year?
Which segment will project fastest growth in the market during the forecast period?
How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline

o Deviation from pre-COVID

o Most affected segment

o Recommendations

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

US COVID-19 Diagnostics Market - Segmentation

By Type

Instruments
Reagents & Kits
Laboratory Testing Services

By Technology Type

PCR Test
Antigen Test
o Chromatographic Immunoassay

o Fluorescent Immunoassay

o Chemiluminescent Immunoassay

Serology Test
o Enzyme-Linked Immunosorbent Assay (ELISA)

o Neutralization

o Chemiluminescent Immunoassay

Rapid/ PoC Test

By Sample Type

Oropharyngeal & Nasopharyngeal Swabs
Blood
Urine
Saliva
Others (Sperm)

By End-Users

Laboratories
Hospitals
Diagnostic Centers & Clinics
Research Institutes

A full report of US COVID-19 Diagnostics Market is available at: https://www.omrglobal.com/industry-reports/us-covid-19-diagnostics-market

Company Profiles

Abbott Laboratories Inc.
Beckman Coulter, Inc.
Cellex Inc.
Cepheid Inc.
Chembio Diagnostics Systems Inc.
Epitope Diagnostics, Inc.
Hologic Inc.
Laboratory Corp. of America Holdings
Luminex Corp.
PerkinElmer, Inc.
Quidel Corp.
Thermo Fisher Scientific, Inc.

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