Global coronavirus diagnostics market was valued at USD73538.02 million in 2020 and is expected to reach USD15579.56 million by 2026.The global coronavirus diagnostics market is driven by surging incidences of this disease across different parts of the globe. The market is segmented based on type of test, user, full test time, end user, company and region. Based on type of test, market can be bifurcated into molecular and serological tests. The molecular type of test segment is expected to dominate the market during forecast period. In this testing procedure, a sample from the back of the throat is taken and sent for testing. The sample undergoes a PCR test to find out the presence of virus genetic material. The PCR confirms the diagnosis of COVID-19 if it finds two genes of SARS-COV-2 virus.
The ongoing coronavirus disease is caused due to SARS-COV-2 virus and generally spreads from animals to humans and then from humans to humans. The disease usually spreads from saliva droplets of the infected person or the nose discharges of the infected person when they cough or sneeze. First case of the disease was reported in December 2019 in Wuhan, China and since then, it has spread to various parts of the world infecting millions. As of 20th May 2021, the total number of coronavirus cases crossed 165 million, globally, of which around 144 million had recovered and over 3 million people had died.
Europe and Asia-Pacific are expected to dominate the market during the forecast period owing to the presence of many research laboratories and pharmaceutical & biotechnology companies across the regions. Major players operating in the coronavirus diagnostics market include F. Hoffmann-La Roche Ltd, Abbott Laboratories, Danaher Corporation, Siemens AG, Thermo Fisher Scientific Inc., Mylab Discovery Solutions Pvt. Ltd., Bio-Rad Laboratories, Inc., BioMerieux SA, GSK Biologicals SA, Altona Diagnostics GmbH, Seegene Inc., PerkinElmer, Inc., Quest Diagnostics Inc., Hologic, Inc., Quidel Corporation, and others.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022–2026
Objective of the Study
- To analyze the historical growth in the market size of the global coronavirus diagnostics market from 2016 to 2020.
- To estimate and forecast the market size of the global coronavirus diagnostics market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global coronavirus diagnostics market based on type of test, user, full test time, end user, company and regional distribution.
- To identify dominant regions and segments in the global coronavirus diagnostics market.
- To identify drivers and challenges for global coronavirus diagnostics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global coronavirus diagnostics market.
- To identify and analyze the profile of leading players operating in global coronavirus diagnostics market.
- To identify key sustainable strategies adopted by market players in global coronavirus diagnostics market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of diagnostic players operating across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the market players which could not be identified due to the limitations of secondary research.
TechSci Research calculated the market size of
Key Target Audience
- Coronavirus diagnostic kits manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to coronavirus diagnostics
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders, besides allowing them in strategizing investments and capitalizing on market opportunities.
