New York, NY -- (SBWire) -- 07/16/2020 --Excerpts from Market Industry Reports (MIR) report titled "COVID-19 Diagnostics" predict the global COVID-19 diagnostics market to clock several billion by the end of the year 2020.
Since the onset of the COVID-19 pandemic a few months ago, the global COVID-19 diagnostics market is witnessing unparalleled growth in terms of revenue. The COVID-19 pandemic has been a life-altering event in human history as it has already claimed more than 207,000 lives and infected more than 2.97 million individuals globally. Since the COVID-19 has no therapeutic or preventive solution till date, testing is the only possible way currently to curb further spread of this infection. Companies have not only ramped up manufacturing of existing COVID-19 diagnostic products but are also conducting active research to introduce novel testing procedures, to further improve the efficiency & accuracy of these tests.
Major Key Players of the COVID-19 Diagnostics Market are:
Seegene Inc., F. Hoffmann-La Roche Ltd, altona Diagnostics GmbH, SD BIOSENSOR, Abbott, BIOMEDOMICS INC., Bio-Rad Laboratories, Inc., VivaChek Biotech (Hangzhou) Co., Ltd., Sensing Self, PTE. Ltd, Thermo Fisher Scientific, PerkinElmer Inc., among others.
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The market for COVID-19 diagnostics is anticipated to be skyrocket in the coming months, as countries around the globe plan to amplify the number of tests being conducted significantly. The rapid spread of the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) can be primarily attributed to the growth of the global COVID-19 diagnostics market. The principal objective behind testing is to prevent further transmission of the virus and isolate individuals suffering from the infection. If testing, isolation, quarantining & social distancing norms are followed at an acceptable level, it would eventually segregate the infected population and restrict the further proliferation of the disease, till an effective therapeutic or preventive drug/vaccine is introduced. The diagnostic tests used to detect the COVID-19 includes molecular assays, serologic immunoassays and ancillary diagnostic tests. The molecular assay technique, which includes the RT-PCR-based assays, remains the cornerstone in COVID-19 diagnostic testing, owing to its high accuracy. However, serologic immunoassays which include rapid testing kits to detect antigens or antibodies, are gradually witnessing a surge in adoption. The growth of serological immunoassays can be attributed to the simple design of the kits which permits it to be mass-produced and make it widely available for community testing, or door-to-door testing. Moreover, the cost-effectiveness of these kits as compared to RT-PCR-based assays, are also playing a pivotal role in bolstering the growth of the serological immunoassay technique.
Major Test Types of COVID-19 Diagnostics Market covered are:
Molecular Assays
Serologic Immunoassays and Ancillary Diagnostic Tests
Major Applications of COVID-19 Diagnostics Market covered are:
Hospitals
Public Health Labs, and Private or Commercial Labs
Research objectives:-
– To study and analyze the global COVID-19 Diagnostics consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the COVID-19 Diagnostics market by identifying its various sub-segments.
– Focuses on the key global COVID-19 Diagnostics manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the COVID-19 Diagnostics with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 COVID-19 Diagnostics Market Size
2.2 COVID-19 Diagnostics Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 COVID-19 Diagnostics Market Size by Manufacturers
3.2 COVID-19 Diagnostics Key Players Head office and Area Served
3.3 Key Players COVID-19 Diagnostics Product/Solution/Service
3.4 Date of Enter into COVID-19 Diagnostics Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global COVID-19 Diagnostics Sales by Product
4.2 Global COVID-19 Diagnostics Revenue by Product
4.3 COVID-19 Diagnostics Price by Product
5 Breakdown Data by End User
5.1 Overview
5.2 Global COVID-19 Diagnostics Breakdown Data by End User
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In the end, COVID-19 Diagnostics industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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COVID-19 Diagnostics Market Production Growth and Industry Analysis 2020 to 2030 - F. Hoffmann-La Roche, Seegene, Abbott