Market Research Future With Their Unique Quality Of Simplifying The Market Research Study, Announces A Deep Study Report On “COVID-19 Diagnostics Market Research Report – Forecast To 2023” Gives Industry Size, Top Players And Worldwide Demand
COVID-19 Diagnostics Market Analysis
The global COVID-19 diagnostics market is expected to exhibit a solid 6.28% CAGR over the forecast period from 2020 to 2027, according to the latest research report from Market Research Future (MRFR). The global COVID-19 diagnostics market is expected to reach a valuation of close to USD 96.3 billion by 2027. The research report profiles the global COVID-19 diagnostics market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market. Future projections are based on the detailed historical stats offered in the report.
Based on this platform, future projections for the COVID-19 diagnostics market’s growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global COVID-19 diagnostics market and gives readers a comprehensive analysis of the leading players in the global COVID-19 diagnostics market. The report also profiles the major drivers and restraints affecting the global COVID-19 diagnostics market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the COVID-19 diagnostics market is also assessed in the report.
COVID-19 is a disease caused by a strain of the coronavirus. It primarily affects the lungs and results in fever and inability to breathe. The growing global pandemic of COVID-19 has been the major driver for the global COVID-19 diagnostics market over the last few months. Over the last few months, COVID-19 cases have risen at a rapid rate all over the world, including developed as well as developing countries. This has driven the demand for effective COVID-19 diagnostics in the last few months. Due to the growing threat of the coronavirus, the demand for effective diagnostic testing kits has grown at a rapid rate. This is likely to remain the major driver for the COVID-19 diagnostics market over the forecast period. The market has excellent prospects over the short term, as governments as well as private agencies have made significant purchases of COVID-19 diagnostics.
The market’s future is uncertain in the long term, as once a vaccine to coronavirus is found, the demand for COVID-19 diagnostics is likely to decrease significantly. However, the temporary boost to the market due to the coronavirus pandemic is likely to be favorable to a number of players in the market.
COVID-19 Diagnostics Market Competitive Leaderboard:
Leading players in the global COVID-19 diagnostics market include Siemens AG, Qiagen, Thermo Fisher Scientific, Genmark Diagnostics, Biomerieux SA, F. Hoffman-La Roche Ltd., Abbott, Danaher Corporation, Bio-Rad Laboratories, and Becton Dickinson and Company.
In May 2020, Thermo Fisher Scientific received a U.S. government contract to provide highly specialized viral transport media for coronavirus sample collection.
In April 2020, Becton Dickinson and Company received an Emergency Use Authorization from the U.S. FDA.
COVID-19 Diagnostics Market Segmentation:
The global COVID-19 diagnostics market is segmented on the basis of type, technology, end use, and region.
By type, the global COVID-19 diagnostics market is segmented into molecular tests and serology tests.
By technology, the global COVID-19 diagnostics market is segmented into RT PCR, isothermal amplification, CRISPR, ELISA, hybridization, and others.
By end use, the global COVID-19 diagnostics market is segmented into hospitals, public health labs, and private and commercial labs. The hospitals segment held a dominant share in the global COVID-19 diagnostics market in 2021 and is likely to remain the leading segment of the COVID-19 diagnostics market over the forecast period.
COVID-19 Diagnostics Market Regional Analysis:
Europe is likely to dominate the global COVID-19 diagnostics market over the short term, due to the growing number of COVID-19 cases in countries such as Italy, the UK, France, and Germany. These countries have featured near the top of the most number of patients suffering from COVID-19 and are likely to remain in the lead in the coming months, leading to a growing demand for COVID-19 diagnostics.
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