Significant increase in the incidence of coronavirus infection and lack of availability of specific medicine or vaccine drive the growth of the global Covid-19 diagnostics market.
The Covid-19 diagnostics market garnered $7.1 million in the first quarter of 2020, and is expected to generate $445.4 million by the fourth quarter of 2020. The report offers an extensive analysis of changing market dynamics, business performance, industry roadmap, and competitive scenario.
Significant increase in the incidence of coronavirus infection and lack of availability of specific medicine or vaccine drive the growth of the global Covid-19 diagnostics market. However, scarcity of diagnostic kits hinders the market growth. On the other hand, the advancements in the diagnostic kits and expansion of leading players in emerging economies create opportunities in the coming years.
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- The importance of Covid-19 diagnostic tools has been highlighted due to the unavailability of specific medicine or vaccine, even though the several trials for vaccine development and potential treatments are ongoing.
- The groups of population that should be given a priority for immunization have been pointed out and diagnostic testing activities have been carried out for them.
The report offers a detailed segmentation of the global Covid-19 diagnostics market based on product, technology, end user, and region.
Based on technology, the majority of share was contributed by molecular segment in first quarter of 2020, and is estimated to maintain its lead position during the fourth quarter of 2020.
Based on end user, the majority of share was contributed by the diagnostic labs segment, accounting for more than two-thirds of the total share in the first quarter of 2020, and is expected to maintain the its dominance up to the fourth quarter of 2020.
Based on region, Europe will maintain its dominance throughout the forecast period and contributed the majority share with more than half of the total share in the first quarter of 2020. In addition, the report provides the analysis of the regions including North America, Asia-Pacific, and LAMEA during the forecast period.
Leading market players analyzed in the research include Seegene Inc., Thermo Fisher Scientific, Inc., Cepheid, Genematrix, Robert Bosch GmbH, F. Hoffmann-La Roche AG, MylabLifesolutions Pvt. Ltd., SureScreen Diagnostics Ltd., and Cellex Inc.
Scope of the Report:
|Market size available for years||2020-2022|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product, Technology, and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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