Relentless Efforts to Check Covid-19 to Drive the Covid-19 Diagnostics market
As per a report available on XploreMR, the global Covid-19 diagnostics market will go steady between 2020 and 2030.
Covid-19 tests have been the pivot with regards to managing the ongoing pandemic, as further spread of infection could be tackled along with diagnosing the severity of infection. As of now, more than 600 SARS-CoV-2 diagnostic tests are either in the clinical trial stage or have been approved. As such, need to develop diagnostic tests at a rapid pace is driving the growth of Covid-19 diagnostics market.
The current scenario is such that Covid-19 diagnostics are looking towards increasing capacity but there are mixed results herein. To enable precise and efficient diagnosis of Covid-19, an on-site or a portable diagnostic test is required for managing patients real time, that too with minimum downtime. Therefore, clinicians are turning to POC (point-of-care) testing pertaining to diagnosis, which is basically aimed at reduction of assay duration to some minutes (from hours).
What’s trending in the Covid-19 diagnostics market?
Becton, Dickinson and Company, in Jul 2020, did launch a POC SARS-CoV-2 diagnostic test in response to rapid testing being the need of the hour. This real-time testing is done using portable instrument. So, it could be inferred that Covid-19 is driving the life sciences tools market. However, the pharmaceutical industry, like the other verticals, is bearing the disruption in supply chain.
The other developments include continuous efforts by Qiagen to develop hoards of PCR tests for QIAstat-Dx and NeuMoDx enabling detection of the respiratory infections that include Covid-19 as well. The company has also taken one more step forward by targeting researchers by making way for integration of gene panels with bioinformatics solutions to analyse SARS-CoV-2.
Technological upgradations are also doing the rounds over here. For instance, BMC (a civic body in India), in Aug 2020, announced assessing efficacy on the part of AI-based Covid-19 tests. A month prior, the University of Oxford did publish results of usage of AI algorithms to screen the patients.
The molecular diagnostic companies are also being propelled to come up with Covid-19 diagnostic products due to extensive investments by private and public agencies. For example – NIH, in Jun 2020, did announce releasing 4 funding opportunities for accelerating research regarding SARS-CoV-2 screening for the destitute population, so as to look into gap analysis.
CRISPR-based “nucleic acid detection” does serve as a sensitive, reliable, and specific method. As testing could be done at constant temperature, PCR platform or costly thermal cycler could be done away with. One such system has been developed by the university of Connecticut Health Center. It is embedded with one-pot reaction system principle that does reduce risk related to cross-contamination.
The research centre is also trying out ways of integrating the above-mentioned CRISPR technology into the microfluidic diagnostic chips, which could bring about a new POC product to diagnose SARS CoV-2. It’s in the clinical stage right now.
Due to shortage of reagents, the US FDA has allowed EUA (Emergency Use Authorization) to several Covid-19 detection tests. This move is likely to help market players in laying their hands on fast approval of reagents and kits.
For sample collection, nasopharyngeal swabs are preferred (as per CDC’s recommendation). Oropharyngeal swabs could also be accepted if nasal swabs are unavailable. US Cotton, in Apr 2020, agreed upon manufacturing polyester-based swabs in bulk quantities, so as to be used in the collection of sample for Covid-19 testing. Blood sample-based tests are being encouraged, so as to assess both – short and long-term trajectories of abundance, antibody response, and diversity in the patients.
Though non-POC tests remain predominant, traditional laboratory testing is not behind. Decentralized testing is also being looked upon as a promising means to facilitate rapid testing. For instance, Abbott, in Aug 2020, did announce EAU related to its Covid-19 antigen test that gives results in merely 15 minutes. Private laboratories have jumped in. Orchard Laboratories, in Apr 2020, turned out to be the very first private laboratory in Michigan to provide rapid Covid-19 testing using RT-PCR technology.
Reimbursement policies are also on the anvil. For example – CMS (Centers for Medicare & Medicaid Services) has upscaled Medicare reimbursement rate for the high-molecular tests. Amongst the decentralized testing platforms, Abbott’s ID NOW platform has been implemented in doctors’ offices and urgent care clinics in the US.
Likewise, Lucence (Singapore) has entered into collaboration with Akribis Systems regarding Covid-19 saliva processing automated platform for accelerating mass testing. Also, Mylab Discovery Solutions holds the distinction of being the first India-based company to receive approval for “Mylab PathoDetect Covid-19 qualitative PCR kit”.
The key players in the covid-19 diagnostics market include Cepheid, Luminex Corporation, laboratory Corporation of America Holdings, Hologic Inc., Quest Diagnostics, Quidel, ALDATU BIOSCIENCES, Danaher, ADT Biotech Sdn Bhd, and others (apart from the ones mentioned above). All of them are trying to cope up with the demand for diagnostic kits.
Covid-19 Diagnostics Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by XploreMR on the Covid-19 Diagnostics Market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The report consists of a comprehensive assessment of the most important market dynamics. On conducting thorough research on the historical as well as current growth parameters of the market, growth prospects of the market are obtained with utmost precision.
The report features unique and salient factors that may make a huge impact on the development of the Covid-19 Diagnostics Market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the market in the years to come. The report provides detailed information about the current and future growth prospects of the market in the most comprehensive way for better understanding of readers.
Key Segments of Covid-19 Diagnostics Market
XploreMR’s study on the market offers information divided into four important segments— Drug Class, Route of Administration, Application, and Region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Chapter 1 – Executive Summary
The report commences with the executive summary of the Covid-19 Diagnostics Market report, which includes the snapshot of key findings and statistics. It also includes the market value (US$ million) estimates of the leading segments of the market and the key trends impacting the market.
Chapter 2 – Market Overview
Readers can find detailed taxonomy and product definition of the Covid-19 Diagnostics Market in this chapter, which will help them understand basics of Covid-19 diagnostics.
Chapter 3 – Key Market Trends
This section highlights the key trends impacting the market, which will help readers understand the current trends and their impact on market growth.
Chapter 4 – Key Success Factors
This chapter explains the key macroeconomic factors that are expected to influence the growth of the market during the forecast period. It also highlights the major forecast factors that will shape market growth. Besides, it provides key dynamics of the market, which include the drivers, restraints, and opportunities.
This chapter is expected to enable readers understand the factors that are propelling the growth of the market, as well as those likely to hamper the growth. The opportunity analysis for the Covid-19 Diagnostics Market will help readers understand the market opportunities, based on which they can plan their strategies.
In addition, this section provides the current and expected impact of Covid-19 on the market.
Chapter 5 – Global Covid-19 Diagnostics Market (Volume in Units) Analysis 2015-2019 and Forecast, 2020-2030
This section explains the global market value analysis and forecast for the market during the forecast period along with the historical market and opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2020), and an incremental opportunity for the forecast period (2020–2030) – both – volume-wise.
Chapter 6 – Global COVID-19 Diagnostics Market – Pricing Analysis
This chapter throws light on pricing break-up, both – at the manufacturer level and distributor level. The average pricing benchmark that has been set is also looked into.
Chapter 7 – Global COVID-19 Diagnostics Market Demand (Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
This section explains the global market value analysis and forecast for the market during the forecast period along with the historical market and opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020–2030).
Chapter 8 – Market Background
This chapter gives information about COVID-19 crisis impact analysis that comprises current COVID-19 statistics and probable future impact, impact on GDP of individual key countries, segment wise impact, quarter-wise forecast, and projected recovery quarter. In addition, it includes drivers and restraints of the market. Plus, there are macroeconomic factors and various opportunities listed for the Covid-19 Diagnostics Market.
Chapter 9 – Global Covid-19 Diagnostics Market Analysis (2015-2019) and Forecast (2020-2030), By Product Type
Based on product type, the market is segmented into Instruments, Test Kits (Rapid test Kits, Array-based Test Kits), Reagents and Consumables. In this chapter, readers can find a detailed analysis of the market by different classes of drugs regarding Covid-19 Diagnostics and their growth over the forecast period.
Chapter 10 – Global Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast, 2020-2030, By Sample Type
Based on end-user, the market spans Oropharyngeal & Nasopharyngeal Swabs, Blood, Urine, and Others. In this chapter, readers can find information on market attractiveness based on end-user.
Chapter 11 – Global Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast, 2020-2030, By Technology
Based on technology, the market consists of PCR, ELISA, and POC. Readers could find information about market attractiveness in this regard.
Chapter 12 – Global Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast, 2020-2030, By End-User
Based on end-user, the market comprises hospitals, specialty clinics, diagnostics centers, pathology laboratories, and research institutes. The readers can find market attractiveness in this regard.
Chapter 13 – Global Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast, 2020-2030, By Region
This chapter explains how the market will grow across various regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa (MEA).
Chapter 14 – North America Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
This chapter includes a detailed analysis of North America’s Covid-19 Diagnostics Market along with the country-wise assessment including the U.S. and Canada.
Chapter 15 – Latin America Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
This chapter includes the growth prospects of the Covid-19 Diagnostics Market in Brazil, Mexico, and the rest of Latin America. Readers can find thorough information about the growth parameters of the Latin America’s Covid-19 Diagnostics Market during 2020-2030.
Chapter 16 –Europe Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
Important growth prospects of the Covid-19 Diagnostics Market based on product type, form, source, application in the U.K., Germany, France, Italy, Spain, Russia, BENELUX, and Rest of Europe are included in this chapter.
Chapter 17 – South Asia Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
India, Indonesia, Malaysia, Thailand, and the rest of South Asia are the leading countries/regions in South Asia that are the prime subjects of assessment to obtain the growth prospects of the South Asia’s Covid-19 Diagnostics Market. In this chapter, readers can find thorough information about the growth parameters of the South Asia’s Covid-19 Diagnostics Market during 2030.
Chapter 18 – East Asia Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
Detailed information about factors such as incremental opportunity, Y-O-Y growth, and regional trends that are impacting the growth of the East Asia’s Covid-19 Diagnostics Market are included in this chapter. It also includes the growth prospects of the market in leading East Asian countries such as China, Japan, and South Korea.
Chapter 19 – Oceania Covid-19 Diagnostics Market Analysis 2014–2018 and Forecast 2020–2030
This chapter consists of important parameters that have a huge impact on the growth of the market in Oceania, based on market segmentation, during the forecast period. It also provides an overview of the drivers, restraints, and trends in the Oceania’s Covid-19 Diagnostics Market.
Chapter 20 – MEA Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
This chapter provides information on how the market will grow in the major countries in GCC Countries, South Africa, Northern Africa, Turkey, and Rest of MEA during 2020-2030.
Chapter 21 – Key and Emerging Countries Covid-19 Diagnostics Market Analysis 2015-2019 and Forecast 2020-2030
This chapter provides information about the way the market will grow in the in the emerging economies as well as the key players in the forecast period (2020-2030).
Chapter 22 – Market Structure Analysis
This chapter highlights the tier structure analysis, market concentration analysis, and company share analysis along with sales footprint analysis of key player operating in Covid-19 Diagnostics Market.
Chapter 23 – Competitive Analysis
In this chapter, readers can find a comprehensive list of all the leading stakeholders in the Covid-19 Diagnostics Market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Players featured in the market report include Veredus Laboratories, Thermo Fisher Scientific, Inc., Quidel Corporation, Perkin Elmer, Inc., Neuberg Diagnostics, Mylab Discovery Solutions Pvt Ltd., Luminex Corporation, Laboratory Corporation of America Holdings, Hologic Inc., Danaher, Cepheid, bioMérieux SA, Altona Diagnostics GmbH, ALDATU BIOSCIENCES, ADT Biotech Sdn Bhd, Abbott, 1drop Inc.
Chapter 24 – Assumptions and Acronyms Used
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the report.
Chapter 25 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, important qualitative information.
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