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COVID-19 Testing - Global Market Trajectory & Analytics

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    Report

  • 1417 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5519707
Global COVID-19 Testing Market to Shrink to $8.0 Billion by 2027
Amid the COVID-19 crisis, global market for COVID-19 Testing estimated at US$19 Billion in the year 2020, is projected to decline to US$8.0 Billion by 2027, declining at a CAGR of -11.8% over the period 2020-2027.

COVID-19 testing has emerged as a large market in a span of few months owing to the large-scale testing across the world. However, with vaccines being launched across the world, the COVID-19 testing market is expected to slowdown in 2021, and decline rapidly in the near future as the global population starts getting vaccinated. The major testing types include RT-PCR tests, rapid antigen tests, and rapid antibody tests. Growth in the global market is primarily being driven by rising incidence of COVID-19 infection and the pressing need for effective and fast testing. Announced as pandemic by the WHO, the rapid spread of the virus across countries has prompted governments to rely on massive testing, which created strong demand for COVID-19 test kits. The market for these tests is further bolstered by unavailability of an effective treatment hitherto, driving people to consider diagnostic testing as a solution to curtail the pandemic. Increase caseloads of COVID-19 owing to non-compliance to specific measures like social distancing has resulted in significant demand for testing. In addition, the requirement of effective detection kits for vulnerable population, including aging people and individuals with the compromised immune system, is propelling the market. On the other hand, short supply of test kits and other components, such as RT-PCR instruments, virus control samples, and swabs, are expected to limit the market growth.

Select Competitors (Total 547 Featured)

  • 3D Biomedicine Science & Technology Co., Limited
  • Abbott Laboratories
  • Advaite, Inc.
  • AlphaBiolabs Ltd - BGI Genomics Co. Ltd.
  • BioFire Diagnostics LLC
  • BioMedomics Inc
  • Bioscience (Tianjin) Diagnostic Technology Co., LTD
  • Cellex
  • Cepheid Inc.
  • Chembio Diagnostic Systems, Inc.
  • Co-Diagnostics Inc.
  • Dynamiker Biotechnology (Tianjin) Co., Ltd.
  • GenMark Diagnostics, Inc.
  • Hologic, Inc
  • Innovita Biological Technology Co., Ltd
  • Mayo Clinic Laboratories
  • Mylab Discovery Solutions Pvt. Ltd.
  • Ortho Clinical Diagnostics
  • Primerdesign Ltd
  • QIAGEN N.V.
  • Quidel Corporation
  • Randox Laboratories Ltd.
  • F. Hoffmann-La Roche AG
  • Safecare Biotech(Hangzhou) Co., Ltd.
  • SD Biosensor
  • Seegene Inc.
  • Shenzhen Bioeasy Biotechnology Co., Ltd.
  • Siemens Healthineers AG
  • Thermo Fisher Scientific
  • Zhejiang Orient Gene Biotech Co., LTD

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGY
II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
1. GLOBAL MARKET OVERVIEW
  • Types of COVID-19 Testing
  • Different Types of Coronavirus Tests
  • Performance Analysis of COVID-19 Tests
  • Rapid Tests Help in Controlling the Virus
  • How Will COVID-19 Testing Change in 2021
  • Massive Testing to Become a Way of Life
  • COVID-19 to Drive Hospital and Diagnostic Lab Revenues in 2021
  • COVID-19 Testing Witnesses Staggering Growth Due to Rising Incidence of Corona Virus
  • Total Number of COVID-19 Tests Conducted in the Most Impacted Countries: As of September 1st, 2021
  • Total Number of COVID-19 Tests Worldwide in Select Countries: As of September 1st, 2021
  • Molecular Tests (RT-PCR) Occupy a Predominant Share of the COVID-19 Testing Market
  • Select Approved COVID-19 Molecular Assay Tests
  • Immunoassays to Witness Fastest Growth
  • Increasing Demand for Antibody Tests
  • How Antibody (Serology) Tests Were Approved and Developed
  • Select COVID-19 Immunoassay Kits
  • List of US FDA Approved Antigen Tests
  • Nasopharyngeal/Oropharyngeal Swabs Remain Primary Sample Type
  • Diagnostic Laboratories Constitute the Largest End-use Segment
  • RECENT MARKET ACTIVITY
  • Recent Launches
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS AND ISSUES
  • Rising Incidence of Coronavirus Cases Drive the Need for Testing
  • COVID-19 Most Impacted 18 Countries Worldwide: As on September 1st, 2021
  • Pandemic Gives Rise to Innovative Partnership Models
  • Broader Adoption of Reverse-Transcription Polymerase Chain Reaction-based Diagnostics
  • Increasing Point-of-Care Molecular Testing
  • Accelerated Development and Faster Adoption of New Technologies
  • Expansion of Manufacturing Capacity in Asia and Shift of Supply
  • Positioning for the Future
  • Some Innovative Testing Methods for COVID-19:
  • CRISPR
  • Bioluminescence Testing
  • Lab-on-chip Testing
  • LAMpore Kits
  • Covid-19 NudgeBox Test by DNANudge
  • High Risk of Infection in Geriatric Population Drives COVID-19 Testing Market
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • Rapid Test Kits Market for COVID-19 to Exhibit Exponential Growth
  • Select Approved COVID-19 Rapid Tests
  • Point-of-Care Tests Witness Rapid Growth
  • High-Speed NanoPCR Technology Developed for Point-of-Care Diagnosis of COVID-19
  • Mass Community Testing Holds the Key for Effective COVID-19 Management
  • The Need for Rapid Mass Testing Pushes for Production of Novel Testing Platforms
  • CRISPR Emerges as Cutting-Edge Biotechnology in COVID-19 Diagnostic Market
  • Innovations and Approvals
  • Portable PoC Test with a Smartphone Reader
  • Saliva Test
  • FDA Approves First Molecular Test for Asymptomatic Patients
  • New Molecular Test N1-STOP-LAMP
  • LumiraDx SARS-CoV-2 Antigen Test
  • Integration of Sophisticated Technology to Drive Market Growth
  • Isothermal Amplification: An Effective Alternative to RT-PCR for COVID-19 Testing
  • In-home Testing for Covid-19
  • FDA Authorizes Home Collection Option for LabCorp's COVID-19 Diagnostic Test
  • A Rapid Genomics Strategy to Trace Coronavirus
  • The pioneering of Rapid Genomics
  • Digital Healthcare Gains Spotlight Amid COVID-19 Pandemic
  • Digital Technologies Gaining Adoption Amid COVID-19
  • List of COVID-19 Contact Tracing Apps
  • Amazon Offers FDA-Approved COVID-19 Test
  • Alliance of BMGF and Life Science Companies Pledge to Improve Access
  • Ensuring the Perfect Mix of COVID-19 Testing
  • Testing Rate & Average Turnaround Time to Results as Key Metrics
  • Growing Significance of Pooled Testing
  • Participation of Public & Private Sector
  • Avoiding Supply Mismatch
  • Recent Launches
  • New Test Detects SARS-CoV-2 in Less Than Five Minutes
  • New COVID-19 Test Provides Faster Results and Eliminates False Negatives
  • New Rapid Lateral Flow Immunoassay Developed
  • University of California Develops Rapid, Accurate Testing for SARS-CoV-2 Antibodies
  • Abbott Plans Shipment of Tens of Millions of At-Home Coronavirus Tests Costing $25 in Early 2021
  • Quidel Gains FDA Approval for Sofia 2 Antigen Test
  • Improving Medicine with Innovation and Technology and Massachusetts Institute of Technology Develop COVID-19 Testing Impact Calculator (U.S.)
  • Nanomix Offers eLab COVID-19 Rapid Antigen Test
  • Abbott Receives FDA Approval for BinaxNow
  • Roche Introduces Elecsys® SARS-CoV-2 Antigen test
  • DnaNudge Offers CovidNudge Test
  • Open-Source Toolkit Helps Developing Countries Meet Demand for COVID-19 Diagnostics
  • 3M Joins Hands with MIT's Sikes Lab to Create Rapid & Affordable COVID-19 Test
  • ZTA Biotech Announces "Breakthrough" Development with Antibody Test
  • Molecular Diagnostics Firm QuantuMDx Group Set to Scale up Production of Rapid PCR COVID-19 Device
  • Mologic Granted CE Mark for Rapid Antigen Test
  • FDA Approves Abbott's COVID-19 Antigen Test
  • AptameXTM
  • COVID-19 Testing - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Global Market Prospects and Outlook
  • US and Europe Dominate, Asia-Pacific to Witness Fastest Growth
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for COVID-19 Testing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World 7-Year Perspective for COVID-19 Testing by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2021 & 2027
  • Table 3: World Recent Past, Current & Future Analysis for RT-PCR Assay Kits by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 4: World 7-Year Perspective for RT-PCR Assay Kits by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 5: World Recent Past, Current & Future Analysis for Immunoassay Test Strips/Cassettes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 6: World 7-Year Perspective for Immunoassay Test Strips/Cassettes by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Nasopharyngeal Swab by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World 7-Year Perspective for Nasopharyngeal Swab by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 9: World Recent Past, Current & Future Analysis for Oropharyngeal Swab by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 10: World 7-Year Perspective for Oropharyngeal Swab by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 11: World Recent Past, Current & Future Analysis for Nasal Swab by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 12: World 7-Year Perspective for Nasal Swab by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Other Specimen Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World 7-Year Perspective for Other Specimen Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 15: World Recent Past, Current & Future Analysis for Hospitals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 16: World 7-Year Perspective for Hospitals by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 17: World Recent Past, Current & Future Analysis for Diagnostic Centers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 18: World 7-Year Perspective for Diagnostic Centers by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World 7-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Analysis
  • US Emerges as a Major Market for COVID-19 Tests
  • New Delta Variant Cases Cause Concern
  • Covid-19 Test Supply Chain Issues in the US
  • Challenges Associated with COVID-19 Testing
  • Impact of Surveillance Testing on COVID-19 Test Supply Chain
  • CDC Funding for Covid-19 Vaccination & Testing-Related Activities
  • Escalating Cases of COVID-19 Lead to Spurt in Diagnostic Test Innovations
  • Uptake of At-Home Tests Remains Modest
  • FDA Approves 2 Rapid, At-Home Coronavirus Tests
  • Select Point Of Care Home Tests in the US
  • Pharmacies Now Offering Over-The-Counter Same-day COVID Tests
  • HHS Introduces Pilot Program for Cartridge-based Covid-19 Molecular Test Kits
  • Oura Develops New Smart Ring to Detect Covid-19 Symptoms at Early Stage (Finland)
  • Issues with Existing Testing Options
  • Issues with At-Home and Point-of-Care Rapid Tests
  • Disparate Costs Continue to Plague US Covid-19 Testing
  • With Spike in COVID-19 Cases Roiling Testing Efforts, NIH Eyes on Rapid Tests to Push Capacity
  • Promising Technologies under RADx Program
  • Rapid COVID Tests: Important Tool for Recovery
  • California University Installs Vending Machines to Dispense COVID-19 Testing Kits to Students
  • FDA Assumes Lukewarm Stance to Home Tests despite COVID-19 Testing Lag in US
  • CMS Prioritizes Covid-19 Testing: Announces New Reimbursement Rules
  • CMS Decreases Price for High-Throughput Technology-Based Covid-19 Testing
  • Ageing Demographics: A Major Driving Factor
  • US Elderly Population: Expected Growth Rates Over the Years 2005-2025
  • NIH Funding
  • US FDA Approved COVID-19 Tests
  • Select US FDA Approved COVID-19 Tests (As of August 31, 2021)
CANADA
  • Market Analysis
  • New Cheaper and Faster COVID-19 Rapid Test Kit Obtains Approval
  • Canada Approves First Antigen-Based Rapid COVID-19 Test
  • Government of Ontario Introduces Covid-19 Screening Tests at Toronto Pearson International Airport
  • New Federal Rule in Canada for Air Passengers' COVID-19 Tests
JAPAN
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Analysis
  • Japan Moves to Low-Cost PCR Testing
  • Rapid Testing Still Costs a Bomb
  • Medical Clinics Edge
CHINA
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China's Qingdao Embarks on Ambitious Mission to Test Entire Population of City for COVID-19 in Five Days
EUROPE
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analysis
  • COVID-19 Testing Drives Revenue Growth
  • Aging Population: A Prime Growth Driver
  • SELECT CE-IVD APPROVED MOLECULAR ASSAYS FOR COVID-19
FRANCE
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Pandemic Exposes Deficiencies in the UK Healthcare System
  • UK Opens New Vaccine Centers to Expand Asymptomatic Covid-19 Testing
  • Mandatory COVID-19 Tests for UK-Bound Travellers
  • Mass Testing Program for COVID-19
  • Mass Testing in Schools
  • Mass Testing in Cities and Towns
  • New `Mega Labs` to Speed Up COVID-19 Testing in Early 2021
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Analysis
  • India Hastens Strides toward COVID-19 Testing & Significantly Exceeds Testing Criteria Set by WTO
  • Increase in Daily Tests for COVID-19 in India
  • Indian Researchers Develop Foremost Paper-based Test to Get Handle over COVID-19
  • Researchers in India Successfully Develop Saliva-based Test for COVID-19
  • Home Kits for COVID-19 Testing in India
  • The Rockefeller Foundation Injects New Grants to Boost Covid-19 Testing & Surveillance in India
SOUTH KOREA
  • Authorities Succeed In Successfully Evading the Virus Impact
  • Widespread Roll Out of Testing Laboratories Yields Results
REST OF ASIA-PACIFIC
  • Market Analysis
  • TAIWAN
  • Largest Outbreak of COVID-19 Infection in Taiwan led to Testing Backlog in the Country
  • INDONESIA
  • Indonesia Provided with 1 Million Antigen-Detecting Rapid Diagnostic Tests (Ag-RDTs)
LATIN AMERICA
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIA
UNITED ARAB EMIRATES
  • New Testing Facilities Open Up in the UAE
REST OF MIDDLE EAST
AFRICA
  • COVID-19 Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Market Analysis
  • WHO Pushes for Rapid Testing to Boost Africa's Response to COVID-19 Pandemic
  • COVID-19 Testing Benefits from Existing TB and HIV Laboratory Systems
  • RDTs Arrive in African Countries
IV. COMPETITION
  • Total Companies Profiled: 547

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3D Biomedicine Science & Technology Co., Limited
  • Abbott Laboratories
  • Advaite, Inc.
  • AlphaBiolabs Ltd
  • BGI Genomics Co. Ltd.
  • BioFire Diagnostics LLC
  • BioMedomics Inc
  • Bioscience (Tianjin) Diagnostic Technology Co., LTD
  • Cellex
  • Cepheid Inc.
  • Chembio Diagnostic Systems, Inc.
  • Co-Diagnostics Inc.
  • Dynamiker Biotechnology (Tianjin) Co., Ltd.
  • GenMark Diagnostics, Inc.
  • Hologic, Inc
  • Innovita Biological Technology Co., Ltd
  • Mayo Clinic Laboratories
  • Mylab Discovery Solutions Pvt. Ltd.
  • Ortho Clinical Diagnostics
  • Primerdesign Ltd
  • QIAGEN N.V.
  • Quidel Corporation
  • Randox Laboratories Ltd.
  • F. Hoffmann-La Roche AG
  • Safecare Biotech(Hangzhou) Co., Ltd.
  • SD Biosensor
  • Seegene Inc.
  • Shenzhen Bioeasy Biotechnology Co., Ltd.
  • Siemens Healthineers AG
  • Thermo Fisher Scientific
  • Zhejiang Orient Gene Biotech Co., LTD