COVID-19 Testing Market Update, 2022

This report, COVID-19 Testing Market Update, 2022, provides market sizing and estimates for COVID-19 tests with some discussion of market impacts of COVID-19. The scourge of COVID-19 continued to occupy laboratories and the in vitro diagnostic (IVD) companies that serve them throughout 2021 and into 2022. Testing already present in large labs and clinics entered the home last year, which added to market revenues.

At the time of publication, there is a slight decrease in cases which might suggest a decrease in COVID-19 testing revenues, but we’ve been through this before. Predicting COVID-19 is not easy. For the past two years, the disease has confounded prediction. There are at least two schools of thought about 2022. One is that COVID, as a result of the highly contagious Omicron and Delta variants, exposed enough of the population to have antibodies, and this along with strong vaccination rates and boostering, makes COVID-19 a still present but waning disease. Even in this optimistic scenario, testing will be at high volume and remains necessary throughout 2022, but there would be a decline in revenues.

A more pessimistic disease scenario would be that there are other variants that prove to be contagious, and vaccines do not provide enough long term protection and the population isn’t boostering at high levels. This would represent another wave like that seen during Q4 2021 and might suggest that such waves will be with us for some time. The second scenario obviously would create COVID-19 testing revenues and volumes higher than 2021.

COVID-19 Testing Market Update, 2022 covers these topics, trends, and predictions, in addition to providing other essential market analysis.

Chapter 1: Executive Summary

COVID-19 Testing Market Demand and Growth
Figure 1-1: COVID Market 2020 vs. 2021, ($billions)
Figure 1-2: COVID Testing by Quarter 2021, ($millions)
Figure 1-3: COVID-19 Test Market by Type, Q1-Q4 2021 Trend (Serology, Antigen, Molecular, Rapid) ($millions)
Growth Outlook
Figure 1-4: Growth Outlook for COVID-19 Testing, 2021 -2023 (percent)
Country Distribution
Figure 1-5: COVID-19 Revenue by Country, 2021
Test Innovations and Approvals
Table 1-1: Recent COVID-19 Test Approvals and Innovations

Chapter 2: Trends and Developments

Antigen and Molecular Product Developments
Antigen
Molecular
Other Developments
COVID-19 Testing Expands Multiplex Testing
COVID-19 Drives Molecular Point of Care Growth
AI Mines CT, Lab Results to Predict COVID-19 Severity
Long COVID Can Be Predicted Early On
Spectroscopy Employed in COVID-19

Chapter 3: Market Analysis COVID Testing

Market Analysis: Molecular, Antigen, Antibody and Rapid Tests
Table 3-1: COVID-19 Product Sales by Type - Immunoassay, Molecular, Rapid [at home, professional POC], 2021 ($ millions)
COVID-19 Test Market Share
Figure 3-1: COVID-19 Testing Market Share, 2021
COVID-19 Test Market by Country
Table 3-2: COVID-19 Market by Country (India, China, UK, Germany, Spain, Italy, France, Mexico
US, Canada, Japan, Africa / Middle East, Rest of World)

Chapter 4: Top IVD Market Participants

Abbott Laboratories
Table 4-1: Abbott Corporate Summary
Figure 4-1: Abbott Diagnostics Revenue by Segment (Core Laboratory, Molecular, Point-of-Care, Rapid Diagnostics, COVID-19, BinaxNOW/ID NOW) Full Year, 2020 and 2021
Figure 4-2: COVID-19 Distribution of Diagnostic Test Sales, Abbott Laboratories
Table 4-2: COVID-19 Test Sales, Abbott Laboratories
Becton Dickinson
Table 4-3: Becton Dickinson Corporate Summary
bioMérieux SA
Table 4-4: bioMérieux Corporate Summary
Figure 4-3: bioMérieux Clinical Applications Segment, Full Year Results, 2020,2021
Danaher Corporation
Table 4-5: Danaher Corporation Summary
Recent Results
Figure 4-4: Danaher Diagnostic Segment Performance, Full Year Results, 2020,2021
Hologic, Inc.
Table 4-6: Hologic Corporate Summary
Recent Results
Figure 4-5: Hologic Diagnostic Segment Performance, Full Year Results, FY 2020, FY 2021, $M
Qiagen
Table 4-7: Qiagen Corporate Summary
Recent Results
Figure 4-6: QIAGEN Revenue Mix Distribution by Business Segment (Molecular Diagnostics, Life Sciences), Q3 2021
Figure 4-7: QIAGEN Sales by Product Group (Sample Technologies, Diagnostic Solutions, PCR/Nucleic Acid Amplification, Genomics/NGS, Other), Q3 2021 ($ millions)
Quidel Corporation
Table 4-8: Quidel Corporate Summary
Recent Results
Figure 4-8: Quidel Corporation Revenue by Product Group, Full Year Results 2020, 2021, $M
Roche Diagnostics
Table 4-9: Roche Diagnostic Corporate Summary
Recent Results
Figure 4-9: Roche Diagnostics Revenue by Product Group, Full Year Results, 2020, 2021, CHF MN
Figure 4-10: Roche COVID-19 Testing by Segment (PCR, Antigen & Serology), Quarterly Reports, 2020 and 2021
Siemens Healthineers
Table 4-10: Siemens Healthineers Corporate Summary
Recent Results
Figure 4-11: Siemens Diagnostics Revenue, FY 2020 and FY 2021, € MN
Thermo Fisher Scientific
Table 4-11: Thermo Fisher Scientific Corporate Summary
Recent Results
Figure 4-12: Thermo Fisher Scientific COVID-19 Response Revenue, 2020 and 2021 by Quarter
COVID-19 Test Providers
Table 4-12: Test Companies with an EUA-Issued COVID-19 Test (Company, Location, Test Product, Date EUA)