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Covid-19 Diagnostics Market to Reach $9.94 Bn, Globally, by the Fourth Quarter of 2020, Says Allied Market Research

Rise in Covid-19 patients across the world, need for rapid diagnostics, and lack of specific vaccine or medicine drive the growth of the global Covid-19 diagnostics market

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Allied Market Research

Oct 29, 2020, 09:00 ET

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PORTLAND, Ore., Oct. 29, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Covid-19 Diagnostics Market by Product (PCR Kits, POC Kits and Immunoassay), Technology (Molecular and Immunoassay), and End User (Hospitals, Physician's office & urgent care clinics and Diagnostic Labs): Global Opportunity Analysis and Industry Forecast, 2020–2022". As per the report, the global Covid-19 diagnostics industry was pegged at $73.19 million in the first quarter of 2020, and is projected to reach $9.94 billion by the fourth quarter of 2020.

Download Detailed COVID-19 Impact Sample Report at: https://www.alliedmarketresearch.com/request-sample/6479

Drivers, restraints, and opportunities

Rise in Covid-19 patients across the world, need for rapid diagnostics, and lack of specific vaccine or medicine drive the growth of the global Covid-19 diagnostics market. However, lack of awareness among developing countries regarding precautions and dearth of diagnostic kits & medical professionals hinder the market growth. On the contrary, development of advanced diagnostic kits would open new opportunities for the market players in the future.

Covid-19 scenario:

  • Researchers have been focused on developing a potential treatment for Covid-19 and have been conducting months of trials to find the cure, which increased the demand for Covid-19 diagnostic tools.
  • Since the outbreak of Covid-19, researchers have been working to develop more accurate and faster diagnostic kits.

The PCR kits segment held the largest share

By product, the PCR kits segment held the lion's share in the first quarter of 2020, and is expected to maintain its dominance till the end of 2020. This is due to their high accuracy and specificity. The global Covid-19 diagnostics market report includes an analysis of other segments such as POC kits and Immunoassay.

The diagnostic labs segment dominated the market

By end user, the diagnostic labs segment held the largest share in the first quarter of 2020, contributing to more than two-thirds of the global Covid-19 diagnostics market, due to increased usage of molecular assays for Covid-19 diagnosis as the procedure requires various chemicals and instruments that are more easily available in a diagnostic laboratory. The report includes an analysis of other segments such as hospitals and physician offices & urgent care clinics.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6479

Europe, followed by Asia-Pacific and North America, held the lion's share

By region, the market across Asia-Pacific is expected to contribute the highest revenue by the fourth quarter of end of 2020, owing to a higher number of patient populations in this region. The global Covid-19 diagnostics market across Europe held the lion's share in the first quarter of 2020, contributing to nearly half of the total revenue.

Major market players

  • Seegene Inc.,
  • Robert Bosch GmbH
  • Cellex Inc.
  • F. Hoffmann-La Roche AG
  • Cepheid
  • MylabLifesolutions Pvt. Ltd.
  • Thermo Fisher Scientific, Inc.
  • Genematrix
  • SureScreen Diagnostics Ltd.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering impact of Covid-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

Similar Reports:

Patient Monitoring Systems Market – U.S. Opportunity Analysis and Industry Forecast, 2020–2027

Digital Therapeutics Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Electronic Health Records (EHR) Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Blood Pressure Monitoring Devices Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Next Generation Sequencing (NGS) Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Sleep Aids Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Disposable Medical Gloves Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
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Web: https://www.alliedmarketresearch.com 
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SOURCE Allied Market Research

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