28 Apr 2020
Posted in Medical Devices
Sales from COVID-19 tests will fuel growth of Roche’s diagnostics sector
Following Roche’s announcement that its diagnostics sector increased in sales by 5% during Q1 2020;
Aliyah Farouk, Medical Device Analyst at GlobalData, a leading data and analytics company, offers her view:
“The growth of Roche’s diagnostics business in Q1 was mainly driven by the molecular diagnostics segment reflecting the company’s increased production capacity of its COVID-19 tests. GlobalData expects the large demand for Roche’s COVID-19 tests and automated testing systems will continue to be the main growth contributors to this business sector in the coming year.
“Although Roche’s COVID-19 test is presently available for use in limited regions, the fully automated Polymerase Chain Reaction (PCR) Systems, which are compatible with the COVID-19 test, are widely available globally. Therefore, the company can expect increased revenue as the test gains regulatory approval in other countries. Roche currently leads the global market for PCR systems. GlobalData expects the company to hold its position as the pandemic unravels.
“Additionally, Roche’s serology test to detect antibodies is currently in late-stage development, with anticipated availability in early May. GlobalData expects that the planned accelerated production for these tests will further propel the growth of the company’s diagnostics sector.”