COVID-19 Tests Market Size by Segments, Share, Regulatory, Reimbursement, and Forecast to 2033

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Published: June 16, 2023 Report Code: GDME705MM-ST

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COVID-19 Tests Market Report Overview

The COVID-19 Tests market size was valued at $75.4 billion in 2022. COVID-19 testing is done through three primary NAATs: Singleplex NAATs, POC NAATs, and Multiplex NAATs. COVID-19 NAATs are the major device used due to its historically established and widespread use and associated equipment.

COVID-19 Tests Market Outlook 2022-2023 ($ Billion)

COVID-19 Tests Market Outlook 2022-2023 ($ Billion)

The COVID-19 Tests market research report is built to visualize quantitative market trends within in-vitro diagnostics therapeutic areas. Furthermore, the model discusses in detail the impact of COVID-19 on the COVID-19 Tests market for the year 2020 and beyond.

Market Size (2022) $75.4 billion
Historic Period 2015-2022
Forecast Period 2023-2033
Key Segments ·       COVID-19 Nucleic Acid Amplification Tests (NAATs)
Key Regions ·       Asia-Pacific

·       Europe

·       Middle East and Africa

·       North America

·       South and Central America
Key Companies ·       F. Hoffmann-La Roche Ltd

·       Abbott Laboratories

·       Hologic Inc

·       Becton Dickinson and Co

·       Luminex Corp

·       BioFire Diagnostics Inc

·       Cepheid Inc

·       Qiagen NV

·       PerkinElmer Inc

·       Thermo Fisher Scientific Inc

·       QuidelOrtho Corp

·       BGI Genomics Co Ltd

·       Altona Diagnostic GmbH

·       Others
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COVID-19 Tests Market Dynamics

The market for COVID-19 PCR Tests has contracted globally post the pandemic. Factors that may have impacted this include the successful adoption of SARS-CoV-2 vaccine campaigns in developed countries, and a shift towards rapid antigen detection tests (RADTs) and Point-of-Care (POC) testing. As COVID-19 continues a transition towards becoming an endemic disease, severe health outcomes are expected to occur primarily in unvaccinated individuals, the global population of which is shrinking with recent approvals for vaccine use in children.

Furthermore, precautions for COVID-19 resulted in a severely reduced flu season for 2020-2021. As public health measures including mask mandates and social distancing measures have been relaxed, the potential for flu infection to return is being cautioned by public health experts. Owing to physician preference, the use of multiplex NAATs seen in 2020 and 2021 is continued post 2022.

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COVID-19 Tests Market Segments

The key segment in the COVID-19 Tests market is COVID-19 Nucleic Acid Amplification Tests (NAATs). In 2022, the Nucleic Acid Amplification Tests (NAATs) segment dominated the market share.

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COVID-19 Tests Market Segmentation by Regions

The key regions in the COVID-19 Tests market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2022, Europe emerged as the leading regional segment. Barring the rise of a more severe virus variant, PCR testing is expected to experience a plateau in the short term due to successful efforts in public vaccination campaigns. In the long term, COVID-19 is expected to recede into a seasonal, endemic disease with a cyclical infection pattern such as that observed with the flu. The patchwork spread of COVID-19 across Europe has resulted in a patchwork recovery with substantial differences in the number of incident cases between countries. In general, sources indicate that NAATs are largely used throughout Europe for the diagnosis of COVID-19.

COVID-19 Tests Market Analysis by Regions, 2022 (%)

COVID-19 Tests Market Analysis by Regions, 2022 (%)

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COVID-19 Tests Market – Competitive Landscape

The key companies in the COVID-19 Tests market are F. Hoffmann-La Roche Ltd, Cepheid Inc, Hologic Inc, Abbott Laboratories, BioFire Diagnostics Inc, Becton Dickinson and Co, Luminex Corp, Qiagen NV, PerkinElmer Inc, Thermo Fisher Scientific Inc, QuidelOrtho Corp, BGI Genomics Co Ltd, and Altona Diagnostic GmbH among others. In 2022, F. Hoffmann-La Roche Ltd accounted for the highest COVID-19 Tests market share and value.

COVID-19 Tests Market Analysis by Companies, 2022 (%)

COVID-19 Tests Market Analysis by Companies, 2022 (%)

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Segments Covered in this Report

COVID-19 Tests Segment Outlook ($ Million, 2015-2033)

  • COVID-19 Nucleic Acid Amplification Tests (NAATs)

COVID-19 Tests Regional Outlook ($ Million, 2015-2033)

  • Asia-Pacific
  • Europe
  • Middle East and Africa
  • North America
  • South and Central America

Key Inclusions of the market model are –

Currently marketed COVID-19 Tests market and evolving competitive landscape –

  • Insightful review of the key industry trends.
  • Annualized total COVID-19 Tests market revenue by segment and market outlooks from 2015-2033.
  • Market-level data on units, average selling prices, and market values.

Global, Regional and Country level market specific insights –

  • Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
  • SWOT analysis for COVID-19 Tests market.
  • Competitive dynamics insights and trends provided for COVID-19 Tests market.

Drive the understanding of the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.

  • Country-specific overview of the healthcare system.
  • Country-specific reimbursement policies.
  • Country-specific medtech regulatory landscape.

Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.

Companies covered: F. Hoffmann-La Roche Ltd, Abbott Laboratories, Hologic Inc, Becton Dickinson and Co, Luminex Corp, BioFire Diagnostics Inc, Cepheid Inc, Qiagen NV, PerkinElmer Inc, Thermo Fisher Scientific Inc, QuidelOrtho Corp, BGI Genomics Co Ltd, Altona Diagnostic GmbH, and Others.

Countries covered – United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina and Chile.

Scope

This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for

  • CMO executives who must have deep understanding of the COVID-19 Tests marketplace to make strategic planning and investment decisions.

  • Sourcing and procurement executives who must understand crucial components of the supply base in order to make decisions about supplier selection and management.

  • Private equity investors that need a deeper understanding of the market to identify and value potential investment targets.

Reasons to Buy

The model will enable you to –

  • Understand the impact of COVID-19 on COVID-19 Tests.

  • Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.

  • Develop business strategies by understanding the trends shaping and driving COVID-19 Tests.

  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the COVID-19 Tests market in the future.

  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.

  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.

  • Track device sales in the global and country-specific COVID-19 Tests market from 2015-2033.

  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.

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