COVID-19 Tests Market Size by Segments, Share, Regulatory, Reimbursement, and Forecast to 2033
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COVID-19 tests Market Report Overview
The COVID-19 tests market size was valued at $23.97 billion in 2023. The market will decline at a CAGR of more than 22%. COVID-19 tests are used to screen for and identify infections caused by the SARS-CoV-2- coronavirus, an emerging pathogen that was first discovered in China in the early 21st century. The COVID-19 test can be performed using point-of-care rapid testing, laboratory-based ELISA testing, or PCR.
COVID-19 Tests Market Outlook 2023-2033 ($ Billion)
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The COVID-19 tests market research report highlights the market behavior that will help identify quantitative market trends within in vitro diagnostics therapeutic areas. The report has extensively covered regional-wise quantitative data, highlighting the number of COVID-19 tests across labs, which will help in identifying untapped market opportunities. The COVID-19 tests market model also discusses the detailed impact of COVID-19 on the COVID-19 tests market for 2020 and beyond.
Market Size (2023) | $23.97 billion |
CAGR (2023-2033) | (22%) |
Historic Period | 2015-2022 |
Forecast Period | 2023-2033 |
Key Segments |
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Key Regions |
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Key Companies |
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COVID-19 Tests Market Dynamics
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. The machines used to run NAATs are widespread; furthermore, NAATs are easy to perform and highly scalable. Altogether, this positioned NAATs as the test of choice when the pandemic first began. POC NAATs are the next most used COVID-19 Test due to their rapid turnaround for results, although they contain a smaller installed base for machines and do not scale as well as traditional NAATs. Multiplex NAATs have a smaller market share largely due to cost.
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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). This segment is further sub-segmented into COVID-19 Laboratory Tests – Nucleic Acid Amplification Tests (NAATs), COVID-19 Multiplex Nucleic Acid Amplification Tests (NAATs), and COVID-19 Singleplex Nucleic Acid Amplification Tests (NAATs). Of these, COVID-19 Laboratory Tests – Nucleic Acid Amplification Tests (NAATs) led the market share in 2023. This sub-segment will dominate the market share throughout the forecast period.
COVID-19 Tests Market Analysis by Segments, 2023 (%)
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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 2023, Asia-Pacific emerged as the leading regional segment.
The APAC COVID-19 PCR Tests market is expected to sustain the incidence rate in Asia- the Pacific region following the end of this year. Due to the successful efforts of public vaccination campaigns, the COVID-19 PCR testing could present a graph plateauing shortly.
COVID-19 Tests Market Analysis by Regions, 2023 (%)
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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, Danaher Corp, Abbott Laboratories, Hologic Inc, and bioMerieux SA among others. In 2023, F. Hoffmann-La Roche Ltd accounted for the highest COVID-19 tests market share and value.
COVID-19 Tests Market Analysis by Companies, 2023 (%)
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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 Laboratory Tests – Nucleic Acid Amplification Tests (NAATs)
- COVID-19 Multiplex Nucleic Acid Amplification Tests (NAATs)
- COVID-19 Singleplex 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 the COVID-19 tests market.
- Competitive dynamics insights and trends provided for the COVID-19 tests market.
Get an in-depth understanding of consumer behavior through the market access segment and the overview of the healthcare system. The report also offers 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, the report helps determine market trends through real-world data sources including 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, Revvity 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. The model will benefit the following stakeholders:
- CMO executives who must have a deep understanding of the COVID-19 tests marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives 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
- 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.
Abbott Laboratories
Hologic Inc
Becton Dickinson and Co
Luminex Corp
BioFire Diagnostics Inc
Cepheid Inc
Qiagen NV
Revvity Inc
Thermo Fisher Scientific Inc
QuidelOrtho Corp
BGI Genomics Co Ltd
Altona Diagnostic GmbH
Others
Frequently asked questions
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What was the COVID-19 tests market size in 2023?
The COVID-19 tests market size was $23.97 billion in 2023.
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Which was the leading COVID-19 tests market sub-segment in 2023?
COVID-19 Laboratory Tests – Nucleic Acid Amplification Tests (NAATs) was the leading market sub-segment in the COVID-19 tests market in 2023.
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Which region held the largest share of the COVID-19 tests market in 2023?
Asia-Pacific was the largest regional market for COVID-19 tests in 2023.
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Which are the leading players in the COVID-19 tests market?
The key companies in the COVID-19 tests market are F. Hoffmann-La Roche Ltd, Danaher Corp, Abbott Laboratories, Hologic Inc, and bioMerieux SA among others.
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