Global COVID-19 Testing Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global COVID-19 Testing Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

COVID-19 testing refers to the various methods and techniques used to determine whether an individual is infected with the SARS-CoV-2 virus, which is responsible for the COVID-19 disease. Testing is a critical component of controlling the spread of the virus and identifying and isolating individuals who are infected. Testing saves lives. Testing of all people for SARS-CoV-2, including those who have no symptoms, who show symptoms of infection such as trouble breathing, fever, sore throat, or loss of the sense of smell and taste, and who may have been exposed to the virus will help prevent the spread of COVID-19 by identifying people who are in need of care in a timely fashion.

Market Overview:

The latest research study on the global COVID-19 Testing market finds that the global COVID-19 Testing market reached a value of USD 34055.49 million in 2023. It’s expected that the market will achieve USD 2456.16 million by 2029, exhibiting a CAGR of -35.48% during the forecast period.

ABBOTT TO ACQUIRE CARDIOVASCULAR SYSTEMS, INC.

Feb. 8, 2023- Abbott and Cardiovascular Systems, Inc. (CSI), today announced a definitive agreement for Abbott to acquire CSI, a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease. Under terms of the agreement, CSI stockholders will receive $20 per common share at a total expected equity value of approximately $890 million.

Roche to acquire biopharma firm Good Therapeutics for $250m

September 8, 2022- Roche has signed a definitive merger agreement for the acquisition of US-based biopharmaceutical company Good Therapeutics for an upfront payment of $250m in cash. Good Therapeutics focuses on the development of PD-1-regulated IL-2 drugs that are based on innovative conditionally active drug technology. With the takeover, Roche will attain rights to a conditionally active, PD-1-regulated IL-2 programme of Good Therapeutics.

Rising Prevalence of Coronavirus Disease

Rising Prevalence of Coronavirus Disease to Fuel Demand for COVID-19 Testing. Even though the epidemic has stabilized generally, the number of people in the world infected with the new crown is actually growing. With the onset of winter, there may be an increase in the number of confirmed diagnoses. which will drive the COVID-19 Testing market growth.

Testing is more advantageous

COVID-19 Testing can identify previously infected individuals who are asymptomatic. This information is essential for guiding transmission control measures such as quarantine, isolation, and social distancing, as well as the closure of schools, places of worship, and businesses. Another benefit of COVID-19 testing is that it can aid in vaccine development and efficacy.

Region Overview:

In 2022, the share of the COVID-19 Testing market in Asia Pacific stood at 39.88%.

Company Overview:

Abbot Laboratories is one of the major players operating in the COVID-19 Testing market, holding a share of 19.72% in 2023.

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals business into AbbVie in 2013.

Segmentation Overview:

Among different product types, Rapid Diagnostic Test (RDT) segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospital segment occupied the biggest share from 2018 to 2022.

Key Companies in the global COVID-19 Testing market covered in Chapter 3:

Randox
Zhejiang Orient Gene Biotech Co., LTD
F. Hoffmann-La Roche AG
Siemens Healthineers AG
BD
Cepheid Inc.
Abbot Laboratories
Shenzhen Bioeasy Biotechnology Co., Ltd
Primerdesign Ltd
Cellex
BioFire Defense
Chembio Diagnostic Systems, Inc.
Thermo Fisher Scientific
Co-Diagnostics Inc.
QIAGEN N.V.
Quidel Ortho

In Chapter 4 and Chapter 14.2, on the basis of types, the COVID-19 Testing market from 2019 to 2030 is primarily split into:

Rapid Diagnostic Test (RDT)
Enzyme Linked Immunosorbent Assay (ELISA)
Neutralization Assay
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the COVID-19 Testing market from 2019 to 2030 covers:

Home
Hospital
Clinical
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)