Covid-19 Diagnostics Industry: Insights & Developments 2022

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According to AllTheResearch firm, with the increasing awareness about point-of-care diagnostic procedures, growing prevalence of coronavirus, and increasing investments by public and private companies for research and development for covid-19 diagnostic procedures, the global covid-19 diag

Diagnosis is process of identifying, determining, analysing, and reporting the disease or abnormal condition of the patient with specific signs and symptoms. Covid-19 diagnostics are the preliminary diagnostics procedures that are performed to check whether the patient is infected or not.

According to AllTheResearch firm, with the increasing awareness about point-of-care diagnostic procedures, growing prevalence of coronavirus, and increasing investments by public and private companies for research and development for covid-19 diagnostic procedures, the global covid-19 diagnostics industry is projected to grow by 3.0%. Furthermore, increasing demand for early diagnostics methodologies, growing awareness regarding treatment reimbursements policies, and surge for development of more precise diagnostics treatment are expected to accelerate the market growth. Additionally, growing advances in diagnostics technologies, companies gaining attention towards novel covid-19 disease management, and increasing digitalization in medical diagnostics technologies.   

Presently, various pharmaceutical and medical devices companies are focusing on the development of more innovative and precise covid-19 diagnostics kits to fight against this pandemic. Various kits such as 1COPY COVID-19 QPCR KIT by Luminarie Canada Inc, Alinity m SARS-CoV-2 AMP Kit by Abbott Molecular, RealStar® SARS-CoV-2 RT-PCR Kit U.S. by Altona Diagnostics GmbH are among others. Based on products, instrument is the fastest-growing segment in the covid-19 diagnostics market.

In 2021, major players such as Abbott, Siemens Healthineers, F. Hoffmann-La Roche, Thermo Fisher Scientific, Danaher, Bio-Rad Laboratories, Qiagen, Quest Diagnostics, and Perkin Elmer Inc. launched different covid-19 diagnostics kits to diagnose covid-19 variants across the globe. Governments’ support by giving funding and grants for research development and market players’ investment for developing commercialization of equipment which is projected to grow this market further in the coming years.

Growing patient population, rising need for rapid diagnostics testing procedures and increasing demand for single use diagnostics test kits are the factors driving the growth of the market across the world. Moreover, a growing upgradation and launch in diagnostic kits and upsurge for covid-19 diagnostics kits and reagents is expected to boost the growth of global covid-19 diagnostics market during the forecast period. The global covid-19 diagnostics market is fragmented with the presence of multiple regional and international players.

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Some of the dominant players operating in the covid-19 diagnostics industry are

Perkin Elmer Inc., Quidel Corporation, BioMerieuxSA, Sysmex Corporation, Philips Healthcare, GE Healthcare, Serum Institute of India Pvt Ltd and Randox Laboratories are among others.  

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