As on May 2019, the total number of COVID-19 diagnostic tests conducted is around 15,523,605 out of which total of 1,976,191 cases were found positive. Total number of deaths were accounted to be around 1,25,984. The continuously growing number of patients globally is resulting in an increase in number of COVID-19 diagnostic tests conducted. Due to the outbreak of global pandemic COVID-19, there has been a certain increase in the export activities as developed countries are stocking up the diagnostic testing kits and other essential medicines.
According to MarkNtel Advisors’ research report titled “Global COVID-19 Diagnostic Testing Market Analysis, 2020”, the Global COVID-19 Diagnostic Testing market is anticipated to grow at a substantial CAGR during 2020-25.
Laboratories Conducting Testing for COVID-19
Continuously surging cases of COVID-19 is driving the need for the research labs to conduct COVID-19 diagnostic tests; thus, the research laboratories held the major market share in 2019. Some of the laboratories that are conducting diagnostics tests are China CDC, School of Public Health, University of Hong Kong, National public Health Laboratory (Singapore), etc. The demand for research laboratories is emanating and is further expected to boost in 2020. Moreover, CDC developing a serology test for SARS-CoV-2 is underway for identifying how much of the U.S. population has been exposed to severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19.
Development of Test Kits by Research Laboratories
Centers for Disease Control and Prevention (CDC) has developed a new laboratory test kit for use in testing patient specimens for severe acute respiratory syndrome coronavirus in February 2020. The test kit is called the “Centers for Disease Control and Prevention (CDC) 2019-Novel Coronavirus (2019-nCoV) Real-Time Reverse Transcriptase (RT)-PCR Diagnostic Panel.” This is planned for use with the Applied Biosystems 7500 Fast DX Real-Time PCR Instrument with SDS 1.4 software. This test is projected for use with upper and lower respiratory specimens collected from persons for COVID-19 testing. FDA has permitted the usage of test kits by CDC diagnostic panel in the United States.
The companies are providing online training courses on diagnostics for the COVID-19 response, hosted by FutureLearn. The courses are designed for Ministry of Health officials, laboratory professionals, clinicians and anyone involved in laboratory testing and diagnosis for COVID-19 in partnership with African Society for Laboratory Medicine (ASLM) and London School of Hygiene & Tropical Medicine (LSHTM).
According to MarkNtel Advisors, 3D Medicines, 3D Black Biotech India Ltd., Advanced Molecular Diagnostics, Acumen Research Laboratories, Aura Biotechnologies, Beijing Applied Biological Technologies, Bioeksen R&D Technologies, BioMerieux, Siemens, GE Healthcare are few of the leading players in the Global COVID-19 Diagnostic Testing Market.
“Global COVID-19 Diagnostic Testing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for COVID-19 Diagnostic Testing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Key questions answered in the study:
1. What are the current and future trends of the COVID-19 Diagnostic Testing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the COVID-19 Diagnostic Testing industry?
5. What are the customer orientation, purchase behavior, and expectations from the COVID-19 Diagnostic Testing firms across various regions?