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The new report by Expert Market Research titled, ‘North America COVID-19 Diagnostics Market Size, Share, Price, Trends, Analysis, Report and Forecast 2021-2026’, gives an in-depth analysis of North America’s COVID-19 Diagnostics Market, assessing the market based on its segments like test type, product, sample type, business mode, end use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD xx Billion
• Forecast CAGR (2021-2026):
• Forecast Market Size (2026): USD xx Billion
As the world witnessed the COVID-19 pandemic, the demand for testing kits for the same rose all around. In North America too, the demand for COVID-19 diagnostic kits have surged as the need of the hour calls for it. The number of active cases in the United States was recorded to be the highest in the world as of March 2021 which has led to an exponential rise in desirability of COVID-19 diagnostic kits in the region. Testing helps in identifying infected people and start medication for them and also helps to safeguard the other people from catching the virus. In addition to this, countries have also implemented protocols for travelers visiting the country and those travelling within the country to get tested before the trip which is leading to an increasing demand for testing kits. Though, the demand for diagnostic kits is rising in recent times, on a long-term basis the market is expected to shrink with development vaccines and consequent immunization.
Industry Definition and Major Segments
COVID-19 diagnostics are used to identify a person who is coronavirus infected. Moreover, it measures their infection level, or if they have developed COVID-19 antibodies. The test for COVID-19 is of various types, such as RT PCR test, rapid antigen test, among others.
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By test type, the market is segmented into:
• PCR Test
• Antigen Test
• Antibody Test
• Others
The market, based on product, can be divided into:
• RT-PCR Assay Kits
• Immunoassay Test Strips
• Others
The market can be further segmented by sample type into:
• Nasopharyngeal Swab
• Oropharyngeal (OP) Swab
• Nasal Swab
• Blood Test
• Others
By business mode, the industry can be divided into:
• Point-of-Care (PoC) Testing
• Non-Point-of-Care (PoC) Testing
The industry can be differentiated by end use into:
• Hospitals
• Diagnostic Centres and Clinics
• Laboratories
• Others
The regional markets for the COVID-19 diagnostics in North America can be separated into:
• Canada
• United States of America.
Market Trends
The portability feature of testing kits has helped to test people on a wider scale. The demand of the diagnostic kits for COVID-19 is significantly high in North America due to large number of active cases and consequent fear transmission. The fluctuating trend of coronavirus prevalence has led to peak numbers multiple times which leads to greater needs of testing during such severe times. Moreover, the identification of various mutated forms of the virus has called for massive and frequent testing. Along the same lines, the government in North America has liberalized the regulations on diagnostic kits for COVID-19 to facilitate easy and wider testing. The government and the private players, both have also invested in research and development to invent more and more effective diagnostic kits, which is pushing the market higher.
Key Market Players
The major players in the market are Abbott Laboratories, Becton, Dickinson and Company, LuminUltra Technologies Ltd., Co-Diagnostics, Inc., CTK Biotech, Inc., Thermo Fisher Scientific Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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