US COVID-19 diagnostics market is estimated to see a decline in CAGR of 24.6% during the forecast period. The US is anticipated to hold considerable market for COVID-19 diagnostic owing to rapid increase in the number of diagnostic tests in the country coupled with growing number of cases on daily basis. However, post 2020, the demand for COVID-19 diagnostics is expected to decrease in the US. The US government is playing a crucial role in increasing the testing rate across the country. In June 2020, the US Congress had passed a legislation calling for health insurance coverage for COVID-19 testing to cope with a pandemic that has killed more than 115,000 people and infected over 2 million across the country. Moreover, the US government is supporting the COVID-19 diagnostic market by offering funding, grants, and awards to accelerate the number of COVID-19 testing across the country. In July 2020, the US Department of Health and Human Services (HHS) had made a large-scale procurement of FDA-authorized rapid point-of-care diagnostic test instruments and tests to be distributed to nursing homes in COVID-19 hotspot geographic areas within the US. This initiative was taken to facilitate the on-site testing among nursing home residents and staff. With this act, the nursing homes will be able to accelerate their current capacity for COVID-19 testing.
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US COVID-19 diagnostics market is segmented on the basis of technology type, end-use, sample type, and product type. By end-use, the COVID-19 diagnostic market is divided into laboratories, hospitals, diagnostic centers & clinics, and research institutes. By product type, the market is further segmented into instruments, reagents & kits, and laboratory testing services. By Sample type, the market is divided into oropharyngeal & nasopharyngeal swabs, blood, urine, saliva, and others. By technology type, the market is further segmented into PCR Test, Antigen Test, Serology Test, and Rapid/ PoC Test. Among these, the PCR segment has a major share in the COVID-19 diagnostics market. The factor that enhances the PCR test adoption includes a wide availability of tests and generation of the accurate results. However, due to its time consuming and expensive nature, these tests are substituted with other tests such as serology tests.
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The companies which are contributing to the growth of the US COVID-19 diagnostics market include Abbott Laboratories Inc., Quidel Corp., Thermo Fisher Scientific Inc., Laboratory Corp. of America Holdings, and PerkinElmer, Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market. For instance, in May 2020, Quidel Corp., provider of diagnosticits, had received EUA from the USFDA for its Sofia 2 SARS antigen test. The test uses advanced immunofluorescence-based lateral flow technology in a sandwich design for qualitative detection of nucleocapsid protein from SARS-CoV-2. The testing kit deliver results in 15 minutes.
Market Segmentation
US COVID-19 Diagnostics Market by Type
• Instruments
• Reagents & Kits
• Laboratory Testing Services
US COVID-19 Diagnostics Market by Technology Type
PCR Test
Antigen Test
• Chromatographic Immunoassay
• Fluorescent Immunoassay
• Chemiluminescent Immunoassay
Serology Test
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Neutralization
• Chemiluminescent Immunoassay
Rapid/ PoC Test
• US COVID-19 Diagnostics Market by Sample Type
• Oropharyngeal & Nasopharyngeal Swabs
• Blood
• Urine
• Saliva
• Others (Sperm)
US COVID-19 Diagnostics Market by End-Users
• Laboratories
• Hospitals
• Diagnostic Centers & Clinics
• Research Institutes
Company Profiles
• Abbott Laboratories Inc.
• Beckman Coulter, Inc.
• Cellex Inc.
• Cepheid Inc.
• Chembio Diagnostics Systems Inc.
• Epitope Diagnostics, Inc.
• Hologic Inc.
• Laboratory Corp. of America Holdings
• Luminex Corp.
• PerkinElmer, Inc.
• Quidel Corp.
• Thermo Fisher Scientific, Inc.
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