COVID-19 Testing - Global Strategic Business Report

The global market for COVID-19 Testing was valued at US$16.3 Billion in 2024 and is projected to reach US$5.8 Billion by 2030, witnessing a CAGR of -15.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global COVID-19 Testing Market - Key Trends and Drivers Summarized

COVID-19 testing refers to the methods and processes used to determine whether a person is infected with the SARS-CoV-2 virus, which causes COVID-19. There are primarily two types of tests: diagnostic tests, which detect the presence of the virus itself, and serological tests, which identify antibodies produced in response to it, indicating past infection. Diagnostic tests include polymerase chain reaction (PCR) tests, which are highly accurate and are considered the gold standard for detecting the virus. Rapid antigen tests provide quicker results but are less accurate than PCR tests and are used primarily for screening purposes in high-throughput environments.

Throughout the pandemic, the landscape of COVID-19 testing has evolved rapidly to meet increasing demands and address various challenges. Innovations in testing technology have focused on increasing accuracy, reducing turnaround times, and enhancing accessibility. For instance, developments in point-of-care testing and at-home testing kits have allowed for broader testing outside traditional healthcare facilities. These advancements have enabled more extensive and frequent testing, which is crucial for tracking the spread of the virus and implementing timely isolation and treatment strategies. Moreover, as the virus mutates, ongoing research and adaptation in testing are necessary to ensure sensitivity to new variants, maintaining the reliability and effectiveness of tests.

The growth in the COVID-19 testing market is driven by several factors, including technological advancements, government policies, and changes in consumer behavior. Technological innovations have led to the development of faster, more accurate tests that can be deployed at scale, which are essential for managing outbreaks and facilitating safe social interactions. Government policies and funding have significantly influenced the market, with massive investments in testing infrastructure to support public health strategies. Additionally, public awareness and behavior have changed markedly during the pandemic; there is now a higher demand for personal health monitoring and preventive practices, which includes regular COVID-19 testing. This shift has encouraged continuous growth in the testing market, ensuring that it remains a critical component of global health.

Scope of the Study

The report analyzes the COVID-19 Testing market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments:

Product (RT-PCR Assay Kits, Immunoassay Test Strips/Cassettes); Specimen Type (Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab, Other Specimen Types); End-Use (Hospitals, Diagnostic Centers, Other End-Uses).

Geographic Regions/Countries:

World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Key Insights:

• Market Growth: Understand the trajectory of the RT-PCR Assay Kits segment, which is expected to reach US$3.9 Billion by 2030 with a CAGR of a -16.5%. The Immunoassay Test Strips/Cassettes segment is set to witness -13.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $4.2 Billion in 2024, and China, forecasted to witness -31.2% CAGR to reach $56.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Adaltis Srl, Alfa Scientific Designs, Inc., A*STAR Experimental Therapeutics Centre, AITbiotech Pte., Ltd., Altimmune, Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global COVID-19 Testing Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global COVID-19 Testing Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global COVID-19 Testing Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 547 major companies featured in this COVID-19 Testing market report include:

• Adaltis Srl
• Alfa Scientific Designs, Inc.
• A*STAR Experimental Therapeutics Centre
• AITbiotech Pte., Ltd.
• Altimmune, Inc.
• ADS Biotec, Inc.
• Accelerate Diagnostics, Inc.
• AccuBioTech Co., Ltd.
• Access Bio, Inc.
• Abwiz Bio Inc.
• AB Diagnostic Systems GmbH
• 1drop, Inc.
• 3B BlackBio Biotech India Ltd.
• Abacus Diagnostica Oy
• Aldatu Biosciences