COVID-19 Market Will Reach 38 Billion by End of Year, Kalorama Finds

ARLINGTON, Va., Feb. 25, 2021 /PRNewswire/ --A IVD market researcher Kalorama Information has published its first assessment of the COVID-19 market since last year. The firm forecasts the market growing to $38 billion by year's end. This is according to Kalorama's COVID-19 Testing Update 2021: Molecular & Antigen Markets, Procedures, Mutations, Home Tests, and Other Trends.
COVID-19 Market Will Reach 38 Billion by End of Year, Kalorama Finds
While there are hundreds of test products, many in small batches or serving regional markets, less than twenty IVD test firms earn most of this revenue, Kalorama finds - including the top two firms Roche Diagnostics and Abbott Diagnostics. Thermo Fisher's TaqPath is one of the most commonly used kits. Cepheid and bioMerieux have small footprint systems that are proving useful in the pandemic. Becton Dickinson and Quidel are antigen players, longtime competitors in flu testing that have applied those systems to COVID-19 tests. Other companies of significance include Bio-Rad, Siemens Healthineers, Ortho Clinical Diagnostics, Illumina, BGI, Seegene, Qiagen and DiaSorin.This is the firm's fourth study of the market, based on financial reporting from companies and triangulated analysis. Kalorama has adjusted its forecasts over time as new company reporting has come in. The firm says not only are company revenues increasing because of the volume of testing demand, but the pandemic is pushing forward trends of point-of-care and at-home testing, improved throughput and sample collection.
"Last year, the question for diagnostic companies was how many tests they could get out the door,'" said Bruce Carlson, Publisher of Kalorama Information. "Now it's shifting to what innovation they can make, what angle will separate our approach for meaningful value-add."
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