Covid-19 Diagnostics Have Picked up Momentum- Explore the Scenario

Surge in the number of patients across the world has led to increasing demand of rapid diagnostics. Especially, inaccessibility of definite vaccines or medicines has propelled the market growth in several ways, when endless manufacturers of diagnostic tools and kits have also been highly benefitted. The local players have come forward in search of immense opportunities by bringing forth diagnostic assays. As for instance, after the National Institute of Virology authenticated and legalized their test, Mylab, India has recently acquired consent by the Drug Controller of India for upgraded Covid-19 diagnostic implements.

Following are the ways how the Covid-19 diagnostics market has received a significant boost-

• Increasing demand for COVID-19 diagnostic tools has certainly propelled further with the rising number of Covid infected patients, especially after the lockdown measures were eased down across the world. 
• Transitioning effort of new competitors and market players toward at-home convenient testing and incorporation of high-end software have been observed in the last few months. This, in turn, has heightened patient expediency as opposed to onerous lab-based testing.

For example, Switch Health, one such new player, provides mobile services for business as well as at-home testing. The mobile rapid testing units at the venture had set up more than thirty mobile units for easy diagnosis of people with the virus on September 2020.

At the same time, these testing programs are all set to smoothen the path for the travel industry to wind down, turning out a favorable setting for the bodies operating in the market. The outbreak of the pandemic impacted the tourism sector badly, which has now given way to a steep increase in the initiatives for Covid-19 testing, mainly in countries, the economy of which is highly reliant on tourism. 

According to Allied Market Research, the global Covid-19 diagnostics market is projected to grow at a significant CAGR from 2020 to 2022. At the same time, the majority of hospitals have consolidated their laboratory operations into one core capability, instead of conveying specimens to different places. Several organizations are instigating products appropriate for laboratory-based COVID-testing, such as Perkin Elmer and Quest Diagnostics. Back in September 2020,

Eurofins Diatherix came up with the Flu Plus test that can be utilized through an array end-use settings including clinics, hospitals, and labs for easy detection of COVID-19. PoC tests are also projected to gain huge momentum in the future.

Business ventures such as Labcorp and Quest Diagnostics are emphasizing on the belligerent growth of capacity and are also putting more efforts toward the return-to-work testing industry by means of employer-focused aids for COVID-19 testing. For example, in October 2020, Quest Diagnostics again brought forth a pilot scheme for drone delivery of COVID-19 at-home self-done assays to households with single family in the Cheektowaga province. 

To conclude, it can be stated that the global Covid-19 diagnostics market is snowballing at a rapid pace, and this drift is quietly likely to continue till the pandemic is completely over.
 

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