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.

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.

Research Methodology

The market study of the US COVID-19 diagnostics market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

Market Segmentation

• US COVID-19 Diagnostics Market Research and Analysis by Type
• US COVID-19 Diagnostics Market Research and Analysis by Technology Type
• US COVID-19 Diagnostics Market Research and Analysis by Sample Type
• US COVID-19 Diagnostics Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the US COVID-19 diagnostics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US COVID-19 diagnostics market.
• Insights about market determinants which are stimulating the US COVID-19 diagnostics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.