U.S. Covid-19 Diagnostics Market Size & Outlook, 2023-2030
U.S. covid-19 diagnostics market, 2020-2030 (US$M)
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U.S. covid-19 diagnostics market highlights
- The U.S. covid-19 diagnostics market generated a revenue of USD 10,047.1 million in 2023 and is expected to reach USD 2,106.0 million by 2030.
- The U.S. market is expected to grow at a CAGR of -20% from 2024 to 2030.
- In terms of segment, reagents & kits was the largest revenue generating product in 2023.
- Reagents & Kits is the most lucrative product segment registering the fastest growth during the forecast period.
Covid-19 diagnostics market data book summary
| Market revenue in 2023 | USD 10,047.1 million |
| Market revenue in 2030 | USD 2,106.0 million |
| Growth rate | -20% (CAGR from 2023 to 2030) |
| Largest segment | Reagents & kits |
| Fastest growing segment | Reagents & Kits |
| Historical data | 2020 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents & Kits, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, Hologic Inc, Roche, PerkinElmer, Veredus Laboratories, QuidelOrtho Corp, Quest Diagnostics Inc, Luminex, Labcorp Holdings Inc, Abbott Laboratories, 1Drop Diagnostics, ADT Inc, Mylab Discovery Solutions, Neuberg Diagnostics, Aldatu Biosciences, altona Diagnostics GmbH |
Other key industry trends
- In terms of revenue, U.S. accounted for 30.4% of the global covid-19 diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. covid-19 diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 82.8 million by 2030.
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COVID-19 Diagnostics Market Scope
COVID-19 Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. covid-19 diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to covid-19 diagnostics market will help companies and investors design strategic landscapes.
Reagents & kits was the largest segment with a revenue share of 67.06% in 2023. Horizon Databook has segmented the U.S. covid-19 diagnostics market based on instruments, reagents & kits, services covering the revenue growth of each sub-segment from 2020 to 2030.
The U.S. dominated the market in North America with more than 94.8% of the revenue share generated by the region in 2021. Increase in COVID-19 cases, coupled with continuous approvals for diagnostic tests manufactured by key players, is the major factor driving this market.
According to WHO, from January 2020 to June 2022, there are 85,542,508 confirmed cases in the country, with 1,004,390 deaths. The presence of key laboratories, such as Quest Diagnostics and Laboratory Corporation of America (LabCorp), has strengthened the country's COVID-19 diagnostics market.
As of June 2021, Quest Diagnostics performed around 41.8 million COVID-19 molecular diagnostic tests and nearly 6.2 million COVID-19 antibody tests. In March 2021, the U.S. started serial testing for COVID 19.
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Target buyers of U.S. covid-19 diagnostics market databook
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Our clientele includes a mix of covid-19 diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. covid-19 diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into U.S. covid-19 diagnostics market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. covid-19 diagnostics market size, by product, 2020-2030 (US$M)
U.S. COVID-19 Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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