COVID-19 Diagnostics Market Size Worth $7.26 Billion by 2034 | CAGR: -13.3%

The global COVID-19 diagnostics market size is expected to reach USD 7.26 billion by 2034, according to a new study by Polaris Market Research. The report “COVID-19 Diagnostics Market Size, Share, Trends, Industry Analysis Report: By Product Type (Reagents & Kits, Instruments, and Others), Sample Type, Test Type, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising COVID-19 diagnostics market demand is attributed to the need for effective testing solutions to manage global outbreaks, high demand for rapid and accurate testing, government initiatives to increase testing capacity, and advancements in diagnostic technologies. Opportunities exist in the growing adoption of at-home testing kits, the integration of AI and digital platforms for improved diagnostics, and the development of multiplex tests that can detect multiple infections at once.

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Emerging COVID-19 diagnostics market trends such as point-of-care testing and increasing focus on detecting new virus variants are shaping the market. Overall, the market is poised for continued growth as governments, healthcare organizations, and consumers seek efficient, accessible, and scalable testing solutions to combat the pandemic and prepare for future health challenges.

COVID-19 Diagnostics Market Report Highlights

• By product type, the reagents & kits segment holds the largest share of the COVID-19 diagnostics market revenue, driven by their essential role in widespread testing, especially for PCR and rapid antigen tests. The instruments segment is registering the highest growth, fueled by advancements in automated diagnostic systems and increasing demand for high-throughput testing solutions.
• Based on sample type, the swabs segment dominates the COVID-19 diagnostics market share. It is the primary method for collecting samples for molecular and antigen tests, particularly in clinical and public health settings. The blood samples segment is experiencing the highest growth, mainly due to the increasing use of antibody and serology tests for post-infection surveillance and immunity assessment.
• The molecular (RT-PCR) testing segment continues to dominate the market, regarded as the most accurate method for detecting active COVID-19 infections. However, the antigen-based testing segment is experiencing the highest growth, driven by its rapid result delivery and ease of use, especially in point-of-care and at-home settings.
• North America holds the largest market share, with strong healthcare infrastructure and high testing demand, particularly in the US. Asia Pacific is the highest-growing region, driven by the rapid scaling of testing efforts in densely populated countries such as India and China, alongside innovations in point-of-care testing solutions.

Polaris Market Research has segmented the COVID-19 diagnostics market report on the basis of product type, sample type, test type, and region:

By Product Type Outlook  (Revenue – USD Billion, 2020–2034)

• Reagents & Kits
• Instruments
• Others

By Sample Type Outlook  (Revenue – USD Billion, 2020–2034)

• Swabs
• Blood
• Others

By Test Type Outlook  (Revenue – USD Billion, 2020–2034)

• Molecular (RT-PCR) Testing
• Antigen-Based Testing
• Antibody (Serology)

By Regional Outlook  (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

COVID-19 Diagnostics Market Report Scope