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What Impacted COVID-19 on Molecular Diagnostics Market ?


Impact of COVID-19 on Molecular Diagnostics in Healthcare Industry
The COVID-19 pandemic has affected the molecular diagnostics market positively on a global level. The persistence of COVID-19 for a longer period has increased the need for molecular diagnostic tools and instruments to diagnose certain diseases, especially the COVID-19 virus. During the COVID-19 pandemic, manufacturers expect a boost in their market as demand for instruments such as PCR or real-time PCR or COVID-19 test kits has increased with the spread of coronavirus. The increasing demand for molecular diagnostics instruments, tools, kits, software, and services will propel the growth of the global molecular diagnostics market. The COVID-19 has led to the lockdown worldwide, which has tremendously impacted the molecular diagnostics market.
Moreover, the coronavirus is life-threatening, and proper diagnosis on time has become important and molecular diagnostics are the solution for that. COVID-19 is a contagious disease and can be spread easily via droplet particles. The necessity for the diagnosis of positive cases has increased to ensure prompt care of the affected individual and to curb the further spread of coronavirus in the population. RT-PCR is an important molecular diagnostic instrument that is used to detect SARS-CoV-2. Hence, with the ongoing COVID-19 pandemic, the demand for molecular diagnostics has increased tremendously and will boost the growth of the market.

STRATEGIC INITIATIVES BY MANUFACTURERS
The rising demand for molecular diagnostics tools, services, instruments and others has led the manufacturers to launch new products in the market for different diseases even during COVID-19 time. Additionally, manufacturers partner with other companies to launch new technology or products or acquire them or merge with them. All these strategies opted by manufacturers is to gain more market share in the market.
• In March 2021, Hologic, Inc. acquired diagenode, a molecular diagnostic assay and epigenetics product manufacturer for USD 159 million.
• In April 2021, QIAGEN partnered with DiaSorin to launch LIAISON LymeDetect Assay for early diagnosis of Lyme Borreliois. It is based on QantiFERON technology.
• In June 2020, Myriad Genetics, Inc. launched AMPLIFY Technology to increase the performance of Prequel NIPS Kit, which is used in prenatal screening.
• In March 2021, F. Hoffmann-La Roche Ltd signed a merger agreement with GenMark Diagnostics, Inc. To access their novel technology to test for a broad range of pathogen from single patient sample.
• In October 2020, Meridian Bioscience launched a complete solution to support liquid biopsy cancer diagnostics, as it allows direct RNA and DNA detection from liquid biopsy samples such as whole blood.
The increasing number of launches, mergers, acquisitions, and partnerships by manufacturers to develop new molecular diagnostics products, services, or technologies to fulfill the rising demand for molecular diagnostics will boost the market's growth.

AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVES FOR GROWTH OF THE MARKET
The COVID-19 outbreak has become a global public health emergency, and it has increased the need for accurate and rapid molecular diagnostic technology for screening, treatment, isolation, prevention, and control of COVID-19. The demand for primary diagnostic tools that detect antigens or antibodies specific to SARS-CoV-2 infection via nucleic acid detection technique or rapid diagnostic tests has increased. Moreover, the cases for COVID-19 are increasing tremendously, increasing the demand for molecular diagnostics tools, services, and instruments to provide proper diagnosis and treatment to control the spread of COVID-19. Hence, the professionals are also looking out for the technologies, tools, and kits to detect the diseases and treat patients on time. Even after the COVID-19, the molecular diagnostics market will propel globally to treat and diagnose different diseases like cancers efficiently and on time. With the COVID-19 pandemic, the government also gets little concerned about introducing molecular diagnostics tools in the market.
For instance,
• In August 2020, According to Spandidos Publications, China National Medical Products Administration opened a special channel to approve new pharmaceuticals for urgent clinical needs and 18 nucleic acid detection kits, one sequencing-related equipment, 11 protein detection kits, and software have been approved until April 23, 2020.
• In March 2020, Cepheid received Emergency Use Authorization (EUA) from the U.S. Food & drug Administration (FDA) for their product-Xpert Xpress SARS-CoV-2, a molecular diagnostic test for detection of SARS-CoV virus.
The COVID-19 pandemic has increased the demand for molecular diagnostics to provide proper screening, diagnosis, and treatments for COVID-19.

IMPACT ON DEMAND
With the ongoing pandemic, the demand for molecular diagnostics products and services has increased. The cases for COVID-19 patients are rapidly increasing, creating a great opportunity for the molecular diagnostics market. To stop the spread of COVID-19 and to treat positive patients, proper diagnosis and treatment are required, which can only be possible through molecular diagnostics instruments, services, software, and others. People suffering from other diseases apart from COVID-19, such as cancer, also require proper medical attention and treatment, increasing the demand for the molecular diagnostics market worldwide. PCR and RT-PCR are some of the important diagnostic instruments required to diagnose positive patients properly. Rising people suffering from COVID-19 and increasing demand for molecular diagnostics enable manufacturers to properly launch proper kits and instruments to detect COVID-19.
For instance,
• In March 2021, Quidel Corporation expanded its manufacturing facility in California, U.S., to produce Quidel’s popular QuickVue line of products, which helps detect and diagnose COVID-19 infection.
• In May 2021, Beckman Coulter, Inc. launched a fully automated and quantitative COVID-19 IgG Test to assess the number of antibodies of COVID-19.
• In December 2020, Beckman Coulter, Inc., launched the Access SARS-CoV-2 Antigen assay, a cost-effective and high-throughput COVID-19 test, which is ideal for mass testing in the U.S.
• In April 2020, Bio-Rad Laboratories, Inc. launched a serology assay to detect COVID-19 antibodies.
• In June 2020, Cepheid announced the development of the next-generation test of the Four-in-One combination test for SARS-CoV-2, Flu A, Flu B, and RSV. The XpertSource: Company Website, Press Releases, DBMR Analysis Xpress SARS-CoV-2/Flu/RSV helps in the detection of 4 viruses from a single patient sample.
• In September 2020, QIAGEN launched QIAreach SARS-CoV-2 Antigen Test, which analysis the antigen in less than 15 minutes. This new product launch helps in detecting the COVID-19 virus at a much faster rate.
The rising number of launches for COVID-19 test kits and molecular diagnostics tools by manufacturers to offer rapid and accurate analysis of the COVID-19 virus will boost the global molecular diagnostics market growth. Moreover, the demand for molecular diagnostics will be increasing even after COVID-19 to cure and diagnose other diseases.

IMPACT ON PRICE
The molecular diagnostics instruments are costly as the reagents' needs for it or any other supplies are on the higher side, making the total service costlier. Also, the research and manufacturing of molecular diagnostics products are tedious and time-consuming, making the instrument expensive. Furthermore, instruments, laboratory supervision, utility, space, and supervision ads up to additional prices. The high cost of instrumentation and services for molecular diagnostics makes it hard to afford for lower-class families, restricting the market's growth. Moreover, during a pandemic, the demand for molecular diagnostics products, especially PCR machines, real-time PCR (qPCR) machines, and others, has increased and with rising demand, the prices for services and instruments has also increased.

IMPACT ON SUPPLY CHAIN
The supply chain for molecular diagnostic tools has decreased initially during COVID-19 as the governmental body has posed restrictions on movements, imports, and export of goods. But with the growing demand and increasing need to diagnose COVID-19 patients and other patients suffering from different diseases such as cancer or infectious diseases, the supply of instruments has increased. With the restriction on movements, the manufacturers could not make instruments and couldn’t export or import the molecular diagnostics tools from one country to another because of restrictions on goods. But after the lockdown is lifted, the supply chain for molecular diagnostics has taken a toll as the need for diagnosis has increased, which ultimately increased the supply for molecular diagnostics instruments, tools, kits, and others.

THE RISING COVID-19 CASES ARE LEADING THE MOLECULAR DIAGNOSTICS MARKET.
The rising number of COVID-19 patients is increasing the need for molecular diagnostics instruments and services for proper diagnosis and treatment, which will boost market growth in the future. Also, molecular diagnostics are the primary diagnostic tools for rapid and accurate diagnosis and for the screening, isolation, treatment, prevention, and control of COVID 19. The rise in prevalence of COVID-19 cases is the main factor boosting the growth of the market.
For instance,
• In July 2021, According to World meters, there are 30,619,932 cases of COVID-19 in India.
• In July 2021, According to World Health Organisation (WHO), there are 183,700,343 confirmed cases of COVID-19 patients worldwide.
• In January 2020, According to World Health Organisation (WHO), there are 33,378,240 confirmed cases in the U.S.
The rise in COVID-19 cases and its proper diagnosis increases the demand for molecular diagnostics.

CONCLUSION
COVID-19 pandemic has affected the molecular diagnostics market positively. The demand for molecular diagnostics instruments, especially detection kits, PCR and RT-PCR has increased to detect the COVID-19 in patients properly. This factor will boost the growth of the market. During the COVID-19 outbreak, the government also took initiatives to approve diagnostics kits that are urgent and are needed to curb the pandemic situation. The rising need for the proper, rapid, and accurate diagnosis will propel market growth globally. Moreover, the incidence of COVID-19 has increased tremendously, which will propel market growth. Therefore, the need for molecular diagnostics to offer proper treatment to the patient has increased, and the market is expected to boost post-COVID-19 as well.
Read more COVID-19 Impacts on different types of Market

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