Diagnostic labs pin hopes on Covid-19 test bouquets to revive revenues

Non-Covid revenues are back to 80% of Jan levels. Some expect demand to be 1.2 times pre-Covid level by Diwali

Diagnostic companies are pinning hopes on a bouquet of Covid-19 tests as a steady stream of revenue for not just the coming quarters. Non-Covid revenues, laboratories (labs) claimed, are back to 80 per cent of January levels.

“Covid-19 tests are already part of our 500-tests portfolio,” said A Velumani, promoter, chairman and managing director (MD), Thyrocare Technologies. The lab chain saw revenue from wellness-related tests decline in the first quarter. Analysts felt only sickness-related testing was likely to see steady demand.

The bouquet of Covid-19 tests that most diagnostic labs are offering include antibody tests (blood tests), rapid antigen tests