Biopharma Research Ltd disclosed on Friday that new research report shows the largest companies in diagnostics earned the most from Covid-19 Testing and earned windfall profits as they able to scale up quickly to meet unprecedented demand for COVID-19 diagnostics in 2021.

The company said the report examines the post-pandemic future of COVID-19 testing and the wider implications for respiratory diagnostics.

Abbott Diagnostics, Thermo Fisher Scientific, Roche and a handful of other large companies took the lions share of revenue related to COVID -19 testing. The wholesale market alone reached nearly USD40bn in 2021.

Based on reports, about four billion tests were performed globally in 2021 creating the largest testing programme the world has ever seen. The largest companies were able to scale up quickly to meet demand, earning billions in additional revenues.

According to the company, the less dangerous Omicron variant proved to be highly communicable, causing rapid widespread infection across the globe and created unprecedented demand for COVID-19 testing in the final quarter of the year.