Global Rapid Diagnostic Kits Market Share - Segmented by Technology (Flow Through, Solid Phase, Lateral Flow, and Agglutination Assays), Application, and Geography - Growth, Trends, and Forecast (2022-2030)
The rapid diagnostic kits market is expected to register a CAGR of 5.8%. The increasing incidence of the cardiovascular diseases, sexually transmitted diseases, diabetes, infectious diseases, hepatitis, and gastrointestinal diseases is driving the rapid diagnostic kits market.
Increase in Demand for Rapid Diagnostic Tests in Decentralized Settings Boosts the Growth of the Market
The rapidly growing medical diagnostics industry and high demand for the preventive management of infectious diseases caused by viruses and bacteria, worldwide, are some of the factors that are contributing to the growth of the rapid diagnostic testing kits market. In 2010, the WHO began to recommend the confirmation of all suspected malaria cases by microscopy or rapid diagnostic tests before treatment, and subsequently, WHO and the Roll Back Malaria Partnership set ambitious targets to achieve universal access to testing for all patients suspected of having malaria. As a result, there has been a rapid increase in diagnostic testing for malaria in recent years, primarily driven by the uptake of rapid diagnostic tests in the public sector.
The other driving factors also include rising awareness regarding early diagnosis among people and a shift in the technological and commercial environment.
Failure to Eliminate the Need for Microscopy Diagnosis Restrains the Market
Light microscopy is still being recommended for diagnosis to guide the clinical management of malaria, despite difficult challenges in rural settings. Microscopy and rapid diagnostic tests has provided effective surveillance for malaria control, and thus, it has been difficult to eliminate microscopy devices, which acts as a restraining factor for the growth of the rapid diagnostic kits market.
Yet another factor that could restrain the market is the lack of awareness regarding newer rapid diagnostic tests.
North America Dominates the Rapid Diagnostic Kits Market
North America is expected to dominate the overall market, throughout the forecast period. The presence of high per capita healthcare expenditure, coupled with high patient awareness levels, and the high prevalence of target diseases are some of the factors contributing to the growth of the market in the region. In Asia-Pacific, the rapid diagnostic kits market is expected to witness a remarkable boost, due to the growing prevalence of diseases and rising awareness about diagnostic kits among consumers.
Key Developments in the Rapid Diagnostic Kits Market
May 2017: ACON Laboratories announced FDA clearance of the mission microalbumin/creatinine urine reagent strips.
Nov 2017: Innovus Pharma announced an Agreement with ACON Laboratories Inc. ACON Labs is a San Diego-based diagnostic product manufacturer, who will supply Innovus Pharma with its US FDA-cleared urinary tract infection (UTI) test strips.
Rapid Diagnostic Kits Market Major Players:
Abbott Laboratories Inc.
AccuTech LLC
ACON Laboratories Inc.
Alfa Scientific Designs Inc.
Artron Laboratories Inc.
Becton, Dickinson and Company
BTNX Inc.
Creative Diagnostics
McKesson Medical-Surgical Inc.
Meridian Bioscience Inc.
Reasons to Purchase the Rapid Diagnostic Kits Market Report
Current and future global outlook for the rapid diagnostic kits market in the developed and emerging markets
Analysis of various perspectives of the market, with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identification of the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Rapid Diagnostic Kits Market Report
This report can be customized to meet your requirements. Please contact our representative, who will ensure that you get a report that suits your needs.
Increase in Demand for Rapid Diagnostic Tests in Decentralized Settings Boosts the Growth of the Market
The rapidly growing medical diagnostics industry and high demand for the preventive management of infectious diseases caused by viruses and bacteria, worldwide, are some of the factors that are contributing to the growth of the rapid diagnostic testing kits market. In 2010, the WHO began to recommend the confirmation of all suspected malaria cases by microscopy or rapid diagnostic tests before treatment, and subsequently, WHO and the Roll Back Malaria Partnership set ambitious targets to achieve universal access to testing for all patients suspected of having malaria. As a result, there has been a rapid increase in diagnostic testing for malaria in recent years, primarily driven by the uptake of rapid diagnostic tests in the public sector.
The other driving factors also include rising awareness regarding early diagnosis among people and a shift in the technological and commercial environment.
Failure to Eliminate the Need for Microscopy Diagnosis Restrains the Market
Light microscopy is still being recommended for diagnosis to guide the clinical management of malaria, despite difficult challenges in rural settings. Microscopy and rapid diagnostic tests has provided effective surveillance for malaria control, and thus, it has been difficult to eliminate microscopy devices, which acts as a restraining factor for the growth of the rapid diagnostic kits market.
Yet another factor that could restrain the market is the lack of awareness regarding newer rapid diagnostic tests.
North America Dominates the Rapid Diagnostic Kits Market
North America is expected to dominate the overall market, throughout the forecast period. The presence of high per capita healthcare expenditure, coupled with high patient awareness levels, and the high prevalence of target diseases are some of the factors contributing to the growth of the market in the region. In Asia-Pacific, the rapid diagnostic kits market is expected to witness a remarkable boost, due to the growing prevalence of diseases and rising awareness about diagnostic kits among consumers.
Key Developments in the Rapid Diagnostic Kits Market
May 2017: ACON Laboratories announced FDA clearance of the mission microalbumin/creatinine urine reagent strips.
Nov 2017: Innovus Pharma announced an Agreement with ACON Laboratories Inc. ACON Labs is a San Diego-based diagnostic product manufacturer, who will supply Innovus Pharma with its US FDA-cleared urinary tract infection (UTI) test strips.
Rapid Diagnostic Kits Market Major Players:
Abbott Laboratories Inc.
AccuTech LLC
ACON Laboratories Inc.
Alfa Scientific Designs Inc.
Artron Laboratories Inc.
Becton, Dickinson and Company
BTNX Inc.
Creative Diagnostics
McKesson Medical-Surgical Inc.
Meridian Bioscience Inc.
Reasons to Purchase the Rapid Diagnostic Kits Market Report
Current and future global outlook for the rapid diagnostic kits market in the developed and emerging markets
Analysis of various perspectives of the market, with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identification of the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Rapid Diagnostic Kits Market Report
This report can be customized to meet your requirements. Please contact our representative, who will ensure that you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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