Rapid Diagnostics Market, By Product (Consumables and Instruments/Analysers), By Prescription (Professional Diagnostics and At-Home/OTC-Based Testing), By Application (Blood Glucose Testing, Cardiometabolic Testing, Infectious Disease Testing, Blood Coagulation Testing, Haematology Testing, Cancer Testing, Drug of Abuse Testing, and Pregnancy and Fertility/Ovulation Testing), By End User (Hospitals and Clinics, Laboratories, Individuals/Home Healthcare Settings, and Others), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The global Rapid Diagnostics market size was estimated at USD 35.8 billion in 2023 and is projected to reach USD 79.14 billion in 2030 at a CAGR of 12% during the forecast period 2024-2030.
Get Free Sample Report: https://www.delvens.com/get-free-sample/rapid-diagnostics-market
The rapid diagnostics market has experienced significant growth, largely catalyzed by the COVID-19 pandemic and the subsequent surge in demand for accurate and accessible diagnostic testing. Rapid diagnostic tests have proven crucial in various settings, including home care and point-of-care environments, for timely identification and management of COVID-19 cases. Governments worldwide have implemented robust testing strategies, emphasizing the use of rapid diagnostics to detect infections early and mitigate transmission risks.
Market players and government agencies have responded with substantial investments in research and development, leading to the rapid launch of innovative products tailored to meet the escalating global demand for broad-scale testing. These efforts have bolstered the market's expansion, driven by the need for affordable and accurate diagnostic solutions.
The point-of-care rapid diagnostics market encompasses a diverse range of testing tools, including glucose monitoring kits, pregnancy and fertility testing kits, infectious disease testing kits, urinalysis testing kits, haematological testing kits, and cardiometabolic monitoring kits, among others. These tools find application in hospitals, professional clinics, and private residences, supporting rapid and convenient diagnostic testing outside traditional laboratory settings.
Companies Profiled:
Abbott Laboratories, bioMérieux, Danaher Corporation, Thermo Fisher Scientific, Siemens Healthineers, Becton Dickinson, Quidel Corporation, Roche, Quest Diagnostics, Sysmex Corporation, Qiagen, Chembio Diagnostics, Cepheid, Myriad Genetics, Meridian Bioscience Inc., Arkray, Biocartis, EKF Diagnostics Holdings, Beacon Diagnostics, and Applaud Medical.
Key Findings
· On the basis of Product, this segment is projected to lead the global rapid diagnostics market throughout the forecast period, driven by the increasing burden of chronic diseases. Consumables play a critical role in obtaining rapid and accurate diagnostic results for a wide range of acute and chronic conditions. This dominance reflects the growing reliance on consumable products such as test kits, reagents, and assay components in healthcare settings globally.
· On the basis of Application, in 2023, infectious disease testing led the market with 45% revenue share, driven by the urgent demand for COVID-19 diagnostic solutions during the pandemic. Countries globally, including the U.S., Brazil, and India, reported high COVID-19 cases, prompting widespread mass testing efforts. Concurrently, the blood glucose testing segment is poised for rapid growth, fuelled by increased adoption in healthcare settings for prompt cholesterol level measurements.
· On the basis of End User, in 2023, the hospitals & clinics segment is expected to dominate the rapid diagnostics market, primarily due to the growing number of patient visits seeking a wide range of healthcare services. These include diagnostics, treatments, and surgeries facilitated by well-equipped facilities, highly skilled healthcare professionals, easy accessibility, and comprehensive health coverage from private and group insurance plans.
Get Complete Info@ https://www.delvens.com/report/rapid-diagnostics-market
Regional Analysis
North America to Dominate the Market
North America is expected to lead the market, driven by increasing chronic and infectious diseases, demand for point-of-care diagnostics, and adoption of portable rapid testing devices. For example, the CDC's data on the 2021 flu season highlights significant healthcare burdens, reinforcing the region's focus on disease management.
Europe and Asia Pacific are also poised for strong growth due to rising disease burdens, rapid testing device adoption, and government initiatives. In India, heightened consumer awareness has boosted diagnostic testing for infectious diseases, while in Europe, the ECDC's efforts in disease mapping underscore proactive healthcare strategies.
Recent Developments
· In July 2023, EMPE Diagnostics launched the mfloDx MDR-TB rapid test kit.
· Abbott introduced Panbio HIV Self-Test, an OTC rapid test that offers results in 15-20 minutes. This HIV home test is available through e-commerce channels in Hong Kong.
The Rapid Diagnostics Market is segmented into various segments such as Product, Prescription, Application, End User, and Region:
Based on Product
· Consumables
· Instruments/Analysers
Based on Application
· Blood Glucose Testing
· Cardiometabolic Testing
· Infectious Disease Testing
· Blood Coagulation Testing
· Haematology Testing, Cancer Testing
· Drug of Abuse Testing
· Pregnancy and Fertility/Ovulation Testing
Based on End User
· Hospitals and Clinics
· Laboratories
· Individuals/Home Healthcare Settings
· Others
Access Full Report: https://www.delvens.com/report/rapid-diagnostics-market
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Rapid Diagnostics Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
More Reports From Delvens:
Energy based Medical Aesthetics Market size was estimated at USD 4.7 billion in 2023 and is projected to reach USD 12.2 billion in 2030 at a CAGR of 12.3% during the forecast period 2024-2030.
Medical Robots Market size was estimated at USD 16.1 billion in 2023 and is projected to reach USD 32.4 billion in 2030 at a CAGR of 15.3% during the forecast period 2024-2030.
About Us:
Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.
Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
Contact us:
UNIT NO. 2126, TOWER B,
21ST FLOOR ALPHATHUM
SECTOR 90 NOIDA 201305, IN
+44-20-3290-6466
+1 214-377-1144
