Increasing popularity of preliminary screening across medical facilities, rising need for diagnostic tests, increased adoption in medical fraternity, increase in awareness regarding early diagnosis of disease, prevalence of infectious diseases, and the need for low-cost diagnostic testing coupled with diagnosis accuracy are key factors contributing to high CAGR of Rapid Test during forecast period.
the global Rapid Test market was valued at USD 24.55 billion in 2018 and is expected to reach USD 48.54 billion by year 2026, at a CAGR of 8.8 %. The initial diagnosis of diseases, as well as accuracy, play an essential role in the treatment of patients. The adoption of rapid diagnostic kits is increasingly recognized for its accuracy and economical testing for diseases such as syphilis, HIV, and tuberculosis. The need for diagnostic tests in several areas of medical care has created significant growth opportunities in the global rapid testing market. Quick tests, see tests that can be used in case of emergency in medical centers or for home treatment. The unique feature of this form of testing is the limited use of resources and simplicity of execution. Increasing the number of preliminary screening procedures in hospitals and increasing the number of rapid tests in developing regions are contributing factors to the growth of the sector. The rapid contagious disease test market is expected to experience the most robust growth over the forecast period. Factors such as the growing need for rapid test results to improve performance, strict government regulations, globalization of the food trade, and the increasing incidence of foodborne illness attributable to increased demand from the rapid testing market.
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The report provides extensive coverage of the supply chain, key players of the industry, consumer base, company profiles, production and consumption rate, primary applications, and other relevant data. It provides an in-depth assessment of the key companies operating in the market along with their company profiles, business overview, production and manufacturing capacity, product portfolio, financial standing, global position, and business expansion plans. It also studies recent mergers and acquisitions, joint ventures, product launches, partnerships, collaborations, and agreements among other. The report also provides insights into new entrants and their strategic alliances to gain a robust footing in the market.
Key Manufacturers in the Global Rapid Test Market:
Akers Biosciences, Inc., Alere Inc. (Abbott Laboratories), Becton, Dickinson and Company, Bio-rad Laboratories, Inc., Cepheid, Inc., Hologic, Inc., Meridian Bioscience, Inc., OraSure Technologies, Inc., Quidel Corporation, and Roche Diagnostics.
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The report also provides an extensive regional segmentation to offer the readers key insights into the spread of the market over key geographical regions. It covers production and consumption patterns, import/export, supply and demand, consumer demand and behavior, key trends, and presence of key players in each region. The report also offer a country-wise analysis to impart a better understanding of the revenue growth of the market in each region.
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product Type (Revenue, USD Million; 2016–2026)
- Over-the-Counter (OTC) Rapid Test Product
- Professional Rapid Test Product
Application Type (Revenue, USD Million; 2016–2026)
- Infectious Disease
- Cardiology
- Oncology
- Pregnancy Fertility
- Toxicology
- Glucose Monitoring
- Others
End Use (Revenue, USD Million; 2016–2026)
- Hospital Clinic
- Diagnostic Laboratory
- Home Care
- Others
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Key Questions Addressed in the Report:
- What is the market size the global Rapid Test market is expected to reach over the forecast period? What is the expected CAGR?
- What are the key segments of the market?
- What are the key products and applications of the Rapid Test market?
- What factors are expected to drive and restrain market growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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