"Designing Growth Strategies is in our DNA"

Rapid Diagnostics Market Size, Share, and COVID-19 Impact Analysis By Product (Reagents & Kits and Instruments), By Type (OTC and Prescription), By Technology (Lateral Flow Immunoassay, Solid Phase, Agglutination, Microfluidics, and Others), By Application (Infectious Disease Testing, Cardiometabolic Testing, Pregnancy Testing, Blood Glucose Testing, Lipid Profiling, Drug of Abuse Testing, and Others), By Sample (Blood, Urine, Saliva, and Others), By End-User (Hospitals & Clinics, Diagnostic Laboratories, Home Care Settings, and Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107871 | Status : Ongoing

 

KEY MARKET INSIGHTS

Rapid diagnostic tests play a crucial role in the etiologic diagnosis of diseases in several scenarios. According to the World Health Organization (WHO), rapid diagnostic tests are used when a preliminary screening test result is required and are useful in resource-limited countries. These tests have several advantages such as being easy to perform, high quality, requiring little or no additional equipment, rapid results, and others. With the growing demand for easy-to-use, rapid diagnostics to facilitate testing outside of laboratory settings, the market for rapid diagnostics has gained momentum in recent years. Moreover, the increasing adoption of POC testing, the growing prevalence of infectious diseases, and intense competition among the operating players are some of the factors boosting the market growth.



  • For instance, according to the Centers for Disease Control and Prevention (CDC), in 2018, the number of physician office visits for infectious and parasitic diseases was 7.2 million in the U.S. Similarly, the number of emergency department visits reached 3.2 million in 2018.


Moreover, the growing accessibility of rapid diagnostic test kits through online platforms, the increasing number of CLIA-waved rapid diagnostic tests, and the growing focus of local industry participants towards the development of new products, and supportive regulatory bodies are expected to accelerate the rapid diagnostics market growth in the near future. In addition, increasing adoption and demand of rapid testing kits and high prevalence of infectious diseases in developing as well as low-income countries would propel the market growth in coming years.

Impact of COVID-19 on the Rapid Diagnostics Market


The outbreak of the COVID-19 pandemic had a positive impact on the rapid diagnostics market. The pandemic created lucrative opportunities for manufacturers to develop rapid diagnostic tests for accurate and timely diagnosis of the infection. RDTs played an important role in the effective management of COVID-19 patients and in limiting the propagation of the infection. Additionally, the introduction of at-home tests for COVID-19


  • For instance, in December 2020, Abbott’s BinaxNOW COVID-19 Ag Card received Emergency Use Authorization (EUA) from the U.S. FDA. This at-home test is easy-to-use, highly portable, and delivers results in 15 minutes.


Key Insights


The report will cover the following key insights:


  • Prevalence of Key Infectious Diseases, By Key Countries/Regions.

  • Regulatory Framework, By Key Regions.

  • Key Industry Developments -Mergers, Acquisitions and Partnerships.

  • New Product Launches.

  • Technological advancements in rapid diagnostic testing.

  • Impact of COVID-19 on the Global Rapid Diagnostics Market.


Analysis by Type


The over-the-counter (OTC) segment constituted a major share of the global rapid diagnostics market. Since the COVID-19 pandemic, several companies have entered this space to capture the untapped avenues of the market. Moreover, the easy availability of RDTs through local pharmacies, and increasing use in near-patient settings have also supplemented the segment growth. The OTC rapid tests are usually used in homecare settings providing a cost-effective alternative to costly laboratory tests. As per the report published by the Consumer Healthcare Products Association, the clinical cost savings amounted USD 94.8 billion due to the comparatively low prices of OTC diagnostic products.

Regional Analysis


To gain extensive insights into the market, Request for Customization


North America captured the largest market share in the global rapid diagnostics market. This is attributed to the presence of well-established market players, supportive regulatory framework and well developed healthcare infrastructure. Other factors driving the regional growth include increasing number new product launches by operating companies, high adoption of point-of-care diagnostics and increasing number of approvals by the U.S. FDA.

Key Players Covered


The report will include profiles of key players such as Abbott, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Creative Diagnostics, F. Hoffmann-La Roche AG, Cardinal Health, ACON Laboratories, Inc., Artron Laboratories Inc., and BTNX, Inc.

Segmentation
























By Product


By Type


By Technology


By Sample


By Application


By End-User


By Geography



  • Reagents & Kits

  • Instruments




  • Over-the-counter (OTC)

  • Prescription/Professional




  • Lateral flow Immunoassay

  • Solid Phase

  • Agglutination

  • Microfluidics

  • Others




  • Blood

  • Urine

  • Saliva

  • Others




  • Infectious Disease Testing


    • Respiratory tract infections

    • HIV

    • Hepatitis

    • Influenza

    • Others


  • Cardiometabolic Testing

  • Pregnancy Testing

  • Blood Glucose Testing

  • Lipid Profiling

  • Drug of Abuse Testing

  • Others




  • Hospitals & Clinics

  • Diagnostic Laboratories

  • Home Care Settings

  • Others




  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Spain, Italy, Rest of Europe)

  • Asia Pacific (Japan, China, Australia, India, Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America  

  • Middle East & Africa (GCC, South Africa, and the Rest of the Middle East and Africa)



Key Industry Developments



  • November 2022: 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.

  • October 2022: Roche launched next-generation COVID-19 rapid antigen test for professional as well as self-testing. This test kit is available in countries accepting CE marking. It aids in diagnosis of the infection with or without symptoms.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Healthcare Clients
iqvia
Siemens Healthineers
Ipsos
Johnson
Pfizer
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X