Rapid Medical Diagnostic Kits Market Size And Forecast

The global Rapid Medical Diagnostic Kits market was valued at US$ 25,765.5 Mn in 2019 and is projected to reach US$ 38,173.9 Mn by 2027, growing At a CAGR of 5.0% from 2020 to 2027.

According to new informative report by Coherent Market Insights an analytical data of Rapid Medical Diagnostic Kits market has recently added to its massive database. The research report covers various business verticals. It was added based on various dynamic aspects of the business. This statistical report has been prepared using primary and secondary research methods. Well explained Porter’s five analysis and SWOT analysis have been used to examine the strength, weaknesses, threats and opportunities.

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What are Rapid Medical Diagnostic Kits?

A rapid diagnostic test (RDT) is a medical diagnostic test that is quick and easy to perform. RDTs are suitable for preliminary or emergency medical screening and for use in medical facilities with limited resources. Rapid Medical Diagnostic Kits comprises rapid antibody test and rapid antigen tests. Rapid antibody tests are used for HIV test and rapid plasma regain, whereas rapid antigen tests include, rapid influenza diagnostic test, malaria antigen detection tests, rapid strep test, and rapid urease test.

Increasing prevalence of infectious diseases is expected to propel growth of the global rapid medical diagnostic kits market over the forecast period. For instance, according to UNAIDS Global HIV & AIDS statistics — 2019 fact sheet, 37.9 million [32.7 million–44.0 million] people globally were living with HIV (end 2018).

Moreover, increasing migration of people is also expected to aid in growth of the market. For instance, in 2019, according to United Nations’ International Migration 2019 report, the number of international migrants worldwide reached nearly 272 million, up from 153 million in 1990.

R&D in biochips is expected to offer lucrative growth opportunities for players in the global rapid medical diagnostic kits market. For instance, in May 2020, researchers from Russian Academy of Sciences, Russia, reported development of 3D biochips and optimized analytical procedures that can facilitate further studies towards practical application for hepatitis C virus detection.

Moreover, increasing funding for R&D of new rapid tests is also expected to aid in growth of the market. For instance, in January 2018, University of Glasgow-led project received US$ 1.85 million funding, which is a part of Global Challenges Research Fund (GCRF). This project will develop new tests for parasitic diseases and rapid testing in remote locations to help enable rapid diagnosis and rapid treatment of infectious diseases.

Detailed Segmentation

By Type:

• • Lateral flow
  • Agglutination assays
  • Flow-through
  • Solid-phase (“dipstick” assays)

By Application:

• • Clinical testing
    • Infectious disease testing
    • Cholesterol monitoring
    • Substance abuse testing
    • Fertility & Pregnancy testing
    • Blood Glucose testing
  • Home-use
    • Blood glucose monitoring
    • Fertility & pregnancy testing
    • Cholesterol monitoring
    • Infectious disease
    • Substance abuse testing
  • Veterinary

Rapid Medical Diagnostic Kits Market by Geography Analysis::

North America (The US, Canada, and Mexico)

Europe (the UK, Germany, France, and Rest of Europe)

Asia Pacific (China, India, and Rest of Asia Pacific)

Latin America (Brazil and Rest of Latin America)

Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)

Key Players In Rapid Medical Diagnostic Kits Market

The “Global Rapid Medical Diagnostic Kits Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Danaher Corporation, Abbott Laboratories, Acon Laboratories, Inc., Hoffman-La Roche AG, Becton, Dickinson, and Company, Johnson & Johnson, Trinity Biotech Plc, and Siemens Healthineers.

Reasons to Purchase this Report

Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post sales analyst support

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