Share of Global Rapid Medical Diagnostic Kits Market Projected to Reach USD 23.04 Billion By 2027
The global rapid medical diagnostic kits market size is predicted to reach USD 23.04 billion by 2027 according to a new study by Polaris Market Research.
Rapid medical diagnostic kits are also known as ‘immediate test kits’ which are designed to provide instant access to diagnose the patients or the individual with several types of diseases. The rapid medical diagnostic kits can be accessed 24/7 and help to deliver the immediate course of action during an emergency period. The rapid medical diagnostic kits are also cost-effective and easy to access anywhere.
Recent developments in the global market include new test launches such as SARS-CoV-2 rapid antigen test, 2019-nCoV IgG/IgM test kit, On-Call Sure Platform, Afinion HbA1c Dx, TruQuick, etc. The launches are associated with the diagnosis of diseases such as cardiac disorder, diabetes, infectious disease, and others, which further leads to drive the market growth.
The prominent factors favoring the market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. For instance, in July 2020, Bupa UK Insurance announced to launch of a rapid cardiac assessment service that can be accessible at home and can perform all the diagnostic tests.
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Top Market Players
Market participants include Zoetis, ACON Laboratories, Inc.; Trinity Biotech, Abbott Laboratories, McKesson Medical-Surgical, Inc.; Sight Diagnostics Ltd, F. Hoffmann-La Roche AG, Artron Laboratories Inc.; Meridian Bioscience, Inc.; Alfa Scientific Designs, Inc.; Creative Diagnostics, Becton, Danaher Corporation, Dickinson and Company, Bio-Rad Laboratories, Inc.; BTNX, Inc.; Cardinal Health, and bioMérieux SA among others.
For instance, in March 2020, Thermo Fisher Scientific has acquired a supplier of sample preparation and molecular diagnostics technologies to enhance the company’s reach globally and therefore drive market growth. This acquisition strategy by the market players has appeared to dominate a wide share of the global market.
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Polaris Market Research has segmented the Rapid Medical Diagnostic Kits market report on the basis of product, technology, application, end-use, and region
Rapid Medical Diagnostic Kits Market By Product (Revenue – USD Million, 2016 – 2027)
- Over-The-Counter (OTC)
Rapid Medical Diagnostic Kits Market By Technology (Revenue – USD Million, 2016 – 2027)
- Solid Phase
- Lateral Flow
- Other Technologies
Rapid Medical Diagnostic Kits Market By Application (Revenue – USD Million, 2016 – 2027)
- Lipid Profile Testing
- Blood Glucose Testing
- Toxicology Testing
- Infectious Disease Testing
- Coagulation Testing
- Cardiometabolic Testing
- Fecal Occult Blood Testing
- Pregnancy and Fertility Testing
- Other Applications
Rapid Medical Diagnostic Kits Market By End Use (Revenue – USD Million, 2016 – 2027)
- Home Care
- Hospitals & Clinics
- Diagnostic Laboratories
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