Rapid diagnostic tests are easy-to-use tests that provide quick results, usually 30 in minutes or less. These are quick field tests that can be performed in under 30 minutes and detect the presence of a pathogen quickly and accurately. Rapid results enable healthcare professionals/workers to make informed decisions quickly and protect the lives of their patients at the community level.

Market Dynamics:

Rise in prevalence of infectious/chronic diseases, outbreak of COVID-19 (pandemic), rise in usage of point-of-care diagnostics, favorable government initiatives, and rising awareness among people regarding early diagnosis are major factors expected to boost growth of the global rapid diagnostics market during the forecast period.

For instance, in March 2022, Brain Chemistry Labs and Arlington Scientific teamed up to develop an easy-to-use rapid test kit. The rapid test kit will detect the presence of β-methylamino-L-Alanine (BMAA), a toxin present in cyanobacterial blooms, which causes a fatal paralytic disease called Amyotrophic Lateral Sclerosis (ALS).

Key features of the study:

• This report provides in-depth analysis of the global rapid diagnostics market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global rapid diagnostics market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Abbott, Danaher, Quidel, BD, LifeScan, Siemens Healthineers, F. Hoffmann-La Roche, and Ascensia Diabetes Care Holdings, among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global rapid diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global rapid diagnostics market.

Detailed Segmentation:

• Global Rapid Diagnostics Market, By Product:
  • Consumables
  • Instruments/Analysers
• Global Rapid Diagnostics Market, By Prescription:
  • Professional Diagnostics
  • At-Home/OTC-Based Testing
• Global Rapid Diagnostics Market, By Application:
  • Blood Glucose Testing
  • Cardiometabolic Testing
  • Infectious Disease Testing
  • Blood Coagulation Testing
  • Hematology Testing
  • Cancer Testing
  • Drug of Abuse Testing
  • Pregnancy and Fertility/Ovulation Testing
• Global Rapid Diagnostics Market, By End User:
  • Hospitals and Clinics
  • Laboratories
  • Individuals/Home Healthcare Settings
  • Others
• By Geography:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Abbott
  • Danaher
  • Quidel
  • BD
  • LifeScan
  • Siemens Healthineers
  • F. Hoffmann-La Roche
  • Ascensia Diabetes Care Holdings