Rapid Diagnostic Kits Market - Forecasts From 2018 to 2023

The global Rapid Diagnostic Kits market is expected to reach US$28.885 billion by 2023 from US$18.725 billion in 2017 growing at a CAGR of 7.49%. Rapid Diagnostic Kits are the kits suitable for preliminary or emergency medical screening and for use in medical facilities with limited resources. The kits are easy to use and consists of tests based on agglutination, immuno-chromatographic, immuno-dot, and/or immuno-filtration techniques. Due to quick results and ease of USAge provided by these test kits, it is possible to provide timely treatment. The market is expected to show significant growth during the forecast period owing to the high demand for the preventive management and rising awareness regarding early diagnosis of diseases across the globe. Technological advancements and continuous new product launches will also boost the growth of the market during the given forecast period. Rising demand of the home based POC diagnostic kits will also fuel the growth of the Rapid Diagnostic Kits. However, Lack of awareness regarding newer rapid diagnostic tests coupled with the failure to eliminate the need for microscopy diagnosis might restrain the growth of the market during the given time frame.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global Rapid Diagnostic Kits market value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global Rapid Diagnostic Kits market.

Major industry players profiled as part of the report are Alfa Scientific Designs, Inc., Abbott and Creative Diagnostics among others.

Segmentation

By Technology

Lateral Flow Assays
Flow Through
Agglutination
Solid Phase

By Application

Glucose Monitoring
Cardiometabolic Testing
Infectious Disease Testing
Drugs-of-Abuse Testing
Fertility and Pregnancy Testing
Others

By End Users

Hospitals and Clinics
Diagnostic Laboratories
Home Care Settings

By Geography

North America
United States
Canada
Others

South America
Brazil
Argentina
Others

Europe
United Kingdom
Germany
France
Others

Middle East and Africa
Saudi Arabia
UAE
Israel
Others

Asia Pacific
China
India
Australia
South Korea
Others