ALBANY, N.Y.--(BUSINESS WIRE)--Rapid diagnostic kits have now become widely accepted and their ubiquity will enable the steady growth of the rapid medical diagnostic kits market to 2019, says a study by Transparency Market Research (TMR). Titled ‘Rapid Medical Diagnostic Kits Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019,’ the study finds that the market will report a 5.5% CAGR through the forecast period. Valued at US$17.65 billion in 2012, the rapid medical diagnostic kits market will stand at US$25.76 billion by the end of 2019.
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The report studies the market on the basis of applications, technologies, and by geography. Using applications as a criteria, the rapid medical diagnostic kits market is segmented into clinical testing, home use, and veterinary. In 2012, the home-use tests segment was the largest because of home-based blood glucose tests.
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By technology, the rapid diagnostic kits market is segmented into: lateral flow, flow-through, solid-phase, and agglutination assays. Diagnostic kits based on the lateral flow technology constituted the largest segment in the market because of their quick turn times and accuracy – a factor that contributes to the large number of approved lateral-flow-technology-based tests on the market.
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Similarly, the geographical regions studied in the market are North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2012, North America was dominant in the global rapid medical diagnostic kits market and will continue to remain in this position to 2019. Europe is the other major regional market; Asia Pacific is expected to report the fastest growth rate to 2019.
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Companies profiled in the market research report are: Abaxis, Inc., F. Hoffmann La Roche, Abbott Laboratories, Becton Dickinson & Company, BioRad Laboratories, MegaCor Diagnostik GmbH, and others.
About TMR
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
