DUBLIN--(BUSINESS WIRE)--The "Global Rapid Test Kit Market by Type (Rapid Antigen Test v/s Rapid Antibody Test), by Product Type (Over-the-counter (OTC) Rapid Test Kit v/s Professional Rapid Test Kit), by Technology, by Duration, by Application, by End Users, by Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Rapid Test Kit Market was valued at USD 23.44 Billion in 2020 and is expected to grow at a formidable rate of 8.14% during the forecast period.
The Global Rapid Test Kit Market is driven by the growing prevalence of various infectious diseases. Additionally, benefits associated with rapid test kits such as low cost, accuracy, early disease diagnosis, quick results, stability at high temperature, among others are further expected to propel the market growth through 2026.
Moreover, sudden outbreak and spread of pandemic COVID-19 has drastically increased the demand for rapid test kits, thereby fueling the market growth during the forecast period. Many major biotechnology and pharmaceutical companies have developed their own rapid test kits, and many are still investing, researching and working on the development of better and advanced rapid test kits. This in turn is expected to create lucrative opportunities for the market growth over the next few years.
The Global Rapid Test Kit Market is segmented based on type, product type, technology, duration, application, end-user, company and region. Based on product type, the market can be split into over-the-counter (OTC) rapid test kit and professional rapid test kit. Among these, the professional rapid test kit segment is expected to dominate the market during the forecast period owing to their widespread use for preliminary screening purposes at hospitals & clinics.
Based on application, the market can be fragmented into infectious disease, cardiology, oncology, pregnancy & fertility, toxicology, glucose monitoring, and others. Here, the infectious disease segment is expected to hold a significant market share on account of rising number of infections across the globe. Furthermore, the glucose monitoring segment is expected to exhibit the highest growth on account of increasing diabetic cases.
Regionally, the Global Rapid Test Kit Market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate in the overall rapid test kit market owing to the well-established healthcare infrastructure and presence of major pharmaceutical and biotechnology giants in the region.
However, Asia-Pacific is expected to witness robust growth in the market owing to presence of large pool of patients suffering from various life-threatening conditions in economies such as China and India.
Major players operating are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Rapid Test Kit Market
4. Executive Summary
5. Voice of Customer
6. Global Rapid Test Kit Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Rapid Antigen Test v/s Rapid Antibody Test)
6.2.2. By Product Type (Over-the-counter (OTC) Rapid Test Kit v/s Professional Rapid Test Kit)
6.2.3. By Technology (Lateral Flow Assays, Agglutination, Immunospot Assay, Solid Phase)
6.2.4. By Duration (Less than 10 minutes, Less than 30 minutes, Less than 1 hour, 1 hour-2 hour, Others)
6.2.5. By Application (Infectious Disease, Cardiology, Oncology, Pregnancy & Fertility, Toxicology, Glucose Monitoring, Others)
6.2.6. By End Users (Hospitals & Clinics, Diagnostic Centers, Home Care, Others)
6.2.7. By Company (2020)
6.2.8. By Region
6.3. Product Market Map
7. Asia-Pacific Rapid Test Kit Market Outlook
8. Europe Rapid Test Kit Market Outlook
9. North America Rapid Test Kit Market Outlook
10. South America Rapid Test Kit Market Outlook
11. Middle East and Africa Rapid Test Kit Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
14.1. F. Hoffmann-La Roche AG
14.2. Abbott Laboratories Ltd.
14.3. Siemens Healthineers AG
14.4. OraSure Technologies, Inc.
14.5. Becton, Dickinson and Company
14.6. Bio-Rad Laboratories, Inc.
14.7. Danaher Corporation (Cepheid, Inc.)
14.8. Eurofins Scientific SE
14.9. Luminex Corporation
14.10. PerkinElmer, Inc.
14.11. Cellex, Inc.
14.12. Thermo Fisher Scientific, Inc.
14.13. Mesa Biotech, Inc.
14.14. BioFire Diagnostics, Inc.
14.15. Akers Biosciences, Inc.
15. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/o6n79p