Wilmington, Del., November 10, 2023 (GLOBE NEWSWIRE) — Global Rapid Diagnostic Test Kit market was valued at USD$ 17.6 Will reach 1 billion in 2023 and is expected to grow at a significant rate The compound annual growth rate exceeds 12.1% According to published market reports, during the forecast period 2023 to 2030 rational statistics
Market Definition, Market Scope and Report Overview
A rapid diagnostic test kit, often called a rapid test or rapid diagnostic test (RDT), is a medical device designed to detect a specific disease, infection or condition quickly and easily. They are characterized by their ability to provide results quickly (usually within minutes), making them valuable tools for point-of-care medical diagnosis, screening and monitoring. Rapid diagnostic test kits are commonly used in healthcare settings, including clinics, hospitals, laboratories and field applications, as well as in resource-limited or remote areas where traditional laboratory facilities may be limited.
Aging populations in many countries are driving demand for diagnostics related to age-related and other diseases. In addition, the global prevalence of chronic diseases such as diabetes and cardiovascular disease is increasing, resulting in an increasing need for RDT monitoring and management.
- Global rapid diagnostic test kits market analyzed based on RationalStat’s in-depth market assessment Based on market segments including technology, product, end user and geography/region (Including North America, Latin America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific). The report also provides global and regional market size for the historical period 2019-2022 and the forecast period 2023-2030.
- Market intelligence for the global Rapid Diagnostic Test Kits market covers market size based on market value (USD Million/EUR Million) and volume (Units) of various products/services/devices, demand assessment across key regions, customer sentiment, price points , cost structure, profit analysis of the entire value chain, financial evaluation, historical and forecast data, main developments of the entire industry, import and export data, trade overview, parts market of leading companies, etc.
- Additionally, long-term industry and product/service 10-year outlook and its impact on the global rapid diagnostic test kits market. It also includes the current status of the industry—production levels, capacity utilization, technology vendors, etc. Key information includes manufacturing capacity, installed capacity, imports, market size, key players, market size, dynamics, market data, insights, etc. by country.
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Global Rapid Diagnostic Test Kits Market: Segmentation and Market Share Analysis
- From a technology perspective, lateral chromatography is expected to hold a relatively large share in the rapid diagnostic test kits market, mainly due to the lower cost of lateral chromatography tests and their ability to provide accurate results within minutes.
Report summary
| Reporting metrics | detail |
| base year | 2022 |
| forecast period | 2023-2030 |
| Base year market size | $17.6 billion |
| Market size forecast | $39.2 billion |
| growth rate | 12.1% |
| Key market drivers |
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| Company Profile |
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Competition Analysis and Market Structure
Some of the prominent players and vendors contributing significantly to the growth of the global rapid diagnostic test kits market include Abbott Laboratories, Artron Laboratories, ACON Laboratories, Alfa Scientific Designs, BD, BTNX, Cardinal Health, Meridian Bioscience, Sight Diagnostic and Trinity Biotech, Among other things.
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RationalStat breaks down the global Rapid diagnostic test kit Market based on technology, product, end user and region
- Global Rapid Diagnostic Test Kit market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Technology
- Solid Phase
- lateral flow
- others
- Global Rapid Diagnostic Test Kit market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Product
- Global Rapid Diagnostic Test Kit market Value (USD Million), Volume (Units) and Market Share by End User (2019-2030) Analysis
- hospitals and clinics
- singles
- diagnostic laboratory
- Global Rapid Diagnostic Test Kit market Value (USD Million), Volume (Units) and Market Share Analysis by Region (2019-2030)
- North America Rapid Diagnostic Test Kits Market Value (USD Million), Sales Volume (Units) and Market Share (2019-2030) Analysis by Country
- Latin America Rapid Diagnostic Test Kits Market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Rapid Diagnostic Test Kits Market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Germany
- U.K.
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Rapid Diagnostic Test Kits Market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS countries
- Rest of Eastern Europe
- Asia Pacific Rapid Diagnostic Test Kits Market Value (USD Million), Sales Volume (Units) and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- the Philippines
- Vietnam
- Malaysia
- Other ASEAN countries
- Rest of Asia Pacific
- Middle East and Africa Rapid Diagnostic Test Kits Market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- gulf cooperation council
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Other GCC countries
- South Africa
- Nigeria
- turkey
- Middle East and Rest of Africa
- gulf cooperation council
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Key questions answered in the Rapid Diagnostic Test Kit report:
- What will be the market value of the global rapid diagnostic test kits market by 2030?
- How big is the global rapid diagnostic test kit market?
- What are the market drivers for the global rapid diagnostic test kits market?
- What are the key trends in the global rapid diagnostic test kits market?
- Which is the leading region in the global Rapid Diagnostic Test Kits market?
- What are the major players in the global rapid diagnostic test kits market?
- What is the market share of major segments in the global rapid diagnostic test kits market?
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research methodology
RationalStat has developed a state-of-the-art research methodology to process data and provide clients with the best real-time insights. We combine various industry experience, data analysis and expert opinions to create research methodologies for market sizing and forecasting.
RationalStat combines secondary sources and primary research to assess market size and develop forecasts. The key steps involved in deriving accurate market data are:
- Define the problem by understanding the type of market and the data your customers need.
- Data collection and collection is conducted through relevant paid databases, public sources, company reports, annual reports, surveys and interviews.
- Develop hypotheses to create market data, forecasts, influencing factors and their correlations.
- Evaluate and analyze data by reference to the data sources used and utilized.
- Validate, interpret and finalize data with the help of experienced analysts incorporating detailed information collected from primary and secondary sources.
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