Rapid Medical Diagnostic Kits Market Size To Hit USD 18.0 Billion By 2028

 San Francisco, 26 March 2021: The Report Rapid Medical Diagnostic Kits Market Size, Share & Trends Analysis Report By Product (OTC Kits, Professional Kits), By Technology (Lateral Flow, Solid Phase), By Application, By End Use, By Region, And Segment Forecasts, 2021 - 2028

The global rapid medical diagnostic kits market size is expected to reach USD 18.0 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.4% from 2021 to 2028. Rapid medical diagnostic kits enhance the speed of etiologic diagnosis of patients affected with chronic ailments. Moreover, speedy diagnosis is of paramount importance in individuals affected with infectious diseases. Thus, an increase in the number of manufacturers keen on exploring this space is driving the revenue in the market.

Key players are focusing on introducing novel medical supplies that require limited operational training, offer convenient usage, and ensure effective analysis. This is expected to propel the demand for rapid medical care among the industry’s target audience, which is inclusive of a general population affected with chronic diseases, coupled with the healthcare professionals determined to recommend an appropriate rapid medical evaluation.

The gradual shift toward point of care (POC) testing is also an important factor boosting the adoption of these test kits. Moreover, the recent pandemic outbreak of COVID-19 has piqued the interest of healthcare professionals in this industry space. High demand for portable testing kits in COVID-19 diagnostics is expected to make a significantly positive impact on the market expansion during the forecast period.

Novel rapid diagnostic tests are being developed that are expected to facilitate the prevention of infections along with antimicrobial stewardship. Newly developed tests are combined with Antimicrobial Stewardship (ASP) to optimize antimicrobial utilization as well as patient outcomes. Moreover, test kits with a broad scope of diagnosis and swift turnaround time are entering the space, offering lucrative opportunities for revenue growth.

For instance, in January 2021, Trinity Biotech’s Captia SARS-CoV-2 IgG ELISA rapid test secured the CE mark. The company has also stated that it has significant capacity for ELISA associated product manufacturewithin their current operations, aiding in speedy commercialization of this test kit across the globe.

Access Research Report of Rapid Medical Diagnostic Kits Market @ https://www.grandviewresearch.com/industry-analysis/rapid-medical-diagnostic-kits-industry

Rapid Medical Diagnostic Kits Market Report Highlights

  • By product, over the counter (OTC) kits dominated the market in 2020 with a share of 54.3%. This is attributed to the routine adoption of OTC rapid diagnostic tests to ensure timely administration of an apt therapeutic intervention
  • On the basis of technology, the lateral flow segment held the largest share of 35.1% in 2020. Convenient manufacturing protocols, coupled with low costs associated with the development, have led to the expansion of lateral flow assays into the rapid medical diagnostic market space
  • The blood glucose testing application segment is estimated to expand at the fastest CAGR of 4.1% from 2021 to 2028. The imperative need for routine blood glucose monitoring in diabetic patients has contributed to the segment’s revenue generation capacity
  • Based on end use, hospitals and clinics accounted for the largest revenue share in 2020 owing to the maximum adoption of rapid medical diagnostic kits
  • Market entities are actively participating in the development of rapid medical test products to address the current pandemic outbreak of COVID-19, further intensifying the market competition

List of Key Players of Rapid Medical Diagnostic Kits Market

  • ACON Laboratories, Inc.
  • Abbott Laboratories
  • Artron Laboratories Inc.
  • Alfa Scientific Designs, Inc.
  • Becton, Dickinson and Company
  • BTNX, Inc.
  • bioMérieux SA
  • Cardinal Health
  • Bio-Rad Laboratories, Inc.
  • Danaher Corporation
  • Creative Diagnostics
  • Meridian Bioscience, Inc.
  • Hoffmann-La Roche AG
  • McKesson Medical-Surgical, Inc
  • Sight Diagnostics Ltd
  • Trinity Biotech
  • Zoetis

Access Press Release of Rapid Medical Diagnostic Kits Market @ https://www.grandviewresearch.com/press-release/global-rapid-medical-diagnostic-kit-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Food Additives Market Size & Share Hit USD 55.53 Billion By 2022 : Grand View Research Inc.

Image
San Francisco, 17 October 2019:   The Report   Global Food Additives Market   Analysis By Product Flavors & Enhancers (Natural, Artificial), Sweeteners (High Intensity, HFCS), Enzymes, Emulsifiers (Mono, Di-Glycerides, Lecithin, Stearoyl Lactylates, Sorbitan Esters), Shelf-life Stabilizers, Fat Replacers (Protein, Starch)] And Segment Forecast To 2022 Global food additives market is expected to reach USD 55.53 billion by 2022, according to a new study by Grand View Research, Inc. Food & beverage industry growth in BRICS and Middle East on account of rising domestic consumption and increasing foreign direct investments is expected to augment market growth. Asia Pacific is expected to be one of the most promising markets on account of growing domestic consumption in China and India owing to population growth and new product launches by food & beverage manufacturers. Availability of raw materials such as sorbitol and lactic acid in China, Indonesia, and Malaysia in light o
Read more

Integration Platform as a Service Market Valuation Is Expected To Exceed USD 2.70 Billion By 2025: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Integration Platform as a Service (IPaaS) Market  Analysis By Integration Type (API, Process, Application, Data), By Services, By Deployment (Cloud, On-Premise, Hybrid) By Region, And Segment Forecasts, 2018 – 2025 The global integration platform as a service (IPaaS) market is expected to reach USD 2.705.8 million by 2025, according to a new report by Grand View Research, Inc. Rising need of advanced systems to improve the process of deploying, developing, and managing enterprise applications globally has been a major factor driving market growth. In addition, recent developments in big data, cloud computing, and Internet of Things (IoT) within organizations’ processes also paved the way for greater development of IPaaS solutions. Integration Platform as a Service is an emerging technology where in the applications, process, data, and application programs are integrated. The integration enables enterprises to reduce the complexity
Read more