According to a new report published by Allied Market Research, titled, “Rapid Tests Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global rapid tests market size was valued at $33,329.15 million in 2020, and is projected to reach $97,606.33 million by 2030, registering a CAGR of 11.3% from 2021 to 2030.
♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
Key Findings of the Study –
- Based on product, the over-the-counter (OTC) rapid test product segment is expected to show the fastest rapid tests market growth, at a CAGR of 11.9% from 2021 to 2030.
- Based on application, the glucose monitoring segment held maximum global rapid tests market share in 2020 and is expected to remain dominant throughout the forecast period.
- Based on end user, the hospitals & clinicssegment exhibited growth at a CAGR of 11.8% from 2021 to 2030.
- Based on region, Asia-Pacific is projected to experience growth at the highest rate, registering a CAGR of 12.8% during the forecast period.
Based on product, professional rapid testing products held the largest share in 2020 and is expected to continue to dominate during the forecast period, due to increasing demand for rapid home testing drugs and mandatory government policies for testing for diseases such as HIV, malaria flu and others. However, the over-the-counter (OTC) market is expected to grow at the highest CAGR from 2021 to 2030.
Based on applications, blood glucose monitoring segment occupied the largest share in 2020 and is expected to dominate the rapid test market during the forecast period owing to the increase in the prevalence of diabetes and the increased awareness of rapid home blood glucose test kits. On the other hand, the infectious disease segment is expected to exhibit the fastest market growth during the forecast period owing to the rising prevalence of infectious diseases and increasing demand for rapid tests at low cost and accurate for preliminary infectious disease testing.
♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭:
North America is the largest contributor to the investment in the global rapid test market in 2020, owing to the high usage of rapid tests due to the increase in early diagnosis and the increase in chronic diseases in the region . However, Asia-Pacific is expected to grow at the highest CAGR of 10.5% during the study period, which is driving growth in revenue, healthcare spending and awareness.
Key Market Players –
Major key players that operate in the the industry are Akers Biosciences, Abbott Laboratories (Alere Inc.),Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Cepheid, Inc.), Hologic, Meridian Bioscience, OraSure Technologies, OraSure Technologies, and F. Hoffmann-La Roche AG (Roche Diagnostics).
By Region –
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
♦ 𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
Frequently Asked Questions?
Q1. What is the total market value of global rapid tests market?
Q2. Which market holds the maximum market share of the global rapid tests market?
Q3. What will be global rapid tests market growth in 2030?
Q4. What are the key trends in the global rapid tests market?
Q5. What are the key growth strategies of global rapid tests market players? Q6. How the company profile has been selected?
About Us –
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various research data tables and confirms utmost accuracy in our market forecasting. Each and every us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060