Rapid Medical Diagnostic Kits Market, By Technology, By Application, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Rapid Medical Diagnostic Kits Market size was valued at USD 21,800 Million in 2022, expanding at a CAGR of 10.1% from 2023 to 2030.
A quick and simple medical diagnostic test is called a rapid diagnostic test (RDT). RDTs can be used in low-resource medical facilities for both routine and urgent medical screening. To provide findings, DTs use tiny blood samples taken via venipuncture or finger prick and a "lateral diffusion" mechanism like to that of a pregnancy test.
Rapid Medical Diagnostic Kits Market- Market Dynamics
Increasing awareness and growing demand for rapid medical diagnosis of infectious, chronic diseases is to propel market demand
A growing number of people are becoming aware of the need for rapid medical diagnosis of chronic diseases, point-of-care diagnostics, an increase in infectious disease cases, and the release of portable rapid testing devices will all contribute to the growth of the rapid medical diagnostic kits market in the upcoming years. The use of fast tests is anticipated to be supported by cooperative efforts between government agencies and local authorities to achieve control over the treatment and management of infectious diseases. Rapid medical diagnostic kit sales were significantly impacted by the COVID-19 pandemic. The demand for rapid diagnostic kits, especially for COVID-19 detection, has been driven by the need for broad testing and prompt results. The increasing occurrence of contagious illnesses like COVID-19 and the need for detection s boosting the demand for diagnostic kits.
Rapid Medical Diagnostic Kits Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.1% over the forecast period (2023-2030)
Based on Technology segmentation, lateral flow segment was predicted to show maximum market share in the year 2022, owing to high demand from gene amplification, antigens in hospitals.
Based on Application segmentation, blood glucose was the leading segment in 2022, mainly due to high need for glucose tests.
Based on End-User segmentation, hospitals & clinics was the leading segment in 2022, mainly due to enhanced diagnostic services in hospitals.
On the basis of region, North America was the leading revenue generator in 2022, owing to supportive government initiatives.
Rapid Medical Diagnostic Kits Market- Segmentation Analysis:
The Global Rapid Medical Diagnostic Kits Market is segmented on the basis of Technology, Application, End-User, and Region.
The market is divided into four categories based on Technology: lateral flow, agglutination, solid phase, and others. The lateral flow segment dominates the market. The lateral flow assays are mainly used in gene amplification, diagnostics laboratories.
The market is divided into seven categories based on Application: blood glucose, infectious disease testing, cardiometabolic testing, coagulation testing, toxicology testing, pregnancy & fertility tests, and others. The blood glucose segment dominates the market and is likely to maintain its dominance during the forecast period. The growing prevalence of diabetes, glucose related diseases to boost the segment growth.
The market is divided into three categories based on End-User: hospitals & clinics, diagnostic laboratories, and others. The hospitals & clinics dominate the market and is likely to maintain its dominance during the forecast period. The hospitals maintain and collect data on disease prevalence, regulatory bodies often collaborate for disease surveillance.
Rapid Medical Diagnostic Kits Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Rapid Medical Diagnostic Kits Market- Competitive Landscape:
Healthcare businesses are concentrating on implementing strategic initiatives like joint ventures, product launches, and distribution contracts. To provide patients with comprehensive and efficient diagnostic services, several international hospital groups from developed and emerging economies are working with diagnostic firms. For example, in June 2022, the Rapid Diagnostic Cancer Clinic (RDCC) was established in the United Kingdom through a partnership between Kingston Hospital NHS Foundation Trust and Royal Marsden Partners.
Recent Developments:
In July 2023, EMPE Diagnostics introduce a rapid test kit, mfloDX MDR-TB for identifying TB in India. Its among one-of-a-kind kit, accepted by CDSCO and recognized by the World Health Organization (WHO).
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL RAPID MEDICAL DIAGNOSTIC KITS MARKET KEY PLAYERS
Abbott
ACON Laboratories, Inc.
Artron Laboratories Inc.
Alfa Scientific Designs, Inc.
BD
bioMerieux SA
BTNX, Inc.
Bio-Rad Laboratories, Inc.
Danaher Corporation
Cardinal Health
Creative Diagnostics
F. Hoffmann-La Roche AG
McKesson Medical-Surgical, Inc.
Meridian Bioscience, Inc.
Sight Diagnostics Ltd.
Trinity Biotech
Zoetis
Others
GLOBAL RAPID MEDICAL DIAGNOSTIC KITS MARKET, BY TECHNOLOGY
Lateral flow
Agglutination
Solid phase
Others
GLOBAL RAPID MEDICAL DIAGNOSTIC KITS MARKET, BY APPLICATION
Blood glucose
Infectious disease testing
Cardiometabolic testing
Coagulation testing
Toxicology testing
Pregnancy & fertility tests
Others
GLOBAL RAPID MEDICAL DIAGNOSTIC KITS MARKET, BY END-USER
Hospitals & clinics
Diagnostic laboratories
Others
GLOBAL RAPID MEDICAL DIAGNOSTIC KITS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Rapid Medical Diagnostic Kits Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Rapid Medical Diagnostic Kits Market Snippet by Technology
2.1.2. Rapid Medical Diagnostic Kits Market Snippet by Application
2.1.3. Rapid Medical Diagnostic Kits Market Snippet by End-User
2.1.4. Rapid Medical Diagnostic Kits Market Snippet by Country
2.1.5. Rapid Medical Diagnostic Kits Market Snippet by Region
2.2. Competitive Insights
3. Rapid Medical Diagnostic Kits Key Market Trends
3.1. Rapid Medical Diagnostic Kits Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Rapid Medical Diagnostic Kits Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Rapid Medical Diagnostic Kits Market Opportunities
3.4. Rapid Medical Diagnostic Kits Market Future Trends
4. Rapid Medical Diagnostic Kits Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Rapid Medical Diagnostic Kits Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Rapid Medical Diagnostic Kits Market Landscape
6.1. Rapid Medical Diagnostic Kits Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Rapid Medical Diagnostic Kits Market - By Technology
7.1. Overview
7.1.1. Segment Share Analysis, By Technology, 2022 & 2030 (%)
7.1.2. Lateral flow
7.1.3. Agglutination
7.1.4. Solid phase
7.1.5. Others
8. Rapid Medical Diagnostic Kits Market - By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2022 & 2030 (%)
8.1.2. Blood glucose
8.1.3. Infectious disease testing
8.1.4. Cardiometabolic testing
8.1.5. Coagulation testing
8.1.6. Toxicology testing
8.1.7. Pregnancy & fertility tests
8.1.8. Others
9. Rapid Medical Diagnostic Kits Market - By End-User
9.1. Overview
9.1.1. Segment Share Analysis, By End-User, 2022 & 2030 (%)
9.1.2. Hospitals & clinics
9.1.3. Diagnostic laboratories
9.1.4. Others
10. Rapid Medical Diagnostic Kits Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
10.2. North America
10.2.1. Overview
10.2.2. Rapid Medical Diagnostic Kits Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4. North America Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
10.2.5. North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)
10.2.6. North America Market Size and Forecast, By End-User, 2018 - 2030 (US$ Million)