The Global Rapid Diagnostics Market was valued at USD 22.7 billion in 2023 and will expand to a 9.2% CAGR from 2024 to 2032, propelled by the increasing demand for early disease detection and the rising prevalence of chronic diseases. As healthcare shifts towards proactive management and early intervention, the need for quick, accurate diagnostic tools becomes more critical. The surge in chronic conditions, such as diabetes and cardiovascular diseases, amplifies the demand for efficient and accessible diagnostic solutions. This combined demand for timely detection and effective management will significantly boost the market's size.
The rapid diagnostics industry is fragmented based on purchase, distribution channel, product, technology/platform, end use , and region.
The infectious disease testing segment achieved a 25.6% share in 2023 due to its critical role in controlling disease outbreaks and managing public health. With the rise in global infections and the need for immediate, accurate results, rapid diagnostic tests for infectious diseases are increasingly essential. Innovations in testing technology and heightened awareness of early detection further drive this segment's growth. As the demand for timely and efficient diagnostic solutions continues, infectious disease testing will lead the market.
The OTC testing segment held USD 14.9 billion in 2023, attributed to its convenience and growing consumer preference for at-home health management. OTC tests offer immediate, accessible solutions for various health conditions without the need for a healthcare provider visit. The increasing focus on personalized healthcare and self-monitoring, coupled with advancements in user-friendly testing technologies, is driving the expansion of this segment. As demand for accessible and efficient diagnostic tools rises, OTC testing will dominate the market.
North America rapid diagnostics market size was exhibited at USD 11.3 billion in 2023 and will grow at an 8.2% CAGR through 2032, driven by its advanced healthcare infrastructure, high demand for innovative diagnostic solutions, and substantial investments in medical technology. The region's focus on early disease detection and personalized healthcare drives the adoption of rapid diagnostic tests. Additionally, strong healthcare policies and a high rate of chronic disease contribute to market growth. North America's well-established healthcare system and technological advancements make it a notable contributor to the rapid diagnostics industry.
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market scope and definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates and calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of infectious disease
3.2.1.2 Technological advancements
3.2.1.3 Increasing popularity of rapid diagnostic tests
3.2.1.4 Rising awareness regarding early diagnosis among people
3.2.1.5 Increasing government initiatives for the diagnosis of infectious diseases
3.2.2 Industry pitfalls and challenges
3.2.2.1 Low accuracy of results
3.2.2.2 Availability of substitute products
3.2.2.3 Stringent regulatory framework
3.3 Growth potential analysis
3.4 Reimbursement scenario
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Technological landscape
3.7 New emerging therapies
3.8 GAP analysis
3.9 Porter's analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Company matrix analysis
4.4 Competitive analysis of major market players
4.5 Competitive positioning matrix
4.6 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($ Mn)
5.1 Key trends
5.2 Infectious disease testing
5.2.1 Respiratory infection testing products
5.2.2 Influenza
5.2.3 Hepatitis
5.2.4 HIV
5.2.5 Other infectious disease tests
5.3 Glucose monitoring
5.4 Cardiometabolic testing
5.5 Coagulation testing products
5.6 Pregnancy and fertility testing
5.7 Tumor/Cancer marker testing products
5.8 Urinalysis testing products
5.9 Cholesterol testing products
5.10 Hematology testing products
5.11 Drug-of-abuse (DoA) testing products
5.12 Fecal occult testing products
5.13 Other products
Chapter 6 Market Estimates and Forecast, By Purchase, 2021 - 2032 ($ Mn)
6.1 Key trends
6.2 OTC
6.3 Prescription-based tests
Chapter 7 Market Estimates and Forecast, By Technology/Platform, 2021 - 2032 ($ Mn)
7.1 Flow-through
7.2 Solid phase
7.3 Lateral flow
7.4 Agglutination assays
7.5 Other technologies
Chapter 8 Market Estimates and Forecast, By Distribution Channel, 2021 - 2032 ($ Mn)
8.1 Hospital pharmacies
8.2 Brick and mortar
8.3 E-commerce
8.4 Other distribution channels
Chapter 9 Market Estimates and Forecast, By End-use, 2021 - 2032 ($ Mn)
9.1 Diagnostic centers
9.2 Homecare settings
9.3 Hospitals and clinics
9.4 Other end users
Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)