Dublin-(BUSINESS WIRE)-”Global rapid test kit market by type (rapid antigen test and rapid antibody test), by product type (over-the-counter drug (OTC) rapid test kit and professional rapid test kit market test tools) ), technology, duration, applications, end users, regions, forecasts and opportunities, by 2026″ report has been added to ResearchAndMarkets.com products.
In 2020, the global rapid test kit market is valued at USD 23.44 billion and is expected to grow at an alarming rate of 8.14% during the forecast period.
The global rapid test kit market is driven by the increasing prevalence of various infectious diseases. In addition, the advantages associated with rapid test kits, such as low cost, accuracy, early disease diagnosis, rapid results, stability at high temperatures, etc., are expected to further drive market growth to 2026.
In addition, the sudden outbreak and spread of the pandemic COVID-19 has greatly increased the demand for rapid test kits, thereby driving market growth during the forecast period. Many major biotech and pharmaceutical companies have developed their own rapid test kits, and many companies are still investing, researching and working to develop better and more advanced rapid test kits. This is expected to create rich opportunities for market growth in the next few years.
The global rapid test kit market is segmented according to type, product type, technology, duration, application, end user, company, and region. According to product types, the market can be divided into over-the-counter (OTC) rapid test kits and professional rapid test kits. Among them, because professional rapid test kits are widely used for preliminary screening in hospitals and clinics, they are expected to occupy the market during the forecast period.
According to applications, the market can be subdivided into infectious diseases, heart disease, oncology, pregnancy and fertility, toxicology, blood glucose monitoring, etc. Here, due to the increase in the number of global infections, the infectious disease market is expected to occupy an important market share. In addition, due to the increase in diabetes cases, the blood glucose monitoring field is expected to show the highest growth.
Regionally, the global rapid test kit market has been subdivided into Asia Pacific, North America, South America, Europe, and the Middle East and Africa. In these regions, due to sound medical infrastructure and the presence of major pharmaceutical and biotech giants in the region, North America is expected to dominate the entire rapid test kit market.
However, due to the emergence of a large number of patients suffering from various life-threatening diseases in economies such as China and India, the Asia-Pacific market is expected to grow strongly.
Major operators are developing advanced technologies and launching new products to maintain market competitiveness. Other competitive strategies include mergers and acquisitions.
6.2.4. By time (less than 10 minutes, less than 30 minutes, less than 1 hour, 1 hour 2 hours, other)
6.2.5. By application (infectious diseases, cardiology, oncology, pregnancy and fertility, toxicology, blood glucose monitoring, etc.)
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours please call 1-917-300-0470 US/Canada toll free 1-800-526-8630 GMT office hours please call +353-1-416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours please call 1-917-300-0470 US/Canada toll free 1-800-526-8630 GMT office hours please call +353-1-416- 8900
Post time: Feb-02-2021