PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419099
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419099
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.
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.
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.
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.
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.
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).
The scope of this report covers the market by its major segments, which include as follows: