Rapid Diagnostics Market Worth

1. Rapid Diagnostics Market Worth $26.4 billion by 2029 According to this latest publication from Meticulous Research®, the global rapid diagnostics market is expected to grow at a CAGR of 1.4% from 2022–2029 to reach $26.40 billion by 2029. The growth in the rapid diagnostics market is mainly attributed to the growing demand for POC diagnostics, the rising prevalence of chronic diseases coupled with the increasing aging population, the increasing need for rapid decision making in emergency departments, and emerging technological innovations. However, the occurrence of variances in test results is expected to hinder the growth of this market. The global rapid diagnostics market is segmented based on Product (Kits and Test Readers/Analyzers), Platform (Immunoassays, Molecular Detection, and Other Platforms), Application (Blood Glucose Testing, Cardiac Metabolism Testing, Infectious Diseases Testing, Coagulation Testing, Pregnancy & Fertility Testing, Fecal Occult Testing, Hematology Testing, Tumor/Cancer Markers Testing, Drugs Of Abuse Testing, Urinalysis, and Cholesterol Testing), End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care/Self Testing, and Other End Users) and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels. Based on product, the kits segment is estimated to account for the largest share of the rapid diagnostics market in 2022. The large share of this segment is attributed to the rising adoption and repetitive kits usage. In addition, the growing portfolio of disease-specific kits for the early diagnosis of chronic diseases and the increasing technological advancements are other factors supporting the growth of this segment. Based on platform, the immunoassays segment is estimated to account for the largest share of the rapid diagnostics market in 2022. The large share of this segment is attributed to the capability of immunoassay kits to provide fast and accurate results with high sensitivity in point-of-care diagnostics. Countries worldwide require rapid and accurate SARS-CoV-19 testing kits to tackle the COVID-19 pandemic. Thus, companies have started developing immunoassay kits that provide results with higher sensitivity, accuracy, and speed. For instance, in May 2021, Stream Bio (U.K.) and Chelsea Technologies (U.K.) formed a joint venture, Brightline Diagnostics (DX), and created a unique platform known as Claritas that couples fluorescent lateral flow test with a highly sensitive handheld reader, delivering significant advantages over existing assays. Based on application, the infectious disease testing segment is estimated to account for the largest share of the rapid diagnostics market in 2022. The large share of this segment is mainly attributed to the rising prevalence of infectious diseases and the growing demand for affordable infectious disease testing in emerging markets. For instance, in the U.S., the number of estimated new hepatitis A virus (HAV) infections increased by nearly three folds in 2017 compared to 2014.

2. In 2019, the number of estimated new hepatitis A virus (HAV) infections rose by approximately 51% compared to the previous year due to the significant increase in the homeless population and the population involved in drug abuse. Similarly, there is a large prevalence of infectious diseases in China. According to China’s Centre for Disease Control (CCDC), the country accounts for 3% of new HIV infections every year and reported over 850,000 people living with HIV. Based on end user, the hospitals & clinics segment is estimated to account for the largest share of the rapid diagnostics market in 2022. The large share of this segment is mainly attributed to the increasing demand for point-of-care diagnostics and the rising healthcare expenditure worldwide. For instance, according to Invest India (National Investment Promotion and Facilitation Agency), the hospital and healthcare industry in India forecasts tremendous growth due to the significant increase in coverage and healthcare spending. In addition, the government announced plans to spend over $200 billion on medical infrastructure by 2024, which will support the establishment of new hospitals & clinics. ????????????????????? @https://www.meticulousresearch.com/request-sample- report/cp_id=5240?utm_source=product&utm_medium=Social&utm_campaign=Product&utm_cont ent=09-01-2023 Scope of the Report Rapid Diagnostics Market, by Product Kits OTC Kits Professional Kits Equipment Rapid Diagnostics Market, by Platform Immunoassays Lateral Flow Assays Serological Assays Other Immunoassays Molecular Detection Other Platforms (Note – Other Immunoassays includes flow through immunoassays and agglutination assays; and Other platforms mainly include coagulation tests, glucose monitoring systems, dipsticks, and other rapid diagnostic platforms)

3. Rapid Diagnostics Market, by Application Infectious Diseases Testing COVID-19 Testing Healthcare-associated Infections (HAI) Testing Hepatitis Testing Hepatitis B Hepatitis C Tropical Diseases Testing HIV Testing Respiratory Diseases Testing (other than Influenza and COVID-19) Influenza Testing Sexually Transmitted Diseases (STD) Testing Other Infectious Diseases Testing Pregnancy & Fertility Testing Cardiac Metabolism Testing Cholesterol Testing Tumor/Cancer Markers Testing Blood Glucose Testing Urinalysis Hematology Testing Other Tests (Note – Other tests include drugs of abuse, fecal occult, and coagulation tests; Other infectious disease testing include meningitis, norovirus (“stomach flu”), hand, foot and mouth disease (HFMD), and pertussis) Rapid Diagnostics Market, by End User Hospitals & Clinics Diagnostic Laboratories Home Care/Self Testing Other End Users Global Rapid Diagnostics Market, by Geography

4. North America U.S. Canada Europe Germany U.K. France Italy Spain Rest of Europe (RoE) Asia-Pacific (APAC) China Japan India Rest of APAC (RoAPAC) Latin America Middle East & Africa ?????????????????? @https://www.meticulousresearch.com/download-sample- report/cp_id=5240?utm_source=product&utm_medium=Social&utm_campaign=Product&utm_cont ent=09-01-2023