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The global Rapid Tests market is expected to reach USD 23.43 billion by 2033, at a CAGR of 4.2% during the forecast period 2024 to 2033. Rising cases of Infectious Diseases will drive the market growth. This is because rapid tests give very accurate and fast results, which help the doctor detect the disease in time, and the right treatment can be given to the patient. After COVID, the demand for point-of-care testing has increased. Europe is expected to grow the fastest during the forecast period.
Rapid tests, also known as rapid diagnostic tests or RDTs, are simple procedures that give results in under 20 minutes. Unlike most routine tests, which must be submitted to a lab for examination, fast tests are performed at the point of treatment, and results are immediate. The place where a patient receives treatment is referred to as the point of care. It could be in the doctor's office, a clinic, or even at the patient's home. Patients can perform a simple self-test to get the results immediately. This may allow receiving treatment at the earliest. Various governments have launched several initiatives during the COVID-19 crisis to support the testing requirements of their different nations at the start of COVID-19. For instance, the German federal government mandated in April 2021 that companies provide free COVID-19 self-testing kits once a week to workers who are not working from home. Rapid tests prove very helpful in emergency cases. Doctors can effectively treat emergency cases such as strokes and heart attacks, among other conditions, with prompt diagnosis. With the help of rapid tests, doctors can easily improve the disease and change the treatment according to the need. Rapid tests are not only for humans; this test is also available for animals. Through this, doctors can diagnose and treat diseases found in animals. With this, new or old diseases spreading through animals can be detected.
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Increasing Disposable Income- Increased personal disposable income, rising toxicity incidents internationally, and rising living standards, particularly in developing nations, are the primary factors driving market expansion. As the disposable income increases the spending power of consumers increases which adds impetus to the market’s growth. People will have more money to spend on the healthcare requirements and can easily go for rapid tests to check the any disease prevailing in the body. Other major market growth determinants include changing lifestyles, modernization, escalating health issues, an increasing geriatric population, and an ever-increasing worldwide population.
Lack of accuracy - Rapid tests usually do not show accurate test results. This hampers the market’s growth and reduces the efficiency of the tests done through rapid test kits. User error can also affect the result. Antigen Tests are not much sensitive as PCR-based tests. Antigen Tests can only detect the virus in 80% of people. Furthermore, in most cases, a rapid test kit cannot identify a disease or a condition due to a lack of sensitivity, which also affects the market’s growth.
Rising Consumer Awareness- People these days are becoming aware of the importance of health conditions and can use equipment’s and rapid tests kits at home. This is expected to provide growth opportunities for the market during the forecast period.
Lack of awareness- A lack of knowledge about recently developed fast diagnostic tests and changes in the technology is expected to challenge the market’s growth during the forecast period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global Rapid Tests market, with a 37% share of the market revenue in 2023. This is mainly because of the high prevalence of upper respiratory disorders and antibiotic-resistant infections, high healthcare spending, and the introduction of technologically improved products, the market in North America is expected to grow during the forecast period. Furthermore, supportive government initiatives and an increase in awareness of the use of PoC & fast diagnostics for the detection of various ailments in the region are driving market expansion. For instance, Chembio Diagnostics, Inc. will introduce a quick point-of-care COVID-19/Flu A&B test in the United States in April 2021.
Europe is expected to witness the fastest growth during the forecast period. This is due to industrialized economies such as Germany and Italy, excellent R&D infrastructure, and a growing patient pool. Furthermore, Europe's significant geriatric population of 90.4 million is supporting growth. Moreover, Europe is experiencing new IVD and medical device rules that are set to be updated by the end of 2022, offering a more sustainable and rigorous framework for compliance with diagnostic devices.
North America Region Rapid Tests Market Share in 2023 - 37%
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The product segment is divided into consumables, instruments, and others. The consumables segment dominated, with a market share of around 39.4% in 2023. This is due to rising testing rates for upper respiratory infections and the commercialization of various PoC assays. In the forecast period, market expansion is projected to be fuelled by rising product releases, R&D investments in molecular diagnostic technologies, and demand for Point-of-Care (POC) and self-test devices. Antibiotic-resistant diseases are a serious concern worldwide, driving demand for consumer goods. The issue is being aggressively addressed by organisations. For instance, in April 2021, the WHO incorporated BD MAX's Molecular Multi-Drug Resistant Tuberculosis (MDR-TB) Assay, which was recognised for the precision in TB testing and included under the revised TB diagnostic test recommendations, in its moderate complexity automated NAAT MDx technology.
The technology segment is divided into molecular diagnostics, immunoassay, and others. Over the forecast period, the immunoassay segment is expected to grow at the fastest CAGR of 5.3%. On the market, there are numerous rapid immunoassays with excellent efficacy. RSV immunoassay-based rapid diagnostics next-generation lateral flow Digital Immunoassay (DIA) methods for qualitatively recognising RSV viral antigens include Directigen, QuickVue, Sofia, and BD Veritor. The rapid RSV antigen test is also the most broadly used test. The majority of RSV antigen testing results are accessible within an hour, in a doctor's office, on-site, or an emergency room.
The application segment is divided into sepsis, upper respiratory tract infections, and antibiotic-resistant infection. The upper respiratory tract infections segment dominated, with a market share of around 40.23% in 2023. This is due to high rates of contagious diseases. Furthermore, the market is being propelled by the invention of new fast diagnostics. Influenza and parainfluenza viruses, members of the streptococcus family of pathogens, and respiratory syncytial virus are all connected to upper respiratory tract illnesses.
The end-user segment is divided into laboratory, and hospitals. The hospitals segment dominated, with a market share of around 62.23% in 2023. Because of the growing demand for POC tests by doctors. POC diagnostics allows clinicians to track patients' health more efficiently. It is advantageous for healthcare staff since it allows the diagnosis system to move and effectively approach the patient. Through single-level hospital access and market expansion, wireless connections and small devices can enhance hospital-based POC diagnostics.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 15.53 billion |
| Market size value in 2033 | USD 23.43 billion |
| CAGR (2024 to 2033) | 4.2% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Regional Segments | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
| Segments | Product, Technology, Application, End-User |
As per The Brainy Insights, the size of the rapid tests market was valued at USD 15.53 billion in 2023 to USD 23.43 billion by 2033.
The global rapid tests market is growing at a CAGR of 4.2% during the forecast period 2024-2033.
North America emerged as the largest market for rapid tests.
Key players in the rapid tests market are BD (Becton, Dickinson and Company), bioMérieux SA, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Danaher Corporation, DiaSorin S.P.A, and Abbott.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product
4.3.2. Market Attractiveness Analysis by Technology
4.3.3. Market Attractiveness Analysis by Application
4.3.4. Market Attractiveness Analysis by End-User
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing Disposable Income
5.3. Restraints
5.3.1. Lack of accuracy
5.4. Opportunities
5.4.1. Rising Consumer Awareness
5.5. Challenges
5.5.1. Lack of awareness
6. Global Rapid Tests Market Analysis and Forecast, By Product
6.1. Segment Overview
6.2. Consumables
6.3. Instruments
6.4. Others
7. Global Rapid Tests Market Analysis and Forecast, By Technology
7.1. Segment Overview
7.2. Molecular Diagnostics
7.3. Immunoassay
7.4. Others
8. Global Rapid Tests Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Sepsis
8.3. Upper Respiratory Tract Infections
8.4. Antibiotic-Resistant Infection
9. Global Rapid Tests Market Analysis and Forecast, By End-User
9.1. Segment Overview
9.2. Laboratory
9.3. Hospitals
10. Global Rapid Tests Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Rapid Tests Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Rapid Tests Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. BD (Becton, Dickinson and Company)
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. BioMérieux SA
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Thermo Fisher Scientific, Inc.
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. F. Hoffmann-La Roche Ltd.
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Danaher Corporation
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. DiaSorin S.P.A
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Abbott
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
List of Table
1. Global Rapid Tests Market, By Product, 2020-2033 (USD Billion)
2. Global Consumables, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
3. Global Instruments, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
4. Global Others, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
5. Global Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
6. Global Molecular Diagnostics, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
7. Global Immunoassay, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
8. Global Others, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
9. Global Rapid Tests Market, By Application, 2020-2033 (USD Billion)
10. Global Sepsis, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
11. Global Upper Respiratory Tract Infections, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
12. Global Antibiotic-Resistant Infection, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
13. Global Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
14. Global Laboratory, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
15. Global Hospitals, Rapid Tests Market, By Region, 2020-2033 (USD Billion)
16. North America Rapid Tests Market, By Product, 2020-2033 (USD Billion)
17. North America Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
18. North America Rapid Tests Market, By Application, 2020-2033 (USD Billion)
19. North America Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
20. U.S. Rapid Tests Market, By Product, 2020-2033 (USD Billion)
21. U.S. Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
22. U.S. Rapid Tests Market, By Application, 2020-2033 (USD Billion)
23. U.S. Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
24. Canada Rapid Tests Market, By Product, 2020-2033 (USD Billion)
25. Canada Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
26. Canada Rapid Tests Market, By Application, 2020-2033 (USD Billion)
27. Canada Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
28. Mexico Rapid Tests Market, By Product, 2020-2033 (USD Billion)
29. Mexico Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
30. Mexico Rapid Tests Market, By Application, 2020-2033 (USD Billion)
31. Mexico Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
32. Europe Rapid Tests Market, By Product, 2020-2033 (USD Billion)
33. Europe Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
34. Europe Rapid Tests Market, By Application, 2020-2033 (USD Billion)
35. Europe Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
36. Germany Rapid Tests Market, By Product, 2020-2033 (USD Billion)
37. Germany Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
38. Germany Rapid Tests Market, By Application, 2020-2033 (USD Billion)
39. Germany Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
40. France Rapid Tests Market, By Product, 2020-2033 (USD Billion)
41. France Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
42. France Rapid Tests Market, By Application, 2020-2033 (USD Billion)
43. France Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
44. U.K. Rapid Tests Market, By Product, 2020-2033 (USD Billion)
45. U.K. Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
46. U.K. Rapid Tests Market, By Application, 2020-2033 (USD Billion)
47. U.K. Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
48. Italy Rapid Tests Market, By Product, 2020-2033 (USD Billion)
49. Italy Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
50. Italy Rapid Tests Market, By Application 2020-2033 (USD Billion)
51. Italy Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
52. Spain Rapid Tests Market, By Product, 2020-2033 (USD Billion)
53. Spain Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
54. Spain Rapid Tests Market, By Application, 2020-2033 (USD Billion)
55. Spain Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
56. Asia Pacific Rapid Tests Market, By Product, 2020-2033 (USD Billion)
57. Asia Pacific Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
58. Asia Pacific Rapid Tests Market, By Application, 2020-2033 (USD Billion)
59. Asia Pacific Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
60. Japan Rapid Tests Market, By Product, 2020-2033 (USD Billion)
61. Japan Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
62. Japan Rapid Tests Market, By Application, 2020-2033 (USD Billion)
63. Japan Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
64. China Rapid Tests Market, By Product, 2020-2033 (USD Billion)
65. China Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
66. China Rapid Tests Market, By Application, 2020-2033 (USD Billion)
67. China Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
68. India Rapid Tests Market, By Product, 2020-2033 (USD Billion)
69. India Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
70. India Rapid Tests Market, By Application, 2020-2033 (USD Billion)
71. India Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
72. South America Rapid Tests Market, By Product, 2020-2033 (USD Billion)
73. South America Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
74. South America Rapid Tests Market, By Application, 2020-2033 (USD Billion)
75. South America Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
76. Brazil Rapid Tests Market, By Product, 2020-2033 (USD Billion)
77. Brazil Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
78. Brazil Rapid Tests Market, By Application, 2020-2033 (USD Billion)
79. Brazil Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
80. Middle East and Africa Rapid Tests Market, By Product, 2020-2033 (USD Billion)
81. Middle East and Africa Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
82. Middle East and Africa Rapid Tests Market, By Application, 2020-2033 (USD Billion)
83. Middle East and Africa Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
84. UAE Rapid Tests Market, By Product, 2020-2033 (USD Billion)
85. UAE Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
86. UAE Rapid Tests Market, By Application, 2020-2033 (USD Billion)
87. UAE Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
88. South Africa Rapid Tests Market, By Product, 2020-2033 (USD Billion)
89. South Africa Rapid Tests Market, By Technology, 2020-2033 (USD Billion)
90. South Africa Rapid Tests Market, By Application, 2020-2033 (USD Billion)
91. South Africa Rapid Tests Market, By End-User, 2020-2033 (USD Billion)
List of Figures
1. Global Rapid Tests Market Segmentation
2. Global Rapid Tests Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Rapid Tests Market Attractiveness Analysis by Product
9. Global Rapid Tests Market Attractiveness Analysis by Technology
10. Global Rapid Tests Market Attractiveness Analysis by Application
11. Global Rapid Tests Market Attractiveness Analysis by End-User
12. Global Rapid Tests Market Attractiveness Analysis by Region
13. Global Rapid Tests Market: Dynamics
14. Global Rapid Tests Market Share by Product (2023 & 2033)
15. Global Rapid Tests Market Share by Technology (2023 & 2033)
16. Global Rapid Tests Market Share by Application (2023 & 2033)
17. Global Rapid Tests Market Share by End-User (2023 & 2033)
18. Global Rapid Tests Market Share by Regions (2023 & 2033)
19. Global Rapid Tests Market Share by Company (2023)
This study forecasts global, regional, and country revenue from 2019 to 2032. Brainy Insights has segmented the global rapid tests market based on the below-mentioned segments:
Global Rapid Tests Market by Product:
Global Rapid Tests Market by Technology:
Global Rapid Tests Market by Application:
Global Rapid Tests Market by End-User:
Global Rapid Tests Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
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Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
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Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
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