According to a new report published by Allied Market Research, titled, “Rapid Tests Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global rapid tests market size was valued at $33,329.15 million in 2020, and is projected to reach $97,606.33 million by 2030, registering a CAGR of 11.3% from 2021 to 2030.
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The increasing incidence of chronic diseases such as diabetes, heart disease, and cancer, increased availability of tests due to the convenience of testing, and low cost of testing are the major factors driving the market growth. quick test. In addition, other factors such as speed of analysis, specificity, and stability are driving the growth of the market worldwide. In addition, the growth in personalized care and the increase in support programs by manufacturers encourage the use of rapid testing, which improves market growth.
However, strict government regulations for the adoption of rapid testing and the recall of many products due to false results are expected to hinder market growth. The coronavirus disease (COVID-19) began in late December 2019 in the Hubei province of Wuhan, China. The virus, the severe respiratory disease coronavirus 2 (SARS-CoV-2) is transmitted among humans. The COVID-19 rapid test kit helps in the diagnosis of the corona virus and thus provides important advice for the subsequent diagnosis, treatment and treatment of COVID-19. The demand for rapid COVID-19 testing has increased with the increase in the number of COVID-19 patients.
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Key market players:
- Akers Biosciences, Inc.
- Alere Inc. (Abbott Laboratories)
- Becton, Dickinson and Company
- Bio-rad Laboratories, Inc.
- Cepheid, Inc.
- Hologic, Inc.
- Meridian Bioscience, Inc.
- OraSure Technologies, Inc
Key findings of the study:
- Based on product, the over-the-counter (OTC) rapid test product segment is expected to show the fastest rapid tests market growth, at a CAGR of 11.9% from 2021 to 2030.
- Based on application, the glucose monitoring segment held maximum global rapid tests market share in 2020 and is expected to remain dominant throughout the forecast period.
- Based on end user, the hospitals & clinicssegment exhibited growth at a CAGR of 11.8% from 2021 to 2030.
- Based on region, Asia-Pacific is projected to experience growth at the highest rate, registering a CAGR of 12.8% during the forecast period.
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Global Rapid Test Market: OverviewThe demand within the global market for rapid test has been rising on account of the popularity of preliminary screening across medical facilities.
The need for diagnostic tests across various domains within healthcare has created commendable growth opportunities within the global market for rapid test.
The most unique characteristic of this form of testing is the limited use of resources and the simplicity of execution.
Hence, it is safe to assert that the demand dynamics of the global market for rapid testing would significantly improve in the years to come.
The dynamics of the aforementioned segments shall help in getting a deeper peek into the global rapid test market.A report added by Transparency Market Research (TMR) on the global market for rapid test lays value on several key dynamics that have market growth in recent times.
Moreover, the stability of rapid tests at high temperatures coupled with the short span of execution for these tests has given an impetus to the growth of the global market.
The latest trending report Global Rapid Tests Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Rapid Tests market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 4.2% in the forecast period of 2020 to 2025 and will expected to reach USD 12550 million by 2025, from USD 10650 million in 2019.The Rapid Tests market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/47165-rapid-tests-industry-analysis-reportThe major players covered in Rapid Tests are:Akers Biosciences, Inc.OraSure Technologies, Inc.Bio-rad Laboratories, Inc.AbbottMeridian Bioscience, Inc.Becton, Dickinson and CompanyRoche DiagnosticsHologic, Inc.Cepheid, Inc.Quidel CorporationBy Type, Rapid Tests market has been segmented into: Over-the-counter (OTC) Rapid Test Product Professional Rapid Test ProductBy Application, Rapid Tests has been segmented into: Infectious Disease Cardiology Oncology Pregnancy and Fertility Toxicology Glucose Monitoring OthersThe report offers in-depth assessment of the growth and other aspects of the Rapid Tests market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia) South America (Brazil, Argentina, Colombia) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Rapid Tests Market @ https://www.decisiondatabases.com/contact/download-sample-47165There are 14 Chapters to deeply display the Global Rapid Tests market.1 Rapid Tests Market Overview2 Company Profiles3 Market Competition, by Players4 Market Size by Regions5 North America Rapid Tests Revenue by Countries6 Europe Rapid Tests Revenue by Countries7 Asia-Pacific Rapid Tests Revenue by Countries8 South America Rapid Tests Revenue by Countries9 Middle East & Africa Revenue Rapid Tests by Countries10 Market Size Segment by Type11 Global Rapid Tests Market Segment by Application12 Global Rapid Tests Market Size Forecast (2021-2025)13 Research Findings and Conclusion14 AppendixPurchase the complete Global Rapid Tests Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-47165Other Reports by DecisionDatabases.com:Global Relationship DNA Tests Market 2019 by Company, Regions, Type and Application, Forecast to 2024Global Precision Cancer Tests Market 2019 by Company, Regions, Type and Application, Forecast to 2024Global C-Reactive Protein Test (CRP) Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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