Rapid diagnostic tests (RDTs) are inexpensive, membrane-based and disposable assays that offer visible proof of the presence of liquid analyte sample. RDTs can be used as an alternative to microscopy in situations where reliable microscopic diagnosis is not available.

Statistics:

The global rapid medical diagnostic kits market is estimated to account for US$ 38,173.9 Mn in terms of value by the end of 2027.

Global Rapid Medical Diagnostic Kits Market: Drivers

Increasing prevalence of infectious diseases is expected to propel growth of the global rapid medical diagnostic kits market over the forecast period. For instance, according to UNAIDS Global HIV & AIDS statistics — 2019 fact sheet, 37.9 million [32.7 million–44.0 million] people globally were living with HIV (end 2018).

Moreover, increasing migration of people is also expected to aid in growth of the market. For instance, in 2019, according to United Nations’ International Migration 2019 report, the number of international migrants worldwide reached nearly 272 million, up from 153 million in 1990.

Statistics:

North America held dominant position in the global rapid medical diagnostic kits market in 2019, accounting for 44.4% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Rapid Medical Diagnostic Kits Market Share (%) Value, By Region, 2019

Rapid Medical Diagnostic Kits  | Coherent Market Insights

Global Rapid Medical Diagnostic Kits Market: Restraints

Failure to eliminate the need for microscopy diagnosis is expected to hinder the market growth. RDTs fail to detect certain infections with lower number of parasites circulating in the sample. RDT diagnosis is often followed by microscopy diagnosis questioning the reliability and accuracy of rapid diagnostic kits.

Moreover, lack of awareness about the availability of advanced rapid diagnostic products coupled with the low purchasing power of the general population and small and medium level healthcare facilities is also expected to limit the market growth.

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Rapid Medical Diagnostic Kits Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 25,765.5 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.0% 2027 Value Projection: US$ 38,173.9 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Type: Lateral flow, Agglutination assays, Flow-through, Solid-phase (“dipstick” assays).
  • By Application: Clinical testing, Home-use, Veterinary.
Companies covered:

Abaxis, Inc., Abbott Laboratories, Inc., Becton, Dickinson & Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter), LabCorp, MegaCor Diagnostik GmbH, F. Hoffmann-La Roche Ltd., Trinity Biotech plc.

Growth Drivers:
  • Increasing prevalence of infectious diseases
  • Approval and launch of new products
Restraints & Challenges:
  • Product recall

Global Rapid Medical Diagnostic Kits Market: Opportunities

R&D in biochips is expected to offer lucrative growth opportunities for players in the global rapid medical diagnostic kits market. For instance, in May 2020, researchers from Russian Academy of Sciences, Russia, reported development of 3D biochips and optimized analytical procedures that can facilitate further studies towards practical application for hepatitis C virus detection.

Moreover, increasing funding for R&D of new rapid tests is also expected to aid in growth of the market. For instance, in January 2018, University of Glasgow-led project received US$ 1.85 million funding, which is a part of Global Challenges Research Fund (GCRF). This project will develop new tests for parasitic diseases and rapid testing in remote locations to help enable rapid diagnosis and rapid treatment of infectious diseases.

Statistics:

The global rapid medical diagnostic kits market was valued at US$ 25,765.5 Mn in 2019 and is forecast to reach a value of US$ 38,173.9 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027.

Figure 2: Global Rapid Medical Diagnostic Kits Market Value (US$ Mn), 2016 – 2027

Rapid Medical Diagnostic Kits  | Coherent Market Insights

Market Trends/Key Takeaways

Increasing prevalence of Covid-19 is expected to propel growth of the global rapid medical diagnostic kits market. For instance, as of 2:20pm CEST, June 11, 2020, there have been 7,273,958 confirmed cases of COVID-19, including 413,372 deaths, as reported to the World Health Organization (WHO).

Unfavorable reimbursement scenario is expected to adversely impact the market growth. For instance, in July 2018, the Centers for Medicare & Medicaid Services significantly reduced reimbursement for evaluation and management of complex cases such as those suffering from infectious diseases.

Global Rapid Medical Diagnostic Kits Market: Competitive Landscape

Major players operating in the global rapid medical diagnostic kits market include, Abaxis, Inc., Abbott Laboratories, Inc., Becton, Dickinson & Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter), , LabCorp, MegaCor Diagnostik GmbH, F. Hoffmann-La Roche Ltd., Trinity Biotech plc.

Global Rapid Medical Diagnostic Kits Market: Key Developments

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in April 2020, Bio-Rad Laboratories, Inc. acquired Celsee, Inc., a developer of instruments and consumables for the isolation, detection, and analysis of single cells.

Similarly, in March 2020, Thermo Fisher Scientific Inc. announced to acquire QIAGEN N.V., a provider of molecular diagnostics and sample preparation technologies.

Rapid Medical Diagnostic Kits comprises rapid antibody test and rapid antigen tests. Rapid antibody tests are used for HIV test and rapid plasma regain, whereas rapid antigen tests include, rapid influenza diagnostic test, malaria antigen detection tests, rapid strep test, and rapid urease test. Increasing prevalence of infectious diseases along with increasing Approval and launch of new tests is expected to propel growth of the global rapid medical diagnostic kits market over the forecast period. Moreover, increasing awareness regarding hepatitis, and increasing funding for R&D of new rapid tests is also expected to assist the market growth.

Key features of the study:

  • This report provides in-depth analysis of the Global Rapid Medical Diagnostic Kits market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Rapid Medical Diagnostic Kits market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Abaxis, Inc., Abbott Laboratories, Inc., Becton, Dickinson & Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter), LabCorp, MegaCor Diagnostik GmbH, F. Hoffmann-La Roche Ltd., Trinity Biotech plc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Rapid Medical Diagnostic Kits market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Rapid Medical Diagnostic Kits market

Detailed Segmentation:

  • Global Rapid Medical Diagnostic Kits Market, By Type:
    • Lateral flow
    • Agglutination assays
    • Flow-through
    • Solid-phase (“dipstick” assays)
  • Global Rapid Medical Diagnostic Kits Market, By Application:
    • Clinical testing
      • Infectious disease testing
      • Cholesterol monitoring
      • Substance abuse testing
      • Fertility & Pregnancy testing
      • Blood Glucose testing
    • Home-use
      • Blood glucose monitoring
      • Fertility & pregnancy testing
      • Cholesterol monitoring
      • Infectious disease
      • Substance abuse testing
    • Veterinary
  • Global Rapid Medical Diagnostic Kits Market, By Region:
    • North America
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Type:
        • Lateral flow
        • Agglutination assays
        • Flow-through
        • Solid-phase (“dipstick” assays)
      • By Application
        • Clinical testing
          • Infectious disease testing
          • Cholesterol monitoring
          • Substance abuse testing
          • Fertility & Pregnancy testing
          • Blood Glucose testing
        • Home-use
          • Blood glucose monitoring
          • Fertility & pregnancy testing
          • Cholesterol monitoring
          • Infectious disease
          • Substance abuse testing
        • Veterinary
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Abaxis Inc. *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Abbott Laboratories, Inc.
    • Becton, Dickinson & Company
    • Bio-Rad Laboratories, Inc.
    • Danaher Corporation (Beckman Coulter)
    • LabCorp
    • MegaCor Diagnostik GmbH
    • F. Hoffmann-La Roche Ltd
    • Trinity Biotech plc.
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • Impact of COVID19 on market
  4. Global Rapid Medical Diagnostic Kits Market, By Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Lateral flow
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Agglutination assays
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Flow-through
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Solid-phase (“dipstick” assays)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Rapid Medical Diagnostic Kits Market, By Application, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Clinical testing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Infectious disease testing
        • Cholesterol monitoring
        • Substance abuse testing
        • Fertility & Pregnancy testing
        • Blood Glucose testing
    • Home-use
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Blood glucose monitoring
        • Fertility & pregnancy testing
        • Cholesterol monitoring
        • Infectious disease
        • Substance abuse testing
    • Veterinary
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Rapid Medical Diagnostic Kits Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • Abaxis, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abbott Laboratories, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Becton, Dickinson & Company
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bio-Rad Laboratories, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Danaher Corporation (Beckman Coulter)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • LabCorp
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • MegaCor Diagnostik GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • F. Hoffmann-La Roche Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Trinity Biotech plc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Rapid Medical Diagnostic Kits Market - Global forecast to 2027”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users