Rapid diagnostic tests (RDTs) can be divided into rapid antibody test and rapid antigen tests. Rapid antibody tests include, rapid HIV test and rapid plasma regain. Rapid antigen tests include, rapid influenza diagnostic test, malaria antigen detection tests, rapid strep test, and rapid urease test.

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

Approval and launch of new tests is expected to propel growth of the global rapid medical diagnostic kits market over the forecast period. For instance, in February 2019, Abbott Laboratories received CE Mark for Determine HBsAg 2 test, a rapid diagnostic test for the detection of hepatitis B surface antigen.

Global Rapid Medical Diagnostic Kits Market: Opportunities

Increasing awareness regarding hepatitis is expected to offer lucrative growth opportunities for players in the global rapid medical diagnostic kits market. For instance, in May 2020, Echosens, a provider of non-invasive diagnostic products and services for liver diagnosis, urged increased vigilance around liver health during May 2020 Hepatitis Awareness Month.

Global Rapid Medical Diagnostic Kits Market: Restraints

Low accuracy of RDTs is expected to hinder growth of the market. For instance, For instance, in May 2020, a study by researchers at New York University found that a COVID-19 rapid diagnostic made by Abbott Laboratories failed to detect up to 48% of positive results.

Key Takeaways:

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 A.B% between 2020 and 2027. Increasing prevalence of infectious diseases and growing awareness for diseases such as hepatitis is expected to drive the market during the forecast period.

Lateral flow segment held dominant position in the global rapid medical diagnostic kits market in 2019, accounting for 43.8% share in terms of value. Increasing research and development activity and increasing product approvals is expected to drive the market growth during the forecast period.

Market Trends

R&D of new diagnostic approaches is expected to aid in growth of the market. For instance, in September 2019, researchers from University of Helsinki, Finland, reported that the antibody response against Puumala orthohantavirus can be measured at a high sensitivity and specificity with the unorthodox point-of-care assay LFRET, a novel rapid assay for anti-tissue transglutaminase antibody detection, using urine as sample matrix.

Major players in the market are focused on developing diagnostic solutions for Covid-19. For instance, in March 2020, Quest Diagnostics announced to launch a coronavirus (COVID-19) test service that aids the presumptive detection of nucleic acid in respiratory specimens of patients meeting the Centers for Disease Control and Prevention’s clinical criteria for COVID-19 testing.

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 partnership strategies to expand their product portfolio. For instance, in January 2020, LabCorp, along with its subsidiary Covance Inc., partnered with GENFIT, a biopharmaceutical company focused on R&D in liver diseases, for access to non-alcoholic steatohepatitis liver diagnostic test for the clinical research market.

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.
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