Rapid Medical Diagnostic Kits Market Revenue To Reach Huge Milestone $8.02 Bn By 2032

Zion Market Research has published a report on the global Rapid Medical Diagnostic Kits Market, estimating its value at USD 1.51 Billion in 2023, with projections indicating that it will reach USD 8.02 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 20.4% over the forecast period 2024-2032.

Reportedly, breakthroughs such as launching of rapid medical diagnostic kits (using immunochromatographic equipment) for identifying antibodies in sparganosis of humans is likely to result in immense product utilization in various healthcare organizations across globe. In addition to this, in 2018, NIH researchers had developed rapid diagnostic kit for determining IgG/IgM antibodies against Zika Virus. Moreover, rapid medical diagnostic test kits are recommended by physicians for detecting Malaria and enhancing home management of Malaria.

Furthermore, rapid medical diagnostic kits are also utilized for detecting influenza A/B virus. For the record, a large number of rapid influenza diagnostic kits were launched in South Korea and this included Binax Now Influenza A/B antigen kit, Directizen EZ Flu A and B, SD Bioline Rapid Influenza Kit, Genedia Influenza Ag, and Humasis Influenza A/B Antigen Test kit. This will further drive growth of rapid medical diagnostic kit market in years ahead. Easy availability of rapid medical diagnostic kits for home testing of HIV in countries such as the U.S. will embellish industry landscape.

Surge In Chronic Contagious Diseases To Spur Market Expansion Over 2023-2032

A rampant increase in COVID spread has created huge demand for rapid medical, diagnostics kits to curtail swift spread of the disease. Apart from this, rise in contagious diseases across globe apart from COVID disease witnessed in various parts of world such as Zika Virus in Brazil has bolstered penetration of product in healthcare sector across globe. All these aforementioned aspects will steer expansion of rapid medical diagnostic kits industry in upcoming years. Surging geriatric population prone to chronic disorders has culminated into massive market demand in recent years. Apparently, need for identifying new microbes causing viral infections will promulgate growth of rapid medical diagnostic kits market in years to come.

North America To Make Sizable Contributions Towards Regional Market Revenue By 2032

Growth of rapid medical diagnostic kits industry over forecast timeline is due to rise in number of disease diagnostic testing units in countries such as the U.S. and Canada with COVID-19 outbreak. Rise in number of product manufacturers and vendors in region will further account for regional market growth. For the record, a large number of diagnostic firms in the U.S. are involved in production of COVID-19 rapid medical diagnostic kits and awaiting U.S. FDA approval. Such strategic moves will accentuate growth of rapid medical diagnostic kits market in years ahead.  

Key players influencing market growth and profiled in report include BTNX, Inc., F. Hoffmann-La Roche AG, ACON Laboratories, Inc., Meridian Bioscience, Inc., Creative Diagnostics, bioMérieux SA,  Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Abbott Laboratories, Trinity Biotech, Alfa Scientific Designs, Inc., McKesson Medical-Surgical, Inc., Artron Laboratories Inc., Danaher Corporation, Cardinal Health, Zoetis, and Sight Diagnostics Ltd.

Browse the full “Rapid Medical Diagnostic Kits Market - By Product (OTC Kits And Professional Kits), By Technology (Lateral Flow, Agglutination Assays, Flow-Through, And Solid-Phase), By Application (Clinical Testing And Home-Use), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2023-2032.” Report at https://www.zionmarketresearch.com/report/rapid-medical-diagnostic-kits-market

The report segments global Rapid Medical Diagnostic Kits Market as follows:

By Product

• OTC Kits
• Professional Kits

By Application

• Home-use
• Clinical testing

By Technology

• Lateral Flow
• Flow-Through
• Solid-phase
• Agglutination Assays

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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