Rapid Test Kit Market

Rapid test kits are designed for the use where initial screening test result is required and is useful for resource limited settings. These are high-quality kit and are useful in resource-limited countries. The tests conducted are based on immune chromatographic, immune-dot, and immune-filtration techniques. The results from test kits are obtained within the same day, and it is convenient to store test kit at room temperature for a extended period of time.

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The key factors propelling the growth of the global rapid test kit market include the increasing government initiatives on multiple research studies, the growing need for fast detection of diseases, and the rising number of COVID-19 patients across the world. The global pandemic COVID-19 is affecting the overall population of the world drastically. The number of COVID-19 patients is increasing rapidly across the world, which generates the demand for rapid test kits in the market. Rapid test kits help in the initial diagnosis of the disease and provide accurate results, which play an important role during the treatment of patients.

Developing economies such as India are focusing on the development of rapid test kits to detect the COVID-19 virus in order to limit its spread. As The National Institute of Virology (NIV) in India has developed an indigenous antibody detection kit for COVID-19. The test kit would be able to test more than 85 samples in a single run of more than 2 hours. This would help healthcare professionals to proceed with the next steps of the treatment.

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On the basis of technology, the market is segmented into flow through solid phase, lateral flow, and agglutination assays. Among these, the lateral flow technology is expected to witness a higher CAGR during the forecast period. This technology is majorly used in the animal health industry for monitoring multiple health conditions such as fertility, equine pregnancy, infectious diseases, and others. Thus, the high demand for veterinary test kits among individuals for pets is fuelling the growth of the segment.

Based on the application, the market is segmented into hospitals and clinical testing, home testing, and veterinary testing. Among these, the hospitals and clinical testing segment is expected to lead the market in 2019. This is due to the increasing number of chronic diseases across the world, which generated the demand for test kits in order to reduce the diagnosis time. Moreover, home test kits would witness substantial growth during the forecast period. Home test kits are convenient for patients to use at home for rapid diagnosis, which saves costs and time invested in testing laboratories. Such factors lead to the growth of the segment.

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Based on region, North America is anticipated to lead the market in during the forecast period. This is due to the increasing number of COVID-19 cases in the region and the large presence of advanced healthcare infrastructure. Additionally, Asia Pacific is projected to advance at a higher CAGR during the forecast period. This is due to the high number of populations in countries like India and China. The countries consist of multiple patients with untreated medical conditions, which increases the demand for rapid test kits in the region.

Some of the major players operating in the market include ACON Laboratories, Inc., Abbott Laboratories Inc, Alfa Scientific Designs Inc., Artron Laboratories Inc., Becton, Dickinson and Company, BTNX Inc., Meridian Bioscience Inc., Creative Diagnostics, and F. Hoffmann-La Roche Ltd.

The global rapid test kit market has been segmented on the basis of technology, product type, duration, type, application, and region. Based on technology, the market is segmented into flow through, solid phase, lateral flow, and agglutination assays. Based on product type, the market is segmented into Over-the-counter Rapid Test Kit and Professional Rapid Test Kit. Based on duration, the market is segmented into Less than 10 minutes, Less than 30 minutes, Less than 1 hour, 1 hour-2 hour and Others. Based on type, the market is segmented into Rapid Antigen Test v/s Rapid Antibody Test. Based on application, the market is segmented into hospitals and clinical testing, home testing, and veterinary testing.

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Key questions answered in this research report:

• • At what pace is global rapid test kit market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global rapid test kit market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global rapid test kit market?
  • Which technology generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the various applications of global rapid test kit market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Product Type, By Duration, By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ACON Laboratories, Inc., Abbott Laboratories Inc, Alfa Scientific Designs Inc., Artron Laboratories Inc., Becton, Dickinson and Company, BTNX Inc., Meridian Bioscience Inc., Creative Diagnostics, F. Hoffmann-La Roche Ltd., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Rapid Test Kit Market by Technology

• • Flow Through
  • Solid Phase
  • Lateral Flow
  • Agglutination Assays
  • Others

Global Rapid Test Kit Market by Product Type

• • Over-the-counter (OTC) Rapid Test Kit
  • Professional Rapid Test Kit

Global Rapid Test Kit Market by Duration

• • Less than 10 minutes
  • Less than 30 minutes
  • Less than 1 hour
  • 1 hour-2 hour
  • Others

Global Rapid Test Kit Market by Type

• • Rapid Antigen Test
  • Rapid Antibody Test

Global Rapid Test Kit Market by Application

• • Hospitals and Clinical Testing
  • Home Testing
  • Veterinary Testing

Global Rapid Test Kit Market by Region

• • North America Rapid Test Kit Market (Option 1: As a part of the free 25% customization)
    • North America Rapid Test Kit Market by Technology
    • North America Rapid Test Kit Market by Product Type
    • North America Rapid Test Kit Market by Duration
    • North America Rapid Test Kit Market by Type
    • North America Rapid Test Kit Market by Application
    • US Rapid Test Kit Market All-Up
    • Canada Rapid Test Kit Market All-Up
  • Europe Rapid Test Kit Market (Option 2: As a part of the free 25% customization)
    • Europe Rapid Test Kit Market by Technology
    • Europe Rapid Test Kit Market by Product Type
    • Europe Rapid Test Kit Market by Duration
    • Europe Rapid Test Kit Market by Type
    • Europe Rapid Test Kit Market by Application
    • UK Rapid Test Kit Market All-Up
    • Germany Rapid Test Kit Market All-Up
    • France Rapid Test Kit Market All-Up
    • Spain Rapid Test Kit Market All-Up
    • Rest of Europe Rapid Test Kit Market All-Up
  • Asia-Pacific Rapid Test Kit Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Rapid Test Kit Market by Technology
    • Asia-Pacific Rapid Test Kit Market by Product Type
    • Asia-Pacific Rapid Test Kit Market by Duration
    • Asia-Pacific Rapid Test Kit Market by Type
    • Asia-Pacific Rapid Test Kit Market by Application
    • India Rapid Test Kit Market All-Up
    • China Rapid Test Kit Market All-Up
    • Japan Rapid Test Kit Market All-Up
    • Rest of APAC Rapid Test Kit Market All-Up
  • RoW Rapid Test Kit Market (Option 4: As a part of the free 25% customization)
    • RoW Rapid Test Kit Market by Technology
    • RoW Rapid Test Kit Market by Product Type
    • RoW Rapid Test Kit Market by Duration
    • RoW Rapid Test Kit Market by Type
    • RoW Rapid Test Kit Market by Application
    • Brazil Rapid Test Kit Market All-Up
    • South Africa Rapid Test Kit Market All-Up
    • Saudi Arabia Rapid Test Kit Market All-Up
    • UAE Rapid Test Kit Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Rapid Test Kit Market All-Up

Global Rapid Test Kit Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ACON Laboratories, Inc.
  • Abbott Laboratories Inc
  • Alfa Scientific Designs Inc.
  • Artron Laboratories Inc.
  • Becton
  • Dickinson and Company
  • BTNX Inc.
  • Meridian Bioscience Inc.
  • Creative Diagnostics
  • Hoffmann-La Roche Ltd.