Rapid test market is anticipated to grow at a CAGR of 8.2% during the forecast period (2024-2031). The rising awareness regarding early and reliable diagnosis of disease, prevalence of infectious diseases, introduction of technologically advanced products and need for low cost as well as accurate diagnostic testing. Additionally, rapid tests provide accurate results in a short time and these benefits have led to a surge in adoption of rapid tests in point-of-care testing, wherein results are obtained on the same day which is boosting the market growth.
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The global rapid test market is segmented by the product, technology, application, and end-users. Based on the product, the market is sub-segmented into laboratory rapid test and over-the-counter rapid test products. Based on the technology, the market is sub-segmented into immunoassay, chromatography, spectroscopy, and polymerase chain reaction. Based on the application, the market is sub-segmented into infectious disease, pregnancy test, glucose test and others. Further, based on end-users, the market is sub-segmented into hospitals and clinics, diagnostic laboratories, and home care. Among the product, the laboratory rapid test sub-segment is anticipated to hold a considerable share of the market. Rapid laboratory testing can be done at the site of care, which includes clinics, hospitals, and medical offices. They are perfect for bulk population testing because they are affordable and easy to use.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Rapid Test Market by Product
- Laboratory Rapid Test
- Over-the-Counter (OTC) Rapid Test
Global Rapid Test Market by Technology
- Powder Immunoassay
- Chromatography
- Spectroscopy
- Polymerase Chain Reaction (PCR)
Global Rapid Test Market by Application
- Infectious Disease
- Pregnancy Test
- Glucose Test
- Others (Cholesterol Test, Diabetes)
Global Rapid Test Market by End-Users
- Hospitals & Clinics
- Diagnostic Laboratories
- Home Care
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alfa Scientific Designs Inc.
- Artron Laboratories Inc
- BioMerieux
- BTNX Inc.
- Cenogenics Corporation
- Cepheid
- Danaher Corporation
- DiaSorin S.p.A
- Hoffmann-La Roche Ltd
- HemoCue America
- Hologic, Inc.
- Meridian Bioscience, Inc.
- NuLife
- OraSure Technologies, Inc.
- Siemens Healthcare GmbH
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rapid test market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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