New York, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rapid Test Kit Market By Type, By Product Type, By Technology, By Duration, By Application, By End Users, By Region, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06010438/?utm_source=GNW
Global rapid test kit market was valued at USD 23.44 Billion in 2020 and is expected to grow at a formidable rate of 8.14% during the forecast period. The global rapid test kit market is driven by the growing prevalence of various infectious diseases. Additionally, benefits associated with rapid test kits such as low cost, accuracy, early disease diagnosis, quick results, stability at high temperature, among others are further expected to propel the market growth through 2026. Moreover, sudden outbreak and spread of pandemic COVID-19 has drastically increased the demand for rapid test kits, thereby fueling the market growth during the forecast period. Many major biotechnology and pharmaceutical companies have developed their own rapid test kits, and many are still investing, researching and working on the development of better and advanced rapid test kits. This in turn is expected to create lucrative opportunities for the market growth over the next few years.
The global rapid test kit market is segmented based on type, product type, technology, duration, application, end-user, company and region.Based on product type, the market can be split into over-the-counter (OTC) rapid test kit and professional rapid test kit.
Among these, the professional rapid test kit segment is expected to dominate the market during the forecast period owing to their widespread use for preliminary screening purposes at hospitals & clinics.Based on application, the market can be fragmented into infectious disease, cardiology, oncology, pregnancy & fertility, toxicology, glucose monitoring, and others.
Here, the infectious disease segment is expected to hold a significant market share on account of rising number of infections across the globe. Furthermore, the glucose monitoring segment is expected to exhibit the highest growth on account of increasing diabetic cases.
Regionally, the global rapid test kit market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa.Among these regions, North America is expected to dominate in the overall rapid test kit market owing to the well-established healthcare infrastructure and presence of major pharmaceutical and biotechnology giants in the region.
However, Asia-Pacific is expected to witness robust growth in the market owing to presence of large pool of patients suffering from various life-threatening conditions in economies such as China and India.
Major players operating in the global rapid test kit market include F. Hoffmann-La Roche AG, Abbott Laboratories Ltd., Siemens Healthineers AG, OraSure Technologies, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Cepheid, Inc.), Eurofins Scientific SE, Luminex Corporation, PerkinElmer, Inc., Cellex, Inc., Thermo Fisher Scientific, Inc., Mesa Biotech, Inc., BioFire Diagnostics, Inc., Akers Biosciences, Inc. and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
• To analyze and estimate the market size of global rapid test kit market from 2016 to 2019.
• To estimate and forecast the market size of global rapid test kit market from 2020 to 2021 and growth rate until 2026.
• To classify and forecast global rapid test kit market based on type, product type, technology, duration, application, end users, company and regional distribution.
• To identify dominant region or segment in the global rapid test kit market.
• To identify drivers and challenges for global rapid test kit market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global rapid test kit market.
• To identify and analyze the profile of leading players operating in global rapid test kit market.
• To identify key sustainable strategies adopted by market players in global rapid test kit market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global rapid test kit market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Rapid test kit manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to rapid test kit
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global rapid test kit market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Rapid Test Kit Market, By Type:
o Rapid Antigen Test
o Rapid Antibody Test
• Global Rapid Test Kit Market, By Product Type:
o Over-the-counter (OTC) Rapid Test Kit
o Professional Rapid Test Kit
• Global Rapid Test Kit Market, By Technology:
o Lateral Flow Assays
o Immunospot Assay
o Agglutination
o Solid Phase
• Global Rapid Test Kit Market, By Duration:
o Less than 10 minutes
o Less than 30 minutes
o Less than 1 hour
o 1 hour-2 hour
o Others
• Global Rapid Test Kit Market, By Application:
o Infectious Disease
o Cardiology
o Oncology
o Pregnancy & Fertility
o Toxicology Glucose Monitoring
o Others
• Global Rapid Test Kit Market, By End Users:
o Hospitals & Clinics
o Diagnostic Centers
o Home Care
o Others
• Global Rapid Test Kit Market, By Region:
o North America
United States
Canada
Mexico
o Europe
Germany
France
United Kingdom
Italy
Spain
o Asia-Pacific
China
Japan
India
South Korea
Australia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global rapid test kit market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06010438/?utm_source=GNW
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January 25, 2021 at 06:01PM
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