The rapid medical diagnostic kits market is forecast to expand at a CAGR of 4% from 2021 to 2031, expected to reach US$ 23.1 Bn. According to Fact.MR, blood glucose testing is anticipated to generate new growth frontiers, growing 2x across the forecast period. As of 2021, the overall market is anticipated to reach US$ 15.6 Bn.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and a far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Rapid Medical Diagnostic Kits Market both at worldwide and provincial levels.
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Key Points Addressed in Rapid Medical Diagnostic Kits Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Rapid Medical Diagnostic Kits and How to Navigate
Manufacturers benefit from strategic collaborations by increasing production and meeting consumer demand. Notable developments concerning deployment of rapid medical diagnostic kits are as follows:
- On January 26th, 2021, Innova Medical Group, Inc., announced the production of INNOVA SARS-CoV-2 Antigen Rapid Qualitative Test Kit for the U.S market, designed to provide 5 million test kit production per day by the end of the month and also expanding to 50 million rapid test kits per day in its expanded Orange County facility
- Likewise, in June 2021, Hoffmann-La Roche obtained the CE mark for its SARS-CoV-2 Antigen Self Nasal testing kit across home settings. After this development, the company hopes to extend its outreach across various countries through pharmacies and other distribution channels, in packs of five
Key Companies Profiled
- ACON Laboratories Inc.
- Abbott Laboratories
- Artron Laboratories Inc.
- Alfa Scientific Designs, Inc.
- Becton, Dickinson, and Company
- BTNX, Inc.
- bioMérieux SA
- Cardinal Health
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Creative Diagnostics
- Meridian Bioscience, Inc.
- F. Hoffmann-La Roche AG
Key Segments Covered
- Rapid Medical Diagnostic Kits for Cholesterol Monitoring
- Rapid Medical Diagnostic Kits for Infectious Diseases Testing
- Rapid Medical Diagnostic Kits for Hospitals & Clinics
- Rapid Medical Diagnostic Kits for Homecare Settings
- Rapid Medical Diagnostic Kits for Veterinary Settings
- Rapid Medical Diagnostic Kits for Fertility & Pregnancy Testing
- Rapid Medical Diagnostic Kits for Blood Glucose Testing
- Rapid Medical Diagnostic Kits for Other Tests
- Rapid Medical Diagnostic Kits for Substance Abuse Testing
What is Stimulating Demand for Rapid Medical Diagnostic Kits for Homecare Settings?
Although rapid home-based COVID-19 tests have lower sensitivity, its results may increase the likelihood of reducing the spread of disease. Furthermore, inadequate access to proper healthcare facilities, especially in remote areas, has emphasized need for these medical diagnostic kits.
Kits for home testing can save money and provide a secure and private procedure for assessing vital signs, while others can alert patients to potential health hazards. Hence, Fact.MR expects demand for this segment to account for 30% demand in forthcoming years.