The global Rapid Diagnostics Market size was estimated at USD 35.8 billion in 2023 and is projected to reach USD 79.14 billion in 2030 at a CAGR of 12% during the forecast period 2024-2030.
Market players and government agencies have responded with substantial investments in research and development, leading to the rapid launch of innovative products tailored to meet the escalating global demand for broad-scale testing. These efforts have bolstered the market’s expansion, driven by the need for affordable and accurate diagnostic solutions.
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The point-of-care rapid diagnostics market encompasses a diverse range of testing tools, including glucose monitoring kits, pregnancy and fertility testing kits, infectious disease testing kits, urinalysis testing kits, haematological testing kits, and cardiometabolic monitoring kits, among others. These tools find application in hospitals, professional clinics, and private residences, supporting rapid and convenient diagnostic testing outside traditional laboratory settings.
Recent Developments
- In July 2023, EMPE Diagnostics launched the mfloDx MDR-TB rapid test kit.
- Abbott introduced Panbio HIV Self-Test, an OTC rapid test that offers results in 15-20 minutes. This HIV home test is available through e-commerce channels in Hong Kong.
Prominent Players
- Abbott Laboratories
- bioMérieux
- Danaher Corporation
- Thermo Fisher Scientific
- Siemens Healthineers
- Becton Dickinson
- Quidel Corporation
- Roche
- Quest Diagnostics
- Sysmex Corporation
- Qiagen
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North America to Dominate the Market
North America is expected to lead the market, driven by increasing chronic and infectious diseases, demand for point-of-care diagnostics, and adoption of portable rapid testing devices. For example, the CDC’s data on the 2021 flu season highlights significant healthcare burdens, reinforcing the region’s focus on disease management.
Europe and Asia Pacific are also poised for strong growth due to rising disease burdens, rapid testing device adoption, and government initiatives. In India, heightened consumer awareness has boosted diagnostic testing for infectious diseases, while in Europe, the ECDC’s efforts in disease mapping underscore proactive healthcare strategies.
The Rapid Diagnostics Market Segmentation:
Based on Product
- Consumables
- Instruments/Analysers
Based on Application
- Blood Glucose Testing
- Cardiometabolic Testing
- Infectious Disease Testing
- Blood Coagulation Testing
- Haematology Testing, Cancer Testing
- Drug of Abuse Testing
- Pregnancy and Fertility/Ovulation Testing
Based on End User
- Hospitals and Clinics
- Laboratories
- Individuals/Home Healthcare Settings
- Others
Based on region:
- Asia Pacific
- North America
- Europe
- South America
- Middle East & Africa
The Report helps to identify the opportunities in Global Regions:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
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Frequently Asked Questions
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