Rapid Diagnostics Market Growth, Share, Global Trends 2032 | MDL
With a predicted value of $77,095.6 million by 2031, the global market for fast diagnostics is expected to experience extraordinary growth. From 2021 to 2031, the market is anticipated to develop at a consistent annual growth rate of 7.4%. The increasing need for point-of-care (POC) diagnostics, the prevalence of chronic diseases and the ageing population, the need for quick decisions in emergency rooms, increased awareness of early disease diagnosis, and new technological advancements are some of the major forces driving this growth.
The rising need for POC diagnostics is one of the main reasons propelling the fast Rapid Diagnostics Market expansion. Point-of-care testing enables healthcare practitioners to make prompt treatment decisions by enabling speedy and accurate diagnosis at the patient's bedside or in non-laboratory settings. POC diagnostics are especially important in emergency settings, where a prompt and accurate diagnosis can have a big impact on the course of treatment for the patient. Due to their simplicity, time-saving advantages, and capacity to provide real-time results, POC diagnostics are increasingly in demand, which is propelling the market's expansion.
Additionally, the market is growing as a result of the ageing population and the increased prevalence of chronic diseases. A significant worldwide health concern is chronic diseases like diabetes, cardiovascular disease, and infectious infections. These illnesses are more prevalent due to the ageing population's increased susceptibility to them. In the early detection and management of chronic diseases, rapid diagnostics are essential because they allow for prompt interventions and better patient outcomes. The demand for quick diagnostics is anticipated to increase, propelling market expansion, as the world's population continues to age and chronic diseases become more prominent.
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Additionally, the use of rapid diagnostics is being driven by the increased need for quick decision-making in emergency rooms and the growing awareness of early disease diagnosis. In an emergency, fast diagnosis is essential for effective treatment and patient management. Rapid diagnostic tests give medical practitioners the ability to act quickly and launch necessary therapies right once, enhancing patient care and results. Additionally, early disease identification and prevention are receiving increased attention since they enable prompt treatment, save healthcare costs, and enhance patient prognosis. Rapid diagnostic tests are in greater demand as a result of rising public and professional awareness of the value of early disease diagnosis, which is fueling market expansion.
The global rapid diagnostics market is anticipated to experience significant growth due to factors such as the rising demand for point-of-care diagnostics, the rising prevalence of chronic diseases combined with an ageing population, the growing need for emergency departments to make decisions quickly, increased awareness of early disease diagnosis, and emerging technological innovations. It is projected that market participants would take advantage of this opportunity by launching cutting-edge rapid diagnostic solutions, growing their product portfolios, and forming tactical alliances to meet the changing healthcare needs of people all over the world.
Highlighted with 83 tables and 97 figures, this 183-page report “Global Rapid Diagnostics Market 2021-2031 by Product (Consumables, Analyzers/Instruments), Prescription (Professional, OTC), Platform (Immunoassays, Molecular Detection, Others), Application, End User, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global Rapid Diagnostics market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global Rapid Diagnostics market in every aspect of the classification from perspectives of Product, Prescription, Platform, Application, End User, and Region.
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Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Consumables
- Analyzers/Instruments
Based on Prescription, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Professional Diagnostics
- OTC Based Testing
By Platform, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Immunoassays
o Lateral Flow Assays
o Serological Assays
o Other Immunoassays
- Molecular Detection
o Polymerase Chain Reaction (PCR)
o Other Molecular Detection Tests
- Other Platforms
View Report Scope and Latest Developments in the Market: https://www.marketwatch.com/press-release/rapid-diagnostics-market-growth-share-global-trends-2032-2023-06-04?mod=search_headline
By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Blood Glucose Testing
- Cardiometabolic Testing
- Infectious Disease Testing
o COVID-19 Testing
o Healthcare-associated Infections (HAI) Testing
o Hepatitis Testing
o Tropical Diseases Testing
o HIV Testing
o Influenza Testing
o Sexually Transmitted Diseases (STD) Testing
o Other Infectious Diseases Testing
- Blood Coagulation Testing
- Hematology Testing
- Cancer Testing
- Drug Abuse Testing
- Pregnancy & Fertility Testing
- Other Applications
By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Hospitals & Clinics
- Laboratories
- Individuals/Homecare
- Other End Users
Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (UAE，Saudi Arabia， South Africa and Rest of MEA)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product, Prescription and Application over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Abbott Diagnostics
ACON Laboratories
Becton Dickinson and Co.
BioMérieux S.A.
Bio-Rad Laboratories, Inc.
Chembio Diagnostic Systems
Danaher Corp.
- Hoffmann La Roche Ltd.
GlySens Inc.
Meridian Bioscience Inc.
OraSure Technologies Inc.
Siemens Healthineers AG
Thermo Fisher Scientific Inc.
Trinity Biotech Plc
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