Global Rapid Diagnostics Market Report 2023: Sector to Surpass $77 Billion by 2031 at a 7.4% CAGR

Rhea-AI Summary

The Global Rapid Diagnostics Market is projected to reach $77.1 billion by 2031, expanding at a 7.4% CAGR from 2021. Key growth drivers include increased demand for point-of-care diagnostics, rising chronic diseases, and a growing elderly population. The report provides a detailed analysis of market structure, growth drivers, and emerging trends across key product segments such as consumables and analyzers. It also outlines market opportunities across various applications including blood glucose and infectious disease testing. This comprehensive outlook covers regional insights and competitive landscape.

Positive

• Projected market growth to reach $77.1 billion by 2031.
• 7.4% annual growth rate indicates strong market demand.
• Increased focus on point-of-care and rapid diagnostics.

Negative

• None.

DUBLIN, Jan. 12, 2023 /PRNewswire/ -- The "Global Rapid Diagnostics Market 2021-2031 by Product, Prescription, Platform, Application, End User, and Region: Trend Forecast and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.

Global Rapid Diagnostics market will reach $ 77,095.6 million by 2031, growing by 7.4% annually over 2021-2031, driven by the growing demand for POC diagnostics, the rising prevalence of chronic diseases coupled with the increasing aging population, the growing necessity for rapid decision making in emergency departments, increase in awareness regarding early diagnosis of disease, and emerging technological innovations.

This 183-page report 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

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

• Lateral Flow Assays
• Serological Assays
• Other Immunoassays

Molecular Detection

• Polymerase Chain Reaction (PCR)
• Other Molecular Detection Tests
• Other Platforms

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
• COVID-19 Testing
• Healthcare-associated Infections (HAI) Testing
• Hepatitis Testing
• Tropical Diseases Testing
• HIV Testing
• Influenza Testing
• Sexually Transmitted Diseases (STD) Testing
• 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

Selected Key Players:

• Abbott Diagnostics
• ACON Laboratories
• Becton Dickinson and Co.
• BioMerieux S.A.
• Bio-Rad Laboratories, Inc.
• Chembio Diagnostic Systems
• Danaher Corp.
• F. Hoffmann La Roche Ltd.
• GlySens Inc.
• Meridian Bioscience Inc.
• OraSure Technologies Inc.
• Siemens Healthineers AG
• Thermo Fisher Scientific Inc.
• Trinity Biotech Plc

Key Topics Covered:

1 Introduction

2 Market Overview and Dynamics

3 Segmentation of Global Market by Product

4 Segmentation of Global Market by Prescription

5 Segmentation of Global Market by Platform

6 Segmentation of Global Market by Application

7 Segmentation of Global Market by End User

8 Segmentation of Global Market by Region

9 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/mitr02

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FAQ

What is the projected growth of the rapid diagnostics market?

The rapid diagnostics market is projected to reach $77.1 billion by 2031, growing at a 7.4% CAGR.

What factors are driving the growth of the rapid diagnostics market?

Key factors include rising demand for point-of-care diagnostics, increasing prevalence of chronic diseases, and a growing aging population.

What are the main product segments in the global rapid diagnostics market?

Main product segments include consumables and analyzers/instruments.

What applications are covered in the rapid diagnostics market report?

Applications include blood glucose testing, infectious disease testing, and COVID-19 testing, among others.

Which regions are analyzed in the rapid diagnostics market report?

The report investigates North America, Europe, APAC, South America, and MEA.

Who are the key players in the global rapid diagnostics market?

Key players include Abbott Diagnostics, Becton Dickinson, and Trinity Biotech.