The Indian Ocean Region Countries Rapid Diagnostic Kits Industry is Expected to Reach $1.75 Billion by 2029: Growing Prevalence of Infectious Diseases Drives the Market

Rhea-AI Summary

The rapid diagnostics kits market for the Indian Ocean region is projected to reach $1.75 billion by 2029, growing at a CAGR of 1.6% from 2022. Key growth drivers include the rising prevalence of chronic and infectious diseases, increased demand for Point-of-Care (PoC) diagnostics, and the impact of the COVID-19 pandemic. However, the market faces challenges such as variance in test results and reluctance to change existing diagnostic practices. The report also highlights opportunities in emerging economies within the region, suggesting an untapped potential for growth.

Positive

• Projected market growth to $1.75 billion by 2029.
• CAGR of 1.6% anticipated from 2022.
• Increased demand for Point-of-Care diagnostics.
• Growth driven by chronic and infectious diseases.

Negative

• Variance in test results may hinder market growth.
• Reluctance to adopt new diagnostic practices poses a challenge.

DUBLIN, Feb. 1, 2023 /PRNewswire/ -- The "Rapid Diagnostic Kits Market for Indian Ocean Region Countries by Product, Platform, Application, End User - Forecast to 2029" report has been added to  ResearchAndMarkets.com's offering.

The rapid diagnostics kits market for Indian Ocean region countries is expected to grow at a CAGR of 1.6% from 2022 to 2029 to reach $1.75 billion by 2029.

Following thorough secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities.

The growing demand for PoC diagnostics, the high prevalence of chronic diseases coupled with the increasing geriatric population, the growing prevalence of infectious diseases, the increasing need for rapid decision-making, and the outbreak of the COVID-19 pandemic are the key factors driving growth in the market.

However, variance in test results is a restraining factor for the growth of this market. Additionally, the reluctance to change the existing diagnostic practices is a major challenge for market growth.

Market Dynamics

Drivers

• Rising Prevalence of Chronic Diseases Coupled with the Increasing Geriatric Population
• Growing Prevalence of Infectious Diseases
• Increasing Need for Rapid Decision-making & Growing Demand for Point-of-Care (POC) Diagnostics
• The Outbreak of the COVID-19 Pandemic

Restraints

• Variance in Test Results

Opportunities

• Untapped Potential in Emerging Economies of the Countries in the Indian Ocean Region

Challenges

• Reluctance toward Changing Existing Diagnostic Practices

Companies Mentioned

• Abbott Laboratories (U.S.)
• Becton
• Dickinson and Company (U.S.)
• Bio-Rad Laboratories Inc. (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• ACON Laboratories Inc. (U.S.)
• Danaher Corporation (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• bioMerieux S.A. (France)
• Alfa Scientific Designs Inc. (U.S.)
• BTNX Inc. (Canada)
• Meridian Bioscience Inc. (U.S.)
• Trinity Biotech plc (Ireland)

Scope of the Report

Rapid Diagnostics Kits Market for Indian Ocean Region Countries, by Product

• Professional Kits
• OTC Kits

Rapid Diagnostics Kits Market for Indian Ocean Region Countries, by Platform

• Immunoassays
• Molecular Detection
• Other Rapid Diagnostic Platforms

Rapid Diagnostics Kits Market for Indian Ocean Region Countries, by Application

• Infectious Diseases Testing
• Pregnancy And Fertility Testing
• Cardiac Metabolism Testing
• Cholesterol Testing
• Tumor/Cancer Markers Testing
• Blood Glucose Testing
• Urinalysis
• Hematology Testing
• Other Tests

Rapid Diagnostics Kits Market for Indian Ocean Region Countries, by End User

• Hospitals & Clinics
• Diagnostic Laboratories
• Home Care/Self-testing
• Other End Users

Rapid Diagnostics Kits Market for Indian Ocean Region Countries, by Geography

• France
• India
• Australia
• Indonesia
• Singapore
• Sri Lanka
• Madagascar
• Mauritius
• Reunion
• Mayotte
• Seychelles
• Comoros

For more information about this report visit https://www.researchandmarkets.com/r/l7uurz-diagnostic?w=5

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FAQ

What is the projected growth of the rapid diagnostics kits market for Indian Ocean Region countries?

The market is projected to reach $1.75 billion by 2029, growing at a CAGR of 1.6%.

What are the main drivers of growth in the rapid diagnostics kits market?

Key drivers include rising prevalence of chronic diseases, increasing demand for Point-of-Care diagnostics, and the impact of the COVID-19 pandemic.

What challenges does the rapid diagnostics kits market face?

The market faces challenges such as variance in test results and reluctance to change existing diagnostic practices.

Are there any opportunities for growth in the rapid diagnostics kits market?

Yes, there is untapped potential in emerging economies within the Indian Ocean region.

When was the market report for rapid diagnostics kits released?

The report was released on February 1, 2023.