Rapid Diagnostics Market

Executive Summary

Rapid Diagnostics Market was valued at US $29.28 billion in 2021 and is projected to grow at 21.04% CAGR over the forecast period to reach US $92.07 billion by 2027. Rapid Diagnostics Market represented US $9.29 billion opportunity over 2019-2021 and estimated to create US $62.79 billion opportunity in 2027 over 2021.

Rapid Diagnostics from Consainsights analyses the Rapid Diagnostics Market in the Life Sciences industry over the forecast period to 2027.

Rapid Diagnostics research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Rapid Diagnostics segmentation includes Product, Application, Region and Geography.

Based on the Product, the Rapid Diagnostics analysis covers OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST, PROFESSIONAL RAPID DIAGNOSTICS TEST.

In Product segment, OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST segment has highest cagr growth of 18.50%.

Based on the Application, the Rapid Diagnostics analysis covers BLOOD GLUCOSE RAPID DIAGNOSTICS, INFECTIOUS DISEASES RAPID DIAGNOSTICS, CARDIOMETABOLIC RAPID DIAGNOSTICS, COAGULATION RAPID DIAGNOSTICS, PREGNANCY & FERTILITY RAPID DIAGNOSTICS, FECAL OCCULT BLOOD RAPID DIAGNOSTICS, TOXICOLOGY RAPID DIAGNOSTICS.

In Application segment, BLOOD GLUCOSE RAPID DIAGNOSTICS segment has highest cagr growth of 18.50%.

Based on the Region, the Rapid Diagnostics analysis covers EUROPE, ASIA-PACIFIC, LAMEA.

In Region segment, EUROPE segment has highest cagr growth of 18.50%.

Based on the region, the Rapid Diagnostics analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include ABAXIS, BECTON DICKINSON CO., BIO-RAD LABORATORIES, ACCRIVA DIAGNOSTICS, ACON LABORATORIES, INC., HOLOGIC, INC., ABBOTT LABORATORIES, ROCHE DIAGNOSTICS, BAYER HEALTHCARE PHARMACEUTICALS LLC, CEPHEID INC. and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Product

Introduction

In 2021, OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST segment has the highest revenue of US $17.54 billion and is expected to grow at CAGR of 18.50% by 2027 OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST segment has highest cagr growth of 18.50%.

OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST

OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST segment was valued at US $11.97 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $55.14 billion by 2027. OVER-THE-COUNTER (OTC) RAPID DIAGNOSTICS TEST segment represented US $5.57 billion opportunity over 2019-2021 and estimated to create US $37.60 billion opportunity in 2027 over 2021.

PROFESSIONAL RAPID DIAGNOSTICS TEST

PROFESSIONAL RAPID DIAGNOSTICS TEST segment was valued at US $8.02 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $36.93 billion by 2027. PROFESSIONAL RAPID DIAGNOSTICS TEST segment represented US $3.73 billion opportunity over 2019-2021 and estimated to create US $25.18 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, BLOOD GLUCOSE RAPID DIAGNOSTICS segment has the highest revenue of US $12.06 billion and is expected to grow at CAGR of 18.50% by 2027 BLOOD GLUCOSE RAPID DIAGNOSTICS segment has highest cagr growth of 18.50%.

BLOOD GLUCOSE RAPID DIAGNOSTICS

BLOOD GLUCOSE RAPID DIAGNOSTICS segment was valued at US $8.23 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $37.92 billion by 2027. BLOOD GLUCOSE RAPID DIAGNOSTICS segment represented US $3.83 billion opportunity over 2019-2021 and estimated to create US $25.86 billion opportunity in 2027 over 2021.

INFECTIOUS DISEASES RAPID DIAGNOSTICS

INFECTIOUS DISEASES RAPID DIAGNOSTICS segment was valued at US $4.91 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $22.64 billion by 2027. INFECTIOUS DISEASES RAPID DIAGNOSTICS segment represented US $2.29 billion opportunity over 2019-2021 and estimated to create US $15.44 billion opportunity in 2027 over 2021.

CARDIOMETABOLIC RAPID DIAGNOSTICS

CARDIOMETABOLIC RAPID DIAGNOSTICS segment was valued at US $3.00 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $13.84 billion by 2027. CARDIOMETABOLIC RAPID DIAGNOSTICS segment represented US $1.40 billion opportunity over 2019-2021 and estimated to create US $9.44 billion opportunity in 2027 over 2021.

COAGULATION RAPID DIAGNOSTICS

COAGULATION RAPID DIAGNOSTICS segment was valued at US $1.64 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $7.54 billion by 2027. COAGULATION RAPID DIAGNOSTICS segment represented US $0.76 billion opportunity over 2019-2021 and estimated to create US $5.14 billion opportunity in 2027 over 2021.

PREGNANCY & FERTILITY RAPID DIAGNOSTICS

PREGNANCY & FERTILITY RAPID DIAGNOSTICS segment was valued at US $0.88 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $4.07 billion by 2027. PREGNANCY & FERTILITY RAPID DIAGNOSTICS segment represented US $0.41 billion opportunity over 2019-2021 and estimated to create US $2.78 billion opportunity in 2027 over 2021.

FECAL OCCULT BLOOD RAPID DIAGNOSTICS

FECAL OCCULT BLOOD RAPID DIAGNOSTICS segment was valued at US $0.90 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $4.14 billion by 2027. FECAL OCCULT BLOOD RAPID DIAGNOSTICS segment represented US $0.42 billion opportunity over 2019-2021 and estimated to create US $2.82 billion opportunity in 2027 over 2021.

TOXICOLOGY RAPID DIAGNOSTICS

TOXICOLOGY RAPID DIAGNOSTICS segment was valued at US $0.42 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $1.92 billion by 2027. TOXICOLOGY RAPID DIAGNOSTICS segment represented US $0.19 billion opportunity over 2019-2021 and estimated to create US $1.31 billion opportunity in 2027 over 2021.

Region

Introduction

In 2021, EUROPE segment has the highest revenue of US $16.13 billion and is expected to grow at CAGR of 18.50% by 2027 EUROPE segment has highest cagr growth of 18.50%.

EUROPE

EUROPE segment was valued at US $11.01 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $50.73 billion by 2027. EUROPE segment represented US $5.12 billion opportunity over 2019-2021 and estimated to create US $34.60 billion opportunity in 2027 over 2021.

ASIA-PACIFIC

ASIA-PACIFIC segment was valued at US $5.32 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $24.52 billion by 2027. ASIA-PACIFIC segment represented US $2.48 billion opportunity over 2019-2021 and estimated to create US $16.72 billion opportunity in 2027 over 2021.

LAMEA

LAMEA segment was valued at US $3.65 billion in 2019 and is projected to grow at 18.50% CAGR over the forecast period to reach US $16.82 billion by 2027. LAMEA segment represented US $1.70 billion opportunity over 2019-2021 and estimated to create US $11.47 billion opportunity in 2027 over 2021.