๐๐ฅ๐จ๐๐๐ฅ ๐ซ๐๐ฉ๐ข๐ ๐ญ๐๐ฌ๐ญ ๐ค๐ข๐ญ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ฌ ๐๐ง๐ญ๐ข๐๐ข๐ฉ๐๐ญ๐๐ ๐ญ๐จ ๐ ๐ซ๐จ๐ฐ ๐๐ญ ๐๐๐๐ ๐จ๐ ๐.๐๐% ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐ ๐ญ๐จ ๐ซ๐๐๐๐ก ๐๐๐๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐๐๐. Global rapid test kit market is driven by the growing prevalence of various infectious and non-infectious diseases worldwide. Additionally, the sudden outbreak and spread of pandemic COVID-19 has led to an increase in demand for rapid test kits being used for the diagnosis of COVID-19. This in turn fueled the market growth in 2020. Additionally, growing diabetic population globally requiring monitoring of sugar levels in order to manage the disease is further expected to support the market growth during the forecast period.
Global rapid test kit market is segmented based on type, product type, technology, duration, application and end user. Based on product type, over the counter rapid test accounted for the leading share in the past as these tests cost effective alternatives to expensive laboratory testings.
Based on the region, Asia Pacific is expected to witness the fastest CAGR of 9.05% during the forecast period. This can be attributed to the large and growing geriatric population in the region, which is susceptible to different kinds of diseases, especially in countries like China, India, and Japan. Additionally, supportive government policies and healthcare schemes launched by them across different countries in the region is expected to support market growth. For instance, in October 2020, Japan’s Ministry of Health, Labour and Welfare approved the use of Quick Navi-Flu2, a rapid diagnostic kit for detecting influenza virus antigen in the country. This kit is being manufactured by two Japanese firms Denka Company Limited and Otsuka Pharmaceutical Co., Ltd.
Leading companies operating in the market include F. Hoffmann-La Roche AG, Abbott Laboratories, Ltd., Danaher Corporation, Becton, Dickinson and Company, PerkinElmer, Inc., Siemens Healthineers AG, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., OraSure Technologies, Inc., Biomerieux Inc., ACON Laboratories, Inc., Cellex, Inc., MyMD Pharmaceuticals Inc., Luminex Corporation, Eurofins Scientific SE.