The global infectious disease rapid diagnostic testing market size is expected to reach USD 51.01 Billion in 2030 and register a revenue CAGR of 7.0% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of infectious diseases and emergence of COVID-19 are some key factors driving market revenue growth. Prevalence of infectious diseases has been rising, in both developed and developing countries, and resulting in steady demand for infectious disease rapid diagnostic testing. Following the pandemic, the need to identify and monitor infectious diseases has been placed on significantly high importance and has driven major increase in demand for testing kits. Moreover, rising preference for preventive care is expected to increase need for infectious disease diagnostics over the forecast period. Large-scale population-based testing is necessary to strengthen COVID-19 preventive and control efforts and measures, which is expected to continue to drive increased demand for infectious disease diagnostic products in future.
Rise in number of cases of Severe Acute Respiratory Syndrome Coronavirus-19 (SARS-Cov-19) has led to increased demand for infectious disease rapid diagnostic testing products globally. Presently, majority of countries are focusing on flattening the curve of community transmissions of coronavirus, which is driving demand for diagnostics products. Another factor driving product demand is scale-up of manufacturing capabilities by market players to meet rising product demand in the current scenario, as well as to prepare for future situations.
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Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Abbott Laboratories, Danaher Corporation, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Corporation, BioMérieux SA, BD (Becton, Dickinson and Company), Siemens Healthineers AG, PerkinElmer Inc., Bio-Rad Laboratories, Inc., and Sysmex Corporation.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Infectious Disease Rapid Diagnostic Testing market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Further key findings from the report suggest
- Reagents & kits segment revenue is expected to register a steady growth rate during the forecast period due to rising demand for kits and reagents in research and clinical settings. Ongoing COVID-19 infections in some countries is also driving use of reagents and kits.
- Polymerize Chain Reaction (PCR) segment accounted for a significantly large revenue share in 2021 owing to increasing use of PCR in molecular diagnostics as well as use of Reverse Transcription–Polymerase Chain Reaction (RT-PCR) in the COVID-19 test. Automation of PCR equipment and introduction of advanced technologies such as qRT-PCR are expected to drive revenue growth of this segment.
- Market in Asia Pacific is expected to register a considerably rapid revenue growth rate in the global infectious disease rapid diagnostic testing market over the forecast period due to increasing research & development activities in the healthcare industry in China and Japan. Moreover, high prevalence of chronic diseases, coupled with government initiatives to support diagnosis of infectious diseases, are key factors driving revenue growth of the market in the region.
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Emergen Research has segmented the global infectious disease rapid diagnostic testing market on the basis of product & service, technology, disease, end-use, and region:
- Product & Service Outlook (Revenue, USD Billion; 2019–2030)
- Reagent & Kits
- Instruments
- Data Management Software
- Service
- Technology Outlook (Revenue, USD Billion; 2019–2030)
- Immunoassay
- Enzyme-linked Immunosorbent Assay (ELISA)
- Enzyme-linked Immunospot Assay (ELISpot)
- Polymerize Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Microarray
- Clinical Microbiology
- Other Technologies
- Immunoassay
- Disease Outlook (Revenue, USD Billion; 2019–2030)
- Hepatitis
- Influenza
- HIV/AIDS
- HPV
- CT/NG
- Tuberculosis
- HAIs
- Covid-19
- Others
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospital & Clinical Laboratories
- Diagnostic Center
- Academic & Research Institutions
- Others
The study segments the Infectious Disease Rapid Diagnostic Testing industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2022 – 2030 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Infectious Disease Rapid Diagnostic Testing market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Infectious Disease Rapid Diagnostic Testing market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Infectious Disease Rapid Diagnostic Testing market.
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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