Rapid Tests Market to Reach $97.60 Billion, Globally, by 2030 at 11.3% CAGR: Allied Market Research

PORTLAND, Ore., March 1, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Rapid Tests Market by Product (Over-the-counter Rapid Test, Professional Rapid Test, and Others), Application (Infectious Disease, Cardiology, Oncology, Pregnancy, Infertility, Toxicology, Glucose Monitoring, and Others), and End User (Hospitals & Clinics, Home Care, Diagnostic Center, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global rapid tests industry was estimated at $33.32 billion in 2020, and is anticipated to hit $97.60 billion by 2030, registering a CAGR of 11.3% from 2021 to 2030.

Download Sample Report- https://www.alliedmarketresearch.com/request-sample/4633 

Drivers, restraints, and opportunities-

Rise in awareness regarding early diagnosis of disease, prevalence of infectious diseases, and need for low cost as well as accurate diagnostic testing drive the growth of the global rapid tests market. On the other hand, stringent government regulations for the approval of rapid tests restrain the growth to some extent. However, growth in personalized care and increase in promotional activities by manufacturers are projected to create lucrative opportunities in the industry.

Impact of Covid-19 on Rapid Tests Market-

• The outbreak of the pandemic gave way to a steep incline in the number of rapid tests done among individuals, rapid tests are highly useful in detection of the corona virus. This, in turn, impacted the global rapid tests market positively, especially during the initial phase.
• This trend is most likely to continue till the pandemic is completely over.

Get detailed COVID-19 impact analysis on the Rapid Tests Market- https://www.alliedmarketresearch.com/request-for-customization/4633?reqfor=covid

The glucose monitoring segment to maintain the lion's share-

On the basis of type, the glucose monitoring segment accounted for the highest market share in 2020, generating more than two-fifths of the global rapid tests market. The infectious disease segment, on the other hand, is anticipated to cite the fastest CAGR of 12.8% from 2021 to 2030, due to rise in incidence of diabetes. Upsurge in preliminary screening procedures in hospitals and increase in adoption of rapid tests in the developing regions of Asia and Africa boost the growth of the segment.

The home care segment to lead the trail-

On the basis of end-user, the home care segment generated the highest share in 2020, holding nearly two-fifths of the global rapid tests market. Increase in disposable incomes and growth in awareness about advance rapid tests drive the segment growth. The hospitals and clinics segment, however, is expected to cite the fastest CAGR of 11.8% from 2021 to 2030. This is attributed to rise in number of hospitals in both the developed as well as developing countries and increase in number of hospital visits for the diagnosis of the diseases.

For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/4633

North America to dominate by 2030-

On the basis of region, North America contributed to the major market share in terms of revenue in 2020, holding nearly two-fifths of the global rapid tests market, owing to increase in demand for rapid tests and availability of advanced healthcare facilities with trained medical professionals. Asia-Pacific, simultaneously, is projected to cite the fastest CAGR of 12.8% from 2021 to 2030. This is due to surge in incidence of various diseases and rise in R&D investments in the developing countries such as India and China.

Prominent market players-

• Akers Biosciences
• Becton
• Dickinson and Company
• Danaher Corporation (Cepheid, Inc.)
• F. Hoffmann-La Roche AG (Roche Diagnostics)
• Bio-Rad Laboratories, Inc.
• Abbott Laboratories (Alere Inc.)
• Meridian Bioscience
• OraSure Technologies
• OraSure Technologies
• Hologic

Official Press Release- https://www.alliedmarketresearch.com/press-release/rapid-tests-market.html

Similar Research Reports for Information, Communication and Technology:

Biopharmaceuticals Market- Global Opportunity Analysis and Industry Forecast, 2021–2030

Culture Media Market- Global Opportunity Analysis and Industry Forecast, 2021–2030

Acne Medication Market- Global Opportunity Analysis and Industry Forecast, 2021–2030

Home Medical Equipment Market- Global Opportunity Analysis and Industry Forecast, 2021–2030

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]  
Web: https://www.alliedmarketresearch.com   
Follow Us on: LinkedIn Twitter

SOURCE Allied Market Research