Edit Content

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Rapid Tests Market to reach USD 2.30 billion by the end of 2029

Global Rapid Tests Market Size study & Forecast, by Product (Instruments, Consumables, Others), by Technology ( Molecular Diagnostics, Immunoassay and Others) by Application (Upper Respiratory Tract Infections, Antibiotic, Sepsis), by End Use (Hospitals & Clinics, Laboratories and At - Home Testing and Others) and Regional Analysis, 2022-2029

Product Code: HLSMD-77750034
Publish Date: 10-04-2023
Page: 200

Global Rapid Tests Market is valued approximately USD 1.19 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.60% over the forecast period 2022-2029. Rapid tests, commonly referred to as RDTs or rapid diagnostic tests, are simple to use procedures that offer prompt answers, typically in few minutes or less. Rapid tests are performed and give results at the point of treatment, unlike the majority of regular tests, which must be forwarded to a lab. The Rapid Tests market is expanding because of factors such as increasing adoption of Self – Testing & Point – Of – Care Products, and introduction Of CLIA Waived Test and growing Geriatric Population Base. However, the presence of ambiguous regulatory may halt market growth.

Diabetes is one of the world’s fastest-growing chronic diseases. Its prevalence has progressively increased during the last few decades. The primary factors propelling market expansion are the rising elderly population, increasing target disease burden, and increased usage of self-testing & point-of-care products. According to the World Health Organization, diabetes will afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. Furthermore, geriatric, and obese populations are predisposed to chronic diseases. According to the World Bank Group, the world old population was 727 million in 2020, and it is predicted to treble over the next three decades, reaching 1.5 billion in 2050. Additionally, the market is expanding as a result of the introduction of technologically advanced items. However, the main difficulty with quick diagnostics solutions is quality assurance, which is expected to limit market expansion.

The key regions considered for the Global Rapid Tests Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the emergence of technologically advanced products, high rates of infections with upper respiratory diseases and antibiotic resistance, and high healthcare costs Additionally, the usage of PoC & fast diagnostics for the diagnosis of numerous ailments in the region, as well as encouraging government initiatives, are supporting the market’s expansion. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
BD (Becton, Dickinson and Company)
bioMérieux SA
DiaSorin S.p.A.
Danaher Corporation
Thermo Fisher Scientific, Inc.
F. Hoffmann – La Roche Ltd
Meridian Bioscience, Inc.
Bio-rad Laboratories, Inc.

Recent Developments in the Market:
 In August 2022, Accelerate Diagnostics and BD collaborated commercially. Through this strategic strategy, BD would provide Accelerate Diagnostics’ quick diagnostics for antibiotic resistance and susceptibility over the world.
 In December 2022, Roche stated that the U.S. Food and Drug Administration had authorised the COVID-19 At-home Test for Emergency Use. The test involves a straightforward anterior nasal swab sample that may be easily obtained and self-tested by those age 14 and older. For children aged 2 to 13, an adult must administer the test.

Global Rapid Tests Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Technology, Application, , End Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
By Technology:
Molecular Diagnostics
By Application:
Upper Respiratory Tract Infections
By End Use:
Hospitals & Clinics
At – Home Testing

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Rapid Tests Market, by Region, 2019-2029 (USD Billion)
1.2.2. Rapid Tests Market, by Product, 2019-2029 (USD Billion)
1.2.3. Rapid Tests Market, by Technology, 2019-2029 (USD Billion)
1.2.4. Rapid Tests Market, by Application, 2019-2029 (USD Billion)
1.2.5. Rapid Tests Market, by End Use, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Rapid Tests Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Rapid Tests Market Dynamics
3.1. Rapid Tests Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing Adoption Of Self – Testing & Point – Of – Care Products, And Introduction Of CLIA Waived Tests Growing Geriatric Population Base
3.1.2. Market Challenges Presence Of Ambiguous Regulatory Reimbursement Framework For Primary Care Setting
3.1.3. Market Opportunities Introduction Of Advance Technology Enabled Products Growing Prevalence Of Target Diseases
Chapter 4. Global Rapid Tests Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Rapid Tests Market, by Product
6.1. Market Snapshot
6.2. Global Rapid Tests Market by Product, Performance – Potential Analysis
6.3. Global Rapid Tests Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. Rapid Tests Market, Sub Segment Analysis
6.4.1. Instruments
6.4.2. Consumables
6.4.3. Others
Chapter 7. Global Rapid Tests Market, by Technology
7.1. Market Snapshot
7.2. Global Rapid Tests Market by Technology, Performance – Potential Analysis
7.3. Global Rapid Tests Market Estimates & Forecasts by Technology 2019-2029 (USD Billion)
7.4. Rapid Tests Market, Sub Segment Analysis
7.4.1. Molecular Diagnostics
7.4.2. Immunoassay
7.4.3. Others
Chapter 8. Global Rapid Tests Market, by Application
8.1. Market Snapshot
8.2. Global Rapid Tests Market by Application, Performance – Potential Analysis
8.3. Global Rapid Tests Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Rapid Tests Market, Sub Segment Analysis
8.4.1. Upper Respiratory Tract Infections
8.4.2. Antibiotic
8.4.3. Sepsis
Chapter 9. Global Rapid Tests Market, by End Use
9.1. Market Snapshot
9.2. Global Rapid Tests Market by End Use, Performance – Potential Analysis
9.3. Global Rapid Tests Market Estimates & Forecasts by End Use 2019-2029 (USD Billion)
9.4. Rapid Tests Market, Sub Segment Analysis
9.4.1. Hospitals & Clinics
9.4.2. Laboratories
9.4.3. At – Home Testing
9.4.4. Others
Chapter 10. Global Rapid Tests Market, Regional Analysis
10.1. Rapid Tests Market, Regional Market Snapshot
10.2. North America Rapid Tests Market
10.2.1. U.S. Rapid Tests Market Product breakdown estimates & forecasts, 2019-2029 Technology breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 End Use breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Rapid Tests Market
10.3. Europe Rapid Tests Market Snapshot
10.3.1. U.K. Rapid Tests Market
10.3.2. Germany Rapid Tests Market
10.3.3. France Rapid Tests Market
10.3.4. Spain Rapid Tests Market
10.3.5. Italy Rapid Tests Market
10.3.6. Rest of Europe Rapid Tests Market
10.4. Asia-Pacific Rapid Tests Market Snapshot
10.4.1. China Rapid Tests Market
10.4.2. India Rapid Tests Market
10.4.3. Japan Rapid Tests Market
10.4.4. Australia Rapid Tests Market
10.4.5. South Korea Rapid Tests Market
10.4.6. Rest of Asia Pacific Rapid Tests Market
10.5. Latin America Rapid Tests Market Snapshot
10.5.1. Brazil Rapid Tests Market
10.5.2. Mexico Rapid Tests Market
10.5.3. Rest of Latin America Rapid Tests Market
10.6. Rest of The World Rapid Tests Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Abbott Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. BD (Becton, Dickinson and Company)
11.2.3. bioMérieux SA
11.2.4. DiaSorin S.p.A.
11.2.5. Danaher Corporation
11.2.6. Thermo Fisher Scientific, Inc.
11.2.7. F. Hoffmann – La Roche Ltd
11.2.8. Meridian Bioscience, Inc.
11.2.9. Bio-rad Laboratories, Inc.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now