Rapid Test Kits Market Global Industry Analysis, Size, Share, Future Growth, Trends and Forecast year 2030

The Rapid Test Kits Market was valued at US$ 17.72 billion in 2022 and is expected to reach US$ 26.63 billion by 2030. It is estimated to register a CAGR of 5.2% from 2022 to 2030.

Rapid tests are simple to use and provide quick results; they are often referred to as rapid diagnostic tests (RDTs). Rapid tests are performed at the point of care, in contrast to the majority of routine tests, which have to be submitted to a lab; moreover, they generate results at the point of care. These kits aid in the identification and monitoring of underlying illnesses in living things. Although rapid test kits serve the primary purpose of initial screening, they prove highly beneficial in situations with scanty resource availability. The prime application of rapid test kits is to diagnose infectious disorders such as COVID-19, HIV, malaria, strep throat, and flu.

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Analysis of the Top Market Players:

1. F. Hoffmann-La Roche Ltd
2. Becton Dickinson and Co
3. ARKRAY Inc
4. Sysmex Partec GmbH
5. Fujirebio Europe NV
6. bioMerieux SA
7. Cepheid
8. Meril Life Sciences Pvt Ltd
9. QIAGEN NV
10. OraSure Technologies Inc

In this report, the market has been segmented on the basis of:

Type
• Rapid Antigen Testing
• Rapid Antibody Testing

Product
• Over-The-Counter Rapid Testing Kit
• Professional Rapid Testing Kit

Technology
• Lateral Flow Assay
• Solid Phase
• Agglutination
• Immunospot Assay
• Cellular Component-Based

Application
• Blood Glucose Testing
• Infectious Disease Testing
• Pregnancy And Fertility
• Cardiometabolic Testing

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Operations of multiplex rapid antigen tests are based on multicolored nanoparticles and cross-reactive antibodies, and these test kits can be developed at low costs. Rapid multiplex diagnostic testing helps healthcare providers supervise their patients with greater effectiveness when various respiratory pathogens are circulating simultaneously in a host body. These tests can help avoid possible misdiagnosis due to overlapping clinical symptoms. By eliminating diagnostic uncertainty, they help healthcare providers make apt decisions about the commencement and discontinuation of antimicrobial therapies.

Unlike single specimen antigen test kits, multiplex rapid antigen test kits can detect many respiratory viruses from a single specimen without compromising the quality of results. On behalf of the UK-Rapid Test Consortium (UK-RTC), the UK Government has awarded a contract to Abingdon Health to procure the AbC-19 rapid antibody tests. The contract follows an independent evaluation of this rapid antibody test, commissioned by the UK Government. Therefore, innovations such as multiplex rapid antigen tests are expected to emerge as new rapid test kits market trends in the coming years.

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