openPR Logo
Press release

Rapid Tests Market Value to Show $39,103 Million by 2023 | Allied Market Research

03-22-2019 06:12 PM CET | Health & Medicine

Press release from: Allied Market Research

Rapid Tests Market

Rapid Tests Market

Rapid tests are preferably used in low-resource settings for conducting preliminary screening tests. Factors such as increase in awareness regarding early diagnosis of disease, prevalence of infectious diseases, and the need for low-cost diagnostic testing coupled with diagnosis accuracy are expected to boost the growth of the rapid tests market during the forecast period.

The Global Rapid Tests Market generated $21,455 million in 2016, and is projected to reach $39,103 million by 2023, growing at a CAGR of 8.9% from 2017 to 2023.

Growth in personalized care and increase in promotional activities by manufacturers encourage the use of rapid tests, thereby propelling the growth of the market. However, stringent government regulations for the approval of rapid tests and recall of several products due to false results are expected to impede the market growth.

Based on product, the professional rapid test products occupied the largest share in 2016, and is anticipated to continue its dominance during the forecast period, owing to increased demand for rapid tests in hospitals and mandated government policies for screening of diseases such as HIV, malaria, influenza, and others. However, the over-the-counter (OTC) rapid test product segment is expected to grow at the highest CAGR from 2017 to 2023.

Download Sample @ https://www.alliedmarketresearch.com/request-sample/4633?utm_source=OpenPR_sank

Based on application, the glucose monitoring segment occupied the largest share in 2016, and is anticipated to dominate the market during the forecast period, due to increase in prevalence of diabetes and growth in awareness of home care glucose rapid tests kits. On the other side, infectious disease segment is expected to exhibit the fastest market growth during the forecast period due to surge in prevalence of infectious disease and rise in demand for low cost & accurate rapid tests for preliminary infectious disease testing.

Based on end user, the home care segment occupied the largest share in 2016, and is anticipated to continue its dominance during the forecast period, due to increased demand for personalized care rapid tests and cost-efficient product availability. On the other side, the hospital & clinic segment is anticipated to exhibit the fastest market growth during the forecast period due to increase in demand for rapid tests.

North America accounted for more than two-fifths share of the global rapid tests market in 2016 and is expected to remain dominant throughout the forecast period. This was attributed to the extensive use of personalized care medical devices, well-developed healthcare infrastructure, and rise in health care awareness. On the other hand, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to awareness about health and rapid tests.

Key Findings of the Rapid Tests Market :

• Based on product, the over-the-counter (OTC) rapid test product segment is expected to show the fastest growth, from 2017 to 2023.
• Based on application, the glucose monitoring segment held approximately half of the global market share in 2016 and is expected to remain dominant throughout the forecast period.
• Based on application, the infectious disease segment exhibited double digit growth rate.
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 10.5% during the forecast period.

About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP,
provides business insights and market research reports to large as well as small &
medium enterprises. The company assists its clients to strategize business policies and
achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection
to investment advice. The analysts at Allied Market Research dig out factors that help
clients to understand the significance and impact of market dynamics. The company
amplies client’s insight on the factors, such as strategies, future estimations, growth
or fall forecasting, opportunity analysis, and consumer surveys among others. As
follows, the company offers consistent business intelligent support to aid the clients
to turn into prominent business firm.

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
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Rapid Tests Market Value to Show $39,103 Million by 2023 | Allied Market Research here

News-ID: 1667905 • Views:

More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices. Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529 What Are Urinary Drainage Bags? Urinary drainage bags are specialized medical devices designed to collect
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Billion by 2030; Growing at a CAGR of 17.2%
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario. Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of 5.6%
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031. Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in

All 5 Releases


More Releases for Rapid

UYEE Rapid Tooling Announces Expert CNC Machining and Rapid Prototyping Services
UYEE Rapid Tooling Co., Ltd, a trusted provider since 2005, announces its advanced capabilities in high-speed CNC machining, rapid prototyping, and low volume manufacturing solutions. UYEE Rapid Tooling Co., Ltd, a dedicated leader in manufacturing services since 2005, today highlighted its comprehensive suite of services designed to meet the demanding needs of modern product development and production. With a strong commitment to customer success, UYEE specializes in delivering high-speed CNC machining,
Rapid Infuser Market - Swift Restoration, Enhanced Recovery: Rapid Infuser Optim …
Newark, New Castle, USA: The "Rapid Infuser Market" provides a value chain analysis of revenue for the anticipated period from 2023 to 2031. The report will include a full and comprehensive analysis of the business operations of all market leaders in this industry, as well as their in-depth market research, historical market development, and information about their market competitors. Rapid Infuser Market: https://www.growthplusreports.com/report/rapid-infuser-market/8896 This latest report researches the industry structure, sales, revenue,
Rapid Infuser Market - From Emergency to Efficiency: Advancing Patient Outcomes …
Newark, New Castle, USA - new report, titled Rapid Infuser Market The report has been put together using primary and secondary research methodologies, which offer an accurate and precise understanding of the Rapid Infuser market. Analysts have used a top-down and bottom-up approach to evaluate the segments and provide a fair assessment of their impact on the global Rapid Infuser market. The report offers an overview of the market, which
Rapid Pregnancy Tests Market: Size & Trends Shows a Rapid Growth by 2027
The pregnancy test kit confirms pregnancy by detecting the level of human chorionic gonadotropin (HCG) in the urine. The growing demand for an easy and convenient way to get faster results, and the easy availability of pregnancy kits through various distribution channels, including pharmacies/pharmacies, online stores, etc., is increasing the demand for pregnancy test kits. (Get 15% Discount on Buying this Report) A full report of Global Rapid Pregnancy Tests Market is
Rapid Machining Launches New Service
Rapid Machining, one of the largest prototype machining manufacturers in the United States, is excited to announce a new standard 5 day lead time service for lathe parts. Responding to customer demand, Rapid Machining purchased new equipment and reconfigured the manufacturing floor to make this lead-time reduction possible from a standard 7 day lead time. The new service is currently available for lathe parts with a variety of materials and
RAPID: Lockheed Martin Approved
Nashua, NH – April 4, 2016 – RAPID was announced as an approved vendor for Lockheed Martin as of April 2016. RAPID has been working with Lockheed Martin divisions for a number of years, but the addition to the Approved Vendor list will strengthen and build upon the existing relationship. Lockheed Martin is an aerospace, defense, security, and advanced technology company that employs over 116,000 professionals worldwide. Lockheed Martin has