Rapid Test Market Big Growth in 2020|Bureau Veritas, SGS SA, Intertek Group plc, Eurofins Scientific, TÜV SÜD, ALS Limited, others

Rapid Test Market: Inclusive Insight

Global rapid test market is expected to grow at a substantial CAGR of 8.8% in the forecast period of 2019-2026.

The Rapid Test Market report provides estimations about the growth rate and the market value based on market dynamics and growth inducing factors. While preparing this Global Rapid Test market analysis report, few of the attributes that have been adopted include highest level of spirit, practical solutions, committed research and analysis, innovation, integrated approaches, and most up-to-date technology.

The well-established Key players in the market are: Bureau Veritas, SGS SA, Intertek Group plc, Eurofins Scientific, TÜV SÜD, ALS Limited, Mérieux NutriSciences Corporation, AsureQuality Limited, Microbac Laboratories, Inc., Genetic ID, Romer Labs Division Holding GmbH, OMIC USA Inc, Akers Biosciences, Inc., Abbott, BD, Bio-Rad Laboratories, Inc., Danaher, Hologic, Inc., Meridian Bioscience, OraSure Technologies, Inc., Quidel Corporation and F. Hoffmann-La Roche Ltd among others.

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What ideas and concepts are covered in the report?

- The assessments accounted by all the zones and the market share registered by each region is mentioned in the report.

- The study sums up the product consumption growth rate in the applicable regions along with their consumption market share.

- Data regarding the Rapid Test Industry market consumption rate of all the provinces, based on applicable regions and the product types is inculcated in the report.

Region-based analysis of the Rapid Test Industry market:

- The Rapid Test Industry market, with regards to provincial scope is segmented into USA, Europe, Japan, China, India, and South East Asia. The report also includes information regarding the products use throughout the topographies.

Unique structure of the report

Rapid Test Market Trends | Industry Segment by Product (Over-the-Counter [OTC] Rapid Test Product, Professional Rapid Test Product), Contaminant (Pathogens, Meat Speciation, GMOS, Allergens, Pesticides, Mycotoxins, Heavy Metals, Others), Technology (PCR-Based, Immunoassay-Based, Chromatography-Based, Spectroscopy-Based), Food Tested (Meat & Seafood Products, Dairy Products, Processed Food, Fruits & Vegetables, Cereals & Grains, Nuts, Seeds and Spices,  Crops, Others), Application (Infectious Disease, Cardiology, Oncology, Pregnancy & Fertility, Toxicology, Glucose Monitoring, Others), End User (Hospital & Clinic, Diagnostic Laboratory, Home Care and Others), Geography   (North America, South America, Europe, Asia-Pacific AND Middle East and Africa) - Industry Trends and Forecast to 2026

Market Definition: Global Rapid Test Market

The rapid test is preliminary screening test which are easy to use and having high quality. These tests are used for point-of-care (POC) which provides specific, sensitive and faster results within 10 minutes to 2 hours. It is used to test malaria and other infections such as AIDS, Influenza, HPV and Hepatitis infection.

According to the survey conducted by World Health Organizations (WHO) for the world malaria report 2018, it stated that the total sale in2017 was about 276 million. Almost 66% rapid tests were provided to sub-Saharan Africa. It is observed that the use of malaria test was increased from 40% to 75% in sub-Saharan Africa. These rapid tests have certain importance as epidemiological tools, additionally to use as diagnostics. These are used for lymphatic filariasis. Rapid tests are not used for diseases that are generally diagnosed from syndrome, but can prevent over-dose of antibiotics.

Market Drivers

Rising product recalls due to stringent regulations in developed countries is propelling the market in the forecast period
Increasing incidences of foodborne illness act as a driving force for the market
Globalization of food business will enhance the growth of the market
Increasing consumer awareness for food safety is also driving the market growth

Market Restraints

Lack of food control infrastructure will hamper the growth of the market
Complexity in testing techniques is hindering the market growth
Inadequate reimbursement policies for rapid test diagnostics will act as restraint for the market
High cost of testing equipment is also hampering the market in the forecast period

Key Developments in the Market:

In January 2019, OraSure Technologies, Inc. had acquired CoreBiome and Novosanis. This will help to improve the molecular business of a company as well as growth of the company for longer period. This acquisition meets the microbiome research need in the futuristic period and help to achieve more business segmental growth and leadership position

 In January 2019, Bio-Rad Laboratories, Inc. had introduced qUAntify advance control to use in the clinical labs performing urinalysis testing. This will help the lab experts as well as clinicians for the convenient storage of the product after opening. This enhances the product portfolio as well as profit margin of the company

Competitive Analysis:

Global rapid test market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rapid test market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Some of the Major Highlights of TOC covers:

Rapid Test Industry Regional Market Analysis

- Rapid Test Industry Production by Regions

- Global Rapid Test Industry Production by Regions

- Global Rapid Test Industry Revenue by Regions

- Rapid Test Industry Consumption by Regions

Rapid Test Industry Segment Market Analysis (by Type)

- Global Rapid Test Industry Production by Type

- Global Rapid Test Industry Revenue by Type

- Rapid Test Industry Price by Type

Rapid Test Industry Segment Market Analysis (by Application)

- Global Rapid Test Industry Consumption by Application

- Global Rapid Test Industry Consumption Market Share by Application (2014-2019)

Rapid Test Industry Major Manufacturers Analysis

- Rapid Test Industry Production Sites and Area Served

- Product Introduction, Application and Specification

- Rapid Test Industry Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)

- Main Business and Markets Served

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At the Last, Rapid Test industry report focuses on data sources, viz. primary and secondary sources, market breakdown and data triangulation, market size estimation, research programs, and design, research approach and methodology, and the publisher's disclaimer.

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