Global Rapid Test Market, By Product (Over-the-Counter [OTC] Rapid Test Product and Professional Rapid Test Product), Contaminant (Pathogens, Meat Speciation, GMOS, Allergens, Pesticides, Mycotoxins, Heavy Metals and Others), Technology (PCR-Based, Immunoassay-Based, Chromatography-Based and Spectroscopy-Based), Food Tested (Meat and Seafood Products, Dairy Products, Processed Food, Fruits and Vegetables, Cereals and Grains, Nuts, Seeds and Spices, Crops and Others), Application (Infectious Disease, Cardiology, Oncology, Pregnancy and Fertility, Toxicology, Glucose Monitoring and Others), End User (Hospital and Clinic, Diagnostic Laboratory, Home Care and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the global rapid test market will project a CAGR of 8.39% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, surge in the requirement for a rapid test results to improve productivity, rising consumer consciousness towards food products with high nutritional value and growing personal disposable income by the major companies are the major factors attributable to the growth of rapid test market.
Rapid tests are the tests that are used in case of emergencies. It is easy to use and is considered to be used in preliminary screening tests. Rapid tests are being increasingly used by a wide range of industries. In the food industry the rapid tests are used to ensure compliance with the food safety standards.
Rising personal disposable income, rising incidents of food poisoning globally and growing standard of living especially in the developing economies are the major factors fostering the growth of the market. Changing lifestyle, modernization, rising product recalls owing to stringent regulations in developed countries and ever-rising global population are other important factors acting as market growth determinants. Improving food distribution channel, globalization of food business and surge in the expenditure for research and development proficiencies will further induce growth in the market value. Also, surging consumer awareness in regards to food safety will further carve the way for the growth of the market.
However, operational complexities in testing will pose a major challenge to the growth of the market. High capital investments and low cost-benefit ratio will also derail the market growth rate. Lack of food control infrastructure and unfavourable reimbursement policies for rapid test diagnostics are some other growth hampering factors.
This rapid test market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on rapid test market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Rapid Test Market Scope and Market Size
The rapid test market is segmented on the basis of product, contaminant, technology, food tested, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the global rapid test market is segmented into over-the-counter [OTC] rapid test product and professional rapid test product.
- On the basis of contaminant, the rapid test market is segmented into Pathogens, meat speciation, GMOS, allergens, pesticides, mycotoxins, heavy metals and others.
- On the basis of technology, the global rapid test market is segmented into PCR-based, immunoassay-based, chromatography-based and spectroscopy-based. Chromatography-based segment is sub-segmented into LC-MS, GC-MS and LC-MS/MS.
- On the basis of food tested, the global rapid test market is segmented into meat and seafood products, dairy products, processed food, fruits and vegetables, cereals and grains, nuts, seeds and spices, crops and others.
- On the basis of application, the global rapid test market is segmented into infectious disease, cardiology, oncology, pregnancy and fertility, toxicology, glucose monitoring and others. Infectious disease segment is sub-segmented into HPV rapid tests, hepatitis rapid tests, influenza rapid tests, malaria rapid tests, HIV rapid tests and other infectious disease rapid tests.
- On the basis of end user, the global food extrusion market is segmented into hospital and clinic, diagnostic laboratory, home care and others.
Rapid Test Market Country Level Analysis
The rapid test market is analyses and market size, volume information is provided by country, product, contaminant, technology, food tested, application and end user as referenced above.
The countries covered in the rapid test market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the rapid test market and will continue to flourish its trend of dominance during to forecast period. This is because of a well-established food and beverages industry in this region, stringent regulations imposed by the government in food safety standards and rising incidents of contaminations in packaged food. Asia-Pacific region will project the highest CAGR for the forecast period owing to the stringent regulations imposed by the government on complying with the food safety standards, growth and expansion of food and beverages beverage industry, high incidences of infectious diseases in India, globalization, westernization, changing lifestyle, and increasing personal disposable income.
The country section of the rapid test market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Rapid Test Market Share Analysis
The rapid test market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to rapid test market.
The major players covered in the rapid test market report are Abbott, BD, Bio-Rad Laboratories, Inc., Danaher, Hologic, Inc., Meridian Bioscience, Inc., OraSure Technologies, Inc., Quidel Corporation., F. Hoffmann-La Roche Ltd, Eurofins Scientific, Bureau Veritas, Intertek Group plc, TÜV SÜD, NSF International., SGS SA, Mérieux NutriSciencesm, InstantLabs, Romer Labs Division Holding GmbH, Promega Corporation, QIAGEN, NEOGEN Corporation and ALS Limited among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.