What is Rapid TestsMarket?
The global market for rapid tests has been rising on account of the popularity of preliminary screening across medical facilities. Rapid tests refer to tests that can be used during emergencies at medical facilities or for home-care treatments. The most unique characteristic of this form of testing is the limited use of resources and the simplicity of execution. The stability of rapid tests at high temperatures coupled with the short span of execution for these tests has given an impetus to the growth of the global market.
Rapid Tests Market Report Coverage
Report Coverage | Details |
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Study Timeframe | 2018 to 2030 |
Base Year | 2023 |
Growth Drivers | - Increasing Popularity of Preliminary Screening across Medical Facilities
- High Incidence of Infectious Diseases
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Challenges & Pitfalls | - High Cost Associated With Technologies
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Opportunities
Increasing Diagnostic Tests across Various Domains within Healthcare and Rising Demand for Faster and Quantitative Assessment Results to Confirm Food Safety
Restraints
- Lack of Food Control Infrastructure & Resources in Developing Countries
- Complexity in Testing Techniques
The Players Covered in the Study are:
Akers Biosciences, Inc. (United States), Abbott Laboratories (United States), Becton, Dickinson and Company (United States), Bio-rad Laboratories, Inc. (United States), Cepheid, Inc. (United States), Hologic Inc. (United States), Meridian Bioscience, Inc. (United States), OraSure Technologies, Inc. (United States), Quidel Corporation (United States) and F. Hoffman La Roche, Ltd. (Switzerland)
Market Development Activities
In December 2020, Innova Medical Group, Inc. (IMG), the world's largest manufacturer of rapid antigen test kits, acquired California-based Biological Laboratory Inc. (BIOLAB), further strengthening IMG's in-house diagnostic testing and research and development capability in the U.S.
In April 2020, Affinity Health Partners announced the introduction of a point-of-care COVID-19 test to its production facilities and network partner’s facilities and is being offered in compliance with the Policy for Coronavirus (COVID-19) Disease Testing designed by the FDA.