Global rapid medical diagnosis refers to quick diagnostic tests (deliver results in less than two hours) performed without the use of automated diagnostic equipment. The growing prevalence of cardiovascular diseases, sexually transmitted diseases, diabetes, infectious diseases, hepatitis and gastrointestinal diseases is the most significant driver of the global rapid medical diagnostic kits market. In addition, this market is driven by factors such as growing patient awareness levels, constantly improving healthcare infrastructure, rising demand for home healthcare and rising prevalence of lifestyle induced disorders such as obesity.
The future of this market will be fuelled by the changing healthcare dynamics in emerging Asian, Latin American and African economies. Rapid medical diagnostic kits will rapidly gain acceptance in these regions owing to the fact that the cost effective nature of rapid medical diagnostic kits perfectly complements the cost sensitive nature of patients in the regions.
North America is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditures coupled with high patient awareness levels and the high prevalence of target diseases are some of the factors accounting for its large market share. However, the presence of a large base of patients with unmet medical needs in emerging economies such as India and China will help the Asia-Pacific rapid medical diagnostic kits market grow at the fastest rate during the forecast period (2013 to 2020).
The hospitals and clinics will generate the maximum amount of revenue for this market owing to the high usage rates of rapid medical diagnostic kits in this segment. However, rapidly rising demand for home healthcare will help this segment grow at a relatively faster rate from 2013 to 2020.
This research study encompasses a competitive landscape of the rapid medical diagnostic kits market. Revenue analysis, product benchmarking and strategic developments of key market players such as Roche Diagnostics, Abbott Laboratories, Siemens Healthcare, Global BioDiagnostics Corporation, Atlas Link Biotech Co. Ltd and others are also provided in this report.
This report, by Grand View Research, takes a closer look at the rapid medical diagnostic kits industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key application segments including hospitals and clinic, home healthcare and veterinary. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which has been driving and inhibiting the global rapid medical diagnostic kits market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.