Owing to the advent of new diseases due to ever-evolving pathogens there is a crucial need for the detection of diseases and their early treatment. The new innovative technology has changed the infectious rapid disease testing market. Also, governments are taking initiatives such as launching mass awareness programs and increasing investments in the healthcare industry. Proliferation in the occurrence of diseases in developed as well as less developing countries, is further driving the need for rapid diagnostic testing. Moreover, the surging inclination of individuals towards point-of-care testing is also driving the infectious disease rapid testing market. There are several rapid diagnostic kits readily available for many chronic diseases, which diagnose the disease while it is asymptomatic. Global menace of COVID-19 is further expected to strengthen the investments in the market from the stakeholders such as Governments, Financial Institutions, Drugmakers, and Educational Institutes.
According to MarkNtel Advisors’ research report “Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020”, the global Infectious Diseases Rapid Diagnostic Testing market is anticipated to grow at a CAGR of less than 10% during 2020-25.
North America Pocketed the Highest Market Share
On account of escalating manufacturing companies of rapid diagnostic testing in the United States is focusing on the development in point-of-care testing laboratories-based diagnostics tests for infectious disease is fueling the demand for rapid diagnostic testing market or infectious disease. Asia-Pacific region also grabbed a prominent market share owing to the growing number of patient dealing with infectious diseases in countries such as China and India. Moreover, the presence of a large number of manufacturers of rapid diagnostic testing is also driving the growth of infectious disease rapid diagnostic testing market and is anticipated to grow during 2020-25.
Home Testing Segment Held Remained Dominant
The home testing kits segment is galvanizing at a rapid pace owing to the rising patient counts across the world. Moreover, these testing kits are easy to use and no skills are required. Thus, these homecare kits are used at homes for diagnosis of infectious disease. Moreover, these kits are easily available in the market and the adoption of such kits is mushrooming the overall demand for infectious disease rapid diagnostic testing market. Another factor for the growth of the homecare segment is avoiding the long queue in hospitals. This saves the patients' time and travel costs. Moreover, the veterinary segment is also surging as the rapid diagnostic kits are available for livestock diagnosis as revealed by the MarkNtel Advisors’ research report “Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020”.
According to MarkNtel Advisors’, Siemens Healthcare Diagnostics, Hologic, Thermo fisher Scientific, Abbott Diagnostics, Becton Dickinson & Co., Artonn Laboratories, ACON Laboratories, Zoetis Inc., McKesson Medical surgical, Alfa Scientific are few of the leading players in the Global Infectious Diseases Rapid Diagnostic Testing Market.
“Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for infectious disease rapid diagnostic testing providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Technology (Flow Through, Solid Phase, Lateral Flow, Agglutination Assays),
2. By Type (HIV, Hepatitis, Influenza, Malaria, HPV, Respiratory, Mycobacteria, Parasitology, Others),
3. By End-User (Hospitals and Clinical Testing, Home Testing, Veterinary Testing),
4. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia),
5. By Company (Siemens Healthcare Diagnostics, Hologic, Thermo fisher Scientific, Abbott Diagnostics, Becton Dickinson & Co., Artonn Laboratories, ACON Laboratories, Zoetis Inc., McKesson Medical surgical, Alfa Scientific)
Key questions answered in the study:
1. What are the current and future trends of the infectious disease rapid diagnostic testing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the infectious disease rapid diagnostic testing industry?
5. What are the customer orientation, purchase behavior, and expectations from the infectious disease rapid diagnostic testing firms across various regions?