According to FutureWise analysis the market for rapid diagnostics in 2023 is US$ 23.97 billion, and is expected to reach US$ 27.26 billion by 2031 at a CAGR of 1.6%.
Rapid diagnostic tests (RDTs) are mainly used in emergency medical screening and medical facilities that have limited resources. With RDTs, primary care providers are able to perform point-of-care testing quickly and easily. In conventional diagnostic tests, rapid diagnostics is used for rapid antibody tests, such as rapid HIV tests, rapid plasma regains, and rapid antigen tests, such as rapid influenza diagnostic tests and malaria antigen detection tests. Diagnoses, patient management, epidemiology, and screening are commonly performed using diagnostic tests. The major factors that are driving the growth of the market are an increase in the demand for rapid diagnostic tests in decentralized settings and increasing awareness about early diagnosis among consumers.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Rapid Diagnostics Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Rapid Diagnostics Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.