Market Overview:
The global rapid diagnostics devices market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing incidence of infectious diseases, growing demand for point-of-care testing, and rising awareness about rapid diagnostics tests. Based on type, the global rapid diagnostics devices market is segmented into over-the-counter (OTC) rapid diagnostics test and professional Rapid Diagnostic Test (RDT). The OTC segment is expected to account for a larger share of the global market in 2018. This can be attributed to the growing demand for easy-to-use and affordable diagnostic tests. However, the professional RDT segment is projected to grow at a higher CAGR during the forecast period owing to its advantages such as accuracy and speed over OTC tests. Based on application, the global Rapid Diagnostic Devices Market is divided into blood glucose Rapid Diagnostic Tests (RDx), cardiometabolic RDx, pregnancy & fertility RDx, toxicology RDx and other applications including veterinary use & food safety testing etc.).
Product Definition:
A rapid diagnostics device is a medical device used to diagnose a patient's condition quickly. This type of device typically employs a simple test that can be performed in a short amount of time, allowing the physician to make an accurate diagnosis and begin treatment promptly. The importance of rapid diagnostics devices cannot be overstated; they can mean the difference between life and death for patients with serious illnesses.
Over-The-Counter (OTC) Rapid Diagnostics Test:
OTC rapid diagnostic tests are used for the diagnosis of infectious diseases, cardiovascular disorders, diabetes mellitus and other chronic conditions. These tests are non-invasive and easy to use which increases their preference among patients. Moreover, these tests reduce hospital stays as well as treatment costs. Thus increasing its adoption rate in developing countries like India and China where healthcare expenditure is on the rise due to an increase in population base with various health disorders.
Professional Rapid Diagnostics Test:
Professional rapid diagnostic tests are used in rapid diagnostic devices to diagnose the disease and determine the treatment. These tests are also known as laboratory tests or physician's office test. They help healthcare professionals to narrow down the list of possible diseases, which further helps in faster diagnosis and treatment process.
Application Insights:
The blood glucose rapid diagnostics segment dominated the global market in 2017. This is due to the increasing prevalence of diabetes and rising demand for self-monitoring devices that assist people with diabetes in monitoring their own blood glucose levels. Furthermore, growing awareness about these tests and an increase in spending on self-monitoring devices are expected to drive growth over the forecast period.
The cardiometabolic rapid diagnostics application segment is anticipated to witness lucrative growth during the forecast period owing to a rise in cardiovascular diseases (CVDs) globally, coupled with increasing investments by governments across various countries towards improving healthcare infrastructure and adoption of advanced diagnostic techniques for early diagnosis of CVDs. For instance, according to data published by WHO, there were 1 billion deaths worldwide due to CVDs including heart disease & stroke as well as cancer between 2015 and 2030; out of which 90% occurred through Cardiovascular Diseases (CVD) related deaths.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of key players, such as Abbott Laboratories; Beckman Coulter Inc.; DiaSorin Corporation; and Roche Diagnostics Corporation. These players are engaged in extensive R&D activities to develop advanced rapid diagnostic tests for various applications. In addition, these companies are involved in educational programs that enable healthcare professionals to perform better diagnostic tasks by teaching them about new technologies and their application areas. For instance, every year Roche Diagnostics Corporation organizes a conference call-for- clinicians that focuses on infectious disease testing with COVID-19 pandemic impact among patients hospitalized across U.S.
Asia Pacific is anticipated to grow at a lucrative rate over the forecast period owing to increasing demand from countries such as China.
Growth Factors:
- Increasing incidence of infectious diseases: The increasing incidence of infectious diseases is one of the major growth drivers for the rapid diagnostics devices market. Infectious diseases are caused by pathogenic microorganisms such as bacteria, viruses, and parasites. These microorganisms can cause a wide range of infections in humans, which can lead to serious health complications if not treated properly. The growing prevalence of infectious diseases across the globe is thus expected to drive demand for rapid diagnostics devices in the coming years.
- Rising demand for point-of-care testing: The rising demand for point-of-care testing is another key factor driving growth in the global rapid diagnostics devices market. Point-of-care testing allows healthcare professionals to obtain test results within minutes or hours instead of days or weeks, which helps them make timely and informed decisions about patient care. This has led to an increase in adoption rates of point-of-care tests among both hospitals and clinics worldwide, thereby propelling growth in the global rapid diagnostics devices market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Rapid Diagnostics Devices Market Research Report
By Type
Over-The-Counter (OTC) Rapid Diagnostics Test, Professional Rapid Diagnostics Test
By Application
Blood Glucose Rapid Diagnostics, Cardiometabolic Rapid Diagnostics, Pregnancy and Fertility Rapid Diagnostics, Toxicology Rapid Diagnostics, Other
By Companies
Abbott, Abbott Diagnostics, Beckman Coulter, Roche Diagnostics, Siemens Healthcare, BD, Bayer HealthCare, LifeScan, URIT, Trinity Biotech, Humor Diagnostica, ACON Laboratories, Helena Laboratories, Eiken, Accriva Diagnostics, Abaxis, Oasis Diagnostics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Rapid Diagnostics Devices Market Report Segments:
The global Rapid Diagnostics Devices market is segmented on the basis of:
Types
Over-The-Counter (OTC) Rapid Diagnostics Test, Professional Rapid Diagnostics Test
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Blood Glucose Rapid Diagnostics, Cardiometabolic Rapid Diagnostics, Pregnancy and Fertility Rapid Diagnostics, Toxicology Rapid Diagnostics, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abbott
- Abbott Diagnostics
- Beckman Coulter
- Roche Diagnostics
- Siemens Healthcare
- BD
- Bayer HealthCare
- LifeScan
- URIT
- Trinity Biotech
- Humor Diagnostica
- ACON Laboratories
- Helena Laboratories
- Eiken
- Accriva Diagnostics
- Abaxis
- Oasis Diagnostics
Highlights of The Rapid Diagnostics Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Over-The-Counter (OTC) Rapid Diagnostics Test
- Professional Rapid Diagnostics Test
- By Application:
- Blood Glucose Rapid Diagnostics
- Cardiometabolic Rapid Diagnostics
- Pregnancy and Fertility Rapid Diagnostics
- Toxicology Rapid Diagnostics
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Rapid Diagnostics Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Rapid Diagnostics Devices is a company that manufactures and sells diagnostic equipment. The company's products include medical devices used in the diagnosis of diseases, such as x-ray machines, CT scanners, and MRI machines.
Some of the key players operating in the rapid diagnostics devices market are Abbott, Abbott Diagnostics, Beckman Coulter, Roche Diagnostics, Siemens Healthcare, BD, Bayer HealthCare, LifeScan, URIT, Trinity Biotech, Humor Diagnostica, ACON Laboratories, Helena Laboratories, Eiken, Accriva Diagnostics, Abaxis, Oasis Diagnostics.
The rapid diagnostics devices market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rapid Diagnostics Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Rapid Diagnostics Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rapid Diagnostics Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Rapid Diagnostics Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Rapid Diagnostics Devices Market Size & Forecast, 2018-2028
4.5.1 Rapid Diagnostics Devices Market Size and Y-o-Y Growth
4.5.2 Rapid Diagnostics Devices Market Absolute $ Opportunity
Chapter 5 Global Rapid Diagnostics Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Rapid Diagnostics Devices Market Size Forecast by Type
5.2.1 Over-The-Counter (OTC) Rapid Diagnostics Test
5.2.2 Professional Rapid Diagnostics Test
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Rapid Diagnostics Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Rapid Diagnostics Devices Market Size Forecast by Applications
6.2.1 Blood Glucose Rapid Diagnostics
6.2.2 Cardiometabolic Rapid Diagnostics
6.2.3 Pregnancy and Fertility Rapid Diagnostics
6.2.4 Toxicology Rapid Diagnostics
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rapid Diagnostics Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Rapid Diagnostics Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Rapid Diagnostics Devices Analysis and Forecast
9.1 Introduction
9.2 North America Rapid Diagnostics Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Rapid Diagnostics Devices Market Size Forecast by Type
9.6.1 Over-The-Counter (OTC) Rapid Diagnostics Test
9.6.2 Professional Rapid Diagnostics Test
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Rapid Diagnostics Devices Market Size Forecast by Applications
9.10.1 Blood Glucose Rapid Diagnostics
9.10.2 Cardiometabolic Rapid Diagnostics
9.10.3 Pregnancy and Fertility Rapid Diagnostics
9.10.4 Toxicology Rapid Diagnostics
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Rapid Diagnostics Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Rapid Diagnostics Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Rapid Diagnostics Devices Market Size Forecast by Type
10.6.1 Over-The-Counter (OTC) Rapid Diagnostics Test
10.6.2 Professional Rapid Diagnostics Test
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Rapid Diagnostics Devices Market Size Forecast by Applications
10.10.1 Blood Glucose Rapid Diagnostics
10.10.2 Cardiometabolic Rapid Diagnostics
10.10.3 Pregnancy and Fertility Rapid Diagnostics
10.10.4 Toxicology Rapid Diagnostics
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Rapid Diagnostics Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Rapid Diagnostics Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Rapid Diagnostics Devices Market Size Forecast by Type
11.6.1 Over-The-Counter (OTC) Rapid Diagnostics Test
11.6.2 Professional Rapid Diagnostics Test
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Rapid Diagnostics Devices Market Size Forecast by Applications
11.10.1 Blood Glucose Rapid Diagnostics
11.10.2 Cardiometabolic Rapid Diagnostics
11.10.3 Pregnancy and Fertility Rapid Diagnostics
11.10.4 Toxicology Rapid Diagnostics
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Rapid Diagnostics Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Rapid Diagnostics Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Rapid Diagnostics Devices Market Size Forecast by Type
12.6.1 Over-The-Counter (OTC) Rapid Diagnostics Test
12.6.2 Professional Rapid Diagnostics Test
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Rapid Diagnostics Devices Market Size Forecast by Applications
12.10.1 Blood Glucose Rapid Diagnostics
12.10.2 Cardiometabolic Rapid Diagnostics
12.10.3 Pregnancy and Fertility Rapid Diagnostics
12.10.4 Toxicology Rapid Diagnostics
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Rapid Diagnostics Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Rapid Diagnostics Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Rapid Diagnostics Devices Market Size Forecast by Type
13.6.1 Over-The-Counter (OTC) Rapid Diagnostics Test
13.6.2 Professional Rapid Diagnostics Test
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Rapid Diagnostics Devices Market Size Forecast by Applications
13.10.1 Blood Glucose Rapid Diagnostics
13.10.2 Cardiometabolic Rapid Diagnostics
13.10.3 Pregnancy and Fertility Rapid Diagnostics
13.10.4 Toxicology Rapid Diagnostics
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Rapid Diagnostics Devices Market: Competitive Dashboard
14.2 Global Rapid Diagnostics Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abbott
14.3.2 Abbott Diagnostics
14.3.3 Beckman Coulter
14.3.4 Roche Diagnostics
14.3.5 Siemens Healthcare
14.3.6 BD
14.3.7 Bayer HealthCare
14.3.8 LifeScan
14.3.9 URIT
14.3.10 Trinity Biotech
14.3.11 Humor Diagnostica
14.3.12 ACON Laboratories
14.3.13 Helena Laboratories
14.3.14 Eiken
14.3.15 Accriva Diagnostics
14.3.16 Abaxis
14.3.17 Oasis Diagnostics
