The global rapid medical diagnostic kits market accounted for USD 23.60 billion in 2023 and is expected to reach at USD 61.14 billion by 2034 with a CAGR of 9.04% during the forecast period 2024-2034. Rising awareness of the importance of point-of-care diagnostics, increasing demand for rapid medical diagnosis of chronic & infectious diseases, surge in prevalence of infectious diseases, uptick in the introduction of portable rapid testing devices, growing technological advancements, and surge in collaborations among market players to introduce innovative rapid medical diagnostic tests are some of the key factors boosting the market growth.
Surge in collaborations among market players to introduce innovative rapid medical diagnostic tests is predicted to boost the market growth during the forecast period. Rapid diagnostic test (RDT) kits are rapid and simple medical diagnostic tests that yield results within minutes, making them ideal for initial or urgent medical screening. RDTs are especially valuable in medical facilities with limited resources, where access to laboratory facilities and specialized equipment may be limited. For instance, in March 2022, Together, the non-profit research organization Brain Chemistry Labs and the Utah-based medical test kit maker Arlington Scientific have developed an easy-to-use rapid test kit. This kit is designed to identify the presence of β-methylamino-L-Alanine (BMAA), a toxin found in cyanobacterial blooms that is responsible for causing Amyotrophic Lateral Sclerosis (ALS), a fatal paralytic disease.
By product, over-the-counter (OTC) kits was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the affordability & simplicity of over-the-counter (OTC) diagnostic products, suitable for use in near-patient settings, are increasing, rising incidence of infectious diseases, cardiovascular issues, diabetes, & other conditions, growing preference for these products in home care setups, reflecting a trend towards self-care, and heightened awareness regarding the importance of early disease detection. Additionally, professional kits is predicted to grow at the fastest CAGR during the forecast period owing to the enhanced accuracy & precision of these diagnostic tools make them increasingly appropriate for diagnosing & tracking a range of medical conditions, growing focus on early disease detection & personalized medicine, and surge in introduction of new tests. For instance, in October 2022, Roche, a pharmaceutical company, has introduced rapid antigen tests for self-testing and professional use in countries where the CE Mark is accepted.
By technology, lateral flow technology was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the rise in strategic actions taken by market participants. Lateral flow assays are widely utilized in hospitals, clinics, and diagnostic labs for both qualitative and quantitative detection of particular antigens, gene amplification products, and antibodies. They are cost-effective and user-friendly, delivering precise results in just minutes. Additionally, solid phase is predicted to grow at the fastest CAGR during the forecast period owing to the convenience of operation, swift turnaround of test outcomes, minimal sample needs, & capability to test multiple parameters simultaneously within one assay and increasing trend of collaboration among industry frontrunners. For instance, in August 2023, CrisprBits, a biotechnology startup, has revealed a strategic partnership with MolBio Diagnostics to introduce point-of-care tests utilizing CRISPR technology.
By application, blood glucose testing was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the widespread utilization of these tests & a variety of rapid blood glucose tests are readily accessible, increasing adoption for immediate assessment of high blood cholesterol levels, rising number of diabetic patients, growing demand for self-monitoring devices for glucose levels. Additionally, infectious disease testing is predicted to grow at the fastest CAGR during the forecast period owing to the increasing occurrence of infectious diseases, rising demand in clinical settings for swift diagnosis, and growing number of new tests being introduced to address these needs. For instance, in February 2023, Mylab has introduced rapid tests for sexually transmitted diseases (STIs) such as Syphilis, hepatitis C virus (HCV), and human immunodeficiency virus (HIV). These rapid tests are designed to detect antibodies against HIV 1 and 2, HCV, and Treponema Pallidum (TP) for the diagnosis of HIV, HCV, and Syphilis.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 as they act as the main healthcare facility for diagnosing & treating various diseases, growing demand for hospitals offering advanced diagnostic services, the utilization of these kits is increasing across a broad spectrum of medical conditions, such as infectious diseases, cardiac markers, & pregnancy testing, rising focus on point-of-care testing, and increase in collaborations among market players. For instance, in June 2022, Kingston Hospital NHS Foundation Trust partnered with the Royal Marsden Partners to establish the Rapid Diagnostic Cancer Clinic (RDCC) in the United Kingdom, providing expedited diagnostic services to facilitate timely cancer detection across the country. Additionally, home care is predicted to grow at the fastest CAGR during the forecast period owing to the convenience & ease of access enable individuals to manage their health conditions without requiring frequent visits to healthcare facilities, rising trend towards self-monitoring and home-based healthcare, growing aging population, and increasing prevalence of chronic diseases.
North America region is anticipated for the highest revenue share during the forecast period owing to the heightened emphasis on developing innovative rapid diagnostic tests, surge in the introduction of new tests, and increase in approvals from regulatory bodies. For instance, in February 2023, Lucira Health has obtained emergency use authorization from the United States Food and Drug Administration (FDA) for its Lucira COVID-19 & Flu Home Test, an at-home rapid test kit. This kit provides results for both COVID-19 and flu tests within 30 minutes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in the prevalence of infectious diseases, increasing technological advancements, and growing number of new product introductions. For instance, in July 2023, EMPE Diagnostics introduced a unique rapid test kit called mfloDX MDR-TB in India for diagnosing tuberculosis. This kit, approved by CDSCO and endorsed by the WHO, holds patents in 19 countries.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Surge in collaborations among market players to introduce innovative rapid medical diagnostic tests is predicted to boost the market growth during the forecast period. Rapid diagnostic test (RDT) kits are rapid and simple medical diagnostic tests that yield results within minutes, making them ideal for initial or urgent medical screening. RDTs are especially valuable in medical facilities with limited resources, where access to laboratory facilities and specialized equipment may be limited. For instance, in March 2022, Together, the non-profit research organization Brain Chemistry Labs and the Utah-based medical test kit maker Arlington Scientific have developed an easy-to-use rapid test kit. This kit is designed to identify the presence of β-methylamino-L-Alanine (BMAA), a toxin found in cyanobacterial blooms that is responsible for causing Amyotrophic Lateral Sclerosis (ALS), a fatal paralytic disease.
By product, over-the-counter (OTC) kits was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the affordability & simplicity of over-the-counter (OTC) diagnostic products, suitable for use in near-patient settings, are increasing, rising incidence of infectious diseases, cardiovascular issues, diabetes, & other conditions, growing preference for these products in home care setups, reflecting a trend towards self-care, and heightened awareness regarding the importance of early disease detection. Additionally, professional kits is predicted to grow at the fastest CAGR during the forecast period owing to the enhanced accuracy & precision of these diagnostic tools make them increasingly appropriate for diagnosing & tracking a range of medical conditions, growing focus on early disease detection & personalized medicine, and surge in introduction of new tests. For instance, in October 2022, Roche, a pharmaceutical company, has introduced rapid antigen tests for self-testing and professional use in countries where the CE Mark is accepted.
By technology, lateral flow technology was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the rise in strategic actions taken by market participants. Lateral flow assays are widely utilized in hospitals, clinics, and diagnostic labs for both qualitative and quantitative detection of particular antigens, gene amplification products, and antibodies. They are cost-effective and user-friendly, delivering precise results in just minutes. Additionally, solid phase is predicted to grow at the fastest CAGR during the forecast period owing to the convenience of operation, swift turnaround of test outcomes, minimal sample needs, & capability to test multiple parameters simultaneously within one assay and increasing trend of collaboration among industry frontrunners. For instance, in August 2023, CrisprBits, a biotechnology startup, has revealed a strategic partnership with MolBio Diagnostics to introduce point-of-care tests utilizing CRISPR technology.
By application, blood glucose testing was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 owing to the widespread utilization of these tests & a variety of rapid blood glucose tests are readily accessible, increasing adoption for immediate assessment of high blood cholesterol levels, rising number of diabetic patients, growing demand for self-monitoring devices for glucose levels. Additionally, infectious disease testing is predicted to grow at the fastest CAGR during the forecast period owing to the increasing occurrence of infectious diseases, rising demand in clinical settings for swift diagnosis, and growing number of new tests being introduced to address these needs. For instance, in February 2023, Mylab has introduced rapid tests for sexually transmitted diseases (STIs) such as Syphilis, hepatitis C virus (HCV), and human immunodeficiency virus (HIV). These rapid tests are designed to detect antibodies against HIV 1 and 2, HCV, and Treponema Pallidum (TP) for the diagnosis of HIV, HCV, and Syphilis.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global rapid medical diagnostic kits market in 2023 as they act as the main healthcare facility for diagnosing & treating various diseases, growing demand for hospitals offering advanced diagnostic services, the utilization of these kits is increasing across a broad spectrum of medical conditions, such as infectious diseases, cardiac markers, & pregnancy testing, rising focus on point-of-care testing, and increase in collaborations among market players. For instance, in June 2022, Kingston Hospital NHS Foundation Trust partnered with the Royal Marsden Partners to establish the Rapid Diagnostic Cancer Clinic (RDCC) in the United Kingdom, providing expedited diagnostic services to facilitate timely cancer detection across the country. Additionally, home care is predicted to grow at the fastest CAGR during the forecast period owing to the convenience & ease of access enable individuals to manage their health conditions without requiring frequent visits to healthcare facilities, rising trend towards self-monitoring and home-based healthcare, growing aging population, and increasing prevalence of chronic diseases.
North America region is anticipated for the highest revenue share during the forecast period owing to the heightened emphasis on developing innovative rapid diagnostic tests, surge in the introduction of new tests, and increase in approvals from regulatory bodies. For instance, in February 2023, Lucira Health has obtained emergency use authorization from the United States Food and Drug Administration (FDA) for its Lucira COVID-19 & Flu Home Test, an at-home rapid test kit. This kit provides results for both COVID-19 and flu tests within 30 minutes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in the prevalence of infectious diseases, increasing technological advancements, and growing number of new product introductions. For instance, in July 2023, EMPE Diagnostics introduced a unique rapid test kit called mfloDX MDR-TB in India for diagnosing tuberculosis. This kit, approved by CDSCO and endorsed by the WHO, holds patents in 19 countries.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Technology, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Rapid Medical Diagnostic Kits Market Report 2023 - 2034
Rapid Medical Diagnostic Kits Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Professional Kits
- Over the Counter (OTC) Kits
Rapid Medical Diagnostic Kits Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Solid Phase
- Lateral Flow
- Agglutination
- Others
Rapid Medical Diagnostic Kits Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Infectious Disease Testing
- HIV
- Influenza
- Hepatitis
- COVID-19
- Others
- Toxicology Testing
- Coagulation Testing
- Lipid Profile Testing
- Blood Glucose Testing
- Cardiometabolic Testing
- Fecal Occult Blood Testing
- Pregnancy and Fertility Testing
- Others
Rapid Medical Diagnostic Kits Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Diagnostic Laboratories
- Hospitals & Clinics
- Home Care
Rapid Medical Diagnostic Kits Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Rapid Medical Diagnostic Kits Market: Product Estimates & Trend Analysis
8. Rapid Medical Diagnostic Kits Market: Technology Estimates & Trend Analysis
9. Rapid Medical Diagnostic Kits Market: Application Estimates & Trend Analysis
10. Rapid Medical Diagnostic Kits Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Rapid Medical Diagnostic Kits Market
13. Europe Global Rapid Medical Diagnostic Kits Market
14. Asia Pacific Global Rapid Medical Diagnostic Kits Market
15. Latin America Global Rapid Medical Diagnostic Kits Market
16. MEA Global Rapid Medical Diagnostic Kits Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Danaher Corporation
- BTNX Inc.
- Artron Laboratories Inc.
- Zoetis
- Cardinal Health
- Alfa Scientific Designs Inc.
- BD
- bioMérieux SA
- Meridian Bioscience Inc.
- Sight Diagnostics Ltd.
- Trinity Biotech
- Creative Diagnostics
- F. Hoffmann-La Roche AG
- Abbott
- McKesson Medical-Surgical Inc.
- Bio-Rad Laboratories Inc.
- ACON Laboratories Inc.
