Westford, USA, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the rapid diagnostics market is set to benefit from the increasing demand for bedside diagnostic testing. There is a growing emphasis on delivering timely and on-the-spot diagnostic results, which expedites patient care and contributes to more efficient healthcare management as the healthcare landscape evolves. This convergence of accurate diagnostics, affordability, consumer education, and the demand for immediate results positions the market on a trajectory of significant expansion.
Browse in-depth TOC on the "Rapid Diagnostics Market”
- Pages - 157
- Tables - 121
- Figures – 70
The prevalence of chronic diseases, including diabetes, cardiovascular ailments, and various infectious conditions, has notably increased in the rapid diagnostics market. This rise in health challenges has significantly underscored the imperative for point-of-care diagnostics in the forecast period.
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Prominent Players in Rapid Diagnostics Market
- Abbott Laboratories
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- ACON Laboratories, Inc.
- Creative Diagnostics
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- BioMérieux S.A.
- Alfa Scientific Designs, Inc.
- BTNX Inc.
- Meridian Bioscience, Inc.
- Trinity Biotech plc
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Kits Segment is Expected to Grow the Market Due to their Frequent Utilization of Diagnostic Kits
Kits segment is projected to emerge as a dominant force, capturing the largest market share within the rapid diagnostics market. This preeminence can be attributed to factors that underscore the segment's significance. The high adoption rate and frequent utilization of diagnostic kits drive their substantial market presence.
The market in North America, having generated USD 14.48 billion in sales during 2022, is poised to maintain its market dominance throughout the forecast period. This projection is underpinned by compelling factors that collectively position the region at the forefront of the diagnostics landscape in the rapid diagnostics market.
Immunoassays Segment is Expected to Dominate the Market Due to the Escalating Elderly Population
Immunoassays are poised to assert their dominance within the rapid diagnostics market. This significant market presence can be attributed to a confluence of pivotal factors that collectively underscore their key role. The escalating elderly population, often characterized by a higher susceptibility to chronic diseases, is a primary driver behind the substantial proportion held by immunoassays.
Regional markets in Europe are projected to exhibit significant growth, commanding a substantial CAGR while securing a dominant global rapid diagnostics market share. This forecasted expansion can be attributed to several compelling factors that position the region as a pivotal player in diagnostics.
A comprehensive analysis of the major players in the rapid diagnostics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Rapid Diagnostics Market
- Significant advancements were witnessed in diagnostic testing recently as leading companies unveiled innovative assay kits. Bio-Rad Laboratories, Inc. (U.S.) introduced the reliance on the SARS-CoV-2/FluA/FluB RT-PCR assay kit, a development that marked a crucial step in the ongoing battle against infectious diseases. This kit showcased a versatile approach by enabling the simultaneous detection of SARS-CoV-2 along with influenza A and influenza B viruses, thus streamlining the diagnostic process and offering a comprehensive insight into respiratory health.
- Thermo Fisher Scientific Inc. (U.S.) launched the TaqPath COVID-19 RT-PCR Kit, representing a significant stride in the global response to the COVID-19 pandemic. This kit played a pivotal role in the rapid and accurate detection of the SARS-CoV-2 virus, exemplifying the power of molecular diagnostics in disease detection and control.
Key Questions Answered in Rapid Diagnostics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the market, and how these differences shape the market's future growth?
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