Market Statistics
| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 25.7 Billion |
| 2030 Forecast | USD 46.2 Billion |
| Growth Rate (CAGR) | 10.3% |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Nature of the Market | Fragmented |
Rapid Test Kit Market Size
Market Size Comparison
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Rapid Test Kit Market Future Prospects
The global rapid test kit market was valued at USD 25.7 billion in 2024, which is expected to reach USD 46.2 billion by 2030, growing at a CAGR of 10.3% during 2024–2030.
Rapid tests are used for preliminary screening, for the early diagnosis of diseases. Due to their reliability and fast results, they have widespread applications. Moreover, owing to their affordability and user-friendly nature, they can be performed in the convenience of one’s home, which is another reason they have gained a significant momentum in the market. The rise in the communicable disease incidence, increase in the awareness of the importance of early diagnoses, and growth in the geriatric population positively influence the demand for these tests.
The increase in the rate of foodborne illnesses and rise in the diabetic population are also among the main drivers. Moreover, the non-requirement for special equipment, particularly in a region with finite resources, is further propelling the growth of the market.
The high count of individuals infected with the COVID-19 virus had a profound impact on medical care around the globe. In order to facilitate diagnosis and effective isolation, numerous COVID-19 rapid test kits were released by healthcare organizations and governments.
The fear of catching the infection and imposition of rigorous lockdown due to the pandemic caused people to remain in their houses and avoid visiting clinical laboratories, hospitals, clinics, and diagnostic centers. This, in turn, fueled the adoption of at-home rapid test kits for various purposes, such as blood glucose monitoring, infectious disease testing, pregnancy testing, and cardiometabolic testing, thereby positively impacting the industry.
The increasing number of aged people is also one of the key drivers for the market. A rise of 2% in the count of people aged 65 years or above was observed globally from 2016 to 2021. This rise in the number of older people increases the demand for rapid test kits due to their increased susceptibility to various diseases.
SARS-CoV-2 Outbreak Led To Exponential Rise of Market Revenue
The outbreak of the novel coronavirus led to exponential growth of the market, due to the increase in the demand for rapid diagnostic solutions, to ultimately prevent the serious, life-threatening complications of the disease. Hence, The fear of catching the infection caused people to adopt these rapid point-of-care diagnostic kits to diagnose the disease at the earliest, from the convenience of their homes. The mandates for the availability of these kits by governments at various private and public hospitals also contributed toward the market growth.
Rise in Foodborne Disease Incidence To Drive Market Growth
The rising cases of foodborne diseases lead to an increase in the usage of rapid diagnostic kits to identify the presence of contaminants, via the screening of a food sample, to prevent complications. Advantages such as high sensitivity, specificity, rapid results, the ability to detect contaminants present in a low quantity, and the elimination of the limitations of conventional testing methods make advanced rapid tests popular, thereby driving the growth of the industry. In addition, these diagnostic tests are able to eliminate human error, reduce labor, and save time.
Rapid Test Kit Market Analysis
OTC Category To Witness Faster Growth in Product Type Segment
On the basis of product type, the over-the-counter category is expected to progress with over 10% CAGR during the forecast period. This can be attributed to the fact that these variants are not only readily available and reasonably priced but also easy to use, quick to give results, and convenient over PCR and other laboratory tests.
These rapid OTC kits help in the detection of various communicable and non-communicable diseases with limited symptoms, which, in turn, helps in early diagnosis, thereby offering a chance to prevent further complications associated with the disease. The increasing prevalence of infectious diseases and other chronic conditions, such as diabetes, thus, has a positive impact on the global OTC rapid test market.
The professional rapid test category held larger share in 2022. This is mainly due to the high number of COVID-19 cases, due to which governments have only approved the use of professional COVID-19 rapid antigen test kits at many diagnostic centers.
The increase in the use of these products for preliminary screening at hospitals and clinics because of their high sensitivity and specificity will contribute to the growth of the industry.
Lateral Flow Assay Category Dominates Technology Segment
On the basis of technology, the lateral flow assay category accounted for the largest market share, around 40%, in 2022. This is majorly attributed to the significant role of this technology in managing the coronavirus pandemic in settings with inadequate resources, as well as in industrialized nations.
The lateral flow test, also known as lateral flow immunoassay and immunochromatographic assay, is a simple analytical procedure that has a long shelf life and is ideal for point-of-care testing. Its ability to provide accurate and quick results, which are easily interpreted; minimal sample requirements, easy accessibility, and early disease diagnosis, combined with the increasing awareness and concern regarding physical fitness, make lateral flow assays a popular choice.
Blood Glucose Testing To Witness Highest Growth Rate
On the basis of application, the blood glucose testing category is expected to witness the fastest growth. As per the IDF Diabetes Atlas, the count of people with diabetes is forecast to rise significantly to 643 million by 2030 and 783 million by 2045. Medication, diet, and exercise are some of the factors that result in a fluctuation in the glucose level in the blood. Abnormal blood glucose levels can result in some serious life-threatening conditions.
The continuous rise in the number of diabetic patients, robust technological advancements in continuous glucose monitoring systems, and increasing awareness among people of maintaining a healthy lifestyle and being physically fit will influence the rapid test kit market positively.
The infectious disease testing category has the largest market share. The outbreak of SARS-CoV-2 resulted in an exponential rise in the demand for solutions for the early diagnosis of the illness, which has been a key contributor to the growth of the market. Since October 2020, a large number of confirmed cases are being reported every single day, ranging from 400,000 to 900,000.
Apart from COVID-19, a spike in the incidence of several other infectious diseases, including hepatitis and HIV, contributes toward the growth of the category.
Hospitals and Clinics Category to Dominate Market in End User Segment
Based on end user, the hospitals and clinics category accounted for the largest market share, approximately 50%, in 2022. The rise in the frequency of the novel coronavirus infection led to a high hospitalization rate. This drove the count of collaborations among the key market players and initiatives by governments globally to ensure the availability of test kits for the early diagnosis of COVID-19, to prevent further complications.
Hospitals serve as the primary care settings providing treatments and diagnosis, which is why they witness a high footfall of patients. Moreover, the constant advancements in testing methods due to the increasing expenditure in the healthcare industry worldwide will propel the category’s growth.
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Regional Analysis
North America Is Largest Revenue Contributor
In 2022, North America held the largest share, around 45%, which can be attributed to the presence of well-established pharmaceutical companies in the region, robust healthcare infrastructure, and heightened awareness among the population of maintaining good health.
Europe is the second-largest region in the market because of the rising geriatric population and presence of major players. In 2022, around 19% of the people were above the age of 65 years in Europe, which, in turn, has a positive impact on the demand for these kits.
Market Breakdown
Based on Type
- Rapid Antigen
- Rapid Antibody
Based on Product Type
- Over-the-Counter (OTC)
- Professional
Based on Technology
- Lateral Flow Assays
- Solid Phase
- Agglutination
- ImmunoSpot Assay
Based on Duration
- Less than 30 Minutes
- Less than 10 Minutes
- Less than 1 Hour
- 1–2 Hours
- Others
Based on Application
- Blood Glucose Testing
- Infectious Disease Testing
- Pregnancy and Fertility Testing
- Cardiometabolic Testing
Based on End User
- Hospitals & Clinics
- Homecare Settings
- Diagnostic Centers
Based on Specimen
- Blood
- Urine
- Nasal Swab
- Saliva
Based on Distribution Channel
- Online
- Offline
Geographical Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K
- France
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
- U.A.E.
Top Rapid Test Kit Producing Companies
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Danaher Corporation
- Becton, Dickinson and Company
- PerkinElmer Inc.
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
- Bio-Rad Laboratories Inc.
- OraSure Technologies Inc.
Frequently Asked Questions About This Report
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