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The rapid diagnostics market size is forecast to increase by USD 11.76 billion at a CAGR of 7.08% between 2023 and 2028. The market is experiencing significant growth due to the increasing incidence of chronic and infectious diseases, such as cancer, cardiac conditions, and infectious diseases, which necessitate routine testing. The market is driven by the growing presence of Original Equipment Manufacturers (OEMs) offering advanced diagnostic solutions for proteins, health conditions, and disease detection. However, the high cost of rapid diagnostic products remains a major challenge, limiting accessibility in underserved populations and markets. Key application areas include blood glucose testing, cardiac markers, lipid profile, and cholesterol testing. The market is expected to continue its growth trajectory, driven by technological advancements and increasing demand for accurate, quick, and cost-effective diagnostic solutions.
The global rapid diagnostic test market is experiencing significant growth due to the increasing demand for rapid and accurate diagnostic tests in various healthcare settings. These tests are widely used in health facilities, screening sites, and by healthcare providers for the detection of various diseases such as hepatitis, influenza, dengue, and coronavirus. Rapid Diagnostic Tests (RDTs) using antigens and antibodies or genetic material are becoming increasingly popular due to their ease of use, quick results, and portability. RDTs are particularly useful in resource-limited settings and for point-of-care testing in hospitals, clinical laboratories, and primary care settings. The use of RDTs can help reduce misdiagnosis and inappropriate treatment, ultimately leading to improved patient management. Medical gloves and diagnostic equipment are essential accessories used in conjunction with RDTs to ensure safety and accuracy. The market is expected to continue growing due to the increasing burden of infectious diseases and the need for early and accurate diagnosis.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The blood glucose segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth, particularly in the segment of Immunoassays, due to the increasing prevalence of chronic diseases among the geriatric population. Chronic diseases such as hepatitis, influenza, dengue, and coronavirus are driving the demand for rapid diagnostic tests. According to the Centers for Disease Control and Prevention (CDC), in the US alone, around 1.4 million new cases of diabetes were diagnosed in 2019, affecting individuals across various age groups, including 18-44 years, 45-64 years, and 65 years and above. The World Health Organization (WHO) reports that over 50 million cases of hepatitis B and C are found in people aged 50 and above.
In addition, the infectious disease segment is expected to dominate the market due to the rising incidence of infectious diseases and the need for early and accurate diagnosis. Medical gloves and diagnostic equipment are essential accessories in the rapid diagnostics industry, ensuring safety and accuracy during testing procedures. The market is expected to grow steadily during the forecast period, driven by the increasing prevalence of chronic diseases and the need for early and accurate diagnosis.
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The blood glucose segment accounted for USD 14.14 billion in 2018 and showed a gradual increase during the forecast period.
Asia is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In 2023, North America held a significant share of the market due to the increasing prevalence of chronic diseases and infectious diseases. According to the Centers for Disease Control and Prevention (CDC), approximately 28.4 million adults in the US were diagnosed with heart diseases in 2019, accounting for around 11.7% of the population. This region also reported 696,962 deaths due to heart diseases in 2020. Chronic diseases such as heart diseases and diabetes, as well as infectious diseases like HIV/AIDS, hepatitis, influenza, dengue, and coronavirus, are major drivers of the market. Risk factors for these conditions include an unhealthy lifestyle, alcohol consumption, excessive smoking, and high cholesterol levels, which are prevalent in North America.
As a result, the adoption of rapid diagnostic products, including immunoassays and diagnostic equipment, is on the rise to ensure early detection and effective treatment. Medical gloves are also essential in this context to maintain hygiene and prevent cross-contamination during diagnostic procedures.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing incidence of chronic and infectious diseases is the key driver of the market. The global market for rapid diagnostics is experiencing significant growth due to the increasing prevalence of chronic diseases such as heart diseases, diabetes, stroke, cancers, obesity, and kidney diseases. These conditions can be effectively diagnosed using point-of-care (POC) products, including rapid antigen tests. According to the Centers for Disease Control and Prevention (CDC), approximately 88 million individuals in the US had one or more chronic health conditions in 2020, and one in four adults in the US suffer from two or more chronic diseases. Unhealthy lifestyles, such as sedentary behavior, poor nutrition, and addiction to alcohol and tobacco, are major risk factors for chronic diseases.
As a result, there is a growing demand for rapid diagnostic tests, which can be easily accessed at various channels such as supermarket chains, drug stores, pharmacies, e-commerce websites, and web meetings, for both symptomatic and asymptomatic individuals. These tests provide quick results, enabling early intervention and effective treatment, ultimately improving patient outcomes.
The growing presence of OEMs is the upcoming trend in the market. The OEM sector plays a crucial role in the market by supplying essential components to manufacturers producing vaccination kits, negative test equipment, and rapid antigen tests. These manufacturers include supermarket chains, drug stores, pharmacies, e-commerce websites, and other diagnostic laboratories. OEMs, such as Sekisui Diagnostics, a division of Sekisui Chemical, contribute significantly to the diagnostics industry by providing differentiated products, including diagnostic tests, reagents, and systems. The focus on forward integration by OEMs is increasing, with some manufacturing complete devices, while others collaborate with contract manufacturing organizations (CMOs) to produce combination products like drug delivery and smart devices. This trend is particularly relevant in the context of the growing demand for rapid diagnostics, especially among both symptomatic and asymptomatic individuals, as evidenced by the increasing number of web meetings and virtual consultations.
The high cost of rapid diagnostic products is a key challenge affecting the market growth. The market encompasses various products, including analyzers, assays, and consumables, which are frequently utilized in healthcare settings such as hospitals, clinics, and diagnostics laboratories. POC (Point of Care) diagnostic tests, known for their faster turnaround times, incur higher costs due to the expense of the test products. For instance, a study conducted by the National Institutes of Health (NIH) compared the costs of rapid molecular tests, like the Xpert MTB/RIF Assay for tuberculosis detection, to conventional diagnostics in South Africa. The Xpert MTB/RIF Assay cost around USD 12-USD 15 per sample, while the MTBDRplus line probe assay cost around USD 22-USD24 per sample, which are slightly more expensive than conventional automated liquid culture-based methods that cost approximately USD 14-USD 16 per sample.
Supermarket chains, drug stores, pharmacies, and e-commerce websites have emerged as significant distribution channels for these diagnostic products, catering to both symptomatic and asymptomatic individuals. Web meetings and teleconsultations have also become essential platforms for healthcare professionals to discuss test results and provide necessary guidance, further expanding the market's reach.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers rapid diagnostics that provides fast, accurate and reliable test results is vital in emergency rooms, critical care centers and other situations where treatment decisions need to be made quickly.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The global rapid diagnostic test market is witnessing significant growth due to the increasing demand for rapid and accurate diagnosis in various health facilities and screening sites. RDT kits, which include antigens, antibodies, and genetic material, are becoming increasingly popular in hospitals and clinical laboratories for diagnosing diseases such as cancer, blood glucose, cardiac markers, lipid profile, cholesterol, and infectious diseases like hepatitis, influenza disease, dengue, coronavirus, HIV, and others. Rapid antigen tests and immunoassays are commonly used for diagnosing diseases in both symptomatic and asymptomatic individuals. Supermarket chains, drug stores, pharmacies, and e-commerce websites are also stocking up on RDT kits for home use. Decentralized settings like web meetings and primary care are also adopting rapid diagnostic testing for precision diagnosis and patient management.
Further, the infectious disease segment holds a significant market share due to the high prevalence of infectious diseases and the need for early and accurate diagnosis. Misdiagnosis and inappropriate treatment can lead to adverse health conditions and increased healthcare costs. Therefore, the demand for inexpensive diagnostic testing, bedside diagnostic testing, and cardiometabolic rapid diagnostics is increasing. Rapid antibody tests, such as rapid HIV test and rapid plasma regain, are also gaining popularity for their ability to provide quick results. Diagnostic equipment like medical gloves and diagnostic tests for coagulation and toxicology are also part of the rapidly growing market. The geriatric population and those with chronic diseases are major consumers of these tests due to their increased susceptibility to various health conditions. The epidemiology of various diseases and the need for early screening are also driving the growth of the market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
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Market growth 2024-2028 |
USD 11.76 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.49 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
Asia at 33% |
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Key countries |
US, Canada, Japan, Germany, France, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Atomo Diagnostics Ltd., Becton Dickinson and Co., bioMerieux SA, Cardinal Health Inc., Chembio Diagnostics Inc., DAAN Gene Co. Ltd., Danaher Corp., DiaSorin SpA, F. Hoffmann La Roche Ltd., GlySens Inc., Johnson and Johnson Services Inc., Meridian Bioscience Inc., NanoRepro AG, OraSure Technologies Inc., Quidelortho Corp., Siemens Healthineers AG, Thermo Fisher Scientific Inc., Trinity Biotech Plc, and Wuhan EasyDiagnosis Biomedicine Co. Ltd |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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