Global Infectious Diseases Rapid Diagnostic Testing Market to Expand At 10% CAGR Through 2025

July 15, 2020

According to the research report titled ‘Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020’, available at Market Study Report LLC, global infectious diseases rapid diagnostic testing market is predicted to showcase a y-o-y growth rate of 10% between 2020 and 2025.

Growing demand for early detection of diseases along with favorable government initiatives which encourage infectious disease diagnosis are prime factors driving the market growth. Improving healthcare infrastructure and increasing number of clinical research laboratories are also fueling the expansion of infectious diseases rapid diagnostic testing industry. Investments by public entities towards research institutes as well as awareness programs are also stimulating the industry outlook.

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In terms of technology, infectious diseases rapid diagnostic testing industry is split into agglutination assays, lateral flow, solid phase and flow through. As per type, the market is bifurcated into parasitology, mycobacteria, respiratory, HPV, malaria, influenza, hepatitis, HIV and others.

Citing the end-user scope, the market is classified into veterinary testing, home testing, and hospitals & clinical testing. The report states that veterinary testing accounted for a substantial market share in the year 2019 and is expected to register significant growth during the forecast period. Numerous market majors are focusing on developing cost effective and innovative kits with rapid diagnosis technologies for animal testing, which in turn is aiding the segmental growth.

From the regional frame of reference, global infectious diseases rapid diagnostic testing industry is divided into North America, South America, Europe, Asia-Pacific and Middle East & Africa, with prime focus on countries such as Mexico, Canada, U.S., Argentina, Brazil, Spain, Italy, France, Germany, UK, South Korea, Australia, Japan, India, China, Saudi Arabia and UAE.

The report cites that North America led the global market in the year 2019, primarily due to escalating investments in clinical research, rising number of patients and early adoption of advanced technologies.

Meanwhile, Asia-Pacific market is predicted to expand substantially by the year 2025. Increasing number of patients with serious disorders along with improving healthcare infrastructure are augmenting the regional demand for infectious diseases rapid diagnostic testing kits. High concentration of market players who are focusing on reducing product retail prices is also complementing the business dynamics in APAC.

Alfa Scientific Designs Inc., McKesson Medical-Surgical Inc., Zoetis Inc., ACON Laboratories Inc., Artann Laboratories Inc., Becton, Dickinson & Co., Abbott Diagnostics, Thermo Fisher Scientific Inc., Hologic Inc., and Siemens Healthcare Diagnostics are the major companies in global infectious diseases rapid diagnostic testing industry.

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