Infectious Disease Rapid Diagnostic Testing Market Forecasts to 2030: Global Industry Growth, Share, Size, Trends by Emergen Research
The global infectious disease rapid diagnostic testing market size is expected to reach USD 51.01 Billion in 2030 and register a revenue CAGR of 7.0% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of infectious diseases and emergence of COVID-19 are some key factors driving market revenue growth. Prevalence of infectious diseases has been rising, in both developed and developing countries, and resulting in steady demand for infectious disease rapid diagnostic testing.
Following the pandemic, the need to identify and monitor infectious diseases has been placed on significantly high importance and has driven major increase in demand for testing kits. Moreover, rising preference for preventive care is expected to increase need for infectious disease diagnostics over the forecast period. Large-scale population-based testing is necessary to strengthen COVID-19 preventive and control efforts and measures, which is expected to continue to drive increased demand for infectious disease diagnostic products in future.
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Prominent Players Analyzed in the Report:
Abbott Laboratories, Danaher Corporation, BGI Group, DiaSorin S.p.A, F. Hoffmann-La Roche Ltd., Luminex Corporation, bioMérieux S.A., Hologic, Inc., Thermo Fisher Scientific Inc., and Becton, Dickinson, and Company, among others.
Rise in number of cases of Severe Acute Respiratory Syndrome Coronavirus-19 (SARS-Cov-19) has led to increased demand for infectious disease rapid diagnostic testing products globally. Presently, majority of countries are focusing on flattening the curve of community transmissions of coronavirus, which is driving demand for diagnostics products. Another factor driving product demand is scale-up of manufacturing capabilities by market players to meet rising product demand in the current scenario, as well as to prepare for future situations.
Some Key Highlights From the Report
- Reagents & kits segment revenue is expected to register a steady growth rate during the forecast period due to rising demand for kits and reagents in research and clinical settings. Ongoing COVID-19 infections in some countries is also driving use of reagents and kits.
- Polymerize Chain Reaction (PCR) segment accounted for a significantly large revenue share in 2021 owing to increasing use of PCR in molecular diagnostics as well as use of Reverse Transcription–Polymerase Chain Reaction (RT-PCR) in the COVID-19 test. Automation of PCR equipment and introduction of advanced technologies such as qRT-PCR are expected to drive revenue growth of this segment.
- Market in Asia Pacific is expected to register a considerably rapid revenue growth rate in the global infectious disease rapid diagnostic testing market over the forecast period due to increasing research & development activities in the healthcare industry in China and Japan. Moreover, high prevalence of chronic diseases, coupled with government initiatives to support diagnosis of infectious diseases, are key factors driving revenue growth of the market in the region.
- On 16 March 2021, Hoffmann-La Roche Ltd. launched the SARS-CoV-2 variant test to aid the detection of new coronavirus variants. The cobas SARS-CoV-2 variant set 1 test is intended to identify critical spike changes in viral variants linked to enhanced human-to-human transmission. Accurate identification and classification of SARS-CoV-2 variants can aid in assessing the spread of circulating variants and in monitoring their potential impact on treatment, vaccines, and public health measures.
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Emergen Research has segmented the global infectious disease rapid diagnostic testing market on the basis of product & service, technology, disease, end-use, and region:
Product & Service Outlook (Revenue, USD Billion; 2019–2030)
- Reagent & Kits
- Data Management Software
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Enzyme-linked Immunosorbent Assay (ELISA)
- Enzyme-linked Immunospot Assay (ELISpot)
- Polymerize Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Microarray
- Clinical Microbiology
- Other Technologies
Disease Outlook (Revenue, USD Billion; 2019–2030)
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospital & Clinical Laboratories
- Diagnostic Center
- Academic & Research Institutions
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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The report addresses the following key points:
- The report estimates the expected market size from 2020-2030
- The report provides a forecast of market drivers, restraints, and future opportunities for the Infectious Disease Rapid Diagnostic Testing market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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