The global rapid medical diagnostic
kits market size is predicted to reach USD 23.04 billion by 2027
Rapid medical diagnostic kits are also known as
'immediate test kits' which are designed to provide instant access to diagnose
the patients or the individual with several types of diseases. The rapid
medical diagnostic kits can be accessed 24/7 and help to deliver the immediate
course of action during an emergency period. The rapid medical diagnostic kits
are also cost-effective and easy to access anywhere.
Recent developments in the global market include the
new test launches such as SARS-CoV-2 rapid antigen test, 2019-nCoV IgG/IgM test
kit, On-Call Sure Platform, Afinion HbA1c Dx, TruQuick, etc. The launches are
associated with the diagnosis of diseases such as cardiac disorder, diabetes,
infectious disease, and others, which further leads to drive the market growth.
The prominent factors favoring market growth include
increasing launches and initiatives by the market players to provide rapid
treatment for addressing the diseases of the patients in the healthcare
industry. For instance, in July 2020, Bupa UK Insurance announced to launch a
rapid cardiac assessment service which can be accessible at home and can
perform all the diagnostic tests.
Market participants include Zoetis, ACON Laboratories,
Inc.; Trinity Biotech, Abbott Laboratories, McKesson Medical-Surgical, Inc.;
Sight Diagnostics Ltd, F. Hoffmann-La Roche AG, Artron Laboratories Inc.;
Meridian Biosescience, Inc.; Alfa Scientific Designs, Inc.; Creative Diagnostics,
Becton, Danaher Corporation, Dickinson and Company, Bio-Rad Laboratories, Inc.;
BTNX, Inc.; Cardinal Health, and bioMerieux SA among others.
For instance, in March 2020, Thermo Fisher Scientific
has acquired a supplier of sample preparation and molecular diagnostics
technologies to enhance the company's reach globally and therefore drive the
market growth. This acquisition strategy by the market players has appeared to
dominate a wide share of the global market.
