Global Rapid Tests Market Overview:
The global market for rapid tests has been rising on account of the popularity of preliminary screening across medical facilities. Rapid tests refer to tests that can be used during emergencies at medical facilities or for home-care treatments. The most unique characteristic of this form of testing is the limited use of resources and the simplicity of execution. The stability of rapid tests at high temperatures coupled with the short span of execution for these tests has given an impetus to the growth of the global market.
Growth Drivers
- Increasing Popularity of Preliminary Screening across Medical Facilities
- High Incidence of Infectious Diseases
Market Trends
Roadblocks
- Lack of Food Control Infrastructure & Resources in Developing Countries
- Complexity in Testing Techniques
Opportunities
- Increasing Diagnostic Tests across Various Domains within Healthcare
- Rising Demand for Faster and Quantitative Assessment Results to Confirm Food Safety
Challenges
- High Cost Associated With Technologies
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Akers Biosciences, Inc. (United States), Abbott Laboratories (United States), Becton, Dickinson and Company (United States), Bio-rad Laboratories, Inc. (United States), Cepheid, Inc. (United States), Hologic Inc. (United States), Meridian Bioscience, Inc. (United States), OraSure Technologies, Inc. (United States), Quidel Corporation (United States) and F. Hoffman La Roche, Ltd. (Switzerland). Analyst at AMA Research see United States Players to retain maximum share of Global Rapid Tests market by 2026. Considering Market by , the sub-segment i.e.
will boost the Rapid Tests market. Considering Market by Technology, the sub-segment i.e. PCR-based will boost the Rapid Tests market. Considering Market by Food Tested, the sub-segment i.e. Meat & seafood products will boost the Rapid Tests market. Considering Market by Contaminant, the sub-segment i.e. Pathogens will boost the Rapid Tests market.
In April 2020, Affinity Health Partners announced the introduction of a point-of-care COVID-19 test to its production facilities and network partner’s facilities and is being offered in compliance with the Policy for Coronavirus (COVID-19) Disease Testing designed by the FDA.
What Can be Explored with the Rapid Tests Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Rapid Tests Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Rapid Tests
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Rapid Tests market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Rapid Tests market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Rapid Tests Provider, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.