#Rapid Diagnostic Market

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Infectious Disease Rapid Diagnostic Testing is primarily adopted for the diagnosis of various infectious diseases in a restricted clinical environment. These testing primarily relies on the detection of the target analyte, offering clinical insights in a stipulated time frame. Such testing is becoming an integral component of the healthcare system across the globe. 

[healthcaremarketanalysis]

Point of Care Diagnostics Market worth $77.8 billion by 2028

The global point-of-care diagnostics market, valued at $49.7 billion in 2023, is projected to reach $77.8 billion by 2028, growing at a CAGR of 9.4%. Key drivers include the rising prevalence of infectious diseases like influenza, HIV, and tuberculosis, supportive government policies, and the shift towards healthcare decentralization. Challenges include pricing pressures due to reimbursement cuts and stringent regulatory approvals. Significant growth opportunities exist in emerging markets like China, India, Brazil, and Mexico. In 2022, glucose monitoring products held a significant market share, with lateral flow assays leading by platform. Major players include Abbott Laboratories, F. Hoffman-La Roche Ltd., BD, Danaher Corporation, and Siemens Healthineers. Recent developments feature FDA approvals for new diagnostic panels by bioMérieux and BD, and a partnership between Thermo Fisher Scientific and Project HOPE to expand HIV testing in Sub-Saharan Africa.

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The Lateral Flow Assays segment, by platform, is expected to register the largest market share of the global point of care diagnostics industry in 2022.

Based on platform, the point-of-care diagnostics market is segmented into lateral flow assays, immunoassays, microfluidics, dipsticks, and molecular diagnostics. The lateral flow assays segment dominated this market with a share of in 2022.Lateral flow assays are simple in usage, relatively inexpensive, making it more accessible for patients and healthcare provider, LFA technology does not require trained person to operate, allowing them to be used in various healthcare settings, from clinics and pharmacies to  remote arears, promoting healthcare decentralization. All these factors are contributing towards the dominance of lateral flow technology in point of care diagnostics market.

The OTC testing product segment, by mode of purchase, to dominate the global point of care diagnostics industry in 2022.

On the basis of mode of purchase OTC testing products segment accounted the largest market share in 2022 attributed to the increasing adoption of OTC products owing to its ease of usage and convenience. The presence of diverse range of OTC point of care devices for diseases screening, personal health monitoring and various other conditions further contribute to the rising demand for OTC PoC testing devices among consumers.

North America to account for the largest share of point of care diagnostics industry during the forecast period.

North America is the expected to be the largest regional market for point of care diagnostics during the forecast period. The presence of a well-established healthcare system, rapid adoption of advanced point of care testing products, increase in the availability of medical reimbursement, favourable government support for the novel product development, and higher user awareness about the presence of point of care testing products are anticipated to support the market growth in the region

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Point of Care Diagnostics Market Dynamics:

Drivers:

Rising incidence of infectious diseases

Increasing prevalence of target conditions

Favorable government initiatives for POC testing

Rising number of CLIA-waived POC tests

Restraints:

Pricing pressure on POC manufacturers

Stringent regulatory approval process for product commercialization

Opportunities:

High growth potential of emerging markets

Decentralization of healthcare

Innovative product development

Challenge:

Inadequate standardization with centralized lab methods

Limited awareness in emerging markets

Premium pricing of novel platforms

Key Market Players of Point of Care Diagnostics Industry:

As of 2022, the point of care diagnostics market was dominated by Abbott Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), and Becton, Dickinson and Company (US)

Point of Care Diagnostics Market - Key Benefits of Buying the Report:

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:

Analysis of Key divers (rising prevalence of infectious and chronic disease, growing adoption of self-testing kits, helathacre decentralization, rising number of CLIA-wavier Poc Tests), restraints (rising pricing pressure on PoC manufactures, stringent regulatory approval procedures for new PoC devices), Opportunities (emerging markets, emerging technologies, such s microfluidics) , Challenge (Training & education in low resource countries)

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the point-of-care diagnostics market

Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the point-of-care diagnostics market

Market Development: Comprehensive information on lucrative emerging regions

Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the point-of-care diagnostics market

Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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The global rapid medical diagnostic kits market was USD 14.36 Billion in 2022 and is expected to reach USD 17.16 Billion in 2032, and register a revenue CAGR of 2% during the forecast period. 

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Global Poultry Diagnostics Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Molecular Diagnostic Tests

The global Poultry Diagnostics Market is estimated to be valued at US$ 536.7 million in 2023 and is expected to exhibit a CAGR of 11.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Poultry diagnostics refer to the testing and detection of various diseases and infections in poultry farms. These diagnostics play a crucial role in preventing and managing the spread of diseases amongst poultry animals, such as chickens and turkeys. The market for poultry diagnostics is driven by the increasing demand for poultry products, rising concerns about food safety, and the need for early and accurate diagnosis of diseases to prevent economic losses for farmers. Poultry diagnostics also help in improving animal welfare and overall productivity. Market Key Trends: One key trend in the global poultry diagnostics market is the increasing adoption of molecular diagnostic tests. Molecular diagnostic tests, such as PCR (polymerase chain reaction) and DNA sequencing, offer high sensitivity and specificity in detecting and identifying various infectious diseases in poultry animals. These tests enable rapid diagnosis, identification of pathogens, and monitoring disease outbreaks. For instance, Bioingentech, a key player in the poultry diagnostics market, offers molecular diagnostic kits for avian influenza virus detection. PEST Analysis: - Political: Government regulations play a significant role in the poultry industry. Stringent rules regarding food safety and disease control drive the demand for poultry diagnostics. - Economic: The demand for poultry products is increasing worldwide due to population growth and rising disposable incomes. This fuels the need for efficient disease management through diagnostics. - Social: Consumer awareness about food safety and the importance of disease-free poultry products is growing, leading to the adoption of poultry diagnostics. - Technological: Advancements in diagnostic technologies, such as point-of-care testing and real-time PCR, are revolutionizing the poultry diagnostics market. These technologies offer faster and more accurate results. Key Takeaways: Paragraph 1: The Global Poultry Diagnostics Market Demand is expected to witness high growth, exhibiting a CAGR of 11.4% over the forecast period, due to increasing adoption of molecular diagnostic tests. These tests provide rapid and accurate detection of infectious diseases, ensuring timely disease management and prevention of economic losses for farmers. Paragraph 2: The North America region is expected to dominate the global poultry diagnostics market, primarily driven by the presence of major market players, well-established poultry industry, and strict regulations on food safety. Asia Pacific is expected to be the fastest-growing region due to the increasing demand for poultry products and the need for efficient disease management in densely populated countries like China and India. Paragraph 3: Key players operating in the global poultry diagnostics market include Zoetis, Thermo Fisher Scientific Inc., Baltivet, Bioingentech, Devex, BioChek, QIAGEN, Bioneer Corporation, Megacor Diagnostik GmbH, Merck & Co., Inc., IdentiGEN, Abaxis, BIOMERIEUX, Transasia Bio-Medicals, Boehringer Ingelheim International GmbH, EW Group Ltd., and Hygiena, LLC. These players focus on product innovation, strategic collaborations, and acquisitions to gain a competitive edge in the market.

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From Glass to Plastic: Understanding the Evolution of Blood Collection Tubes

The Global Blood Collection Tubes Market report provides insight into global economies as well as business perspectives on macroeconomic factors affecting the market. A detailed breakdown of the market structure, as well as significant business trends and challenges, is included in the report. This research report also analyzes historical data and future business opportunities in the global blood collection tubes market.

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Business cycles, demographics, and microeconomic requirements have been evaluated in this report to comprehensively understand the global blood collection tubes market. Furthermore, the global blood collection tubes market study specifies an in-depth analysis of the current business circumstances. This study report also evaluates a variety of financial factors like production value, growth rate, and key regions in order to identify ways to increase the company's revenue.

The following key players dominate the blood collection tubes market:

Becton, Dickinson and Company

Greiner Bio One International GmbH

Streck Inc.

SiO2 Materials Science

QIAGEN

McKesson Medical-Surgical Inc.

FL MEDICAL s.r.l.

Haemonetics Corporation

AdvaCare Pharmaceuticals

Sarstedt AG & Co.

Narang Medical Limited

A list of the largest players in the global blood collection tubes market is provided in this report, allowing you to gain a deeper understanding of those companies. In order to educate businesses about growing their business, this data will be of benefit to both existing and emerging companies.

Throughout the world, production facilities have struggled due to strict lockdowns imposed by the COVID-19 pandemic.

Furthermore, certain prominent players experienced a drop in demand for their products as a result of changes in consumer behavior toward their spending patterns. As the industry recovers from the pandemic, the global blood collection tubes market is expected to grow significantly in revenue by the year 2030.

There have been various research methodologies used for the global analysis of the blood collection tubes market, including primary and secondary research, PESTEL and SWOT analyses, and Porter's five forces model, among others. It has been the objective of this study to provide a better understanding of prices, costs, revenues, and numbers using statistics and figures, and tables.

Sales, demand, product advancements, and production capacity are covered in this report, as well as a comprehensive overview of the blood collection tubes market. Additionally, the report analyzes various segments of the global blood collection tubes market, as well as supply chains, distribution chains, and company execution across regional markets. This report will help prominent as well as new entrants in this industry to assess their production, marketing, and sales approaches.

By Type, the blood collection tubes market can be categorized into:

Plasma Separating Tube

Serum Separating Tube

Heparin Tubes

EDTA Tubes

Rapid Serum Tubes

Others 

In terms of End User, the market for blood collection tubes is further divided into:

Hospitals and Clinics

Research Centers

Diagnostic Laboratories

Others 

Several aspects of this industry are included in the global blood collection tubes market research report, including future growth prospects, business plans, and sales figures. The focus of this report is on forecasted market sizes as well as market shares of companies in the blood collection tubes market. As a result, several economic and social factors have a greater impact on the business than they have ever been. In this study report, critical information is provided to assist businesses in developing effective strategies for promoting their products and services.

Using the information in this report, companies can formulate business plans and strategies based on the changing market trends by analyzing market dynamics and perspectives. By understanding the market trends and dynamics, companies will be able to grow and stay competitive. To ensure the validity of the data quoted in this report, scientific papers and other credible sources were reviewed.

Furthermore, the report includes forecasts about growing companies in the industry based on their segmentation by region. According to the geographical regions, this research examines the global markets in North America, Europe, Asia-Pacific, Latin America, Africa, and the Middle East. Essentially, it examines future revenue potentials and trends in business and how businesses can benefit from technology advancements.

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Source: Next Move Strategy Consulting

[healthcaremarketanalysis]

The global point-of-care diagnostics market, valued at $49.7 billion in 2023, is projected to reach $77.8 billion by 2028, growing at a CAGR of 9.4%. Key drivers include the rising prevalence of infectious diseases like influenza, HIV, and tuberculosis, supportive government policies, and the shift towards healthcare decentralization. Challenges include pricing pressures due to reimbursement cuts and stringent regulatory approvals. Significant growth opportunities exist in emerging markets like China, India, Brazil, and Mexico. In 2022, glucose monitoring products held a significant market share, with lateral flow assays leading by platform. Major players include Abbott Laboratories, F. Hoffman-La Roche Ltd., BD, Danaher Corporation, and Siemens Healthineers. Recent developments feature FDA approvals for new diagnostic panels by bioMérieux and BD, and a partnership between Thermo Fisher Scientific and Project HOPE to expand HIV testing in Sub-Saharan Africa.

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The coronavirus pandemic has caused disruption in supply chain management and logistics distribution by affecting majority of businesses across the globe. Forced lockdown, shutdown of production, and manufacturing activities have hampered the global rapid medical diagnostic kits market. Market players from the global rapid medical diagnostic kits market are recovering from the losses and focusing on re-establishing their businesses by using strategic approaches. Manufacturers are focusing on increasing the production of innovative diagnostic kits products to attract consumers across the globe. The increasing awareness about health and fitness after the threatening coronavirus pandemic can be attributed to the rapid expansion of global rapid medical diagnostic kits market.

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Rapid Diagnostic Tests (RDTs) Market is anticipated to grow at a CAGR of 4.5% from 2021 to 2026 | Medi-Tech Insights

Rapid diagnostic tests, often known as RDTs are simple-to-use procedures that offer outcomes in within 20 minutes. Unlike most standard diagnostic tests, which are required to be sent to a lab for analysis, RDTs are performed and results are provided at the point-of-care. Rapid tests are most frequently used to diagnose infectious diseases, such as flu, malaria, HIV, and COVID 19, among others.

The Global Rapid Diagnostic Tests (RDTs) Market is set to witness a CAGR of 4.5% from 2021 to 2026. High acceptance of point-of-care (POC) diagnostics, availability of advanced quick testing devices, rising prevalence of infectious & other chronic diseases, and growing geriatric population are some of the key factors boosting the global rapid diagnostic tests (RDTs) market.

High influence of COVID 19 fueled the demand for RDTs

The RDTs market has experienced a positive impact due to the COVID 19 pandemic. Even though the demand for RDTs specifically for the detection of SARS-CoV-2 during 2020 and 2021 increased exponentially, the pandemic showed a negative impact on the sales of RDTs for cancer screening, blood glucose, cardiac markers, and other infectious diseases, among others.

However, during the past two years, there has been a significant development in the global rapid diagnostic tests (RDTs) market; some of them are included below:

In October 2021, the NIH Rapid Acceleration of Diagnostics (RADx) initiative has awarded contracts totalling $77.7 million for the development and manufacturing of 12 new rapid diagnostic tests for SARS-CoV-2; offering high performance and low-cost home and POC tests

In September 2021, LumiraDx, a next-generation POC diagnostics company, launched its LumiraDx SARS-CoV-2 Ag Surveillance Test in the US market, specifically for use at schools and workplaces; which allows simultaneous testing of up to five samples on a small and portable instrument, costing $4 per sample and delivering digital results within 12 minutes

In July 2021, the Department of Defense (DOD), in coordination with the Department of Health and Human Services (HHS) has awarded a contract of $35.1 million to LightDeck Diagnostics, to scale-up the production capacity of LightDeck’s SARS-CoV-2 Ultra-Rapid Antigen and COVID-19 Total Antibody Tests

In March 2021, FUJIFILM Corporation announced the launch of its antigen testing kit – ‘FUJIFILM COVID-19 Ag Test’, for detecting SARS-CoV-2, which is developed by using highly-sensitive detection technology based on silver halide amplification

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Collaborations and acquisitions to increase acceptance and co-develop advanced solutions

The rapid diagnostic tests (RDTs) market has witnessed a number of acquisitions by market players to either enhance the adoption of these tests or to co-develop advanced diagnostic tests.

Some of the strategic initiatives that boost the adoption of RDTs are listed below:

In April 2022, bioMérieux entered into an agreement to acquire Specific Diagnostics, a developer of rapid antimicrobial susceptibility test (AST) system. Rapid AST provides fast and accurate AST results while reducing the global antimicrobial resistance (AMR) burden caused by antibiotic resistant pathogens

In February 2022, Sorrento Therapeutics, Inc. acquired a majority ownership of Zhengzhou Fortune Bioscience Co., Ltd. (FortuneBio), a diagnostic product manufacturer and Sorrento’s exclusive OEM manufacturer for COVISTIX. With enhanced sensitivity in detecting the Omicron variant, COVISTIX is a rapid antigen detection test for SARS-CoV-2 and its major variants of concern (VOCs)

In February 2021, Becton, Dickinson and Company collaborated with Scanwell Health, a provider of smartphone-enabled at-home medical tests, to develop an at-home rapid test for SARS-CoV-2 using Becton, Dickinson and Company’s antigen test and Scanwell Health’s mobile app

Competitive Landscape Analysis of Rapid Diagnostic Tests (RDTs) Market

The global rapid diagnostic tests (RDTs) market is marked by the presence of key players such as Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (US), and ACON Laboratories, Inc. (US), and others.

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