Rapid Test Kits Market Growth, Analysis, Size, Share by 2030

[Research Report]The rapid test kits market is projected to grow from US$ 17.72 billion in 2022 to US$ 26.63 billion by 2030, recording a CAGR of 5.2% during 2022–2030.

Market Insights and Analyst View:

The rapid test kits market forecast can help stakeholders in this marketplace plan their growth strategies. The report includes growth prospects owing to the current rapid test kits market trends and their foreseeable impact during the forecast period.

Rapid tests are simple to use and provide quick results; they are often referred to as rapid diagnostic tests (RDTs). Rapid tests are performed at the point of care, in contrast to the majority of routine tests, which have to be submitted to a lab; moreover, they generate results at the point of care. These kits aid in the identification and monitoring of underlying illnesses in living things. Although rapid test kits serve the primary purpose of initial screening, they prove highly beneficial in situations with scanty resource availability. The prime application of rapid test kits is to diagnose infectious disorders such as COVID-19, HIV, malaria, strep throat, and flu. Thus, factors such as the rising prevalence of genetic and infectious diseases, along with strategic initiatives by manufacturers, contribute to the expansion of the rapid test kits market size. However, uncertainties related to the accuracy of results impede the growth of the market.

Growth Drivers:

Rising Prevalence of Genetic and Infectious Diseases Drives Rapid Test Kits Market

According to an Institute for Health Metrics and Evaluation study, national incidence rates of sickle cell disease were relatively stable during 2000–2021, but total births of babies with this disease increased globally by 13.7%. This surge is primarily due to population growth in various regions, more notably in the Caribbean, and western and central sub-Saharan Africa. The estimate of people suffering from sickle cell disease increased by 41.4% worldwide, reaching 7.74 million in 2021 from 5.46 million in 2000. Sickle SCAN is a rapid test for the identification of sickle cell anemia with high sensitivity and specificity.

RDTs help diagnose malaria by detecting the presence of malarial parasites in human blood. Where access to high-quality microscopy services is limited, radiological diagnosis techniques are used as an alternative for clinical or microscope-based diagnosis. The COVID-19 pandemic had a significant impact on the rapid test kits market. Nearly all diagnostic tests for this disease used real-time PCR for testing people who showed symptoms of SARS-CoV-2 infection. Rapid test kits are nearly ubiquitous, robust, and reliable. Rapid testing techniques that involve the amplification of specific stretches of DNA for genotyping, cloning, and single nucleotide variation analysis are used in most molecular biology labs. Thus, the increasing incidence of genetic and infectious diseases propels the rapid test kits market growth.

Rapid tests are not sent to diagnostic laboratories. Also, the accuracy of fast antigen tests differs among test kits provided by different vendors. For example, the majority of rapid tests designed for HIV diagnosis detect HIV antibodies. The p24 antigen is not detectable by several rapid test kits. However, the Determine HIV Early Detect and Determine HIV-1/2 kits can detect p24 antigen. Particularly while detecting recent infections, the precision of point-of-care diagnostics is not necessarily the same as that of laboratory testing procedures. Moreover, rapid antigen tests for COVID-19 are substantially less accurate when they are used in people with no symptoms of infection, but they function better in people who have been in contact with COVID-19 patients. Thus, limitations related to test accuracy hinder the rapid test kits market growth.

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Rapid Test Kits Market: Strategic Insights

Market Size Value in	US$ 17.72 billion in 2022
Market Size Value by	US$ 26.63 billion by 2030
Growth rate	CAGR of 5.2% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Report Segmentation and Scope:

The rapid test kits market analysis has been carried out by considering the following segments: type, product, technology, application, and end user.

Segmental Analysis:

By type, the rapid test kits market is segmented into rapid antigen testing, rapid antibody testing, and others. The rapid antigen testing segment held the largest market share in 2022. It is anticipated to register the highest CAGR of 6.0% during 2022– 2030. An antigen can cause an immunological reaction upon entering the host body. Any nonhost materials such as chemicals, viruses, bacteria, or toxins can trigger an immunological response in the body. Antigens found in body tissues and cells can also cause immune responses. The mechanism of a rapid antigen test involves detecting such antigens in collected samples. Speedy results and ease of use are the primary benefits of rapid antigen test kits. For instance, the iHealth COVID-19 Antigen Rapid Test is an FDA-authorized, over-the-counter, self-administered test that delivers results in 15 minutes.

By technology, the market is segmented into lateral flow assay, solid phase, agglutination, immunospot assay, and cellular component-based. The lateral flow assay segment held the largest rapid test kits market share in 2022, and it is anticipated to register the highest CAGR of 5.7% during 2022– 2030. A lateral flow assay (LFA) is a paper-based platform embedded in test equipment to detect or quantify analytes in complex mixtures. Visible results are obtained within the window of 5–30 minutes. In hospitals, doctor's offices, and clinical laboratories, LFA-based assays are frequently utilized for the qualitative and quantitative detection of particular antigens, antibodies, and gene/DNA amplification products. LFAs can be used to examine a wide range of biological samples, such as whole blood, serum, plasma, perspiration, saliva, and urine. Lateral flow assays are a valuable and adaptable diagnostic tool for point-of-care settings.

Rapid Test Kits Market, by Technology – 2022 and 2030

Access Data

The rapid test kits market, by product, is divided into over-the-counter rapid testing kit and professional rapid testing kit. The over-the-counter rapid testing kit segment held a larger market share in 2022. It is anticipated to register a higher CAGR of 5.7% during 2022–2030. A large number of rapid home tests are now available in the market, offering fast and precise results. The use of over-the-counter rapid testing kits allows users to easily know the infection status at an early stage, which can help prevent the spread of viral infection to others. Presently, all FDA-approved COVID-19 antigen tests that may be performed at home are permitted for serial testing. Mylab CoviSelf, Genabio COVID-19 Rapid Self-Test Kit, FlowFlex COVID-19 Antigen Home Test, and Boson Rapid SARS-CoV-2 Antigen Test Card are some of the examples of over-the-counter rapid testing kit.

The market, by application, is categorized into blood glucose testing, infectious disease testing, cardiometabolic testing, pregnancy and fertility, and others. The blood glucose testing segment held the largest rapid test kits market share in 2022 and is anticipated to register the highest CAGR of 5.7% during 2022–2030. The quantity of blood glucose, which is the primary source of energy in the human body, is determined via a blood glucose test. Insulin is a naturally occurring hormone that facilitates the uptake of glucose into cells from blood. Many people with diabetes find that blood sugar testing aids in managing their disease as well as preventing complications. Many methods can be employed to measure blood sugar. A continuous glucose monitor (CGM) uses a small sensor to detect blood sugar levels 24/7. Blood glucose monitoring facilitates the identification of trends in blood glucose (sugar) fluctuations resulting from dietary changes, physical activity, medication interactions, and pathological processes such as diabetes mellitus.

The rapid test kits market, by end user, is categorized into hospitals and clinics, diagnostics centers, home care, and others. The hospital and clinics segment held the largest market share in 2022. The home care segment is anticipated to register the highest CAGR of 5.7% during 2022–2030. Hospitals and clinics have access to modernized equipment, which allows staff appointed in these facilities to provide effective and upgraded healthcare services such as diagnostics and disease treatment. The increasing number of hospital admissions, along with the rising prevalence of chronic diseases, fuel the growth of the global rapid test kits market for the hospital segment. Moreover, emerging nations are experiencing high demand generation for advanced hospital settings to address the needs of a huge patient pool and public health concerns.

Regional Analysis:

The geographic scope of the rapid test kits market report includes North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In 2022, North America accounted for the largest market share. The market growth in this region is driven by increasing demand for innovative products from bioanalytical instrument manufacturers. The increasing focus on incorporating advanced diagnostic methods in government-aided and private healthcare facilities promotes the adoption of rapid test kits.

Competitive Landscape and Key Companies:

F. Hoffmann-La Roche Ltd, Becton Dickinson and Co, ARKRAY Inc, Sysmex Partec GmbH, Fujirebio Europe NV, bioMerieux SA, Cepheid, Meril Life Sciences Pvt Ltd, QIAGEN NV, OraSure Technologies Inc, Guangzhou Wondfo Biotech Co Ltd, Denka Co Ltd, Abbott Laboratories, Trinity Biotech Plc, SD Biosensor Inc, Bio-Rad Laboratories Inc, Hologic Inc, DiaSorin SpA, Premier Medical Corp Pvt Ltd, and Beckman Coulter Inc. are among the prominent companies profiled in the rapid test kits market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.

• In June 2021, DiaSorin SpA introduced the LIAISON Murex AntiHEV IgG & IgM test, the first fully automated high-throughput CLIA test for the diagnosis of hepatitis E (HEV). The test was made available on LIAISON platforms in all countries that recognize the CE mark.
• In November 2022, OraSure Technologies launched its InteliSwab COVID-19 Rapid Test, which is available on Amazon's online store in the US. The test is simple and easy to use, as it requires only a swab of the lower nostrils and a swirl of a pre-measured solution.