Market Research Expert

Rapid Medical Diagnostic kits Market is Expected to Witness a Remarkable Boost due to the Growing Prevalence of Diseases

Press Release   •   Jan 05, 2017 07:02 EST

Rapid medical diagnostics are devices used for the detection of viral and bacterial infections. The high occurrence of infectious diseases, renewed occurrences of infection caused by new strains of pathogens, and continuously increasing demand for prevention and management of communicable diseases is driving the global medical diagnostic kits market at an exponential growth rate.

Since its introduction, rapid medical diagnostic kits have been an important part of the medical diagnostics sector and demand for them is continually growing owing to their potential for precise detection of infection and endorsement from end-users.

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Home-Use Application Segment of Rapid Medical Diagnostic Kits Market Spurred by Blood Glucose Testing

The global rapid medical diagnostic kits market is segmented by three perspectives, namely technology, application, and geography. In the application segmentation, the rapid medical diagnostic kits market has the home-use, veterinary, clinical testing, and infectious disease sub-segments. The high incidence of blood glucose testing led to the dominance of the home-use application segment of the rapid medical diagnostic kits in 2012.

The clinical testing application segment is further divided into cholesterol monitoring, fertility and pregnancy testing, infectious disease testing, substance abuse testing, and blood glucose testing. Each of the sub-segments contributes significantly to the market share of the clinical testing application of the rapid medical diagnostic kits market. Home-use also has five sub-divisions, which are cholesterol monitoring, blood glucose monitoring, infectious disease, fertility and pregnancy testing, and substance abuse testing.

Technological Advancement Leads to Quick Turnaround Time for Rapid Medical Diagnostic Kits

On the basis of technology, the global rapid medical diagnostic kits market is divided into flow-through, agglutination assays, solid phase, and lateral flow. The lateral flow sub-segment held the largest share in the technology segmentation of the rapid medical diagnostic kits market on account of availability of a large number of approved rapid medical diagnostic kits devised on this technology. Moreover, these devices also offer better ease of handling and have a fast turnaround time, which is beneficial for home testing.

High Occurrence of Infectious Diseases to Spur Rapid Medical Diagnostic Kits Market in Africa

In the regional segmentation, the rapid medical diagnostic kits market is divided into Asia Pacific, Rest of the World (RoW), Europe, and North America. In the regional segmentation, North America led the global rapid medical diagnostic kits market in 2012, followed by Europe. The region is anticipated to maintain its dominant position in the rapid medical diagnostic kits market till 2019.

The high prevalence of infectious diseases, rising awareness of the availability of rapid medical diagnostic devices, and growing disposable incomes will account for the expected growth of the rapid medical diagnostic kits market in the Asia Pacific region. The infectious diseases prevalent in phenomenally high rates in African countries will account for the growth of the rapid medical diagnostic kits market in the largely undeveloped region.

Patent Rights to Challenge New Entrants in Rapid Medical Diagnostic Kits Market

In the global scenario, the rapid medical diagnostic kits market is highly fragmented due to the presence of a large number of players. The rapid medical diagnostic kits market is predominantly led by established players in the sector that offer proprietary products and have aggressive growth strategies. Patent rights held by the key players are challenging the entry and growth of new players in the rapid medical diagnostic kits market.

The key players operating in the rapid medical diagnostic kits market are Becton Dickinson & Company, Abbott Laboratories, Alere Inc., BioRad Laboratories, Abaxis Inc, MegaCor Diagnostik GmbH, Trinity Biotech plc, F. Hoffmann La Roche, and Zoetis Inc. Some players such as Millipore Corporation are trying to obtain patent approvals to secure a significant market share in the rapid medical diagnostic kits market.

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