Global Rapid Test Kit Market Expected To Register 5.6% CAGR During 2017-2021

Date: 2017-05-18

A Rapid Test Kit is a medical diagnostic test that is quick and easy to perform. RDTs are suitable for preliminary or emergency medical screening and for use in medical facilities with limited resources. They also allow point-of-care testing in primary care for things that formerly only a laboratory test could measure. They provide same-day results within two hours, typically in approximately 20 minutes.

Pregnancy rapid test kits and hCG urine test kits are expected to be the major factors driving the Rapid Test Kit market for the forecast period, owe to the growing population, the pregnancy rapid test kits will continue to witness higher demand than fertility kits, representing over USD 580 million in market value in 2016. According to research, the global Rapid Test Kit market is expected to register 6.6% CAGR During 2017-2021.

Base on application, the hCG urine test kits accounted for the highest market share in terms of test application, representing approximately 40% of revenue in 2016, and is expected to gain the market share over the forecast period. Increasing demand for hCG rapid test is attributed to rising incidence of gynecological disorders and infertility rate across the globe.

Geographically, the North America is expected to dominate the global rapid test kits market over the forecast period, which is considered to expand at a CAGR of 4.6% over 2017-2020. However, Asia Pacific is estimated to be the fastest growing markets among regional markets. Asia Pacific market is expected to witness highest CAGR of 5.9 % during the forecast period.

Global top manufacturers operating in Rapid Test Kit Market are Alere Inc., Quidel Corporation, Prestige Brands Holdings, Inc., Church & Dwight Co., Inc., bioMérieux SA, Geratherm Medical AG, Abbott Laboratories, Procter & Gamble Co., DCC Plc., Swiss Precision Diagnostics GmbH among others.

Global Rapid Test Kit market share by region as following:

Read Full Report: http://www.gosreports.com/global-rapid-test-kit-market-research-report-2017/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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