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Rapid Diagnostics Market Size
- Report ID: GMI5745
- Published Date: May 2023
- Report Format: PDF
Rapid Diagnostics Market Size
Rapid Diagnostics Market size was over USD 37 billion in 2022 and will grow at a 7.6% CAGR between 2023 and 2032.
The increasing prevalence of infectious diseases will drive industry expansion. High prevalence of viral & microbial disease variants and the development of precise diagnostic tests will augment this growth. Hepatitis, influenza disease, dengue, and coronavirus are some of the most prevalent diseases globally. According to the World Health Organization (WHO), in 2021, around USD 354 million people globally were infected with Hepatitis and the rate is increasing at a steady pace. The high risk of infectious diseases will drive the adoption of rapid diagnostic testing. Furthermore, implementation of regulations and safety practices in healthcare settings will expand the customer base for medical gloves and other diagnostic equipment.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Rapid Diagnostics Market Size in 2022: | USD 37.1 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.6% |
| 2032 Value Projection: | USD 79.1 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 280 |
| Tables, Charts & Figures: | 538 |
| Segments covered: | Product, Purchase, Platform, Distribution Channel, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Low accuracy of results of rapid diagnostics may hinder market progress. Lack of proficiency to perform the test resulting in misdiagnosis may lead to serious damage. Inaccuracy in rapid diagnostic testing can lead to inappropriate treatment resulting in certain other complications. However, several market players are emphasizing on taking up innovative approaches to attain highly accurate rapid diagnostic testing in order to minimize the disadvantages associated with rapid diagnostic tests.
Frequently Asked Questions (FAQ) :
Rapid Diagnostics Market Scope
