Rapid Testing Kits Market Size

Rapid Tests Market size was valued at USD 1.41 billion in 2023 and is set to exceed USD 4.07 billion by 2036, expanding at over 8.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of rapid tests is evaluated at USD 1.51 billion.

The global market refers to quick medical diagnostic test kits. These kits are suitable for preliminary or emergency medical screening and application in medical facilities with restricted resources. The kit includes tests based on agglutination, immuno-chromatographic, immuno-dot, and/or immuno-filtration techniques. They provide same-day results, within 2 hours. Due to rapid results and ease of handling provided by these test kits, it is possible to impart timely treatment and they are performed without the use of automated diagnostic equipment.

The global outbreak of the COVID 19 pandemic has imparted huge demand for “Antibody rapid tests” to test and isolate the infected patients. The escalating numbers of patients in hospitals encourage the concerned governments to get as many testing kits as they can in the shortest possible time to contain the pandemic.