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  • Rapid Test Kits Market Analysis | 2022-2027

    Rapid Test Kits Market Analysis | 2022-2027

    Rapid Test Kits Market Analysis | 2022-2027
    Report code - SR2155 Published On : Oct,2022 No. of Pages: 85
    The USA’s Rapid Test Kits Market Size, Share, Trend, Forecast, Competitive Analysis, See more...

    Market Highlights

    Rapid tests, also known as rapid diagnostic tests or RDTs, are easy-to-use tests that yield results in 20 minutes or less. A rapid antigen test detects the presence of specific proteins on the virus's surface, whereas a rapid antibody test measures the expression of antibodies that may indicate prior pathogen exposure. Many diseases now have point-of-care (POC) tests that are inexpensive, simple to use, reliable, and widely used. Infectious disease testing accounts for approximately 37% of the POC market. The scope of this report (in infections) is limited to respiratory and sexually transmitted infections, and its scope (in testing) is limited to rapid antigen-antibody tests.

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    Covid-19 Impact

    Flu/Influenza testing led the diagnostics market before 2020 (before Sars COV-2). About 40 to 44 million rapid flu tests were conducted in 2019. When COVID-19 emerged in the United States, flu testing virtually disappeared from the market. As both of these diseases cause similar symptoms, COVID-19 tests were used to replace all of the supposed flu tests. Similar to flu screening, screening for other infectious diseases was reduced due to fewer in-person visits to health clinics.

    The USA was comparatively slower than Europe in approving rapid tests for Sars Cov-2. Most of the tests performed for the detection of the Sars-Cov-2 virus in 2020 were professional/laboratory tests. The market for rapid tests grew significantly in 2021. The diagnostics industry developed and manufactured millions of COVID-19 antigen tests. With the easy availability of over-the-counter rapid test kits, the market soared in the second year of COVID-19. The rapid test kits market has been expanding more than any other, in recent two years, and until herd immunity is reached, this trend will continue. Testing for other infectious diseases too is likely to reach back to its pre-pandemic levels in the coming years.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Infection Type

    Respiratory Infection [SARS Cov-2, Influenza, RSV, Group A Streptococcus, and Adenovirus] and Sexually Transmitted Infection [HIV, Syphilis, Chlamydia, Candida, and Hepatitis C]

    Respiratory Infection, more particularly SARS Cov-2 holds the market dominance.

    End-User Type

    OTC & POC and Hospitals & Laboratories

    Over-the-counter (OTC) & Point-of-care (POC) are likely to witness the highest growth.

     

    By Infection Type

    The USA’s rapid test kits market is segmented into respiratory infection and sexually transmitted infection. Respiratory infection is expected to remain the key demand generator of the market during the forecast period, owing to the outbreaks of diseases, mutations, emerging pathogens, and their growing resistance (e.g., to antibiotics). Among the innovations introduced by the COVID-19 pandemic were non-prescription "over-the-counter" infectious disease tests. As the world recovers from the COVID-19 pandemic, these innovative solutions will usher in a new era of infectious disease tests that go beyond the detection of SARS-CoV-2.

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    By End-User Type

    The market is segmented into OTC & POC and hospitals & laboratories. OTC & POC test kits are expected to be the larger and faster-growing segment during the forecast period. SARS-CoV-2 rapid antigen tests are driving growth in infectious disease testing, which was previously dominated by central labs. Furthermore, POC tests provide patients and clinicians with immediate and accurate results. Many diseases now have point-of-care (POC) tests that are inexpensive, simple to use, reliable, and widely used.

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    Key Players

    The market is dominated by a few companies that also assert dominance in the global rapid test kits market. Most of the major players compete in some of the governing factors including price, product offerings, market presence, government contracts, etc. The following are the key players in the USA’s rapid test kits market. Most of the major players are providing rapid test kits for Sars Cov-2 detection.

    • Abbott Laboratories
    • QuidelOrtho Corporation
    • Becton, Dickinson, and Company
    • LumiraDx
    • QIAGEN
    • Meridian Bioscience Inc.
    • Sekisui Diagnostics, LLC
    • OraSure Technologies
    • Chembio Diagnostics, Inc.
    • Diagnostics Direct, LLC 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s USA's rapid test kit market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in the USA and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of The USA’s Rapid Test Kits Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Recent Developments

    Recent Product Developments: Seasonal flu had a huge market for rapid test kit makers before the pandemic; however, because the symptoms for both infections are similar, some test makers are focusing on combining both individual tests into one. This way they can manufacture new kits on their old production line.  Combining two or more tests in a single cartridge also allows patients and laboratories to receive multiple test results from a single sample.

    • In October 2020, QuidelOrtho Corporation launched the first rapid antigen ‘ABC test’, a combination diagnostic assay for influenza A+B and COVID-19.
    • Chembio’s ‘DPP HIV-Syphilis System’ received FDA approval in October 2020, becoming the first rapid test approved in the USA to aid in the diagnosis of both HIV and syphilis, from a single patient sample.
    • In March 2021, BD (Becton, Dickinson, and Company) launched its combination rapid antigen test that can detect SARS-CoV-2 and influenza A+B in a single test.

    Recent Market JVs and Acquisitions: Major companies in the USA’s rapid test kits market are performing mergers & acquisitions to quickly gain the leading position and tap growing opportunities in this rapidly expanding market. For instance.

    • In October 2017, Abbott Laboratories acquired the diagnostic giant Alere Inc. for US$ 5.3 billion. The move established the former as a global leader in point-of-care testing.
    • In March 2022, Quidel Corporation acquired Ortho Clinical Diagnostics, one of the world’s largest in vitro diagnostics companies.

    A Bird's Eye View of the Market

    Rapid tests, also known as rapid diagnostic tests or RDTs, are easy-to-use tests that yield results in 20 minutes or less. A rapid antigen test detects the presence of specific proteins on the virus's surface, whereas a rapid antibody test measures the expression of antibodies that may indicate prior pathogen exposure.

    Abbott Laboratories, QuidelOrtho Corporation, Becton, Dickinson and Company, LumiraDx, QIAGEN, Meridian Bioscience Inc., Sekisui Diagnostics, LLC, OraSure Technologies, Chembio Diagnostics, Inc., and Diagnostics Direct, LLC are the leading players in the USAs rapid test kits market.

    Respiratory infection is estimated to remain dominant in the market during the forecast period owing to outbreaks of diseases, mutations, emerging pathogens, and their growing resistance (e.g., to antibiotics). Among respiratory infections, SARS Cov-2 is the biggest one in terms of demand for rapid test kits.

    The OTC & POC end-user type is estimated to remain dominant in the market during the forecast period. These tests are not only reliable, inexpensive, and simple to use, but they also produce results quickly.

    The market is studied from 2016-2027.