Rapid tests market projected to reach $3.08 billion by 2032, driven by rising demand.

From GlobeNewswire: 2025-04-10 09:10:00

The Rapid Tests Market was valued at USD 1.46 billion in 2023, projected to reach USD 3.08 billion by 2032, growing at a CAGR of 8.64%. The U.S. held a dominant 34% share in 2023 due to advanced healthcare infrastructure and government support for rapid diagnostic solutions, conducting over 200 million rapid tests.

Quidel, Ortho Corporation, OraSure Technologies, Bio-Rad Laboratories, and Hologic are key players in the market. The Consumables segment accounted for 69.08% of revenue in 2023, driven by rising infectious diseases and demand for decentralized testing. The Immunoassay segment contributed 53.45% of revenue, benefitting from automation and home-based testing kits.

The Upper Respiratory Tract Infections segment captured 59.7% market share in 2023, driven by the high prevalence of flu, COVID-19, and RSV. Hospitals & Clinics dominated the End-Use segment with 42.9% revenue share in 2023, due to immediate diagnostics needs. North America leads the market with advanced healthcare infrastructure and strong regulatory support. Government investments of $650 million in rapid testing drive market growth, supported by major players like Abbott and Roche. High demand for diagnostics due to respiratory diseases, STIs, and chronic conditions. Europe leads with strong regulations and government programs. APAC sees significant growth with China, India, and Japan as key drivers. Abbott launches new rapid antigen test for flu A/B and RSV.

The market is propelled by a shift towards home-based testing and retail diagnostics. Europe takes a significant share, led by Germany, France, and the UK. The APAC region sees growth due to increasing healthcare investments and disease burden. Abbott Laboratories’ new rapid antigen test expands testing accessibility.

Abbott Laboratories’ new rapid antigen test for flu A/B and RSV delivers results in 15 minutes. Europe dominates the market with strong regulations and government programs. APAC sees significant growth with China, India, and Japan as key drivers. The market is driven by a shift towards home-based testing and retail diagnostics.



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