Rapid Diagnostic Kits Market for Indian Ocean Region Countries Worth $1.75 Billion by 2029
According to this latest publication from Meticulous Research®, the rapid diagnostics kits market for Indian Ocean region countries is expected to register a CAGR of 1.6% from 2022 to 2029 to reach $1.75 billion by 2029. The growth of this market is driven by the growing demand for PoC diagnostics, the high prevalence of chronic diseases coupled with the increasing geriatric population, the high prevalence of infectious diseases, the increasing need for rapid decision-making, and the outbreak of the COVID-19 pandemic.
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The Rapid Diagnostics Kits Market for Indian Ocean Region Countries is segmented by Product (Professional Kits and OTC Kits), Platform (Immunoassays, Molecular Detection Tests, and Other Rapid Diagnostic Platforms), Application (Blood Glucose Testing, Cardiac Metabolism Testing, Infectious Diseases Testing, Pregnancy & Fertility Testing, Hematology Testing, Tumor/Cancer Markers Testing, Urinalysis, Cholesterol Testing, and Other Tests), End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care/Self-testing, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their key growth strategies in the market.
Based on product, in 2022, the professional kits segment is expected to account for the larger share of the rapid diagnostic kits market in Indian Ocean region countries. The large market share of this segment is attributed to the higher preference for PoC testing, the high prevalence of chronic diseases, and technological advancements in rapid diagnostics, supporting the high adoption of professional kits.
Based on platform, in 2022, the immunoassays segment is expected to account for the largest share of the rapid diagnostic kits market in Indian Ocean region countries. The large market share of this segment is mainly attributed to the high prevalence of chronic and infectious diseases, technological innovations, coupled with the advantages offered by the rapid immunoassay tests, such as cost-effectiveness and at-home testing.
Based on application, in 2022, the infectious diseases testing segment is expected to account for the largest share of the rapid diagnostic kits market for Indian Ocean region countries. Infectious diseases are transmissible or communicable illnesses that can spread quickly and become epidemics. It is crucial to quickly diagnose initial infections and prevent further spread through in-vitro diagnosis. The high prevalence of infectious diseases in the countries of the Indian Ocean region is a key factor in the large share of the segment. For instance, around 2.4 million people were infected with HIV in India in 2021.
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Based on end user, in 2022, the hospitals & clinics segment is expected to account for the largest share of the rapid diagnostic kits market for Indian Ocean region countries. Factors attributing to this segment’s largest share include a high preference for hospitals & clinics for primary care across the countries in the Indian Ocean region.
This research report provides a comprehensive analysis of the rapid diagnostic kits market in France, India, Australia, Singapore, Indonesia, Madagascar, Mauritius, Réunion, Comoros, Mayotte, and Seychelles. India is expected to grow with the fastest growth over the forecast period. Factors contributing to the growth include the rising hospitalization due to various diseases, the increasing geriatric population, and increasing healthcare access & expenditure.
Key companies operating in the rapid diagnostic kits market for Indian Ocean region countries are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), ACON Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), bioMérieux S.A. (France), Alfa Scientific Designs, Inc. (U.S.), BTNX Inc. (Canada), Meridian Bioscience, Inc. (U.S.), and Trinity Biotech plc (Ireland).
To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/rapid-diagnostics-kits-market-for-indian-ocean-region-countries-5418