Rapid Tests Market to Hit USD 3.08 Billion by 2032, Driven by Rising Demand for Quick Diagnostics | SNS Insider

SNS Insider forecasts a robust CAGR of 8.64% from 2024 to 2032, as point-of-care testing accelerates across clinical and home settings.

Austin, April 10, 2025 (GLOBE NEWSWIRE) — According to the latest report by SNS Insider, the Rapid Tests Market was valued at USD 1.46 billion in 2023 and is projected to reach USD 3.08 billion by 2032, growing at a CAGR of 8.64% during the forecast period 2024–2032.

The Rapid Tests Market is experiencing robust growth, fueled by the increasing need for quick and accurate diagnostic solutions, advancements in testing technologies, and the rising prevalence of infectious diseases.

Market Analysis

Rapid tests provide immediate results, enabling timely medical decisions and improving patient outcomes. The market is driven by the rising incidence of infectious diseases, increasing adoption of point-of-care (POC) testing, and government initiatives to enhance diagnostic capabilities. In 2023, the U.S. held a dominant 34% share of the global rapid tests market, attributed to its advanced healthcare infrastructure, high healthcare expenditure, and strong government support for rapid diagnostic solutions. According to the Centers for Disease Control and Prevention (CDC), over 200 million rapid tests were conducted in the U.S. in 2023, highlighting the country’s reliance on these diagnostics for disease management. The U.S. government allocated USD 650 million in 2023 to expand rapid testing infrastructure in response to rising respiratory infections.

Get a Sample Report of Rapid Tests Market@ https://www.snsinsider.com/sample-request/5793

Major Players Analysis Listed in this Report are:

• QuidelOrtho Corporation – Sofia, QuickVue, AmpliVue
• OraSure Technologies, Inc. – OraQuick
• Bio-Rad Laboratories, Inc. – BioPlex 2200, D-10 Hemoglobin Testing System
• Hologic, Inc. – Aptima, Panther Fusion
• Meridian Bioscience – Illumigene, Meridian
• Akers Biosciences, Inc. – BreathScan, PIFA Heparin/PF4
• Romer Labs – AgraStrip, RapidChek
• Eurofins – EmpowerDX, Transplant Genomics
• Intertek – Intertek COVID-19 PCR Testing
• Bureau Veritas – BV COVID-19 Testing Solutions
• TUV SUD – TÜV SÜD Testing Services
• ALS Limited – ALS Food and Pharmaceutical Testing
• Microbac Laboratories – Microbac COVID-19 Testing
• AsureQuality – AsureQuality Food Testing
• Genetic ID – Genetic ID DNA Testing
• OMIC USA – OMIC Allergen Testing

Rapid Tests Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 1.46 billion
Market Size by 2032	US$ 3.08 billion
CAGR	CAGR of 8.64% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Product

The Consumables segment, accounting for 69.08% of revenue in 2023, incorporates test kits, reagents, and cassettes needed for fast diagnostics. This high demand is fuelled by regular usage in hospitals, clinics, and home-testing environments. The increase in infectious diseases and the trend toward decentralized testing have spurred sales of consumables. With increasing diagnostic demands, key players are concentrating on the development of high-sensitivity, cost-effective consumables to address such needs. Innovations, such as multiplex test kits that can detect several pathogens at once, are taking hold. More government procurement for public health programs also is a driver in market expansion. The segment’s dominance is anticipated to continue owing to recurring demand and advancements in point-of-care (POC) testing technologies.

By Technology

The Immunoassay segment, contributing 53.45% of revenue in 2023, remains dominant due to its high accuracy, speed, and cost-effectiveness. Techniques such as lateral flow assays (LFAs) and enzyme-linked immunosorbent assays (ELISAs) are widely used for infectious diseases, pregnancy tests, and drug abuse screening. The Emerging trends include digital immunoassays and fluorescent-based rapid tests, enhancing sensitivity and reducing false negatives. The segment benefits from automation in diagnostics and increasing demand for home-based testing kits. With ongoing R&D, immunoassays are expected to maintain leadership, especially in respiratory and sexually transmitted infection (STI) testing.

By Application

The Upper Respiratory Tract Infections (URTIs) segment, capturing 59.7% of market share in 2023, dominates due to the high prevalence of flu, COVID-19, and RSV. The pandemic underscored the need for rapid, multiplex testing to differentiate between respiratory viruses. Governments and healthcare providers are investing in high-throughput rapid tests to manage seasonal outbreaks. The demand for at-home COVID-19 tests remains strong, while influenza and RSV testing is growing post-pandemic. Future growth will be driven by combination tests that detect multiple pathogens in a single assay. The segment’s expansion is further supported by increasing awareness of early diagnosis and rising healthcare expenditure in developing nations.

By End-Use

Hospitals & Clinics, which accounted for 42.9% of revenue in 2023, dominate within the segment as they experience a higher inflow of patients and require immediate diagnostics. Rapid tests are vital in emergency departments, ICUs, and outpatient clinics for speedy decision-making. POCT devices used in the hospital have improved efficiency by reducing turnaround times. Furthermore, government mandates for infectious disease screening in healthcare settings increase the demand. Increasing diagnostic infrastructure in emerging economies is driving segment growth even further. Market growth is also supported by the emergence of telemedicine and decentralized testing models. With increasing investments in automated rapid test systems, hospitals and clinics will remain the largest end-users.

Need Any Customization Research on Rapid Tests Market, Enquire Now@ https://www.snsinsider.com/enquiry/5793

Rapid Tests Market Segmentation

By Product

• Instruments
• Consumables
• Others

By Technology

• Immunoassay
• Molecular diagnostics
• Other technologies

By Application

• Upper respiratory tract infections
  • Influenza and Parainfluenza virus
  • Streptococcus
  • Respiratory syncytial virus
• Antibiotic-resistant infections
• Sepsis
  • Bacterial Sepsis
  • Fungal Sepsis
  • Others

By End-Use

• Hospitals & clinics
• Laboratories
• At-home testing and others

Regional Analysis

North America, with its advanced healthcare infrastructure, high R&D investments, and strong regulatory support, dominates the market. The U.S. has the largest its agencies, like the FDA and the CDC, which are working to promote the adoption of rapid testing. Government initiatives, like expanding financing for rapid testing with a $650 million investment in 2023, fuel market growth. The presence of major diagnostic companies such as Abbott, Roche, and Siemens accelerates innovation. The high prevalence of respiratory diseases, STIs, and chronic conditions drives the demand. Shift toward home-based testing and retail diagnostics also fires growth. Europe acquired a considerable share, attributable to strict healthcare regulations and strong diagnostic structures. Germany, France, and the UK are among the leaders in testing rates and government-supported surveillance programs. The EU’s In Vitro Diagnostic Regulation (IVDR) ensures quality standards, increasing consumer confidence. The demand is further peddled by the increasing aging populations and infectious disease outbreaks.

The APAC region market is growing significantly, due to the factors such as increasing healthcare investments, improving diagnostic infrastructure, and increasing disease burden. Such as China, India, and Japan are significant growth drivers, while government initiatives are improving testing accessibility. The early diagnosis post-pandemic and the upsurge in medical tourism support market growth. Low-cost manufacturing hubs in India and China also attract global players, making APAC a key production and consumption center for rapid tests.

Recent Developments

• In 2024, Abbott Laboratories launched a new rapid antigen test for multiplex detection of flu A/B and RSV, delivering results in 15 minutes.

Buy a Single-User PDF of Rapid Tests Market Analysis & Outlook Report 2024-2032@ https://www.snsinsider.com/checkout/5793

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Rapid Test Utilization Trends (2023), by Region

5.2 Price Trends and Cost Analysis (2020-2032)

5.3 Innovation and R&D Trends in Rapid Testing (2023-2032)

6. Competitive Landscape

7. Rapid Tests Market by Product

8. Rapid Tests Market by Technology

9. Rapid Tests Market by Application

10. Rapid Tests Market by End-Use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

Access Complete Report Details of Rapid Tests Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/reports/rapid-tests-market-5793

[For more information or need any customization research mail us at info@snsinsider.com]

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.