Rapid Test Kit Market

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Rapid Test Kit Market For COVID-19 Market To
Reach USD 3.70 Billion By 2027
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Market Size USD 20.22 billion in 2020, Market
Growth - CAGR of -20.9, Market Trends
Increasing RD activities to cater to growing
demand at a lower price
Market Summary
The global rapid test kit market for COVID-19 is
expected to reach USD 3.70 Billion by 2027,
according to a new report by Reports and Data.
The initial diagnosis of diseases, as well as
accuracy, play an instrumental role in the
treatment of patients.

• Further key findings from the report suggest
• By test type, the rapid antigen test is likely to
  hold substantial market share in 2020 and is
  expected to grow at a rate of -21.1 in the
  forecast period. The basis rapid antigen test is
  the particular binding of an antigen
  (glycoprotein or protein) to an antibody. Antigen
  assays are usually more cost-effective as
  compared to either molecular or culture
  techniques nevertheless, they do not increase
  their target as culture increases communicable
  organisms or as polymerase chain reaction
  amplifies nucleic acid. Therefore, this test is
  frequently less sensitive as compared to other
  methods.
• The market in the Asia Pacific region is
  estimated to grow at the fastest rate of -20.0
  in the forecast period, attributed to the
  presence of a large population in the countries
  such as India in the region pushing the
  governments to order rapid test kits for COVID-19
  in huge quantity to contain the spread of the
  disease.

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Market Summary
Key Players
Abbott Laboratories, Acumen Research
Laboratories, BioMedomics, Biolidics, LabCorp,
ThermoFisher, CTK Biotech, Biomaxima, Beijing
Tigsun Diagnostics Co. Ltd., and Getein Biotech,
among others.
Segmentation
Test Type Outlook (Revenue, USD Million
2020-2027) Rapid Antigen Test Rapid Antibody
Test Others End-Users Outlook (Revenue, USD
Million 2020-2027) Hospitals
Clinics Diagnostics Laboratory Home Care Others
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Market Summary
Regional Outlook for Rapid Test Kit Market
analyses the following geographies North
America (United States, Canada, and
Mexico) Europe (Germany, France, UK, Russia, and
Italy) Asia-Pacific (China, Japan, Korea, India,
and Southeast Asia) South America (Brazil,
Argentina, Colombia, etc.) Middle East and
Africa (Saudi Arabia, UAE, Egypt, Nigeria, and
South Africa)
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The report emphasizes the following key
questions
Q.1.What are the most lucrative and promising
growth prospects for the market? Q.2.Which
sectors are expected to deliver a high growth
rate and which industry aspects come into play in
this advancement? Q.3.Which geographies are
estimated to exhibit the highest growth and the
underlying causes? Q.4.Which factors are
impacting the future of the market and what are
the driving factors? Q.5.What are the hurdles
and challenges curtailing the industrys growth
in the forecast period?
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