Rapid Test Kit Market to Reach USD 3.70 Billion by 2027 | Abbott Laboratories, Acumen Research Laboratories, BioMedomics

: New York, United States, 14-July-2020, (Via WiredRelease), (Reports and Data) – 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. Rapid test kits are in vitro diagnostics methods implemented individually or in a small series that involve manual procedures and have been developed to provide a rapid result.

For the purpose testing COVID-19, rapid test kit may require about 10 to 30 minutes to give a result as compared to about hours of molecular tests performed in large series, or it might take even more time samples have to be transported to a remotely located testing laboratory. The rapid tests for COVID-19 are fairly simple to perform and infer and hence need limited test operator training and may be used either for usage in hospital laboratories or close to the point-of-care.

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The COVID-19 pandemic is affecting the worldwide population in radical ways. In several nations, geriatric people are facing the maximum dangers and challenges in dire situation. Even though people of all age groups are at risk of getting infected by COVID-19, elderly people face a substantial risk of getting severely ill in the event of contracting COVID-19, owing to physiological changes that follow with aging and probable underlying health conditions. More than 95.0% of deaths owing to the disease occurred in people aged than 60 years. Over 50.0% of all casualties involved people aged 80 years or older. It has been found that 8 out of 10 fatalities are happening in individuals with no less than one comorbidity, especially in those with hypertension, cardiovascular disease, and diabetes, as well as with other chronic underlying conditions.

Key participants include

Abbott Laboratories, Acumen Research Laboratories, BioMedomics, Biolidics, LabCorp, ThermoFisher, CTK Biotech, Biomaxima, Beijing Tigsun Diagnostics Co. Ltd., and Getein Biotech, among others.

For the purpose of this report, Reports and Data have segmented into the global Rapid Test Kit market on the basis of type, propellants, application, and region:

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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Regional Outlook (Revenue, USD Million; 2017-2027)

North America S Europe K France Asia Pacific China India Japan MEA Latin America Brazil

Key insights of the report:

The report delivers key statistics on the current market status of the Rapid Test Kit manufacturers and is a reliable source of guidance and direction for the companies and individuals interested in the industry. The report delivers an overview of the industry, including the basic definition, applications, the latest manufacturing technology, and others. The report comprises of the company profile, product specifications, production capacity, production value, and market shares for the key competitors. The market is further divided by company, by country, and by application/type for the competitive landscape analysis.

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