Global Rapid Test Market Size And Forecast To 2025
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The global Rapid Test market was valued at USD 12.36 billion in 2016 and is projected to reach USD 22.47 billion by 2025, growing at a CAGR of 7.5% from 2017 to 2025.
The demand for rapid test is expected to remain high over the forecast period owing to growing instances of food contamination globally. The rising number of food recalls is expected to boost the consumption of these services. India, Brazil, Argentina and China are expected to be rising future markets.
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Growing number of food related illness
1.2 Rise in demand for faster and reliable results
2. Market Restraints
2.1 Lack of food control infrastructure & resources in developing countries
2.2 Complexity in testing techniques
Market Segmentation:
The global Rapid Test market is segmented on the contaminant, technology, food tested, and region.
1. By Contaminant:
1.1 Meat Specification
1.2 Pathogens
1.3 Pesticides
1.4 Allergens
1.5 Mycotoxins
1.6 Heavy Materials
1.7 GMOS
1.8 Others
2. By Technology:
2.1 PCR Based
2.2 Immunoassay Based
2.3 Chromatography Based
2.4 Spectroscopy Based
3. By Food Tested:
3.1 Confectionery & Bakery Products
3.2 Vegetables and Fruits
3.3 Seafood
3.4 Meat
3.5 Dairy and Milk Products
3.6 Beverages
3.7 Others
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. SGS
2. Intertek
3. OMIC USA
4. Eurofins
5. ALS Limited
6. TUV SUD
7. Romer Labs
8. Genetic ID
9. Bureau Veritas
10. Merieux Nutrisciences
11. Asurequality
12. Microbac Laboratories
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY :
Research study on the Rapid Test market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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