Lewes, DE -- (SBWIRE) -- 03/19/2018 -- Report forecast the global rapid diagnostics market to grow at a CAGR of 7.56% during the period 2018-2022.

Rapid diagnostic products are used for preliminary and emergency medical screening. These products are developed for medical facilities with low skilled resources.

The report covers the present scenario and the growth prospects of the global rapid diagnostics market for 2018-2022. To calculate the market size, the report considers the revenue generated from the rapid diagnostics.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the major drivers for this market is Increasing incidence of chronic and infectious diseases. Various chronic diseases such as heart diseases, diabetes, stroke, cancers, obesity, and kidney diseases are increasing across the globe which resulted in the greater demand for diagnostic procedures like rapid diagnostics and technologically advanced treatment options. These chronic diseases can be easily diagnosed using point of care (POC) products. According to CDC in 2012, approximately 117 million individuals in the US had one or more chronic health conditions and one in four adults in the US suffer from two or more chronic diseases.

Further, the report states that one of the major factors hindering the growth of this market is High cost of rapid diagnostic products. The rapid diagnostics products such as analyzers, assays and frequent usage of the consumables and reagents are associated with higher costs which are incurred by the end user such as hospitals, clinics, diagnostics laboratories. Moreover, POC diagnostics test products have faster turnaround time (TAT) which leads to high cost however, the testing products other than POC cost are comparatively lower. In 2013, NIH conducted comparison study between cost of rapid molecular tests and conventional diagnostics for the detection of tuberculosis in South Africa.

Global Rapid Diagnostics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global rapid diagnostics market: Abbott, BD, bioMérieux, Danaher, F. Hoffmann -La Roche, and Siemens Healthcare.

Market driver
- Increasing incidence of chronic and infectious diseases
- For a full, detailed list, view our report

Market challenge
- High cost of rapid diagnostic products
- For a full, detailed list, view our report

Market trend
- Growing presence of OEMs
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?

Spanning over 137 pages "Global Rapid Diagnostics Market 2018 - 2022" report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market Sizing, Five Forces Analysis, Market Segmentation By Application, Customer Landscape, Market Segmentation By End-User, Regional Landscape, Decision Framework, Drivers And Challenges, Market Trends, Vendor Landscape, Vendor Analysis, Appendix.

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