Rapid medical diagnostic kits market to reach USD 26B by 2034

The global rapid medical diagnostic kit market is approximated at a size of USD 17.6 billion in 2024 and is forecasted to increase to USD 26 billion by the end of 2034, according to Fact.MR.

Increasing elderly population across the world who are more prone to chronic disorders such as diabetes and cardiac-related diseases are substantially contributing to the demand growth for rapid medical diagnostic technologies. Rising prevalence of contagious diseases is further increasing the need for rapid medical diagnostic kits.

Integration of advanced technologies such as artificial intelligence, machine learning, and big data analytics are enhancing the features of rapid medical diagnostic solutions. These advancements are increasing the efficiency and reliability of diagnostic kits and driving up their sales. Manufacturers of diagnostic solutions are also focusing on innovations in molecular, point-of-care, predictive, and critical diagnostics. Introduction of real-time polymerase chain reaction (RT-PCR) kits is one of the significant developments in the field of diagnosis.

North America is a hub for research and development and is constantly developing advanced diagnostic and treatment technologies. Presence of established companies in the region is further contributing to its dominance in this space. Growing investments in the development of advanced healthcare infrastructures in the Asia Pacific region by present governments are expected to boost the demand for rapid medical diagnostic kits and technologies. Fact.MR