Dec 30, 2021 (AmericaNewsHour) -- Research Nester published a report titled "Rapid Testing Kits Market: Global Demand Analysis & Opportunity Outlook 2028" which delivers a detailed overview of the rapid testing kits market in terms of market segmentation by product type, by application, by end-user, and by region.
The global rapid testing kits market speak of rapid medical diagnostic test kits, appropriate for preliminary or emergency medical inspection, and demand in medical provisions with limited resources. They provide results in 2 hours. Attributable to fast results and ease of use provided by these kits, it is possible to offer well-timed treatment.
However, the likelihood of faulty results, stringent& time-consuming approval policies and a hesitation to shift from existing diagnostic practices are anticipated to restrain the market growth.
The rapid testing kits market is estimated to attain a notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product type, application, end-user, and region. The global need for antibody testing kits to contain the COVID 19 pandemic has created significant growth opportunities in the global rapid testing market owing to soaring confirmed cases that are going beyond control and there is a major shortage of these test kits all across the globe. Many private companies have begun manufacturing rapid test kits to sustain the massive demand.
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There have been many instances where the results were false-negative and false-positive.
The Indian Council of Medical Research (ICMR) on April 27, 2020, directed states to stop the usage of rapid antibody test kits that were procured from China-based Guangzhou Wondfo Biotech and Zhuhai Livzon Diagnostics after they showed wide variations in results.
Additionally, strict & time-consuming approval policies, and a hesitation to change existing diagnostic practices are anticipated to restrain the market growth.
This report also provides the existing competitive scenario of some of the key players of the rapid testing kits which includes company profiling of BioMedomics, Altona Diagnostics, Abbott Laboratories /zigman2/quotes/203724446/composite ABT +0.71% , BioMerieux (epa:BIM), Roche Diagnostics (swx:RO), Meridian Bioscience /zigman2/quotes/202928219/composite VIVO -1.15% , Cepheid, MyLab, Qiagen /zigman2/quotes/204869908/composite QGEN +1.84% , AccuBioTech. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
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