Rapid tests are referred as rapid diagnostic tests, suitable for emergency or preliminary screening, and used at medical facilities with limited resources or at home care settings. Rapid tests are low-cost and simple to operate, work in a short period of time, and are stable at high temperatures. These tests are also used as point-of-care testing in primary care and results are delivered the same day, typically within one hour. In case of potential threat of infectious diseases, initial screening is done through rapid tests, which are easier to perform and results are delivered within minutes. \

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The rapid tests market is driven by technological advancements as well as patient preference for the tests. Manufacturers are making continuous progress, in terms of research and development, to create products with newer, advanced technologies. Furthermore, increase in prevalence of infectious diseases in developing countries, rise in incidence of lifestyle-related diseases such as diabetes, and surge in use of home-based rapid tests are stimulating the demand for rapid tests across the globe. Growing prevalence of infectious diseases in developing countries, such as China, India, Brazil, and South Africa is likely create lucrative opportunities for the rapid tests market during the forecast period. Rapid tests provide instant results and majority of people depend on these tests for early diagnosis of diseases, which help them in opting for timely and better treatment options. Clinical Infectious Disease division of Oxford Journals stated that every year thousands of adults and adolescents die or are hospitalized due to diseases that could be prevented by vaccination. The World Health Organization has recommended the use of rapid diagnostic tests to screen multi drug resistance in tuberculosis (TB) patients.

The global rapid tests market can be segmented based on type of product, application, end-user, and geography. Based on product type, the market can be divided into over-the-counter rapid tests products and professional rapid tests products. In terms of end-user, the global rapid tests market can be classified into hospitals, clinics, diagnostic laboratories, and home care. Based on application, the market can be segmented onto infectious diseases, glucose monitoring, cardiology, pregnancy & fertility, toxicology, and others. The infectious diseases testing segment is expected grow rapidly during the forecast period. Increase in prevalence of life-threating infectious diseases, such as, HIV/AIDS, swine flu, and Ebola is likely to drive the infectious disease testing segment in the next few years.

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In terms of geography, the global rapid tests market can be categorized into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is likely to be a major market for rapid tests, in terms of both revenue and volume, during the forecast period. Prevalence of chronic disease, changes in lifestyle, and growing adoption of early disease diagnostics are likely to drive the rapid tests market in the U.S. in the near future. The rapid tests market in Asia Pacific is expected to grow significantly during the forecast period. Increase in prevalence of infectious diseases, favorable health care insurance coverage, and rapid population growth are projected to drive the rapid tests market in the region during the forecast period.

Key players operating in the global rapid tests market include Alere Inc. (Abbott Laboratories), Bio-rad Laboratories, Inc., Cepheid, Inc., Becton Dickinson and Company, Roche Diagnostics. Quidel Corporation, Hologic, Inc., Akers Biosciences, Inc., OraSure Technologies, Inc., and Meridian Bioscience, Inc.

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