Global Rapid Test Market: Overview
“The global Rapid Test Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Rapid test is used for faster and reliable results to ensure the food safety. Various contaminants such as pathogens, veterinary drugs, processing induced chemicals, etc. can cause serious illness and infectious diseases. The technologies used for rapid test are immunoassay-based, chromatography-based, etc.
Global Rapid Test Market: Dynamics
Growing demand for rapid test to test food products owing to increasing foodborne illness and infectious diseases is a major factor expected to fuel growth of the target market in years to come. In addition, rapid test is used to eliminate the risk of bacterial or microbial contamination caused by pathogens, GMOs, meat speciation, allergens, etc. and maintain the quality of product.
Increasing demand for rapid test technologies owing to implementation of stringent food safety regulations is another factor anticipated to drive growth of the global rapid test market. Furthermore, increasing food trade across the globe, coupled with rising demand for processed food and complexity of food supply chain, and increasing government investment in various countries for food safety are among the other factors expected to fuel growth of the rapid test market in the next 10 years.
However, high cost of equipment which in turn increase the cost of testing. This is a major factor that may hamper growth of the rapid test market. Additionally, lack of food control systems in developing countries is another factor expected to restrain growth of the target market.
Increasing R&D and technological advancements, and adoption of rapid test in developed as well as developing countries are factors expected to offer revenue opportunities for manufacturers operating in the target market.
Global Rapid Test Market: Segment Analysis
Among the contaminant segments, the pathogens segment is expected to account for highest revenue share in the target market in years to come.
Among the food tested segments, the meat & seafood products segment is projected to register major revenue growth in the target market in the next 10 years.
Among the technology segments, the PCR-based segment is expected to register for significant revenue share contribution in the target market.
Global Rapid Test Market: Region Analysis
The rapid test market in North America is expected to account for major revenue share contribution and projected to maintain its dominance in the target market in the next 10 years. Increasing use for rapid test owing to stringent regulatory norms pertaining to food safety is a factor expected to drive growth of the target market in North America region.
The Europe market is projected to register moderate revenue growth in the global rapid test market owing to increasing regulations regarding food safety in countries in the region. The market in Asia Pacific is expected to grow at a rapid rate in the target market owing to increasing international trade and technological advancements in emerging countries.
Global Rapid Test Market Segmentation:
Segmentation on the Basis of Contaminant:
- Meat speciation
- Heavy metals
- Others(veterinary drugs, processing induced chemicals, and dioxins & PCBs)
Segmentation on the Basis of Food Tested:
- Meat & Seafood Products
- Dairy & Dairy Products
- Processed Foods
- Fruits & Vegetables
- Cereals & Grains
- Nuts, Seeds, and Spices
- Others (food additives and sauces)
Segmentation on the Basis of Technology:
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- SGS SA
- Eurofins Scientific SE
- Intertek Group plc
- ALS Limited
- TÜV SÜD AG
- Bureau Veritas SA
- Merieux Nutrisciences Corporation
- Asurequality Ltd.
- Microbac Laboratories, Inc.
- Genetic Id Na Inc.
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