Australia Rapid Medical Diagnostic Kits Market Size & Outlook
Australia rapid medical diagnostic kits market, 2018-2030 (US$M)
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Australia rapid medical diagnostic kits market highlights
- The Australia rapid medical diagnostic kits market generated a revenue of USD 376.0 million in 2023 and is expected to reach USD 680.7 million by 2030.
- The Australia market is expected to grow at a CAGR of 8.8% from 2024 to 2030.
- In terms of segment, otc rdt was the largest revenue generating product in 2023.
- OTC RDT is the most lucrative product segment registering the fastest growth during the forecast period.
Rapid medical diagnostic kits market data book summary
| Market revenue in 2023 | USD 376.0 million |
| Market revenue in 2030 | USD 680.7 million |
| Growth rate | 8.8% (CAGR from 2023 to 2030) |
| Largest segment | Otc rdt |
| Fastest growing segment | OTC RDT |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OTC RDT, Professional RDT |
| Key market players worldwide | ACON Laboratories, Abbott Laboratories, BD, BioMerieux SA, Bio-Rad Laboratories Inc, Danaher Corp, Cardinal Health Inc, Creative Diagnostics, Roche, McKesson Corp, Meridian Bioscience, Trinity Biotech PLC ADR, Zoetis Inc Class A, Artron Bioresearch, Alfa Medical Group, BioNTech SE ADR, Sight Diagnostics |
Other key industry trends
- In terms of revenue, Australia accounted for 1.9% of the global rapid medical diagnostic kits market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China rapid medical diagnostic kits market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 680.7 million by 2030.
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Rapid Medical Diagnostic Kits Market Scope
Rapid Medical Diagnostic Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia rapid medical diagnostic kits market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rapid medical diagnostic kits market will help companies and investors design strategic landscapes.
Otc rdt was the largest segment with a revenue share of 62.69% in 2023. Horizon Databook has segmented the Australia rapid medical diagnostic kits market based on otc rdt, professional rdt covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in government initiatives to provide rapid diagnostic tests at affordable prices to patients diagnosed with diabetes is anticipated to fuel market growth during the forecast period.
For instance, the Australian Department of Health has a National Diabetes Services Scheme that provides blood glucose test strips, syringes, needles, insulin pump consumables, and glucose monitoring products at subsidized prices for patients diagnosed with diabetes.
Therefore, the rise in such initiatives by the government is expected to boost market growth. Rising prevalence of diabetes in Australia is also expected to propel the market during the forecast period. According to the Australian Institute of Health and Welfare, about 16,400 deaths were recorded due to diabetes in 2015 out of which half of the patients were diagnosed with type 2 diabetes.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia rapid medical diagnostic kits market , including forecasts for subscribers. This country databook contains high-level insights into Australia rapid medical diagnostic kits market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia rapid medical diagnostic kits market size, by product, 2018-2030 (US$M)
Australia Rapid Medical Diagnostic Kits Market Outlook Share, 2023 & 2030 (US$M)
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