China Rapid Medical Diagnostic Kits Market Size & Outlook
China rapid medical diagnostic kits market, 2018-2030 (US$M)
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China rapid medical diagnostic kits market highlights
- The China rapid medical diagnostic kits market generated a revenue of USD 990.8 million in 2023 and is expected to reach USD 1,496.3 million by 2030.
- The China market is expected to grow at a CAGR of 6.1% 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 990.8 million |
| Market revenue in 2030 | USD 1,496.3 million |
| Growth rate | 6.1% (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, China accounted for 5.1% 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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China 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 63% in 2023. Horizon Databook has segmented the China rapid medical diagnostic kits market based on otc rdt, professional rdt covering the revenue growth of each sub-segment from 2018 to 2030.
Growing strategic collaborations among startup and well-established companies are anticipated to fuel market growth. For instance, from January 2019, startups from nine different countries would be collaborating with Merck KGaA and join its Accelerator Program at the Innovation Centre.
One of the top 10 startups is iXensor based in Taiwan. iXensor’s solution enables instant clinical tests for people diagnosed with diabetes & cardiovascular diseases and women trying to conceive. The wait time for results is reduced to about 3 minutes from 3 days, enabling on the spot advice.
Clinical tests from iXensor allows health checkups to be more accessible in clinics, private homes, and pharmacies. It also allows data to synchronize to cloud in real-time, making analysis and interventions easier. Thus, rise in such collaborations is expected to boost market growth during the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the China rapid medical diagnostic kits market , including forecasts for subscribers. This country databook contains high-level insights into China rapid medical diagnostic kits market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China rapid medical diagnostic kits market size, by product, 2018-2030 (US$M)
China Rapid Medical Diagnostic Kits Market Outlook Share, 2023 & 2030 (US$M)
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