Germany Rapid Medical Diagnostic Kits Market Size & Outlook
Germany rapid medical diagnostic kits market, 2018-2030 (US$M)
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Germany rapid medical diagnostic kits market highlights
- The Germany rapid medical diagnostic kits market generated a revenue of USD 912.1 million in 2023 and is expected to reach USD 1,222.1 million by 2030.
- The Germany market is expected to grow at a CAGR of 4.3% 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 912.1 million |
| Market revenue in 2030 | USD 1,222.1 million |
| Growth rate | 4.3% (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, Germany accounted for 4.7% 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 Europe, UK rapid medical diagnostic kits market is projected to lead the regional market in terms of revenue in 2030.
- Sweden is the fastest growing regional market in Europe and is projected to reach USD 390.5 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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Germany 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 63.39% in 2023. Horizon Databook has segmented the Germany rapid medical diagnostic kits market based on otc rdt, professional rdt covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing product approvals and launch of novel rapid COVID-19 diagnostic tests by local manufacturers are expected to support the market growth in Germany. For instance, on March 10, 2020, Pharmact AG, a Germany-based company, specializing in the development of rapid diagnostic tests has launched its new CoV-2 Rapid Test.
This newly launched test is a point-of-care rapid test that provides results in 20 minutes. Similarly, on April 30, 2020, Germany-based altona Diagnostics GmbH received CE-IVD marking for its COVID-19 test kit, RealStar SARS-CoV-2 RT-PCR Kit 1.0. With this approval, the company initiated supply of its test kit in the European market.
Key players in the market are adopting inorganic growth strategies to expand their presence in Germany. In March 2020, Thermo Fisher Scientific, Inc., a U.S.-based diagnostic solutions manufacturer, announced to acquire QIAGEN N.V., a Germany-based molecular diagnostics company. The transaction is anticipated to be completed in the first half of 2021.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany rapid medical diagnostic kits market , including forecasts for subscribers. This country databook contains high-level insights into Germany rapid medical diagnostic kits market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany rapid medical diagnostic kits market size, by product, 2018-2030 (US$M)
Germany Rapid Medical Diagnostic Kits Market Outlook Share, 2023 & 2030 (US$M)
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