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The Global Rapid Test Kit Market was valued at USD 23.44 Billion in 2020 and is expected to grow at a formidable rate of 8.14% during the forecast period.
The Global Rapid Test Kit Market is driven by the growing prevalence of various infectious diseases. Additionally, benefits associated with rapid test kits such as low cost, accuracy, early disease diagnosis, quick results, stability at high temperature, among others are further expected to propel the market growth through 2026.
Moreover, sudden outbreak and spread of pandemic COVID-19 has drastically increased the demand for rapid test kits, thereby fueling the market growth during the forecast period. Many major biotechnology and pharmaceutical companies have developed their own rapid test kits, and many are still investing, researching and working on the development of better and advanced rapid test kits. This in turn is expected to create lucrative
Industry News: Thermo Fisher Scientific to acquire point-of-care molecular diagnostics provider Mesa Biotech
The acquisition aims to meet continuing demand for COVID-related testing as well as develop point-of care tests for future infectious diseases
22 Jan 2021
Thermo Fisher Scientific Inc., a world leader in serving science, has announced it has entered into a definitive agreement to acquire Mesa Biotech, Inc., a privately held molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.
Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Mesa Biotech s patented technology expands the availability of gold standard
Thermo Fisher To Buy Molecular Diagnostics Company Mesa Biotech For About $450 Mln
WASHINGTON (dpa-AFX) - Thermo Fisher Scientific Inc. (TMO) said Tuesday it has agreed to acquire Mesa Biotech, Inc., a privately held molecular diagnostic company, for about $450 million in cash.
Under the terms of the deal, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.
Thermo Fisher expects the transaction to be completed in the first quarter of 2021. Upon completion, the business will become part of Thermo Fisher s Life Sciences Solutions Segment.
Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A.
Thermo Fisher Scientific Inc. the world leader in serving science, today announced it has entered into a definitive agreement to acquire Mesa Biotech, Inc., a privately held molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the .