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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