Rapid Test Kit Market

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Further key findings from the report suggest
• By test type, the rapid antigen test is likely to hold substantial market share in 2020 and is expected
to grow at a rate of -21.1% in the forecast period. The basis rapid antigen test is the particular binding
of an antigen (glycoprotein or protein) to an antibody. Antigen assays are usually more cost-effective
as compared to either molecular or culture techniques; nevertheless, they do not increase their target
as culture increases communicable organisms or as polymerase chain reaction amplifies nucleic acid.
Therefore, this test is frequently less sensitive as compared to other methods.
• By end-users, hospitals and clinics are likely to contribute to the largest market share in 2020 and is
expected to grow at a rate of -21.0% the forecast period. The factors including well-resourced
operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare
professionals, and improved health coverage for hospital-based healthcare services from several
private and group insurance plans, among others, are responsible for the high market share of
hospitals.
• The market in the Asia Pacific region is estimated to grow at the fastest rate of -20.0% in the forecast
period, attributed to the presence of a large population in the countries such as India in the region
pushing the governments to order rapid test kits for COVID-19 in huge quantity to contain the spread
of the disease.