Fact.MR’s detailed study on the rapid medical diagnostic kits market forecasts the landscape to accrue significant gains through 2031. Rising prevalence of infectious diseases has been surging demand for rapid medical diagnostic kits, globally. Need for detecting new pathogens that are causing infections is boosting market growth. There has also been a noticeable decrease in the immune systems of people due to sedentary and unhealthy lifestyles, which makes them vulnerable to infections, thus, supplementing demand for rapid medical diagnostic kits.

Increasing geriatric population worldwide is also anticipated to aid market growth. Emergence of cheap rapid medical diagnostic kits, especially with the onset of the COVID-19 pandemic, is another factor catalyzing sales across regions. As per Fact.MR analysis, the global rapid medical diagnostic kits market is projected to expand at a steady CAGR of around 4% through 2031.

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Key Takeaways from Market Study

• Global market for ovarian cancer diagnostics to rise at robust CAGR of nearly 7% over next ten years.
• In 2020, market revenue accounted for net worth of US$ 1.3 Bn.
• North America anticipated to account for nearly 45% of global market share.
• Market in China and India expected to grow at high CAGRs in APAC region.
• Increasing aging population, rising investments in R&D, and government funding for innovations are major factors driving market expansion.

“Increasing focus on early stage detection and tests is anticipated to be the major area of interest in the ovarian cancer diagnostics industry,” says a Fact.MR analyst.

Key Segments of Ovarian Cancer Diagnostics Industry Survey

• By Cancer Type:
  • Epithelial Tumor Diagnostics
  • Germ Cell Carcinoma Tumor Diagnostics
  • Stromal Carcinoma Tumor Diagnostics
• By Test Type:
  • CA 125 Test for Ovarian Cancer Diagnostics
  • HER 2 Test for Ovarian Cancer Diagnostics
  • BRCA Test for Ovarian Cancer Diagnostics
  • CEA Test for Ovarian Cancer Diagnostics
  • ER & PR Test for Ovarian Cancer Diagnostics
  • KRAS Mutation Test for Ovarian Cancer Diagnostics
  • Others
• By End User:
  • Hospital Associated Labs
  • Independent Diagnostic Laboratories
  • Cancer Research Institutes
  • Others

Competitive Landscape

Some of the key manufacturers of ovarian cancer diagnostic products, such as Quest Diagnostics Incorporated, Myriad Genetics Inc., AstraZeneca plc., Epigenomics AG Illumina Inc., Bio-Rad Laboratories Inc., Siemens AG, Thermo Fisher Scientific Inc., Roche Holding AG., Abbott Laboratories, etc., have been profiled in this market study.

• In September 2021, Abacus Diagnostica, Kaivogen, and Labrox announced that they would be joining forces to form a new company that would be focused on providing unique testing and diagnostic solutions for infectious diseases and cancers.
• AOA, a diagnostic innovations firm, raised US$ 2.5 Mn in seed funding in order to develop a new diagnostic test for ovarian cancer. The test will be a first of its kind non-invasive procedure for the diagnosis of ovarian cancer.