The global rapid RNA testing kits market was valued at around US$ 5,890.0 Million at the end of 2021. The market is projected to register a 6.8% CAGR and top a valuation of US$ 12,157.6 Million by 2032.
Growing advantages of rapid RNA testing kits such as it provides quick results, helps in reducing the spread of infection and prevent outbreaks are likely to propel the market for rapid RNA testing kits.
Rapid RNA testing kits are made with high sensitivity, cheap cost, fast response times, and ease of use in mind. The majority of these quick RNA testing kits provide results in less than an hour. Akonni Biosystems, Inc.'s TruTip Quick RNA Kit is one of the rapid RNA testing kits that comes in multiple configurations depending on the sample viscosity, i.e. low viscosity and high viscosity. These quick RNA testing kits are used to diagnose a wide range of conditions and diseases as well as for research. Rapid RNA testing kits serve as point-of-care diagnostic tools for diseases like HIV, influenza, and others.
Rapid RNA testing kits are especially helpful in areas where pathology facilities are under-resourced and in low-income areas like Africa. The development of quick RNA testing kits for HIV is supported by WHO initiatives to lower the number of HIV cases worldwide.
Another issue is the rise of other infectious diseases like influenza, which demands for quick testing to guarantee prompt diagnosis and treatment. The typical sample types for these fast RNA testing kits are blood or urine. For some quick RNA testing kits, saliva may also be utilised as a sample source.
Attributes
Details
Rapid RNA Testing Kits Market Value in 2021
US$ 5,890.0 Million
Rapid RNA Testing Kits Market Value in 2032
US$ 12,157.6 Million
Rapid RNA Testing Kits Market CAGR (2022 to 2032)
6.8%
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What are the Major Drivers Boosting the Demand for Rapid RNA Testing Kits Market?
The market for rapid RNA testing kits is expanding significantly as a result of increased biotechnology research as well as an increase in specific diseases and infections including HIV and influenza. Therefore, increasing prevalence of HIV and influenza is supposed to boost the market’s growth.
For instance, according to World Health Organization (WHO), in 2021, around 38.4 million people globally were suffering from HIV and about 6,50,000 people globally died due to HIV.
Moreover, growing benefits of rapid RNA testing kits such as faster results and ease of use are contributing to the market's increasing appeal. Additionally, chances of false positive or false negative result is low, which do not impact the results. This factors are supposed to stimulate the market growth over the forecast duration.
Which Region Shows Strong Growth Potential in the Rapid RNA Testing Kits Market?
The rapid RNA testing kits market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America dominated the regional rapid RNA testing kits market due to region’s supporting healthcare system. Additionally, presence of top key players such as GeneBio Systems Inc., Zymo Research, Akonni Biosystems, Inc., and Bioo Scientific in the region is supposed to boost the regional market for rapid RNA testing kits.
Moreover, the market for rapid RNA testing kits in Asia Pacific is predicted to expand at the fastest rate and with the highest CAGR during the forecast period due to the region's robust and changing government funding for research and healthcare.
