What Fueled The Previous Growth In The COVID 19 Antigen Test Market?
The covid 19 antigen test market has seen considerable growth due to a variety of factors.
• The dimension of the COVID-19 antigen test market has seen substantial growth in the past few years. There is projected growth from $7.13 billion in 2024 to $7.65 billion in 2025 with a compound annual growth rate (CAGR) of 7.3%.
The expansion during the historic period can be linked to the outbreak of the pandemic, emergency regulatory validations, challenges in the supply chain, actions by government, and worldwide vaccination campaigns.
What Can Be Expected from the COVID 19 Antigen Test Market Size?
The covid 19 antigen test market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size of the COVID-19 antigen test is poised for robust expansion, with projections showing that it will swell to $10.19 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 7.4%.
The significant growth during the forecast period can be ascribed to factors such as the expansion of point-of-care testing, surveillance of new variants, implementation of public health measures, competitive market dynamics, emergence of new variants and the persistent threat they pose. Key trends to watch out for during the forecast period encompass the formulation and sanctioning of next-generation antigen tests, the incorporation of digital and smartphone technologies for disclosing test results, augmentation of testing infrastructure in high-risk areas, a rising appeal of home-based antigen test kits, focus on economical and readily available testing solutions, as well as ongoing research for creating variants-specific antigen tests.
What Are the Critical Driver Fuelling The COVID 19 Antigen Test Market's Growth?
As the demand for self-testing kits grows, it is set to push the growth of the COVID-19 antigen test market. These are medical kits that allow individuals to test themselves at home, eliminating the need for healthcare professionals. Their increased usage has made the availability of COVID-19 antigen tests more widespread, helping curb the virus' spread by identifying infected individuals within their homes. For example, in April 2022, the Centers for Disease Control and Prevention, a US-based public health agency, noted a significant uptick in the usage of home-based COVID-19 tests among adults aged 18 and above. This increase, from the Delta-predominant period (August to December 2021) to the Omicron-predominant period (December to March 2022), rose from 5.7% to 20.1 among respondents reporting COVID-19 related symptoms. As such, the heightened demand for self-testing kits is boosting the COVID-19 antigen test market. Boosted testing rates are set to contribute to the expansion of the COVID-19 antigen test market. Testing rates speak to the frequency of diagnostic tests, such as for COVID-19, conducted within a particular population or over a specified duration. Naturally, as testing rates go up, the demand for COVID-19 related testing solutions, like antigen tests, also climb. This spike in demand directly impacts the market's expansion, prompting manufacturers and suppliers to up production and distribution to meet the increased needs. For example, in October 2023, the National Institutes of Health, another US-based health organization, noted that the total testing rate for COVID-19 fluctuated between 5.13 and 22,386.63 per 1000 people from October 2022 to October 2023. Consequently, rising testing rates are accelerating the growth of the COVID-19 antigen test market.
How Is The COVID 19 Antigen Test Market segmented?
The COVID-19 antigen test market covered in this report is segmented –
1) By Product And Service: Platforms, Reagents And Kits, Services
2) By Specimen Type: Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab
3) By End-Use: Clinics And Hospitals, Home Care, Diagnostic Labs, Other End-Uses
Subsegments:
1) By Platforms: Lateral Flow Platforms, ELISA Platforms, Other Platforms
2) By Reagents And Kits: Test Kits, Reagents
3) By Services: Testing Services, Laboratory Services
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Who Are the Key Players In The COVID 19 Antigen Test Market?
Major companies operating in the COVID-19 antigen test market report are:
• F. Hoffmann-La Roche AG
• Abbott Laboratories
• Becton And Dickinson and Company
• Laboratory Corporation Of America
• PerkinElmer Inc.
• Quidel Corporation
• SD Biosensor Inc.
• Diasorin S.P.A
• Biosynex Swiss SA
• iHealth Labs Inc.
• Everlywell Inc.
• JOYSBIO Biotechnology Co. Ltd.
• Mylab Discovery Solutions Pvt. Ltd.
• Access Bio Inc.
• RayBiotech Life Inc.
• CTK Biotech Inc.
• Artron Laboratories Inc.
• Princeton BioMeditech Corporation
• ACON Laboratories Inc.
• BioLytical Laboratories Inc.
• BioNote Inc.
• Assure Tech (Hangzhou) Co. Ltd.
• ADS biotech Inc.
• ANP Technologies Inc.
• BTNX Inc.
• Cellspect Co.Ltd.
• Empowered Diagnostics LLC
• GenBody Inc.
• Beijing Wantai Biologicalpharmacy Enterprise Co. Ltd.
What Is The Most Dominant Region In The COVID 19 Antigen Test Market?
Asia-Pacific was the largest region in the COVID-19 antigen test market in 2024. The regions covered in the COVID-19 antigen test market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
