COVID-19 Rapid Antigen Test Market size was valued at US$ 5.65 Bn. in 2022 and the total COVID-19 Rapid Antigen Test revenue is expected to grow at 6.7 % through 2022 to 2029, reaching nearly US$ 8.9 Bn.
COVID-19 Rapid Antigen Test Market Overview:
The COVID-19 Rapid Antigen Test Market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the COVID-19 Rapid Antigen Test Market, as well as the causes for variances in the industry’s growth in various places
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COVID-19 Rapid Antigen Test Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
COVID-19 Rapid Antigen Test Market Drivers:
Rising global COVID-19 cases will increase the market share during the forecast timeline: One of the primary factors driving the growth of the market is the global increase in COVID-19 infections. The number of persons infected has grown dramatically. Also, even while vaccination rates are high, infected persons can still transfer the disease and fuel its spread. Such conditions boost demand for COVID-19 Rapid Antigen Test Market growth. There is a considerable demand for low-cost rapid-testing kits for large-scale testing to help control COVID-19 outbreaks, particularly in countries with weak healthcare systems such as India. Currently, India and the United States are the leading contributors to total COVID-19 cases worldwide. The increase in COVID-19 cases can also be attributed to the virus's development into newer forms. These considerations contribute to the demand for rapid mass testing.
The growing number of firms entering this market coupled with increasing product approvals by the regulatory bodies across the globe. The FDA has approved 28 antigen diagnostic tests for COVID-19 diagnosis as of June 16, 2022. As a result, regulatory organizations play an important role in boosting the market growth. For example, Vatic Health, a U.K.-based company, received the CE mark in April 2022 for their COVID-19 viral on-the-spot' saliva antigen test. Many businesses have moved their attention from traditional PCR-based testing to antigen-based testing, believing it will be a valuable source of revenue in the coming years.
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COVID-19 Rapid Antigen Test Market Segmentation:
by Product
• RT-PCR Assay Kits
• Immunoassay Test Strips
• Cassettes
by Specimen Type
• Nasopharyngeal Swab
• Oropharyngeal Swab
• Nasal Swab
by Technology
• Chromatographic Immunoassay
• Fluorescent Immunoassay
• Others
by End-User
• Hospitals
• Diagnostic Laboratories
• Clinics
• Homecare
• Others
COVID-19 Rapid Antigen Test Market Key Players: The key players are
• Abbott
• Cipla
• AMEDA Labordiagnostik GmbH
• Becton Dickinson
• Beijing Lepu Medical Technology
• BIOSYNEX SWISS SA
• CerTest Biotect S.L.
• Hangzhou Clongene Biotech
• Healgen Scientific Limited
• LumiraDX UK Ltd.
• nal von minden GmbH
• Quidel Corporation
• SD BIOSENSOR, Inc.
• Roche
• Siemens Healthineers
• Xiamen Boson Biotech Co.
• Zhejiang Orient Gene Biotech Co., Ltd.
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Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the COVID-19 Rapid Antigen Test Market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the COVID-19 Rapid Antigen Test Market Report are:
1. Which is the potential market for the COVID-19 Rapid Antigen Test in terms of the region?
2. What is expected to drive the growth of the COVID-19 Rapid Antigen Test market in the forecast period?
3. What is the projected market size & growth rate of the COVID-19 Rapid Antigen Test Market?
4. What segments are covered in the COVID-19 Rapid Antigen Test Market report?
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