Global COVID-19 Antigen Test Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

COVID-19 is a contagious respiratory illness caused by Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) that infects the respiratory system of humans, causing infections ranging from the common cold to more severe respiratory diseases. The COVID-19 antigen test is a diagnostic test used to detect the presence of specific proteins from the SARS-CoV-2 virus, which causes COVID-19, in a person’s respiratory specimen. The COVID-19 antigen test uses a sample typically collected from a nasal or throat swab.

Sizing and Forecast

The covid-19 antigen test market size has grown strongly in recent years. It will grow from $6.61 billion in 2023 to $7.13 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to pandemic outbreak, emergency regulatory approvals, supply chain challenges, government initiatives, global vaccination efforts.

The covid-19 antigen test market size is expected to see strong growth in the next few years. It will grow to $9.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to point-of-care testing expansion, new variants surveillance, public health measures, market competition, emerging variants and continued threat. Major trends in the forecast period include development and approval of next-generation antigen tests, integration of digital and smartphone technologies for test result reporting, expansion of testing infrastructure in high-risk settings, increasing demand for home-based antigen test kits, emphasis on affordable and accessible testing solutions, continuous research for variants-specific antigen tests..

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Segmentation & Regional Insights

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

Asia-Pacific was the largest region in the COVID-19 antigen test market in 2023. 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.

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Major Driver Impacting Market Growth

The rising popularity of self-administered test kits is expected to propel the growth of the COVID-19 antigen test market going forward. Self-administered test kits refer to medical or diagnostic kits designed for individuals to use on themselves without the need for medical professionals or trained personnel to administer the test at home. The increased use of self-administered test kits helps increase the availability of COVID-19 antigen tests, slowing the spread of the virus and identifying infected individuals at home. For instance, in April 2022, according to the Centers for Disease Control and Prevention, a US-based national public health agency, there was a significant increase in the use of at-home COVID-19 tests among U.S. adults aged 18 and older from the Delta-predominant period (August to December 2021) to the Omicron-predominant period (December to March 2022). The use of at-home tests among respondents who reported COVID-19-like symptoms increased from 5.7% to 20.1. Therefore, the rising popularity of self-administered test kits is driving the growth of the COVID-19 antigen test market.

Key Industry Players

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.</b

The covid-19 antigen test market report table of contents includes:

1. Executive Summary
2. COVID-19 Antigen Test Market Characteristics
3. COVID-19 Antigen Test Market Trends And Strategies
4. COVID-19 Antigen Test Market – Macro Economic Scenario
5. Global COVID-19 Antigen Test Market Size and Growth
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32. Global COVID-19 Antigen Test Market Competitive Benchmarking
33. Global COVID-19 Antigen Test Market Competitive Dashboard
34. Key Mergers And Acquisitions In The COVID-19 Antigen Test Market
35. COVID-19 Antigen Test Market Future Outlook and Potential Analysis
36. Appendix