COVID-19 Antigen Test Market Growth, Size, Share, Trends, Demand And Analysis Report 2024-2033

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.

Market Overview -
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.

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Surging Demand For Self-Administered COVID-19 Antigen Tests Reshapes The Market Landscape
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.

Competitive Landscape -
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 Biological pharmacy Enterprise Co. Ltd.

Surge In Testing Fuels Growth Of The COVID-19 Antigen Test Market
An increase in testing rates is expected to propel the growth of the COVID-19 antigen test market going forward. Testing rates refer to how often diagnostic tests, such as COVID-19, are performed within a given population or over a specific period. As testing rates rise, there is an increased demand for COVID-19 testing solutions, including antigen tests. This surge in demand directly contributes to the market's growth, as manufacturers and suppliers need to produce and distribute more tests to meet the increased requirements. For instance, in October 2023, according to the National Institutes of Health (NIH), a US-based health organization, the total COVID-19 testing rate ranged from 5.13 to 22,386.63 per 1000 people from October 2022 to October 2023. Therefore, an increase in testing rates is driving the growth of the COVID-19 antigen test market.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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