COVID-19 Rapid Test Kits Market Landscape 2025: Forecast Data and Growth Strategy Insights

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COVID-19 Rapid Test Kits Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a significant drop in the market size of covid-19 rapid test kits. A decline from "$918.74 billion in 2024 to $79.35 billion in 2025, witnessing a compound annual growth rate (CAGR) of -91.4% is predicted. This sizeable drop during the historical period is due to various factors including issues related to sensitivity and specificity, limited capability of multiplexing, emergence of viral variations, disruptions in the supply chain, and regulatory hurdles.

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What Are the Drivers Transforming the COVID-19 Rapid Test Kits Market?
The growth of the COVID-19 rapid test kits market is anticipated to be propelled by government regulations and initiatives aimed at diversifying diagnostic methods throughout the forecast period. The need for improved diagnostic facilities is becoming increasingly vital to combat the ongoing rise of COVID-19 cases worldwide, especially within the growing elderly population. To illustrate, in April 2022, the US-based Food and Drug Administration presented new preliminary guidance for the industry to formulate plans for the inclusion of more individuals from underrepresented racial and ethnic groups in clinical trials. The objective of this was to ensure the significant involvement of diverse communities in the pursuit of superior treatments and disease-fighting strategies. The COVID-19 rapid test kits market is set to be further invigorated by strong funding and investments, both from public and private entities, directed towards the quick and revolutionary production of COVID-19 diagnostics.

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What Long-Term Trends Will Define the Future of the COVID-19 Rapid Test Kits Market?
Major firms engaged in the COVID-19 Rapid Test Kits market are innovating with new offerings such as Antigen Rapid Test Kits, aimed at delivering quick and precise virus identification, thereby aiding in effective management of infection spread. Antigen Rapid Test Kits recognize viral proteins associated with diseases like COVID-19 and return results based on nasal or throat swab samples within 15-30 minutes. Although they are less sensitive compared to PCR tests, their efficacy lies in quick large-scale screening. For instance, in June 2023, Kaneka Corporation, a chemical manufacturing company from Japan, introduced the KANEKA Immunochromatography Flu A/B and SARS-CoV-2 Ag. This testing kit allows the swift and accurate detection of both COVID-19 and influenza viruses from a single nasal swab sample, producing results in approximately ten minutes. Its simple to use layout eliminates the need for specialized equipment, making it feasible for medical facilities and personal testing situations. Furthermore, the kit's ability to identify multiple viruses at once magnifies its usefulness in a clinical environment, promoting prompt diagnoses and fitting treatment choices.

Which Segments in the COVID-19 Rapid Test Kits Market Offer the Most Profit Potential?
The covid-19 rapid test kits market covered in this report is segmented -

1) By Test Type: RT PCR Test, Rapid Antigen Test, Rapid Antibody Test, Others
2) By Test Components: PCR Machines, Equipment And Extraction Kits, Reagents
3) By Specimen Type: Nasopharyngeal Swab, Oropharyngeal Swab, Nasal Swab, Blood, Others
4) By End-Users: Hospitals And Clinics, Diagnostic Laboratories, Home Care, Others

Subsegments:
1) By RT PCR Test: Conventional RT PCR Tests, Real-Time RT PCR Tests, Automated RT PCR Systems
2) By Rapid Antigen Test: Nasal Swab Antigen Tests, Saliva-Based Antigen Tests, Lateral Flow Assays
3) By Rapid Antibody Test: IgM Or IgG Rapid Tests, Lateral Flow Serological Tests, Enzyme-Linked Immunosorbent Assay (ELISA) Kits
4) By Others: Combination Tests, Molecular Diagnostic Tests, Home Test Kits

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Which Firms Dominate the COVID-19 Rapid Test Kits Market by Market Share and Revenue in 2025?
Major companies operating in the covid-19 rapid test kits market include Abbott Laboratories, F. Hoffmann-La Roche Ag, Becton, inson and Company, Siemens Healthineers Ag, Quidel Corporation, Thermo Fisher Scientific Inc., Quest Diagnostics, QIAGEN N.V., DiaSorin S.p.A., Mylab Discovery Solutions, Kalbe Farma, He Qi Group Foundation, Beijing Jinwofu Bioengineering Technology Company, Zhejiang Orient Gene Biotech Co. Ltd, Transasia Bio Medicals, Vanguard Diagnostics, HLL Lifecare Limited, Voxtur Bio Ltd, LAB-CARE Diagnostics, ImmunoScience, CPC Diagnostics, Seegene, SD Biosensor, Getein Biotech, Hangzhou Biotest Biotech, Boditech Med, Inc, Beijing Tigsun Diagnostics, Hunan Lituo Biotechnology, Vivacheck Lab, Fujirebio, Sysmex Corporation, Atomo Diagnostics, Cellmid Limited, Senova, CerTest Biotec, Omega Diagnostics, Abingdon Health, Babylon, Novacyt Group, BioMaxima S.A, SensDx S.A, OraSure Technologies, Inc, Sorrento Therapeutics, Monocent Inc, Aurora Biomed, Hologic, LabCorp, GenMark Diagnostics, BioFire Diagnostics, Mesa Biotech, Perkin Elmer, Healgen Scientific Limited Liability Company, NTBIO DiagnosticsVictory Square Health, Motologic, LetsGetChecked, ACRO Biotech, Cellex Inc, Advagen Biotech Ltd, BATM, BioMedomics QuantLease, CapeBio

Which Regions Offer the Highest Growth Potential in the COVID-19 Rapid Test Kits Market?
North America was the largest region in the COVID-19 rapid test kits market in 2024. Western Europe was the second largest region in the global COVID-19 rapid test kits market share. The regions covered in the COVID-19 rapid test kits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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