Global COVID-19 Antigen Test Market Projected to Grow at 7.4% CAGR, Reaching $10.19 Billion by 2029

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How Large Will the COVID-19 Antigen Test Market Size By 2025?
The market size for COVID-19 antigen tests underwent impressive expansion in the previous years. This market is projected to escalate from a size of $7.13 billion in 2024 to $7.65 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth during the historical period include the pandemic outbreak, emergency regulatory authorizations, supply chain difficulties, governmental initiatives, and worldwide vaccination campaigns.

How Big Is the COVID-19 Antigen Test Market Size Expected to Grow by 2029?
In the upcoming years, the COVID-19 antigen test market is predicted to undergo substantial growth, expanding to $10.19 billion by 2029 with a CAGR of 7.4%. This surge over the forecast period can be linked to factors including the growth of point-of-care testing, vigilance of new variants, implementation of public health measures, competitive market factors, emerging variants, and a consistent threat. Key trends anticipated during the forecast period encompass the development and approval of advanced antigen testing, adaptation of digital and smartphone technology for reporting test results, enlargement of testing framework in vulnerable settings, a growing interest for home-based antigen testing kits, a focus on affordable and widely accessible testing options, and unending research for variant-specific antigen tests.

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Which Key Market Drivers Powering COVID-19 Antigen Test Market Expansion and Growth?
The boom in self-administered test kits is projected to accelerate the expansion of the COVID-19 antigen test market. These kits imply medical or diagnostic equipment that allows individuals to self-test without medical professionals or qualified staff. The enhanced usage of these kits contributes to the distribution of COVID-19 antigen tests, curtails virus transmission, and identifies infected persons at home. For instance, the Centers for Disease Control and Prevention, a US-based national public health entity, witnessed a considerable increase in the utilization of home-based COVID-19 testing among U.S. adults aged 18 and over between the Delta-dominant phase (August to December 2021) and the Omicron-dominant phase (December to March 2022) in April 2022. The uptake of home-based testing among participants exhibiting COVID-19-like symptoms escalated from 5.7% to 20.1. Hence, the surge in the attraction towards self-administered test kits is fueling the COVID-19 antigen test market's growth. The growth of the COVID-19 antigens test market is set to receive a substantial boost through the predicted rise in testing rates. Testing rates relate to the frequency of conducting diagnostic tests like COVID-19 in a particular population or timeframe. As testing rates inch upward, the demand for COVID-19 testing methodologies, including antigen tests, also escalates. This growth in demand, in turn, fosters the market's expansion, compelling manufacturers and suppliers to increase test production and distribution. For instance, a US-based health organization, the National Institutes of Health (NIH), stated in October 2023 that the complete COVID-19 testing rate fluctuated between 5.13 and 22,386.63 per 1000 individuals from October 2022 to October 2023. As a result, the surge in testing rates propels the growth of the COVID-19 antigen test market.

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What Are the Emerging Segments in the COVID-19 Antigen Test Market?
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 Global Leaders 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.

Which are the Top Profitable Regional Markets for the COVID-19 Antigen Test Industry?
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.

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