Comprehensive 2025 COVID-19 Rapid Test Kits Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the COVID-19 Rapid Test Kits Market Through 2025?
The market size for Covid-19 rapid test kits has seen a sharp decrease over the past few years. The decline is projected to be from $918.74 billion in 2024, plummeting to $79.35 billion in 2025 with a staggering Compound Annual Growth Rate (CAGR) of -91.4%. The reasons behind this decline during the historic period include concerns about sensitivity and specificity, limited capability for multiplexing, development of viral variants, disruptions in the supply chain, and regulatory hurdles.

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Top Growth Drivers in the COVID-19 Rapid Test Kits Industry: What's Accelerating the Market?
Steps taken by the government and diverse diagnostic strategies are predicted to stimulate the expansion of the COVID-19 rapid test kits market in the foroming years. The escalating global prevalence of COVID-19, especially among the elderly, necessitates improved diagnostic resources. For instance, in April 2022, The Food and Drug Administration, an American government agency, released preliminary guidelines to the industry to create strategies to involve more individuals from underrepresented racial and ethnic groups in clinical trials. This move is intended to ensure that diverse communities are adequately represented in the pursuit of improved treatments and disease combat measures. The COVID-19 rapid test kits market is anticipated to receive an additional boost through substantial funding and investment from both public and private entities towards the swift and innovative creation of COVID-19 diagnostics.

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What Trends Will Shape the COVID-19 Rapid Test Kits Market Through 2029 and Beyond?
Top firms in the COVID-19 Rapid Test Kits sector are innovating with products such as Antigen Rapid Test Kits, which offer speedy and precise detection of the virus, thereby promoting an effective management of infection spread. These Antigen Rapid Test Kits recognize viral proteins connected to infections such as COVID-19, giving outcomes from a nasal or throat swab within 15-30 minutes. Despite being less sensitive compared to PCR tests, they prove beneficial for rapid large-scale screenings. For example, in June 2023, the Japan-based chemical producer, Kaneka Corporation, introduced KANEKA Immunochromatography Flu A/B and SARS-CoV-2 Ag. This individual test kit promises swift and correct COVID-19 and influenza detection from a single nasal swab sample, delivering results in roughly ten minutes. Its straightforward design negates the necessity for specialized tools, making it available for both healare centers and self-testing environments. Furthermore, the kit's ability to simultaneously detect multiple viruses increases its clinical usefulness, promoting prompt diagnosis and informed treatment decisions.

What Are the Main Segments in the COVID-19 Rapid Test Kits Market?
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 Top Companies are Driving Growth in the COVID-19 Rapid Test Kits Market?
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 Will Dominate the COVID-19 Rapid Test Kits Market Through 2029?
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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