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COVID 19 Antigen Test Market Share, Growth & Forecast [2031]
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COVID 19 Antigen Test Market Share, Growth & Forecast [2031]

Segments - Global COVID-19 Antigen Test Market by Product & Services (Platforms, Reagents & Kits, and Services), End-users (Clinics & Hospitals, Home Care, Diagnostic Labs, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2023-2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Vishal Golekar

Upcoming | Report ID :HC-3431 | 4.4 Rating | 64 Reviews | 199 Pages | Format : PDF Excel PPT

Report Description


COVID-19 Antigen Test Market Outlook

The global COVID-19 antigen test market was valued USD 6.03 Billion in 2022 and is likely reach to USD 10.81 Billion by 2031, expanding at a CAGR of 6.7% during the forecast period, 2023-2031.

The COVID-19 antigen tests are gaining acceptance as they are simple to use, patient-friendly, and have a shorter test-to-result time. Antigen-based testing has switched the focus of many operational organizations from traditional PCR-based testing to antigen-based testing.

COVID-19 Antigen Test Market Outlook

  • The concerns about the prevalence and frequency of variations are expected to drive the demand for more comprehensive testing, fueling the market growth.
  • Rising demand for low-cost rapid-testing kits for large-scale testing, especially in countries with emerging healthcare systems, to assist manage COVID-19 outbreaks is driving the market growth.
  • Growing number of companies entering the market, as well as the increasing number of product approvals by regulatory agencies around the world is expected to spur the growth of the market. For instance, The US FDA has approved 28 antigen diagnostic tests for COVID-19 diagnosis as of June 16, 2021.
  • The decrease in number of patients and end of pandemic can restrain the market growth.
  • A scarcity of molecular testing materials, a reduced requirement for supplies, and an increase in demand for mass testing to stop SARS-CoV-2 from spreading over the world are some of the factors spurring the market growth.

Scope of the COVID 19 Antigen Test Market Report

The report on the global COVID-19 antigen test market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global COVID-19 Antigen Test Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2022

Historic Data

2016 & 2021

Forecast Period

2023–2031

Segmentation

Product & Services (Platforms, Reagents & Kits, and Services), End-users (Clinics & Hospitals, Home Care, Diagnostic Labs, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Abbott, SD Biosensor Inc., Mylab Discovery Solutions Pvt. Ltd, GenBody Inc., and F. Hoffmann-La Roche AG

COVID-19 Antigen Test Market Segment Insights:

Services segment to dominate the market

Based on products and services, the market can be segmented into platforms, reagents & kits, and services.

In 2020, the services segment dominated the COVID-19 antigen tests market, accounting for more than 45% of the market revenue. This is due to the extensive use of rapid antigen tests in a variety of contexts, including clinical laboratories, hospitals, and home health care.

Various service providers have began offering rapid antigen testing services in response to the increased requirement to combat the COVID-19 virus. The reagents and kits segment is expected to expand at a substantial rate during the forecast period owing to the rising preference for self-administered test kits.

COVID-19 Antigen Test Market Product & Services

Clinics & hospitals segment to hold a major market share

On the basis of end-users, the market can be divided into clinics & hospitals, home care, diagnostic labs, and others.

In 2020, the clinics & hospitals segment accounted for almost 50% market share in terms of total revenue. Rising adoption of rapid antigen tests resulted in a major revenue share. The antigen tests have been approved by the US Food and Drug Administration for use in PoC diagnosis, with the goal of increasing testing capacity, particularly in the US.

The FDA's recognition for the COVID-19 antigen tests has created profitable potential for the COVID-19 antigen testing companies to expand across a variety of end-use scenarios. As a result, these assays have a wide range of applications for COVID-19 infection testing in a variety of settings.

COVID-19 Antigen Test Market End Users

COVID-19 Antigen Test Market Regional Outlook

The market in Asia Pacific to expand at a high CAGR

In terms of regions, the market can be classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In 2020, Asia Pacific dominated the COVID-19 antigen test market, accounting for more than 35% market revenue. The dominance of the region is due to the existence of homegrown important companies, active development of SARS-CoV-2 antigen testing, and the debut of various new products by start-ups.

The US, on the other hand, has launched multiple antigen testing projects in response to the rising number of SARS-CoV-2 cases in the country, driving the market growth in North America. Moreover, the early adoption of the latest technologies, presence of major key players, and heavy investment in R&D activities are major factors fueling the regional market growth.

COVID-19 Antigen Test Market Regioin

Segments

Product & Services

  • Platforms
  • Reagents & Kits
  • Services

End-Users

  • Clinics & Hospitals
  • Home Care
  • Diagnostic Labs
  • Others

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players

Competitive Landscape

Key players of the market are Abbott, SD Biosensor Inc., Mylab Discovery Solutions Pvt. Ltd, GenBody Inc., and F. Hoffmann-La Roche AG. Companies are engaging in partnerships and collaborations to expand their market share.

COVID-19 Antigen Test Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. COVID-19 Antigen Test Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. COVID-19 Antigen Test Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. COVID-19 Antigen Test Market - Supply Chain
  4.5. Global COVID-19 Antigen Test Market Forecast
     4.5.1. COVID-19 Antigen Test Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. COVID-19 Antigen Test Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. COVID-19 Antigen Test Market Absolute $ Opportunity
5. Global COVID-19 Antigen Test Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. COVID-19 Antigen Test Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global COVID-19 Antigen Test Demand Share Forecast, 2019-2026
6. North America COVID-19 Antigen Test Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America COVID-19 Antigen Test Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America COVID-19 Antigen Test Demand Share Forecast, 2019-2026
7. Latin America COVID-19 Antigen Test Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America COVID-19 Antigen Test Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America COVID-19 Antigen Test Demand Share Forecast, 2019-2026
8. Europe COVID-19 Antigen Test Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe COVID-19 Antigen Test Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe COVID-19 Antigen Test Demand Share Forecast, 2019-2026
9. Asia Pacific COVID-19 Antigen Test Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific COVID-19 Antigen Test Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific COVID-19 Antigen Test Demand Share Forecast, 2019-2026
10. Middle East & Africa COVID-19 Antigen Test Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa COVID-19 Antigen Test Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa COVID-19 Antigen Test Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global COVID-19 Antigen Test Market: Market Share Analysis
  11.2. COVID-19 Antigen Test Distributors and Customers
  11.3. COVID-19 Antigen Test Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott
     11.4.2. SD Biosensor Inc.
     11.4.3. Mylab Discovery Solutions Pvt. Ltd
     11.4.4. GenBody Inc.
     11.4.5. F. Hoffmann-La Roche AG

Methodology

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