Global COVID-19 Rapid Antigen Test Kits Market Growth 2024-2030
COVID-19 Rapid Antigen Test Kits market decreases from US$27.42 billion in 2023 to US$4.58 billion by 2030, with a -22.6% CAGR, due to declining demand in the downstream market.
The COVID-19 pandemic spurred an unprecedented surge in diagnostic testing, and the global COVID-19 rapid antigen test kits market emerged as a critical player in the fight against the virus. These rapid tests offer a fast, convenient, and cost-effective way to detect the presence of SARS-CoV-2, the virus responsible for COVID-19. Unlike molecular tests (RT-PCR), which require complex laboratory analysis to detect viral genetic material, rapid antigen tests take a different approach. They identify specific proteins, known as antigens, that are present on the surface of the SARS-CoV-2 virus. This process is akin to recognizing a person by their clothing rather than their DNA fingerprint. While not as sensitive as RT-PCR tests, which can detect the virus even in very low quantities, rapid antigen tests provide results within minutes, making them ideal for a variety of applications.
According to our publiser’s latest study, the global COVID-19 Rapid Antigen Test Kits market size was valued at US$ 27420 million in 2023. With growing demand in downstream market, the COVID-19 Rapid Antigen Test Kits is forecast to a readjusted size of US$ 4583.1 million by 2030 with a CAGR of -22.6% during review period.
The research report highlights the growth potential of the global COVID-19 Rapid Antigen Test Kits market. COVID-19 Rapid Antigen Test Kits are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of COVID-19 Rapid Antigen Test Kits. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the COVID-19 Rapid Antigen Test Kits market.
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The COVID-19 Rapid Antigen Test Kit is an in-vitro immunochromatographic assay for the qualitative detection of SARS-CoV-2 viral nucleoprotein antigens in Fluorescence Immunochromatography, Colloidal Gold Immunochromatography and Latex Immunochromatography specimens from individuals suspected of COVID-19 by their healthcare provider.
Global key players of COVID-19 rapid antigen test kits include Abbott, Quidel, ACCESS BIO, CTK Biotech, etc. Global top five manufacturers hold a share over 47%. Europe is the largest market of COVID-19 rapid antigen test kits holds a share over 48%. In terms of product, fluorescence immunochromatography is the largest segment, with a share over 84%.And in terms of application, the largest application is hospital, with a share over 69%.
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Manmayi Raval
Research Consultant
The report on COVID-19 Rapid Antigen Test Kits market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the COVID-19 Rapid Antigen Test Kits market. It may include historical data, market segmentation by Type (e.g., Fluorescence Immunochromatography, Colloidal Gold Immunochromatography), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the COVID-19 Rapid Antigen Test Kits market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
The Shifting Landscape of COVID-19 Rapid Antigen Test Kits
The global COVID-19 rapid antigen test kits market has been a dynamic force in pandemic management. Here's a look at the key drivers, trends, and challenges shaping its future:
Market Drivers:
• Urgency for Rapid Testing: The need to quickly identify infected individuals to control the spread of the virus fueled initial market growth.
• Increased Testing Frequency: Evolving testing protocols necessitated frequent and convenient testing solutions, boosting demand for rapid tests.
Market Trends:
• Market Maturation: Widespread vaccination and potential endemicity of COVID-19 suggest a shift towards targeted testing, impacting market size.
• Focus on Specificity: The emergence of new variants necessitates tests with high specificity to accurately detect COVID-19 and minimize false positives.
Market Challenges:
• Shifting Needs: As the pandemic evolves, the market needs to adapt to cater to changing testing requirements and potentially lower overall demand.
• Technological Advancements: Maintaining a competitive edge requires continuous innovation in rapid test technology for faster turnaround times and improved accuracy.
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Competitive Landscape: The research report provides analysis of the competitive landscape within the COVID-19 Rapid Antigen Test Kits market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the COVID-19 Rapid Antigen Test Kits industry. This include advancements in COVID-19 Rapid Antigen Test Kits technology, COVID-19 Rapid Antigen Test Kits new entrants, COVID-19 Rapid Antigen Test Kits new investment, and other innovations that are shaping the future of COVID-19 Rapid Antigen Test Kits.
• Faster Turnaround Times: Tests are being developed to deliver results in even shorter timeframes, potentially within seconds.
• Enhanced Accuracy: Research focuses on improving the sensitivity and specificity of rapid tests to minimize false positives and negatives.
• Multiplex Testing Capabilities: Tests that can detect COVID-19 alongside other respiratory illnesses like influenza are being explored.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the COVID-19 Rapid Antigen Test Kits market. It includes factors influencing customer ' purchasing decisions, preferences for COVID-19 Rapid Antigen Test Kits product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the COVID-19 Rapid Antigen Test Kits market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting COVID-19 Rapid Antigen Test Kits market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the COVID-19 Rapid Antigen Test Kits market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the COVID-19 Rapid Antigen Test Kits industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
• Market Maturation: Shifting from mass testing to targeted approaches in a potentially endemic COVID-19 world.
• Specificity Focus: New tests with high accuracy for COVID-19 to minimize false positives as variants emerge.
• Multiplex???? (????) (kanousei): Possibility: Combination tests detecting COVID-19 alongside other respiratory illnesses could emerge.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the COVID-19 Rapid Antigen Test Kits market.
• Targeted Testing: As we move towards a more controlled environment, tests can focus on high-risk settings like hospitals and care facilities.
• Specificity Boost: Development of tests with enhanced accuracy to differentiate COVID-19 from other respiratory illnesses.
• Multiplex Magic: Combination tests that detect COVID-19 alongside other prevalent viruses like influenza offer a new avenue for growth.
Market Segmentation:
COVID-19 Rapid Antigen Test Kits market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Fluorescence Immunochromatography
Colloidal Gold Immunochromatography
Latex Immunochromatography
Others
Segmentation by application
Hospital
Home
School
Third-Party Detection Institution
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Abbott
Quidel
ACCESS BIO
CTK Biotech
SD Biosensor
Ellume
InBios
Celltrion
AESKU.GROUP
ROCHE
BD
OraSure Technologies
Clip Health
LumiraDx
Princeton BioMeditech Corporation
RapiGEN Inc.
Orient Gene
Wondfo Biotech
Ihealth (Andon Health)
Wantai BioPharm
Biotest Biotech
Shenzhen YHLO Biotech
Vazyme Biotech
EasyDiagnosis Biomedicine
Beijing Hotgen Biotech
Assure Tech
Hangzhou AllTest Biotech
ACON Biotech
BGI Genomics
Lepu Medical Technology
Jinwofu Bioengineering Technology
Phase Scientific
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global COVID-19 Rapid Antigen Test Kits Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for COVID-19 Rapid Antigen Test Kits by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for COVID-19 Rapid Antigen Test Kits by Country/Region, 2019, 2023 & 2030
2.2 COVID-19 Rapid Antigen Test Kits Segment by Type
2.2.1 Fluorescence Immunochromatography
2.2.2 Colloidal Gold Immunochromatography
2.2.3 Latex Immunochromatography
2.2.4 Others
2.3 COVID-19 Rapid Antigen Test Kits Sales by Type
2.3.1 Global COVID-19 Rapid Antigen Test Kits Sales Market Share by Type (2019-2024)
2.3.2 Global COVID-19 Rapid Antigen Test Kits Revenue and Market Share by Type (2019-2024)
2.3.3 Global COVID-19 Rapid Antigen Test Kits Sale Price by Type (2019-2024)
2.4 COVID-19 Rapid Antigen Test Kits Segment by Application
2.4.1 Hospital
2.4.2 Home
2.4.3 School
2.4.4 Third-Party Detection Institution
2.4.5 Others
2.5 COVID-19 Rapid Antigen Test Kits Sales by Application
2.5.1 Global COVID-19 Rapid Antigen Test Kits Sale Market Share by Application (2019-2024)
2.5.2 Global COVID-19 Rapid Antigen Test Kits Revenue and Market Share by Application (2019-2024)
2.5.3 Global COVID-19 Rapid Antigen Test Kits Sale Price by Application (2019-2024)
3 Global COVID-19 Rapid Antigen Test Kits by Company
3.1 Global COVID-19 Rapid Antigen Test Kits Breakdown Data by Company
3.1.1 Global COVID-19 Rapid Antigen Test Kits Annual Sales by Company (2019-2024)
3.1.2 Global COVID-19 Rapid Antigen Test Kits Sales Market Share by Company (2019-2024)
3.2 Global COVID-19 Rapid Antigen Test Kits Annual Revenue by Company (2019-2024)
3.2.1 Global COVID-19 Rapid Antigen Test Kits Revenue by Company (2019-2024)
3.2.2 Global COVID-19 Rapid Antigen Test Kits Revenue Market Share by Company (2019-2024)
3.3 Global COVID-19 Rapid Antigen Test Kits Sale Price by Company
3.4 Key Manufacturers COVID-19 Rapid Antigen Test Kits Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers COVID-19 Rapid Antigen Test Kits Product Location Distribution
3.4.2 Players COVID-19 Rapid Antigen Test Kits Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for COVID-19 Rapid Antigen Test Kits by Geographic Region
4.1 World Historic COVID-19 Rapid Antigen Test Kits Market Size by Geographic Region (2019-2024)
4.1.1 Global COVID-19 Rapid Antigen Test Kits Annual Sales by Geographic Region (2019-2024)
4.1.2 Global COVID-19 Rapid Antigen Test Kits Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic COVID-19 Rapid Antigen Test Kits Market Size by Country/Region (2019-2024)
4.2.1 Global COVID-19 Rapid Antigen Test Kits Annual Sales by Country/Region (2019-2024)
4.2.2 Global COVID-19 Rapid Antigen Test Kits Annual Revenue by Country/Region (2019-2024)
4.3 Americas COVID-19 Rapid Antigen Test Kits Sales Growth
4.4 APAC COVID-19 Rapid Antigen Test Kits Sales Growth
4.5 Europe COVID-19 Rapid Antigen Test Kits Sales Growth
4.6 Middle East & Africa COVID-19 Rapid Antigen Test Kits Sales Growth
5 Americas
5.1 Americas COVID-19 Rapid Antigen Test Kits Sales by Country
5.1.1 Americas COVID-19 Rapid Antigen Test Kits Sales by Country (2019-2024)
5.1.2 Americas COVID-19 Rapid Antigen Test Kits Revenue by Country (2019-2024)
5.2 Americas COVID-19 Rapid Antigen Test Kits Sales by Type
5.3 Americas COVID-19 Rapid Antigen Test Kits Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC COVID-19 Rapid Antigen Test Kits Sales by Region
6.1.1 APAC COVID-19 Rapid Antigen Test Kits Sales by Region (2019-2024)
6.1.2 APAC COVID-19 Rapid Antigen Test Kits Revenue by Region (2019-2024)
6.2 APAC COVID-19 Rapid Antigen Test Kits Sales by Type
6.3 APAC COVID-19 Rapid Antigen Test Kits Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe COVID-19 Rapid Antigen Test Kits by Country
7.1.1 Europe COVID-19 Rapid Antigen Test Kits Sales by Country (2019-2024)
7.1.2 Europe COVID-19 Rapid Antigen Test Kits Revenue by Country (2019-2024)
7.2 Europe COVID-19 Rapid Antigen Test Kits Sales by Type
7.3 Europe COVID-19 Rapid Antigen Test Kits Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa COVID-19 Rapid Antigen Test Kits by Country
8.1.1 Middle East & Africa COVID-19 Rapid Antigen Test Kits Sales by Country (2019-2024)
8.1.2 Middle East & Africa COVID-19 Rapid Antigen Test Kits Revenue by Country (2019-2024)
8.2 Middle East & Africa COVID-19 Rapid Antigen Test Kits Sales by Type
8.3 Middle East & Africa COVID-19 Rapid Antigen Test Kits Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of COVID-19 Rapid Antigen Test Kits
10.3 Manufacturing Process Analysis of COVID-19 Rapid Antigen Test Kits
10.4 Industry Chain Structure of COVID-19 Rapid Antigen Test Kits
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 COVID-19 Rapid Antigen Test Kits Distributors
11.3 COVID-19 Rapid Antigen Test Kits Customer
12 World Forecast Review for COVID-19 Rapid Antigen Test Kits by Geographic Region
12.1 Global COVID-19 Rapid Antigen Test Kits Market Size Forecast by Region
12.1.1 Global COVID-19 Rapid Antigen Test Kits Forecast by Region (2025-2030)
12.1.2 Global COVID-19 Rapid Antigen Test Kits Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global COVID-19 Rapid Antigen Test Kits Forecast by Type
12.7 Global COVID-19 Rapid Antigen Test Kits Forecast by Application
13 Key Players Analysis
13.1 Abbott
13.1.1 Abbott Company Information
13.1.2 Abbott COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.1.3 Abbott COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.1.4 Abbott Main Business Overview
13.1.5 Abbott Latest Developments
13.2 Quidel
13.2.1 Quidel Company Information
13.2.2 Quidel COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.2.3 Quidel COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.2.4 Quidel Main Business Overview
13.2.5 Quidel Latest Developments
13.3 ACCESS BIO
13.3.1 ACCESS BIO Company Information
13.3.2 ACCESS BIO COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.3.3 ACCESS BIO COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.3.4 ACCESS BIO Main Business Overview
13.3.5 ACCESS BIO Latest Developments
13.4 CTK Biotech
13.4.1 CTK Biotech Company Information
13.4.2 CTK Biotech COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.4.3 CTK Biotech COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.4.4 CTK Biotech Main Business Overview
13.4.5 CTK Biotech Latest Developments
13.5 SD Biosensor
13.5.1 SD Biosensor Company Information
13.5.2 SD Biosensor COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.5.3 SD Biosensor COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.5.4 SD Biosensor Main Business Overview
13.5.5 SD Biosensor Latest Developments
13.6 Ellume
13.6.1 Ellume Company Information
13.6.2 Ellume COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.6.3 Ellume COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.6.4 Ellume Main Business Overview
13.6.5 Ellume Latest Developments
13.7 InBios
13.7.1 InBios Company Information
13.7.2 InBios COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.7.3 InBios COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.7.4 InBios Main Business Overview
13.7.5 InBios Latest Developments
13.8 Celltrion
13.8.1 Celltrion Company Information
13.8.2 Celltrion COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.8.3 Celltrion COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.8.4 Celltrion Main Business Overview
13.8.5 Celltrion Latest Developments
13.9 AESKU.GROUP
13.9.1 AESKU.GROUP Company Information
13.9.2 AESKU.GROUP COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.9.3 AESKU.GROUP COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.9.4 AESKU.GROUP Main Business Overview
13.9.5 AESKU.GROUP Latest Developments
13.10 ROCHE
13.10.1 ROCHE Company Information
13.10.2 ROCHE COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.10.3 ROCHE COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.10.4 ROCHE Main Business Overview
13.10.5 ROCHE Latest Developments
13.11 BD
13.11.1 BD Company Information
13.11.2 BD COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.11.3 BD COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.11.4 BD Main Business Overview
13.11.5 BD Latest Developments
13.12 OraSure Technologies
13.12.1 OraSure Technologies Company Information
13.12.2 OraSure Technologies COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.12.3 OraSure Technologies COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.12.4 OraSure Technologies Main Business Overview
13.12.5 OraSure Technologies Latest Developments
13.13 Clip Health
13.13.1 Clip Health Company Information
13.13.2 Clip Health COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.13.3 Clip Health COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.13.4 Clip Health Main Business Overview
13.13.5 Clip Health Latest Developments
13.14 LumiraDx
13.14.1 LumiraDx Company Information
13.14.2 LumiraDx COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.14.3 LumiraDx COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.14.4 LumiraDx Main Business Overview
13.14.5 LumiraDx Latest Developments
13.15 Princeton BioMeditech Corporation
13.15.1 Princeton BioMeditech Corporation Company Information
13.15.2 Princeton BioMeditech Corporation COVID-19 Rapid Antigen Test Kits Product Portfolios and Specifications
13.15.3 Princeton BioMeditech Corporation COVID-19 Rapid Antigen Test Kits Sales, Revenue, Price and Gross Margin (2019-2024)
13.15.4 Princeton BioMeditech Corporation Main Business Overview
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