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Soaring Demand Set to Propel COVID-19 Antigen Test Market to $10.08 Billion by 2029
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the COVID-19 Antigen Test Market Through 2025?
The antigen test market related to covid-19 has experienced substantial expansion over the last few years, projected to increase its valuation from $7.13 billion in 2024 to $7.59 billion the following year, demonstrating a compound annual growth rate of 6.5%; this upward trajectory during the past period was influenced by factors such as the emergence of the pandemic outbreak, the granting of fast-track regulatory clearances, difficulties within the supply chain infrastructure, various governmental programs, and worldwide initiatives dedicated to vaccination campaigns.
What's the Projected Size of the Global COVID-19 Antigen Test Market by 2029?
Antigen testing for COVID-19 is projected to experience considerable expansion over the forthcoming years, reaching a valuation of $10.08 billion by 2029, propelled by a 7.3% compound annual growth rate during this projection timeframe, with this upward trajectory being fueled by the broader adoption of testing at the point of care, ongoing monitoring for novel viral forms, sustained public health initiatives, heightened market rivalry, the emergence of new strains, and the persistent nature of the health crisis, while significant shifts anticipated within this period encompass the creation and authorization of advanced antigen testing methods, the incorporation of digital tools and mobile phone capabilities for transmitting test outcomes, the broadening of testing facilities within environments posing elevated risks, a rising consumer appetite for testing kits utilized in domestic settings, a pronounced focus on devising testing methods that are both reasonably priced and readily available, alongside persistent scientific endeavors aimed at developing antigen tests tailored to specific viral variants.
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Top Growth Drivers in the COVID-19 Antigen Test Industry: What's Accelerating the Market?
The increasing adoption of devices individuals can use themselves is projected to accelerate the expansion within the COVID-19 antigen testing sector moving ahead. These self-test kits comprise diagnostic tools intended for personal application, eliminating the prerequisite of healthcare staff or specially trained personnel being physically present to perform the analysis within the home setting. Greater reliance on these individual-use testing solutions enhances access to COVID-19 antigen detection, contributing to a deceleration in viral transmission and enabling the identification of infected persons directly from their residences. To illustrate this trend, data from the Centers for Disease Control and Prevention, a national health safeguarding body located in the United States, indicated a substantial surge in at-home COVID-19 testing among American adults aged eighteen and above when comparing the Delta wave phase (spanning August through December 2021) with the subsequent Omicron phase (from December 2021 to March 2022). Specifically, among those surveyed reporting symptoms indicative of COVID-19, the utilization of at-home testing climbed sharply from 5.7 percent up to 20.1 percent. Consequently, the growing preference for self-administered testing instruments serves as a primary catalyst fueling the expansion of the COVID-19 antigen test market.
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What Are the Main Segments in the COVID-19 Antigen Test Market?
The covid-19 antigen testmarket 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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Which Top Companies are Driving Growth 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 dic*kinson 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 Regions Will Dominate the COVID-19 Antigen Test Market Through 2029?
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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