Global COVID-19 Antigen Test Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global COVID-19 Antigen Test Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Antigen tests are commonly used in the diagnosis of respiratory pathogens, including influenza viruses and respiratory syncytial viruses. A COVID-19 antigen test detects coronavirus proteins in the mouth and throat. This test determines whether a patient is currently infected with COVID-19. COVID-19 antigen tests typically involve a swab of the patients nose and throat (sample can also be saliva or blood). This sample is then analyzed using the same underlying processes as a pregnancy test. Results are typically available within 15 to 30 minutes of the sample being analyzed, meaning a patient on-site may have their results before they leave. The companies involved in manufacturing these COVID-19 antigen tests are primarily engaged in designing, researching, and production of COVID-19 antigen tests which are used in hospitals and clinics, home care, diagnostic center, and more.

Market Overview:

The latest research study on the global COVID-19 Antigen Test market finds that the global COVID-19 Antigen Test market reached a value of USD 11811.65 million in 2022. It’s expected that the market will achieve USD 3250.4 million by 2028, exhibiting a CAGR of -19.35% during the forecast period.

The overall impact of the Covid-19 pandemic on the industry

Covid-19 pandemic has shown a positive impact on growth of global rapid Covid-19 antigen test market. During Covid-19 pandemic, the requirement of rapid Covid-19 antigen tests has shown tremendous increase due to the rising number of covid-19 cases worldwide. Additionally, the outbreak of Covid-19 has set out a vital opportunity for manufacturers to increase rapid diagnostic test kit supplies to contain the spread of Covid-19 disease. Also, number of government and private organizations are invested in the development of kit Covid-19 kit for the treatment of Covid-19 patients. For instance, Cipla and Premier Medical Corporation Private Limited announced a partnership for the quick antigen test of Covid-19 commercialization in Indian 2020. However, due to the lockdown procedures, the supply chain is still disturbed and made it troublesome for players to predict the industry's regaining.

Growing Occurrence of Coronavirus to Drive Demand for Diagnostic Gadgets & Kits

The exponential growth in the transmittable coronavirus disease resulting in a global pandemic has led to the intensifying demand for COVID-19 diagnostic measures and products. According to the Worldometer figures, there has been a constant escalation in novel daily cases across the world. According to the Worldometer, as of 15th February 2022, 414,072,705 people globally are impacted with coronavirus. Such prompt everyday surge in cases has rushed the implementation of Covid-19 antigen test so as to deliver timely treatment to patients.

Increasing demand

Products in the global COVID-19 antigen test market are expected to gain traction during the forecast period owing to their benefits such as shorter test to result timeline, as well as their patient friendly and easy to use nature. A COVID-19 antigen test can help fill the gap in the testing landscape by enabling fast diagnoses in clinical settings. With the rising number of new infection cases coupled with the increasing popularity of antigen testing, a substantial number of companies are making significant attempts to boost their market presence in this arena, thereby driving the market. Antigen-based screening for acute phase diagnosis is gaining momentum, as antigens are more evident in the sputum from the onset of symptoms. Moreover, integration of antigen detection in disease screening enables its use for PoC, community-wide, or door-to-door testing. This mode of testing can deliver results in real-time, and thus, help accelerate patient admission and treatment processes, leading to improved patient outcomes. Additionally, factors such as high costs of tests in hospital laboratories and long wait-time for results, probability of getting infected in hospitals, and emergence of new players in the market are likely to house several opportunities for growth in this domain. Furthermore, scalability and timeline challenges regarding the PCR testing for SARS-CoV-2 virus are among the major factors resulting in increased uptake of the products in the global COVID-19 antigen test market.

Substitutes threat and its own limitation of antigen tests

Two major types of tests are used to diagnose infection with SARS-CoV-2: molecular tests better known as PCR tests and antigen tests. Each detects a different part of the virus, and how it works influences the tests speed and relative accuracy. The amplifying property of PCR allows the test to successfully detect even the smallest amount of coronavirus genetic material in a sample. This makes it a highly sensitive and accurate test. With accuracy that approaches 100%, it is the gold standard for diagnosing SARSCoV2. Antigen tests do have some drawbacks. Depending on the situation, they can be less accurate than PCR tests. When a person is symptomatic or has a lot of virus in their system, antigen tests are very accurate. However, unlike molecular PCR tests, antigen tests dont amplify the thing they are looking for. This means there needs to be enough viral antigen in the sample for the antibodies on the test strip to generate a signal. When a person is in the early stages of infection, not a lot of virus is in the nose and throat, from which the samples are taken. So, antigen tests can miss early cases of COVID-19. Its also during this stage that a person has no symptoms, so they are more likely to be unaware theyre infected. Some people in the early or late stages of infection may therefore return a false result, although this is not common.

Region Overview:

Geographically, Europe held the largest market share -- 43.57% in 2022.

Company Overview:

Quidel Corporation is one of the major players operating in the COVID-19 Antigen Test market, holding a share of 9.04% in 2022.

Quidel Corporation

A leading manufacturer of diagnostic healthcare solutions based in California, dedicated to improving the health and well-being of people around the world by developing diagnostic solutions that can accurately and quickly diagnose infectious and cardiovascular diseases.

Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a diversified line of health care products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices.

Segmentation Overview:

As for product types, the Chromatographic Immunoassay segment held the largest market share in 2022.

Chromatographic Immunoassay

A chromatographic immunoassay is a technique in which an antibody or antibody-related agent is used as part of a chromatographic system for the isolation or measurement of a specific target.

Fluorescent Immunoassay

Fluorescence immunoassay is a sensitive technique that can be used in the measurement of many compounds, including drugs, hormones, and proteins; in the identification of antibodies; and in the quantification of antigens such as viral particles and, potentially, bacteria.

Application Overview:

The market's largest segment by application is the segment Home Care, with a market share of 35.79% in 2022.

Key Companies in the global COVID-19 Antigen Test market covered in Chapter 3:

Siemens Healthineers
Quidel Corporation
Biosynex
Cipla
Abbott Laboratories
SD Biosensor
Roche Diagnostics
Zhejiang Orient Gene Biotech Co., Ltd
Sansure Biotech
LumiraDX UK Ltd.
Guangzhou Wondfo Biotech Co., Ltd.
BD
Beijing Hotgen Biotech Co., ltd.
Vazyme Medical

In Chapter 4 and Chapter 14.2, on the basis of types, the COVID-19 Antigen Test market from 2018 to 2029 is primarily split into:

Chromatographic Immunoassay
Fluorescent Immunoassay
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the COVID-19 Antigen Test market from 2018 to 2029 covers:

Hospitals& Clinics
Diagnostic Center
Home Care

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)