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

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

One type of rapid diagnostic test (RDT) detects the presence of viral proteins (antigens) expressed by the COVID-19 virus in a sample from the respiratory tract of a person. If the target antigen is present in sufficient concentrations in the sample, it will bind to specific antibodies fixed to a paper strip enclosed in a plastic casing and generate a visually detectable signal, typically within 30 minutes. The antigen(s) detected is expressed only when the virus is actively replicating; therefore, such tests are best used to identify acute or early infection.

Market Overview:

The latest research study on the global COVID-19 Antigen Testing Kits market finds that the global COVID-19 Antigen Testing Kits market reached a value of USD 11393.75 million in 2022. It’s expected that the market will achieve USD 2291.77 million by 2028, exhibiting a CAGR of -23.45% during the forecast period.

COVID-19 Antigen Testing Kits Market Challenges

A big disadvantage is that it correctly detects the sensitivity or speed of coronavirus infection. A typical PCR test can detect a single RNA molecule in a microliter of solution, and an antigen test requires samples containing thousands to tens of thousands of virus particles per microliter to produce a positive result. This shortcoming means that people with low levels of virus in their bodies may not be detected, or insufficient sample collection may lead to false negatives. Basically, the test can say that someone is not actually infected with the virus. Sensitivity affects the effectiveness of the antigen detection kit, which is a big challenge for future development.
Increased market demand, especially the large-scale infection problem brought about by the COVID-19 variant. Many major biotech and pharmaceutical companies have developed their own rapid test kits, and many companies are still investing, researching and working to develop better and more advanced rapid test kits. The fierce market competition has put forward higher requirements for seizing market share.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Abbot Laboratories, Roche Diagnostics and Quidel Corporation with the revenue market share of 28.01%, 21.47% and 15.01% in 2020.

Roche Diagnostics differentiates itself through innovation in testing efficiency and medical value We develop evidence-based diagnostic tests that address unmet medical needs. Our tests and highly efficient laboratory solutions help improve people's health and quality of life.

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:

Among different product types, Chromatographic Immunoassay segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Home Care segment occupied the biggest share from 2018 to 2022.

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

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

In Chapter 4 and Chapter 14.2, on the basis of types, the COVID-19 Antigen Testing Kits 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 Testing Kits market from 2018 to 2029 covers:

Hospitals& Clinics
Diagnostic Center
Home Care
Others

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)