COVID-19 Antigen Test Market Pegged For Strong Growth During 2021-2027: Grand View Research Inc.

 COVID-19 Antigen Test Market Growth & Trends 

The global COVID-19 antigen test market size is expected to reach USD 8.3 billion by 2027, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 6.7% from 2021 to 2027. 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.

With the expected decline in COVID-19 cases, PoC tests can become critical in the determination of infected individuals and asymptomatic carriers to assure their isolation from the general population. While this test mode is currently unavailable for large-scale use, both private and public organizations across the globe are working on prototypes, with over 50 currently in development.

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COVID-19 Antigen Test Market Report Highlights

• The services segment dominated the market and accounted for the largest revenue share in 2020 owing to the increasing usage of Rapid Antigen Tests (RATs) by service providers including labs, hospitals, and others
• The reagents and kits segment is anticipated to register the fastest CAGR over the forecast period due to the rising popularity of self-administered test kits
• The clinics and hospitals segment dominated the market in 2020 with the highest test penetration in terms of usage in this end-use segment
• The home care segment is projected to grow at a lucrative pace during the forecast period owing to the increased approval of over-the-counter tests with no prescription required
• In Asia Pacific, the market captured maximum revenue share in 2020 with India as one of the key users of antigen tests
• On the contrary, the approval and adoption of antigen tests in western countries is relatively slow
• However, with the increase in the number of cases, in the U.S., key diagnostic developers have begun antigen test development and are planning to ship test kits in bulk to healthcare practitioners
• The key players are engaged in collaboration with biopharma developers to support their product development process

Access Press Release@ https://www.grandviewresearch.com/press-release/global-covid-19-antigen-tests-market

COVID-19 Antigen Test Market Segmentation

Grand View Research has segmented the global COVID-19 antigen test market on the basis of product and service, end use, and region:

COVID-19 Antigen Test Product & Service Outlook (Revenue, USD Million, 2020 - 2027)

• Platforms
• Reagents & Kits
• Services

COVID-19 Antigen Test End-use Outlook (Revenue, USD Million, 2020 - 2027)

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

COVID-19 Antigen Test Regional Outlook (Revenue, USD Million, 2020 - 2027)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Italy
  • France
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • South Korea
  • Australia
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia

List of Key Players of COVID-19 Antigen Test Market

• Abbott
• SD Biosensor Inc.
• Mylab Discovery Solutions Pvt Ltd.
• Vishat Diagnostic Pvt. Ltd
• GenBody Inc.
• Hoffmann-La Roche AG
• Access Bio., Inc.
• ADS biotech Inc.
• PerkinElmer, Inc.
• Princeton BioMeditech Corporation
• Becton, Dickinson and Company
• Diasorin S.P.A
• Quidel Corporation
• Laboratory Corporation Of America

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.