COVID-19 Rapid Antigen Test Kits Market Report 2022-2027: Increasing Donations of Covid-19 Rapid Antigen Test Kits & Rising Covid-19 Cases Driving Growth

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Jul 12, 2022, 10:45 ET

DUBLIN, July 12, 2022 /PRNewswire/ -- The 'COVID-19 Rapid Antigen Test Kits Market - Global Outlook & Forecast 2022-2027' report has been added to ResearchAndMarkets.com's offering.

The global COVID-19 rapid antigen tests market is a new demanding market. The market is growing at a rapid pace due to the COVID-19 pandemic and will become a normal market like other infectious diseases.

The currently available rapid antigen tests include point-of-care (POC) and laboratory-based tests, as well as self-tests performed at home, and they are commercially available to people of any age. A rapid antigen test is one of the widely used diagnostic tests to diagnose COVID-19 presence in an individual with or without symptoms. It offers a faster result and is relatively less expensive than PCR (polymerase chain reaction) or antibody tests.

The testing plays a significant role in containing and mitigating the pandemic by identifying the infected individual and stopping further person-to-person transmission. Rapid antigen testing is one of the primarily performed COVID-19 tests globally.

This diagnosis determines the portion of virus protein and can give results within 15 minutes. Initially, the PCR was considered the gold standard for COVID-19 diagnosis. However, over time, usage of rapid diagnostics kits has increased, and also, the vendors have introduced highly sensitive COVID-19 rapid tests kits.

Benefits of COVID-19 Rapid Antigen Testing
One of the significant advantages of people preferring rapid antigen testing devices is its quick results and more economic ability than other testing devices in the market. The demand for rapid COVID-19 antigen test kits is growing due to their low cost and easy use. The government in many countries is widely making the test kits available at a discounted price, which is one of the major factors boosting the adoption rate of home test kits.

Raise in Infection Spread
Multiple variants of the COVID-19 virus were identified across the globe. Governments started providing authorization for the emergency use of numerous test kits to increase access to COVID-19 tests. Countries such as the US and the UK started providing free home test kits, which has led to the high adoption of home test kits as these devices can be used without professional guidance.

Technological Advancements in COVID-19 Rapid Testing
Vendors designed various new rapid testing kits such as cups and cards and smart test kits, which were more sensitive and provided better results, almost equal to gold-standard PCR testing. There were painless rapid testing kits that used saliva samples. Test kits providing results in a shorter time were also introduced in the market.

Mass Testing Strategy Among Countries & Robust Fundings for COVID-19 Testing
Robust testing strategies are seen as a significant aspect of preparedness and response to the COVID-19 pandemic, early detection of infection rates, and transmission, among others. Many countries started conducting COVID-19 mass testing strategies to reduce the spread of infections.

People traveling from other countries were tested in airports, and migrating within-country required covid-19 certificates. Many were also tested on the spot using rapid test kits to reduce the spread of infections. Many NGOs, large regulatory bodies, and companies started manufacturing the COVID-19 test kits to tap the opportunity in the market. The increased investments made the companies increase their production volume. This, in turn, vastly increased the opportunities for COVID-19 rapid testing in the market.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at Glance

7 Introduction

8 Market Opportunities & Trends
8.1 Technological Advances in Covid-19 Rapid Test Kits
8.2 Increasing Mass Testing for Covid-19
8.3 Introduction of Covid-19 Home Testing Kits

9 Market Growth Enablers
9.1 Robust Funding & Investments to Scale Up Covid-19 Test Kit Production
9.2 Increased Product Launches
9.3 Increasing Donations of Covid-19 Rapid Antigen Test Kits
9.4 Rising Covid-19 Cases

10 Market Growth Restraints
10.1 Increased False Positive & False Negative Results
10.2 Increasing Non-Regulated Generic Test Kits
10.3 Defective Generic Test Kits

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis

12 Prescription
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Professional
12.4 At-Home/Otc

13 End-User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospitals & Clinics
13.4 Laboratories
13.5 Individuals/ Homecare
13.6 Others

14 Geography
14.1 Market Snapshot & Growth Engine
14.2 Geographic Overview

15 Europe

16 North America

17 APAC

18 Middle East & Africa

19 Latin America

20. Competitive Landscape

Companies Mentioned