Rapid Antigen Testing Market size is anticipated to reach USD 62 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of rapid antigen testing was over USD 23 Billion. Rapid testing is in high demand as a result of the COVID-19 pandemic because people, companies, and governments want to find speedy ways to detect infected people and stop the virus from spreading. Also, the accuracy provided by these tests during the COVID-19 increased their demand during the pandemic. According to a study in 2022, antigen testing accurately detected COVID-19 infection in 73% of symptomatic individuals with confirmed COVID-19, compared to 55% of asymptomatic individuals. Rapid antigen testing is a crucial weapon in the pandemic response since it can yield results in as little as 15 minutes.
Several regulatory bodies, including the US FDA, the European Union, and other national regulatory bodies, have approved rapid antigen testing for use. Rapid antigen testing is now more widely available and used as a result of this. For instance, the Flowflex COVID-19 Antigen Home Test, the first and second COVID-19 at-home tests to satisfactorily pass traditional premarket evaluation, was approved for commercialization by the Food and Drug Administration on November 9.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7% |
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Base Year Market Size (2023) |
~ USD 23 Billion |
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Forecast Year Market Size (2036) |
~ USD 62 Billion |
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Regional Scope |
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Application (Sexually Transmitted Diseases, Autoimmune Diseases, Tropical Diseases, Liver Diseases)
Autoimmune diseases segment in the rapid antigen testing market is expected to hold the largest share of 43% during the forecast period. The growth of the segment is significantly driven by the increasing global prevalence of autoimmune illnesses. Millions of people throughout the world suffer from autoimmune illnesses like psoriasis, lupus, rheumatoid arthritis, and multiple sclerosis. Also, early identification and diagnosis of autoimmune disorders have been made easier by developments in diagnostic technology. Healthcare professionals may now diagnose autoimmune illnesses early on, improving patient outcomes and starting therapy sooner because of the development of more precise and dependable diagnostic techniques. Research and development related to autoimmune diseases are advancing quickly. As new understandings of the fundamental processes underlying autoimmune disorders emerge, prospective therapeutic targets and methods of care are being identified. Therefore, these factors are propelling the growth of the segment.
Technique (Immunosorbent Assay, Enzyme-linked Immunosorbent, Precipitation Reaction, Radioimmunoassay, Agglutination Reaction, Complement Fixation)
Rapid antigen testing market for immunosorbent assay segment is anticipated to hold a share of 33% during the forecast period. The main application of immunosorbent assay is the detection of antigens in the cerebrospinal fluid (CSF) of meningitis patients' Hemophilus, Streptococcus, and Cryptococcus organisms. These are widely employed in the diagnosis of Lyme disease, HIV, and viral hepatitis. Therefore, the growing cases of these diseases will propel the growth of the segment. According to a report, more than 1.34 million people worldwide lose their lives to viral hepatitis each year, a mortality toll that is equivalent to that of AIDS and tuberculosis. In addition, globally, chronic hepatitis is the cause of 78% of cases of liver cancer. Moreover, Directigen, QuickVue, Sofia, and BD Veritor are next-generation lateral flow Digital Immunoassay (DIA) techniques for the qualitative identification of RSV viral antigens. These are immunoassay-based fast diagnostics for RSV. Rapid RSV antigen testing is also the most popular test. Most RSV antigen tests are done at an emergency room, doctor's office, or on-site, and most results are available in an hour or less.
Our in-depth analysis of the global rapid antigen testing market includes the following segments:
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Technique |
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Application |
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End-user |
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North American Market Forecast
North American rapid antigen testing market is anticipated to hold 37% of the revenue share by 2036. Due to the increasing prevalence of antibiotic-resistant infections and respiratory illnesses, the market is growing. Additionally, the regional governments have put laws and programs into place to encourage the adoption of fast antigen testing. This entails supplying funds, increasing the number of tests available, and utilizing these tests in public health plans. Furthermore, the rapid antigen testing market for rapid antigen testing is expanding more quickly due to the existence of significant players like Abbott Laboratories, Quidel Corporation, and Roche Diagnostics.
APAC Market Statistics
Rapid antigen testing market in Asia Pacific is expected to grow at a steadfast rate with a share of 28% by the end of 2036. The rise in the number of infectious disease cases in the region is the reason for the growth. Additionally, the governments in the region are making significant investments in the healthcare sector. Additionally, people in the region are becoming more conscious of the necessity of quick antigen testing, which is propelling the market's expansion. Furthermore, Asia-Pacific presents a profitable opportunity for businesses in the rapid testing sector because of its sizable population base and increasing level of disposable income. According to a report, the Asia and Pacific region is home to 60% of the world's population (4.3 billion people), including the world's most populated countries, China and India. As a result, these factors are supporting the region's rapid antigen testing market expansion.
Author Credits: Radhika Gupta, Shivam Bhutani
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