Rapid Antigen Testing Market Size & Share, by Technique (Immunosorbent Assay, Enzyme-linked Immunosorbent, Precipitation Reaction, Radioimmunoassay, Agglutination Reaction, Complement Fixation); Application (Sexually Transmitted Diseases, Autoimmune Diseases, Tropical Diseases, Liver Diseases); End-user (Hospitals, Specialty Clinics, Diagnostic Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5849
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

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.


Rapid Antigen Testing Market overview
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Rapid Antigen Testing Maret: Growth Drivers and Challenges

Growth Drivers

  • Growing Adoption of Rapid Antigen Testing Kits for Diagnosis of Other Viral Infections - For the diagnosis of RSV or influenza, among other viral infections, rapid antigen testing may be helpful. The rapid antigen testing market for these tests may grow if businesses take the opportunity to create quick antigen tests for these additional viral illnesses. For instance, the manufacturing and distribution of "KANEKA Immunochromatography Flu A/B & SARS-CoV-2 Ag," which can test for COVID-19 (SARS-CoV-2) and influenza virus antigens in a single sample collection, have been approved for Kaneka Corporation. On May 31, the product was introduced as an in vitro diagnostic reagent. The product is offered for 19,800 yen (for ten tests) at suggested retail, tax included. Therefore, the growing adoption of rapid antigen tests for diagnosis of other viral diseases is escalating the rapid antigen testing market growth.
  • Growing Shift Towards Digitalization in the Healthcare Industry – The advancement of technology, particularly the internet and mobile devices, has brought about an enormous transformation in the healthcare industry. Tools like electronic health records, online appointments, and safe data storage have been utilized by both patients and healthcare professionals at healthcare institutions. Rapid antigen testing can be combined with digital technology, including cloud-based platforms or smartphone apps, to expedite the reporting and testing procedures. For instance, a leading global provider of medical technology, BD (Becton, Dickinson, and Company), announced the immediate availability of the ImageMover app in Canada. This mobile app is a companion to the BD VeritorTM Plus System and allows for more efficient management of SARS-CoV-2 antigen testing results, thereby lowering the need for manual documentation.
  • Growing Incidences of Infectious Diseases - Rapid and effective diagnostic methods are becoming more and more necessary due to the rising prevalence of infectious disorders like strep throat, influenza, and respiratory infections. As per a report, the average annual death toll from respiratory diseases is over 400,000. When new strains have emerged in big pandemics, the mortality toll has been significantly higher. Quick antigen testing provides results in a matter of minutes, facilitating prompt identification and suitable treatment of the illness. This facilitates prompt medical attention and helps stop the illness from spreading to other people. Therefore, the growing incidences of infectious diseases have increased the demand for rapid influenza diagnostics, which is propelling the rapid antigen testing market growth. 

Challenges

  • False Test Results May Impede the Market Growth - Rapid antigen testing does have certain restrictions, though. They have a higher percentage of false negative results and are less accurate than NAAT/PCR testing, especially when it comes to identifying asymptomatic cases. Therefore, if there is a strong suspicion of COVID-19 infection, negative results from fast antigen tests should be verified by an NAAT/PCR test. Therefore, this factor may hamper the growth of the rapid antigen testing market.
  • Limited Awareness Regarding Advanced Rapid Antigen Testing Which May Restrain the Market from Growing
  • Stringent Regulations by the Government for the Approval of Rapid Testing Products May Hamper the rapid antigen testing market from Growing

Rapid Antigen Testing Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 7%

Base Year Market Size (2023)

 ~ USD 23 Billion

Forecast Year Market Size (2036)

 ~ USD 62 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Rapid Antigen Testing Segmentation

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:

          Technique

  • Immunosorbent Assay
  • Enzyme-linked Immunosorbent
  • Precipitation Reaction
  • Radioimmunoassay
  • Agglutination Reaction
  • Complement Fixation

          Application

  • Sexually Transmitted Diseases
  • Autoimmune Diseases
  • Tropical Diseases
  • Liver Diseases

          End-user

  • Hospitals
  • Specialty Clinics
  • Diagnostic Centers

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Rapid Antigen Testing Industry - Regional Synopsis

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.

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Rapid Antigen Testing Market size
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Companies Dominating the Rapid Antigen Testing Landscape

top-features-companies
    • iHealth Labs, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • NeoDx Biotech Labs
    • Abbott Laboratories
    • Affinity Biologics, Inc.
    • Siemens Healthineers AG
    • Epitope Diagnostics, Inc.
    • Sino Biological, Inc.
    • R-Biopharma AG
    • Cell Biolabs, Inc
    • Thermo Fisher Scientific

In-the-news

In The News

  • August 2023 - The United States' leading provider of at-home COVID tests, iHealth Labs, Inc. (iHealth), a digital health startup, launched its Home Collection Kit for syphilis and HIV testing. Anyone over the age of 18 can use the FDA-approved method to take a blood sample in the privacy of their own home to test for syphilis and HIV (I, II, P24 antigen). They can mail the sample to the lab with a pre-paid overnight label and obtain accurate, private results in as little as two days.
  • September 2023 - NeoDx Biotech Labs, a Bengaluru-based business, has introduced an in vitro diagnostic (IVD) kit for Ankylosing Spondylitis that uses real-time PCR technology. This kit enables healthcare services to enhance their testing capabilities. The HLA-B27 RT-PCR detection kit for Exon 2/Exon 3 is a real-time PCR test kit that is used to identify Human Leukocyte Antigen B27 in whole blood. HLA-B27 has a strong correlation with the inflammatory conditions of Ankylosing Spondylitis (AS), Psoriasis, Inflammatory Bowel Disease, and Reactive Arthritis. HLA-B27 testing can help in the early diagnosis and treatment of various conditions.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5849
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing adoption of rapid antigen tests for diagnosis of other viral infections, growing shift towards digitalization in the healthcare industry, and growing incidences of infectious diseases are the major factors driving the growth of the rapid antigen testing market.

The market size of Rapid Antigen Testing is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024- 2036.

The major players in the market are iHealth Labs, Inc., NeoDx Biotech Labs, Abbott Laboratories, Affinity Biologics, Inc., Siemens Healthineers AG, Epitope Diagnostics, Inc., Sino Biological, Inc., R-Biopharma AG, Cell Biolabs, Inc, Thermo Fisher Scientific, Kaneka Corporation, FUJIFILM Corporation, Otsuka Pharmaceutical Co., Ltd., Hitachi, Ltd., Shionogi & Co., Ltd. and others.

The autoimmune diseases segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Rapid Antigen Testing Market Report Scope
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