COVID-19 Antigen Test Market size is expected to reach USD 8.3 billion by 2027
COVID-19 Antigen Test Industry Overview The global COVID-19 antigen test market size was valued at USD 5.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2027. The COVID-19 antigen tests are gaining traction in the current scenario, as it is easy to use, patient-friendly, and has a shorter test-to result timeline. Timeline and scalability challenges pertaining to SARS-CoV-2 PCR testing are the primary factors that are increasing the uptake of antigen-based test approaches in turn driving the growth of the market. The emergence of COVID-19 variants in the U.K., South Africa, and Brazil, which are found to be more transmissible than the original strain, intensified the need for rapid tests. Rising concern over the spread and frequency of these variants is expected to fuel the demand for widespread testing. Owing to this, the market for COVID-19 antigen tests is expected to witness lucrative growth in the near future. ...