PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299771
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299771
Rapid POC COVID-19 antigen market size was valued at USD 3.056.1 Million in 2022, expanding at a CAGR of 8.8% from 2023 to 2030.
Rapid POC COVID-19 Antigen is based on various formats and technology for detecting infected individuals and stopping further person-to-person transmission. Additionally, it offers faster results and is cost-effective as compared to other antibody tests. Moreover, rapid POC COVID-19 antigen is easy to use because it required no or little specialist training and it can be deployed in a high-risk environment such as educational institutions & homes.
Immense requirements for rapid diagnostics, government testing for coronavirus, and a rise in product approval by regulatory bodies are major factors expected to drive the demand for a rapid POC COVID-19 Antigen market globally. However, the end of the pandemic and a decrease in the number of cases may restrain the market growth over the forecast period.
Moreover, the growth of rapid POC COVID-19 antigen increased owing to its increased public health awareness globally. Furthermore, the detection of new coronavirus strains has increased development and research efforts in the rapid POC COVID-19 antigen sector. The pandemic has increased the rapid POC COVID-19 antigen sector, and companies Endeavour to develop accurate and quick viral detection technologies.
The Global Rapid POC COVID-19 Antigen Market is segmented on the basis of Handling, Type, End-Use, and Region.
The market is divided into one category based on Handling: RNA extraction systems. The adoption of RNA extraction systems across government bodies, public health laboratories, hospitals, and commercial laboratories has resulted in the growth for this segment.
The market is divided into four categories based on type: nasopharyngeal (np) swab, oropharyngeal (op) swab, nasal swabs, and saliva. Rising demand for testing swabs to detect COVID-19. Additionally, nasopharyngeal (np) swab required by several molecular diagnostic test that further expected to increase the segment demand.
The market is divided into four categories based on end-use: hospitals, home care, diagnostic centers & clinics, and others. The hospital sector is expected to possess the market share. Increasing cases of COVID-19 test being conducted to inhibit the spread of infection this can be attributed to increase the demand for hospital sector.
Market players in the market for rapid POC COVID-19 antigen are implementing several strategies such as strategic collaborations, R&D spending, mergers & acquisitions, and geographical expansion to expand their market presence. Moreover, rising investment and funding by various public and private organizations to boost the development of POC SARS-CoV-2 diagnostic tests is expected to increase the demand for the rapid POC COVID-19 antigen market. Additionally, an increase in the number of COVID-19 patients even after vaccination is projected to propel market revenue. For instance, in April 2021, IIT Kharagpur announced COVIRAP, Its Nucleic acid-based POC Diagnostic Device for COVID-19 Diagnosis. The more advanced version of COVIRAP has been developed by the research team using a step-wise isothermal nucleic acid testing technology for the rapid diagnostics of pathogenic infections such as SARS-CoV-2 in individuals.
This proposed research study on rapid POC COVID-19 antigen market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for rapid POC COVID-19 antigen market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Rapid POC COVID-19 Antigen market
Impact of COVID-19 on rapid POC COVID-19 antigen market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on rapid POC COVID-19 antigen market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the rapid POC COVID-19 antigen market, we have also included competitive landscape and key innovator analysis for the rapid POC COVID-19 antigen market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the rapid POC COVID-19 antigen market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global rapid POC COVID-19 antigen market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
The scope of this report covers the market by its major segments, which include as follows: