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Global COVID-19 Antigen Test Market to Continue Being Driven by Evolution of New SARS-CoV-2 Strains

By LabMedica International staff writers
Posted on 22 Sep 2021
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The global COVID-19 antigen test market is witnessing increasing demand due to the evolution of new strains of the SARS-CoV-2 virus and increasing spikes in the instances of new COVID-19 infections.

These are the latest findings of Transparency Market Research (Albany, NY, USA), a next-generation market intelligence provider.

Products in the global COVID-19 antigen test market are expected to gain traction owing to their benefits such as shorter test-to-result timeline, as well as their patient-friendly and easy-to-use nature. Furthermore, scalability and timeline challenges regarding PCR testing for the SARS-CoV-2 virus are among the major factors resulting in increased uptake of products in the global COVID-19 antigen test market. Moreover, the emergence of several COVID-19 variants in countries such as Brazil, the UK, and South Africa has intensified the requirement for enhanced and rapid testing products, thus fueling the growth of the global COVID-19 antigen test market. Increasing concerns over the frequency as well as spread of these variants are also anticipated to favor the expansion of the global COVID-19 antigen test market. Furthermore, increased demand for low cost rapid test kits for conducting large scale testing in order to control the spike in COVID-19 cases in various underdeveloped economies is also expected to favor the expansion of the global COVID-19 antigen test market over the coming years.

Additionally, the rising number of product approvals as well as emergency use authorizations by regulatory bodies, coupled with various technological collaborations between several operating entities, is expected to intensify the competitive landscape of the global COVID-19 antigen test market, going forward. Geographically, Asia Pacific is anticipated to account for the largest share of the global COVID-19 antigen test market in terms of revenue, mainly due to the strong presence of various regional and local players who are actively innovating newer antigen tests, as well as the introduction of various new products by several up and coming start-ups in the region.

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