Overview of Covid-19 Rapid Antigen Tests

Covid-19 rapid antigen tests are seeing massive revenue growth. The popularity of these tests can be attributed to their ease of use. In-vitro diagnostics are moving from hospital laboratory-based testing to more rapid testing that can be performed at the point of care, either in a physician’s office or at home. With rapid tests, the individual can get test results in a matter of minutes from the comfort of their own homes.

Rapid Covid-19 antigen tests test for viral protein, rather than viral genomic DNA which the traditional polymerase chain reaction (PCR) based Covid-19 tests detect. The technology of antigen tests allows them to be easily packaged and easily used in a similar way to a home pregnancy test, which uses the patient sample to give a colourimetric result on a dipstick.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Serial Covid-19 testing performed for essential workers who are at high risk, such as teachers, is difficult to perform using PCR technology where the individual has to go to a testing site, can cost $100, and can take between two to three days to receive a test result. There is a clear benefit of rapid antigen tests, which can be performed on-site with results delivered in a matter of minutes.

Abbott is positioned to be the leading manufacturer of Covid-19 rapid antigen tests. Abbott reported first-quarter growth of 35.3% year-over-year, driven by significant growth in Rapid Diagnostics, which grew by 302.8% year-over-year worldwide. Abbott’s rapid antigen BinaxNOW Covid-19 Self-Test, an over-the-counter (OTC) test for people with or without symptoms, can now be found in the US at most CVS Pharmacies, Walgreens and Walmart stores without a prescription. This is the first of its kind Covid-19 diagnostic to be a readily and widely available OTC test.

GlobalData predicts that rapid Covid-19 antigen tests will gain market share this year in the Covid-19 testing market as the market continues to shift towards rapid tests, which provide the benefits of easy, at-home testing and allow the individual to receive results in minutes. GlobalData also expects the successful development and deployment of rapid Covid-19 antigen tests to pave the way for the shift towards rapid in-vitro diagnostics that can be performed at the point of care.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.