1. Market Research
  2. > Healthcare
  3. > Medical Device
  4. > In Vitro Diagnostics Market Trends
COVID-19 Rapid Test Kits Global Market Report 2022

COVID-19 Rapid Test Kits Global Market Report 2022

  • May 2022
  • 200 pages
  • ID: 6280856
  • Format: PDF
  • The Business Research Company


Table of Contents

Major players in the COVID-19 rapid test kits market are Thermo Fisher Scientific, Abbott Laboratories, BioMedomics, CTK Biotech, F. Hoffmann-La Roche AG, Cepheid Inc., Cellex Inc., Acumen Research Laboratories, Biolidics, and LabCorp.

The global COVID-19 rapid test kits market is expected to decline from $21.57 billion in 2021 to $6.57 billion in 2022 at a compound annual growth rate (CAGR) of -69.5%. The market is expected to decline to $0.01 billion in 2026 at a compound annual growth rate (CAGR) of -80.8%.

The COVID-19 rapid test kits market consists of sales of rapid test kits used for COVID-19 diagnosis and detection.The COVID-19 rapid test kits are either rapid antigen test kits or rapid antibody test kits manufactured by the entities that manufacture in-vitro rapid diagnostic tests in the medical equipment industry.

The companies involved in manufacturing these rapid test kits are primarily engaged in designing, researching, and production of the rapid test kits which are used in hospitals and clinics, home care, diagnostic laboratories, and more.

The COVID-19 rapid test kits market covered in this report is segmented by test type into rapid antigen test, rapid antibody test, and others.The rapid antigen test kits are used to detect the antigens related to the COVID-19 virus.

It is also segmented by kit type into equipment and extraction kits, and reagents and by specimen type into nasopharyngeal swab, oropharyngeal swab, nasal swab, blood sample, and others. The various end-users are hospitals and clinics, diagnostic laboratories, home care, and others.

Government regulations and steps to provide diversified diagnostic approaches are expected to boost the market growth during the forecast period.Better diagnostics facilities are required to overcome the increasing spread of COVID-19 cases globally, particularly in the rising geriatric population.

In March 2020, the FDA has approved decentralized testing platforms to enlarge the testing capabilities across healthcare centers in the US.FDA issued a policy, under which, states can set up their platforms for authorizing the tests developed and the laboratories developing these tests need not engage with the FDA instead will engage with the respective state authorities.

National Institutes of Health (NIH) has announced a Rapid Acceleration of Diagnostics (RADx), which is a fast track program for COVID-19 test development and distribution procedure under which it will be funding up to $500 million for the development of innovative SARS-CoV-2 diagnostic tests. Robust funding and investments by the public as well as private agencies for the rapid and innovative development of diagnostics for COVID-19 are expected to further boost the market.

Product recalls due to quality control issues are expected to hinder the market growth during the forecast period.Rapid medical device approval due to the present COVID-19 scenario paves the way to challenges such as product recalls due to safety, efficacy, and quality issues.

In May 2020, Spartan Bioscience’s rapid COVID-19 diagnostic kits which were approved with fast track designation April 2020 were recalled due to efficacy concerns posed by Health Canada regarding its proprietary swab.Health Canada paused the regulatory approval of the test kit and till then permitted the Spartan rapid test kit to be used for research purposes only.

In April 2020, India recalled rapid-antibody testing kits imported from China due to efficacy issues, and all the procurement orders from China have also been canceled. The lack of proper screening and quality assurance along with fast track approval is expected to increase the product recalls which will hinder the market growth.

The incorporation of Artificial Intelligence (AI) algorithms with the rapid diagnostic test kits are expected to boost market growth during the forecast period. In March 2020, Surgisphere announced the availability of a rapid diagnostic intelligent tool for COVID-19 that it developed to utilize three laboratory tests with a sensitivity of 93.7% and specificity of 99.9% to identify patients who are likely to be infected with Coronavirus. Surgisphere created a decision tree analysis to identify patients who are likely to be infected with Coronavirus, using clinical lab data of patients in the QuartzClinical platform which is a cloud-based healthcare data analytics platform. Early detection of patients results in faster treatment and thus saves more lives which can be achieved through the use of artificial intelligence along with the rapid diagnosis test.

In April 2020, Hememics Biotechnologies Inc., a US-based research and development company announced a partnership with Biomedical Research and Development Authority (BARDA) to develop a rapid antigen and antibody diagnostic tool which is Bluetooth-enabled. Under the partnership, BARDA will contribute $638,000 to Hememics for the manufacturing and scaling up production of the immune biosensor platform, which is a Bluetooth-enabled rapid diagnostic kit that screens people within 60 seconds with a single drop of blood or mucus. Biomedical Advanced Research and Development Authority (BARDA) is an office of US HHS, which takes measures against bioterrorism, epidemic, and pandemic diseases.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the COVID-19 rapid test kits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Lancet Market Research Report by Type, Application, End User, State - United States Forecast to 2027 - Cumulative Impact of COVID-19

  • $ 2949
  • April 2022
  • 109 pages

Lancet Market Research Report by Type (Personal Lancets and Safety Lancets), Application, End User, State (Ohio, New York, and Florida) - United States Forecast to 2027 - Cumulative Impact of COVID-19 The ...

  • United States
  • Diagnostics
  • Marketing Research
  • Industry analysis


Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on