COVID-19 Antigen Kit Market size was valued at USD 5.3 Billion in 2024 and is projected to reach USD 9.2 Billion by 2033, exhibiting a CAGR of 7.5% from 2026 to 2033.
South Korea's COVID-19 Antigen Kit Market has experienced significant evolution, driven by government initiatives and industrial collaboration. The market generated USD 423.4 million in revenue in 2023 and is projected to reach USD 687.9 million by 2030, growing at a CAGR of 7.2%.
Key product types include:
Over-the-Counter Rapid Diagnostic Tests (OTC RDTs): These kits have become the largest revenue-generating segment, offering convenience for at-home testing.
Professional RDTs: Utilized in clinical settings, these kits provide quick results for healthcare professionals.
The demand for these kits spans various industries:
Healthcare Facilities: Hospitals and clinics rely on antigen kits for rapid diagnosis and patient management.
Pharmaceutical Companies: These firms use antigen kits for research and development purposes.
Public Health Agencies: Government bodies employ these kits for mass testing and surveillance.
Educational Institutions: Schools and universities utilize antigen kits to monitor and control outbreaks.
South Korea's proactive approach, including fast-tracking approvals and fostering public-private partnerships, has enabled rapid development and distribution of antigen kits. The country's experience with the MERS outbreak in 2015 led to strengthened infectious disease governance and increased investment in biotech research.
Manufacturers like SD Biosensor have significantly increased production capacities to meet soaring demand. For instance, SD Biosensor expanded its annual production capacity to 250 million kits as of February last year, ensuring a stable supply to community health centers, medical clinics, and pharmacies.
Despite the growth, challenges such as fluctuating demand and raw material costs persist. However, South Korea's emphasis on quality control and regulatory compliance continues to position its antigen kit market as a global leader.
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Assay Genie
Arista Biotech
Becton
Ellume
iHealth Lab
Quest Diagnostics
Abbott
Quidel
BioFire Diagnostics
BGI Genomics
BioMedomics
Cepheid
Chembio Diagnostics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea COVID-19 Antigen Kit Market
Nasopharyngeal Swabs
Nasopharyngeal Aspirate
Saliva-Based Tests
Combined Test Kits
Hospitals
Diagnostic Laboratories
Clinics
Home Care Settings
Pharmacies
Online Sales
Pharmaceutical Distribution
Direct Sales
Retail Stores
Clinical Testing
Emergency Screening
Self-Testing
Workplace Screening
Immunochromatographic Assays
Enzyme-Linked Immunosorbent Assay (ELISA)
Reverse Transcription-Polymerase Chain Reaction (RT-PCR) Integration
Microfluidics Technology
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea COVID-19 Antigen Kit Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea COVID-19 Antigen Kit Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea COVID-19 Antigen Kit Market, By Type
6. South Korea COVID-19 Antigen Kit Market, By Application
7. South Korea COVID-19 Antigen Kit Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea COVID-19 Antigen Kit Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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