The top seed Dane was tested positive for Covid-19 after his 21-14,21-14 win over Finland's Kalle Koljonen in the semi-finals on Saturday.
In a statement from Badminton World Federation (BWF) today (May 2), it said that the positive test result would have to be confirmed through a second PCR test that was conducted later on Saturday.
The result from the second test is expected to come Sunday morning Ukraine time.
Said Badminton Europe deputy general secretary: "An amazing badminton day just became very dark here in Kyiv – no one wanted this to happen, and all we can do is to hope for a negative test answer on the second test, although it is unlikely."
Axelsen is slated to play compatriot Anders Antonsen in the final but the latter should win it via a walkover.