diff --git a/include/seastar/testing/perf_tests.hh b/include/seastar/testing/perf_tests.hh
index 8ee5180d98..a60a4c1b91 100644
--- a/include/seastar/testing/perf_tests.hh
+++ b/include/seastar/testing/perf_tests.hh
@@ -26,6 +26,7 @@
 
 #include <fmt/format.h>
 
+#include <seastar/core/coroutine.hh>
 #include <seastar/core/future.hh>
 #include <seastar/core/loop.hh>
 #include <seastar/testing/linux_perf_event.hh>
@@ -222,39 +223,17 @@ public:
 
 extern time_measurement measure_time;
 
-namespace {
-
-template<bool Condition, typename TrueFn, typename FalseFn>
-struct do_if_constexpr_ : FalseFn {
-    do_if_constexpr_(TrueFn, FalseFn false_fn) : FalseFn(std::move(false_fn)) { }
-    decltype(auto) operator()() const {
-        // https://gcc.gnu.org/bugzilla/show_bug.cgi?id=64095
-        return FalseFn::operator()(0);
-    }
-};
-template<typename TrueFn, typename FalseFn>
-struct do_if_constexpr_<true, TrueFn, FalseFn> : TrueFn {
-    do_if_constexpr_(TrueFn true_fn, FalseFn) : TrueFn(std::move(true_fn)) { }
-    decltype(auto) operator()() const { return TrueFn::operator()(0); }
-};
-
-template<bool Condition, typename TrueFn, typename FalseFn>
-do_if_constexpr_<Condition, TrueFn, FalseFn> if_constexpr_(TrueFn&& true_fn, FalseFn&& false_fn)
-{
-    return do_if_constexpr_<Condition, TrueFn, FalseFn>(std::forward<TrueFn>(true_fn),
-                                                        std::forward<FalseFn>(false_fn));
-}
-
-}
-
 template<typename Test>
 class concrete_performance_test final : public performance_test {
     std::optional<Test> _test;
+
+    using test_ret_type = decltype(_test->run());
+    // true iff the test method returns future<...>
+    static constexpr bool is_async_test = is_future<test_ret_type>::value;
+    // true iff the test returns the number of iterations run, otherwise it returns
+    // void and we consider each invocation to be 1 iteration
+    static constexpr bool is_iteration_returning = !(std::is_same_v<test_ret_type, future<>> || std::is_void_v<test_ret_type>);
 private:
-    template<typename... Args>
-    auto run_test(Args&&...) {
-        return _test->run();
-    }
 
 protected:
     virtual void set_up() override {
@@ -267,45 +246,36 @@ protected:
 
     [[gnu::hot]]
     virtual future<run_result> do_single_run() override {
-        // Redundant 'this->'s courtesy of https://gcc.gnu.org/bugzilla/show_bug.cgi?id=61636
         _instructions_retired_counter.enable();
         _cpu_cycles_retired_counter.enable();
-        return if_constexpr_<is_future<decltype(_test->run())>::value>([&] (auto&&...) {
-            measure_time.start_run(&_instructions_retired_counter);
-            return do_until([this] { return this->stop_iteration(); }, [this] {
-                return if_constexpr_<std::is_same_v<decltype(_test->run()), future<>>>([&] (auto&&...) {
-                    this->next_iteration(1);
-                    return _test->run();
-                }, [&] (auto&&... dependency) {
-                    // We need `dependency` to make sure the compiler won't be able to instantiate anything
-                    // (and notice that the code does not compile) if this part of if_constexpr_ is not active.
-                    return run_test(dependency...).then([&] (size_t n) {
-                        this->next_iteration(n);
-                    });
-                })();
-            }).then([] {
-                return measure_time.stop_run();
-            }).finally([this] {
-                _instructions_retired_counter.disable();
-                _cpu_cycles_retired_counter.disable();
-            });
-        }, [&] (auto&&...) {
-            measure_time.start_run(&_instructions_retired_counter, &_cpu_cycles_retired_counter);
-            while (!stop_iteration()) {
-                if_constexpr_<std::is_void_v<decltype(_test->run())>>([&] (auto&&...) {
-                    (void)_test->run();
-                    this->next_iteration(1);
-                }, [&] (auto&&... dependency) {
-                    // We need `dependency` to make sure the compiler won't be able to instantiate anything
-                    // (and notice that the code does not compile) if this part of if_constexpr_ is not active.
-                    this->next_iteration(run_test(dependency...));
-                })();
+        measure_time.start_run(&_instructions_retired_counter, &_cpu_cycles_retired_counter);
+        while (!stop_iteration()) {
+            if constexpr (is_async_test) {
+                if constexpr (is_iteration_returning) {
+                    auto f = _test->run();
+                    next_iteration(f.available() ? std::move(f).get() : co_await std::move(f));
+                } else {
+                    auto f = _test->run();
+                    // The available() check is functionally redundant, but is significantly faster
+                    // than invoking the co_await machinery on a future-returning function.
+                    if (!f.available()) {
+                        co_await std::move(f);
+                    }
+                    next_iteration(1);
+                }
+            } else {
+                if constexpr (is_iteration_returning) {
+                    next_iteration(_test->run());
+                } else {
+                    _test->run();
+                    next_iteration(1);
+                }
             }
-            auto ret = measure_time.stop_run();
-            _instructions_retired_counter.disable();
-            _cpu_cycles_retired_counter.disable();
-            return make_ready_future<run_result>(std::move(ret));
-        })();
+        }
+        auto ret = measure_time.stop_run();
+        _instructions_retired_counter.disable();
+        _cpu_cycles_retired_counter.disable();
+        co_return ret;
     }
 public:
     using performance_test::performance_test;