The global lateral flow assays market size is expected to reach USD 11.66 billion by 2028 at a CAGR of 4.6%, according to the latest report by Reports and Data. Rising consumption rate for home-based lateral flow testing solutions and products, and growing requirement of better point-of-care testing products are a few major factors driving the revenue growth of the lateral flow assays market.
Lateral flow assay involves antibodies and probe DNA biochemical interaction. This diagnostic method ensures simplified test with low costs and no requirement of any interference while the test is being conducted. Moreover, the test can also be easily conducted by non-trained individuals due to its highly user-friendly form of testing.
Increasing geriatric population leads to rising prevalence of different types of infectious diseases across the globe, which is one of the most crucial factors expected to propel the revenue growth of the lateral flow assays market during the forecasted period.
However, lack of preference from consumers to shift from conventional diagnostic testing methods and adopting advanced methods is one of the significant factors predicted to restrain the market revenue growth to a certain extent between 2021 2028.
Top Companies Profiled in the Report Include:
- Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Abbott Laboratories (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), Rad Laboratories (U.S.), bioMérieux SA (France), Bio Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer Inc. (U.S.), QIAGEN N.V. (Netherlands), Quidel Corporation (U.S.), Hologic Inc. (U.S.), Merck KGaA (Germany), Abcam plc (UK).
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Lateral Flow Assays market in these key regions.
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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Additionally, the report consists a detailed analysis of the segmentation of the Lateral Flow Assays market based on product types and end-use/application offered in the Lateral Flow Assays market.
Product Outlook (Revenue, USD Billion, 2018 - 2028)
- Kits Reagents
- Lateral Flow Readers
- Digital/Handheld Readers
- Benchtop Readers
- Mobile/Smartphone Readers
Application Outlook (Revenue, USD Billion, 2018 - 2028)
- Clinical Testing
- Infectious Disease Testing
- Mosquito-borne Diseases
- Covid-19
- Influenza
- Sexually Transmitted Infections
- HIV
- HPV
- Chlamydia
- Gonorrhea
- Syphilis
- Other Sexually Transmitted Infections
- Hepatitis
- Tuberculosis
- Other Infectious Diseases
- Cardiac Marker Testing
- Troponin I and T Testing
- CK-MB Testing
- BNP or NT-proBNP Testing
- Myoglobin Testing
- D-Dimer Testing
- Other Cardiac Markers
- Pregnancy Fertility Testing
- Pregnancy Testing
- Fertility Testing
- Cholesterol Testing/Lipid Profiles
- Drugs-of-Abuse Testing
- Veterinary Diagnostics
- Food Safety Environment Testing
- Drug Development Quality Testing
Technique Outlook (Revenue, USD Billion, 2018 - 2028)
- Sandwich Assays
- Competitive Assays
- Multiplex Detection Assays
Sample Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Blood Samples
- Urine Samples
- Saliva Samples
- Other Samples
End User Outlook (Revenue, USD Billion, 2018 - 2028)
- Hospitals Clinics
- Diagnostic Laboratories
- Home Care Settings
- Pharmaceutical Biotechnology Companies
- Other End Users
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