Lateral Flow Assay Market to Hit US$ 12.75 Billion by 2029
Lateral Flow Assay market report is structured with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skilful forecasters and well-informed researchers. In this market research report, industry trends are put together on macro level with which clients can figure out market landscape and possible future issues. Lateral Flow Assay market analysis report offers an analytical assessment of the prime challenges faced by the market currently and in the coming years, which gives idea to other market participants about the problems they may face while operating in this market over a longer period of time.
Market parameters covered in the top notch Lateral Flow Assay market document include but are not limited to latest trends, market segmentation, new market entry, industry forecasting, future directions, opportunity identification, strategic analysis and planning, target market analysis, insights and innovation. The report comprises of the market drivers and restraints which are derived from SWOT analysis and also provides all the CAGR projections for the historic year 2020, base year 2021, and forecast period. An all-inclusive Lateral Flow Assay report takes into account all the opportunities, challenges, drivers, market structures, and competitive landscape for the clients.
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Key Market Players mentioned in this report:
- STRATEC SE (Germany)
- PerkinElmer, Inc. (U.S.)
- DRG International, Inc. (U.S.)
- MP BIOMEDICALS (U.S.)
- Cisbio (France)
- Euro Diagnostica AB (Sweden)
- Tecan Trading AG (Switzerland)
- p.A. (Italy)
- EMD Millipore (U.S.)
- iZotope, Inc. (U.S.)
- DIAsource (U.S.)
Key Market Analysis and Insights:
Lateral Flow Assays (LFAs) were developed over a half-century ago to aid in diagnosis in a variety of applications, including healthcare, environmental testing, and food and beverage. The use of LFAs in point-of-care diagnostic settings has gained significant traction in the research community, fuelling the growth of the lateral flow assay market.
Data Bridge Market Research analyses that the lateral flow assay market is expected to reach the value of USD 12.75 billion by the year 2029, at a CAGR of 8.29% during the forecast period. The high consumption rate for home-based lateral flow testing products and solutions, combined with the need for better point-of-care testing products, will drive growth in the lateral flow assay market from 2022 to 2029.
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Global Lateral Flow Assay Market Scope and Market Size
The lateral flow assay market is segmented on the basis of product, technique, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Kits and Reagents
- Lateral flow readers
Technique
- Sandwich assays
- Competitive assays
- Multiplex detection assays
End User
- Hospitals and Clinics
- Home care
- Pharma and biotech companies
- Diagnostic laboratories
- Others
Application
- clinical/POCT testing
- veterinary diagnostics
- food safety & environment testing
- drug development & quality testing
- Distribution channel
- Hospital pharmacies
- Retail pharmacies
- Supermarket/hypermarket
- e-commerce
Lateral Flow Assay Market, By Region:
Global Lateral Flow Assay market is analyzed and market size insights and trends are provided by country, product as referenced above.
The countries covered in the Lateral Flow Assay market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the Lateral Flow Assay market because of the rise in the cases of arrhythmic diseases, favorable reimbursement policies for patients, high demand for advanced treatment methods and developed healthcare infrastructure in the region. Asia-Pacific is estimated to grow in the forecast period due to the high prevalence of cardiovascular diseases, increase in adoption of advanced digital devices, large population and launch of new innovative products.
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Lateral flow assay Market Dynamics
Drivers
- The rapid antigen testing promotes market growth
Rapid antigen testing at the point of care is possible with lateral flow assay devices, which can provide results in less time than ELISA tests. Furthermore, lateral flow assay tests have been rapidly adopted in the veterinary sector, boosting overall market growth.
- The significant collaborations among key market players
Technological advancements and significant collaboration efforts among key pharmaceutical industry players, funding programmes, and the presence of reimbursement agencies will drive even higher demand for lateral flow rapid test diagnostics.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the lateral flow assay market.
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Table of Contents –
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Overview of Global Lateral Flow Assay Market
1.4 Currency and Pricing
1.5 Limitations
1.6 Markets Covered
2 Market Segmentation
2.1 Markets Covered
2.2 Geographical Scope
2.3 Years Considered For the Study
2.4 DBMR Tripod Data Validation Model
2.5 Primary Interviews with Key Opinion Leaders
2.6 Multivariate Modelling
2.7 Type Lifeline Curve
2.8 DBMR Market Position Grid
2.9 Vendor Share Analysis
2.1 Market End User Coverage Grid
2.11 Secondary Sources
2.12 Assumptions
3 Executive Summary
4 Premium Insight
5 Global Lateral Flow Assay Market: Regulations
6 Global Lateral Flow Assay Market: Pipeline Analysis
7 Market Overview
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