Immunochromatography Kits Market Growth Accelerating with Increasing Prevalence of Chronic and Infectious Diseases: Future Market Insights
According to Future Market Insights’ most recent industry report, the global immunochromatography kits market is estimated to be valued at approximately US$ 8.1 Bn in 2022 and is expected to rise at a CAGR close to 4.1% over the forecast period, with an anticipated worth of around US$ 12.1 Bn in 2032.
The immunochromatography assay (ICA), also known as the lateral flow test, is a simple device that detects the presence or absence of a target analyte. Immuno-chromatography combines immunochemical reactions with chromatography, which is the separation of sample components based on changes in how they pass through a sorbent. The immunochromatography kits are the most widely used immunochromatography system.
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The rising frequency of various infectious diseases is the main driver of the market for immunochromatography kits. Government attempts to improve healthcare systems by boosting the capacity of fast testing for initial screening and upgrading healthcare infrastructure are also a significant driver of market expansion. The market for immunochromatography kits is expanding due to rising consumer demand for easy-to-use home testing kits that can provide quick and precise results.
Globally, the market for immunochromatography kits is expanding as a result of an increase in the number of government-approved testing facilities and private points of care. Additionally, immunochromatography kits use cutting-edge technologies and are based on immunoassay or chromatography, which provides quick findings. Such rapid test kits are now much more in demand.
To stop the spread of COVID-19, governments in the majority of nations have instituted rigorous pathogen testing. Immunochromatography kits sales are likely to expand over the forecast period as medical companies, mostly diagnostic service providers, solidify their position within the industry.
Key Takeaways from Market Study
- Kits are the leading segment as product, and hold approximately 7% market share in 2021. Growing demand for point-of-care diagnostic devices further compliments the market share for the kits segment, globally.
- Infectious diseases, segmented by application, hold a market share of around 5% in 2021, owed to the advent of the COVID-19 pandemic, and the associated measures to prevent, detect, and manage infection proliferation.
- By distribution channel, hospital pharmacies account for around 5% of the global market share in 2021, owing to the use of immunochromatography kits for rapid identification of pathogen for further disease monitoring in patients.
- North America is considered as the leading region with a value US$ 3.2 Bn in 2021, owing to the high prevalence of disease and large demand for at-home testing kits.
“Rapidly ageing population, growing demand for point-of-need diagnostics, and rising government initiatives for infection prevention and control, are factors propelling demand within the global immunochromatography kits industry,” says an analyst of Future Market Insights.
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Market Competition
Key competitors in the global immunochromatography kits market adopt several strategies for product development and its adoption, including receiving emergency use authorization by regulatory bodies. Moreover, with the threat of infection spread due to the global COVID-19 pandemic, several competitors have reflected the SARS-COV2 antigen detection within their product range.
Key developmental instances include:
- Beckman Coulter Inc., a manufacturer of laboratory equipment for Danaher Corp., received emergency use approval from the US Food and Drug Administration in October 2020 for its COVID-19 antibody test.
- BioMérieux announced in May 2022 that its automated tests for diagnosing Chikungunya virus (CHIKV) infection on immunoassay instruments from the VIDAS® line have received CE marking.
Key Companies Profiled:
- Abbott Laboratories
- PerkinElmer Inc.
- Danaher Corporation
- Bio-rad Laboratories
- Hoffmann-La Roche AG
- bioMérieux SA
- Becton, Dickinson and Company
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
- QIAGEN
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Key Market Segments Covered in Immunochromatography Kits Industry Research
By Product:
- Readers
- Kits
By Application:
- Sexually Transmitted Diseases
- Infectious Diseases
- Diabetes
- Pregnancy Testing
- Drug of Abuse Testing
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Supermarket/Hypermarket
- E-Commerce
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