According to SPER Market Research, The Global Lateral Flow Assays Market is expected to grow at a CAGR of ~9% from 2020 to reach ~14 billion by 2027. The growth of this market is primarily attributed to increasing geriatric population, prevalence of infectious diseases, increasing demand for POC testing, and home-based lateral flow assay devices. However, lower accuracy and high margin of error associated with lateral flow assays is expected to hinder the growth of the market.
The global lateral flow assay market study provides market data for-by product (kits & reagents and lateral flow readers), by application (clinical testing, veterinary diagnostics, food safety & environment testing and drug development and quality testing), by technique (sandwich assays, competitive assays and multiplex detection assays), by sample type (blood samples, urine samples, saliva samples and other samples), by end user (hospitals & clinics, diagnostics laboratories, home care settings, pharmaceutical & biotechnology companies and other end users). The study also evaluates industry competitors and analyses the market at a regional and country level.
Global Lateral Flow Assays Market Overview (2022-2030)
- Forecast CAGR (2022-2027): 9%
- Forecast Market Size (2027): 14 billion
kits and reagents accounted for largest share of lateral flow assay market in 2020. The large share is mainly attributed to increasing adoption of lateral flow assay kits for various application areas. Lateral flow readers segment is expected to grow at highest rate during the forecast period. The growth is mainly driven by high sensitivity of lateral flow readers and ability to accurately quantify, capture and transmit data.
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Global Lateral Flow Assays Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Product:
- kits
- Reagents
By Technique:
- Sandwich
- Multiplex
By Sample Type:
- Precise Testing Techniques
- Increased R&D Investments
By Application:
- Clinical Testing
- Veterinary
- Food Safety
By End User:
- Hospital
- Diagnostic Labs
By Region:
- North America
- Europe
- Asia-Pacific
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market's historic and forecast market growth by geography.
Global Lateral Flow Assays Market Key Players:
The Global Lateral Flow Assays Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Abbott Laboratories (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Siemens AG (Germany), Becton, Dickinson and Company (US), bioMérieux SA (France), Bio-Rad Laboratories (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc. (US), Hologic Inc. (US), Quidel Corporation (US), Merck KGaA (Germany), Abcam plc (UK), Surmodics IVD (US), Chembio Diagnostic Systems, Inc. (US), OraSure Technologies (US), DCN Diagnostics (US), Polysciences, Inc. (US), Abingdon Health (UK), BioPorto Diagnostics A/S (Denmark), Microcoat Biotechnologie GmbH (Germany), Scienion AG (Germany), Senova GmbH (Germany), and Access Bio, Inc. (US)
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Global Lateral Flow Assays Market Future Outlook
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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.
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).Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/4086Market 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.
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.
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/4086The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R activities, and government and corporate deals, among others through extensive primary and secondary research.
