MarkNtel Advisors analyses the growth rate of the Lateral Flow Assay market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Lateral Flow Assay market, helping them make informed decisions.
Market Outlook – 2024-2030:
The Global Lateral Flow Assay Market is estimated to grow at a CAGR of around 3.4% during the forecast period, i.e., 2024-30. The market growth has been primarily attributed to the rising awareness of health and growing recommendations from healthcare professionals and major bodies such as the CDC, WHO, etc. for regular testing of various diseases. The world has witnessed incidences of epidemics and pandemics such as Ebola and COVID- 19, which have positively impacted the growth of the Lateral Flow Assay Market. Compared to other laboratory tests available, lateral flow assays that are much faster, cheaper, and user-friendly were more in demand for COVID- 19 testing. Following that, the market for Global Lateral Flow Assay has witnessed enormous growth.
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Key Company Profiles
This report explores recent significant developments in the Lateral Flow Assay Market, focusing on the leading companies and their innovative profiles. The major players in the Lateral Flow Assay Market, featured in this report, include:
- Abbott
- PerkinElmer Inc.
- Gold Standard Diagnostics
- QIAGEN N.V.
- Quidel Corporation
- Thermo Fisher Scientific Inc.
- Hologic Inc.
- IUL, SA
- FUJIREBIO (H.U. Group company)
- Abcam PLC
- Genobio
- Elabscience Bionovation Inc.
- P4Q Electronics
- Hoffmann-La Roche Ltd.
- Siemens Healthineers
- Others
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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the Lateral Flow Assay Market to forecast revenues and analyse trends across each of the following sub-markets:
- By Product
- Kits & Reagents- Market Size & Forecast 2019-2030, USD Million
- Lateral Flow Readers- Market Size & Forecast 2019-2030, USD Million
- Benchtop Readers- Market Size & Forecast 2019-2030, USD Million
- Digital Readers- Market Size & Forecast 2019-2030, USD Million
The Kits & Reagents category held a major share of the Lateral Flow Assay Market and would flourish in the future years as well.
- By Application
- Clinical Testing- Market Size & Forecast 2019-2030, USD Million
- Infectious Disease Testing- Market Size & Forecast 2019-2030, USD Million
- COVID- 19- Market Size & Forecast 2019-2030, USD Million
- Mosquito-borne Disease Testing- Market Size & Forecast 2019-2030, USD Million
- Influenza Testing- Market Size & Forecast 2019-2030, USD Million
- Sexually Transmitted Infection Testing- Market Size & Forecast 2019-2030, USD Million
- HIV Testing- Market Size & Forecast 2019-2030, USD Million
- HPV Testing- Market Size & Forecast 2019-2030, USD Million
- Chlamydia Testing- Market Size & Forecast 2019-2030, USD Million
- Gonorrhoea Testing- Market Size & Forecast 2019-2030, USD Million
- Syphilis Testing- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
- Hepatitis- Market Size & Forecast 2019-2030, USD Million
- Tuberculosis- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
- Cardiac Market Testing
- Troponin I & T Testing- Market Size & Forecast 2019-2030, USD Million
- CK-MB Testing- Market Size & Forecast 2019-2030, USD Million
- BNP & NT-Probnp Testing- Market Size & Forecast 2019-2030, USD Million
- Myoglobin Testing- Market Size & Forecast 2019-2030, USD Million
- D-Dimer Testing- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
- Pregnancy & Fertility Testing- Market Size & Forecast 2019-2030, USD Million
- Pregnancy Testing- Market Size & Forecast 2019-2030, USD Million
- Fertility Testing- Market Size & Forecast 2019-2030, USD Million
- Cholesterol Testing/Lipid Profile- Market Size & Forecast 2019-2030, USD Million
- Drugs of Abuse Testing- Market Size & Forecast 2019-2030, USD Million
- Other Clinical Tests- Market Size & Forecast 2019-2030, USD Million
- Infectious Disease Testing- Market Size & Forecast 2019-2030, USD Million
- Veterinary Diagnostics- Market Size & Forecast 2019-2030, USD Million
- Food Safety & Environment Testing- Market Size & Forecast 2019-2030, USD Million
- Drug Development & Quality Testing- Market Size & Forecast 2019-2030, USD Million
- Clinical Testing- Market Size & Forecast 2019-2030, USD Million
- By Technique
- Sandwich Assays- Market Size & Forecast 2019-2030, USD Million
- Competitive Assays- Market Size & Forecast 2019-2030, USD Million
- Multiplex Detection Assays- Market Size & Forecast 2019-2030, USD Million
- By Therapy
- Lateral Flow Immunoassay- Market Size & Forecast 2019-2030, USD Million
- Nucleic Acid Lateral Flow Assay- Market Size & Forecast 2019-2030, USD Million
- By End User
- Hospitals & Clinics- Market Size & Forecast 2019-2030, USD Million
- Diagnostic Laboratories- Market Size & Forecast 2019-2030, USD Million
- Pharmaceutical & Biotechnology Companies- Market Size & Forecast 2019-2030, USD Million
- Others (Food Companies, Research Organisations, etc.)- Market Size & Forecast 2019-2030, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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What are the primary factors driving the growth of the Global Lateral Flow Assay Market?
Growing Prevalence of Infectious Diseases to Result in Increased Demand for Point-of-Care Testing – There is a huge burden of infectious diseases, including respiratory infections, gastrointestinal infections, etc., across the globe. Being a fast & cost-effective method to detect infectious agents rapidly, the demand for lateral flow assays as solutions has also increased simultaneously. Also, HIV, the deadly disease, has claimed the lives of many across the world and has thereby necessitated the early and regular testing of HIV via lateral flow assays to improve the survival rate of patients with proper disease management.
Furthermore, there has been a significant increase in the demand for point-of-care testing offered by lateral flow assays, particularly in remote or resource-limited settings, where a rise in the prevalence of infectious diseases has been witnessed, and quick & convenient diagnostic results were crucial at the patient’s location, thereby driving the growth of the overall Lateral Flow Assay Market.
Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
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