Global Lateral Flow Assay Market report provides a basic overview of the Lateral Flow Assay including definitions, classifications, applications and Lateral Flow Assay chain structure. Global Lateral Flow Assay Market analysis is provided for the international market including development history, Lateral Flow Assay competitive landscape analysis, and major regions development status on Global Lateral Flow Assay Market scenario.
Global Lateral Flow Assay Market is valued approximately at USD 6.0 billion in 2018 and is anticipated to grow with a growth rate of more than 7.6% over the forecast period 2019-2026.
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Lateral flow Assay, also called lateral flow immunochromatographic assays, are those devices used to detect the presence (or absence) of a target analyte such as biomarkers or pathogens in sample (matrix). Lateral flow assays are mainly used in medical diagnostics for point-of-care testing, home testing and laboratory use. A lateral flow assay strip comprises of conjugate or reagent pad, sample pad, wick or waste reservoir and reaction membrane. These assays are extensively used in clinical laboratories and hospitals for the quantitative and qualitative detection of certain antibodies and antigens. High prevalence of infectious diseases, growing demand for home-based lateral flow assay test kits, rise in geriatric population, rise in disposable income, and surge in demand for point-of-care testing are the few factors responsible for high CAGR of the market over the forecast period. For instance, according to the World Health Organization (WHO), infectious diseases kill over 17 million people each year. Also, as per the National Institute of Health (NIH), around 8.5% of people worldwide (617 million) are aged 65 and over, and this percentage is projected to increase to nearly 17% of the worldâ€™s population by 2050 (1.6 billion). Moreover, rising demand for lateral flow assays in the food & beverage industry, advancement of technology and increase in applications of lateral flow assay tests in clinical diagnostics are the major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, stringent regulation, inconsistency in test results and lack of trained care takers for efficient operation of patient handling equipment are few factor anticipated to restraining the growth of global Lateral Flow Assay market during the forecast period.
The regional analysis of global Lateral Flow Assay Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of a highly developed healthcare system, rising geriatric population, increasing incidence of chronic diseases and presence of large number of lateral flow assay kits manufacturers in this region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as large population base, increase in government initiatives to provide better healthcare facilities and rise in prevalence of chronic diseases that would create lucrative growth opportunities for the Lateral Flow Assay market across North American region.
Major market player included in this report are:
F. Hoffmann-La Roche AG
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Kits & Reagents
Lateral Flow Readers
Food Safety & Environment Testing
Drug Development & Quality Testing
Multiplex Detection Assays
Hospital & Clinics
Pharmaceutical & Biotechnology Companies
An overview of the regional analysis:
- North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America are the key regional contributors of the Emergency Lateral Flow Assay market.
- Regional contribution to the overall growth is summed up in the study.
- Tallies of the total sales and revenue garnered by each geography are listed.
- Growth rate projection for each regional market during the forecast period is deciphered as well.
Analysis of regional landscape:
- Based on geographical terrain, the Lateral Flow Assay market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
- A performance summary of each region..
- Insights into the total sales, growth rate, and revenue generated by each geography is provided.
Key Questions Answered in Lateral Flow Assay Market Report:
- What is the size and CAGR of the global Market?
- What are the key driving factors of the most profitable regional market?
- Which are the leading segments of the global market?
- How will the global market advance in the coming years?
- What are the main strategies adopted in the global market?
- What is the nature of competition in the global market?
Summary of the regional outlook documented in this report:
- Consumption pattern and consumption rate with respected to each region.
- Predicted consumption rates over the forecast period.
- Market forecasts of key regions are detailed in the report.
- Consumption market share solely based on the regional contribution.
- Market share held by the listed geographies.
COVID-19, the disease it causes, surfaced in late 2019, and now had become a full-blown crisis worldwide. Over fifty key countries had declared a national emergency to combat coronavirus. With cases spreading, and the epicentre of the outbreak shifting to Europe, North America, India and Latin America, life in these regions has been upended the way it had been in Asia earlier in the developing crisis. As the coronavirus pandemic has worsened, the entertainment industry has been upended along with most every other facet of life. As experts work toward a better understanding, the world shudders in fear of the unknown, a worry that has rocked global financial markets, leading to daily volatility in the U.S. stock markets.
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