According to the latest report by IMARC Group, titled “Lateral Flow Assay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the lateral flow assay market is expected to grow at a CAGR of XX% during 2022-2027.
Lateral flow assay (LFA), or lateral flow immunochromatographic assay, is a paper-based testing solution used in laboratories to detect analytes in complex mixtures. It involves the use of a sample pad, reaction membrane, conjugate pad combined with biorecognition elements and absorbent pad. LFA is widely used in drug development, veterinary diagnostics, pregnancy, tuberculosis, food safety, influenza, drug abuse and D-dimer testing. It also assists in producing simple, rapid, cost-effective and portable detection devices that are utilized for testing biological samples of serum, plasma and blood. As a result, it finds extensive applications in clinics, diagnostic laboratories, hospitals and pharmaceutical manufacturing units.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Lateral Flow Assay Market Trends:
The global lateral flow assay market is primarily being driven by the increasing prevalence of chronic and infectious diseases. LFA is widely used to detect the presence of pathogens or biomarkers in samples of food, saliva and urine. Moreover, various technological advancements, such as the development of novel smartphone applications, are providing a thrust to the market growth. These applications are integrated with artificial intelligence (AI) and machine learning (ML) solutions to automate the accurate reading of the samples. In line with this, the recent outbreak of coronavirus disease (COVID-19) has favored the market growth. LFA kits are widely adopted to detect patients with antibodies and those that have been cured of the infection.
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Lateral Flow Assay Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Becton Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Hologic Inc., Merck KGAA, Perkinelmer Inc., Qiagen N.V., Quidel Corporation, Siemens Healthineers AG (Siemens AG) and Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on region, technique, product, application, end user.
Breakup by Technique:
- Sandwich Assays
- Competitive Assays
- Multiplex Detection Assays
Breakup by Product:
- Kits and Reagents
- Lateral Flow Readers
- Digital/Mobile Readers
- Benchtop Readers
Breakup by Application:
- Clinical Testing
- Infectious Disease Testing
- Cardiac Marker Testing
- Pregnancy and Fertility Testing
- Cholesterol Testing/Lipid Profile
- Drug Abuse Testing
- Veterinary Diagnostics
- Food Safety and Environment Testing
- Drug Development and Quality Testing
Breakup by End User:
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care
- Pharmaceutical and Biotechnology Companies
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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