Global Lateral Flow Assay Market By Product (Kits & Reagents, Lateral Flow Readers), Technique (Sandwich Assays, Competitive Assays, Multiplex Detection Assays), Application (Clinical/POC Testing, Veterinary Diagnostics, Food Safety & Environment Testing, Drug Development & Quality Testing), End User (Hospitals & Clinics, Home Care, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarket/Hypermarket, E-Commerce), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa), Industry Trends and Forecast to 2027
Market Analysis and Insights of Lateral Flow Assay
Lateral flow assay market is analysed by Data Bridge Market Research, wherein we have accounted for the market to witness a potential growth rate of 6.79% in the forecasted period of 2020 to 2027, resulting in the market reaching a cap of USD 10.72 billion by the end of the forecasted period. High consumption rate for home-based lateral flow testing products and solutions which have been combined with the requirement of better form of point-of-care testing products, these factors are acting as the growth drivers for lateral flow assay market in the above-mentioned forecasted period of 2020 to 2027.
Lateral flow assay is defined as a diagnostic technique which involves antibodies and probe DNA biochemical interaction. This method ensures that the test conducted is highly simplified, with low costs and no requirement of any interference while the test is being conducted. The test can also be easily conducted by non-trained individuals as it is based on a highly user friendly form of testing.
Surging volume of geriatric population which have resulted in a steady rise for infectious disease prevalence across the world are one of the most vital drivers for lateral flow assay market in the above-mentioned forecasted period.
Lack of preference from the consumers to shift from traditional method of diagnostic testing and adopting advanced methods, as well as the excise duty implementation of a significant volume on the trading of medical devices are expected to restrain the market growth in the above-mentioned forecasted period of 2020 to 2027.
This lateral flow assay market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research lateral flow assay market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Lateral Flow Assay Market Scope and Market Size
Lateral flow assay market is segmented on the basis of product, technique, application, end user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Based on product, the lateral flow assay market is segmented into kits & reagents and lateral flow readers. Kits & reagents have been sub-segmented into test strip, dipstick, cassette and lancets; Lateral flow readers are sub-segmented into digital/mobile readers and benchtop readers.
Based on technique, the lateral flow assay market is segmented into sandwich assays, competitive assays and multiplex detection assays.
On the basis of application, the lateral flow assay market is segmented into clinical/POCT testing, veterinary diagnostics, food safety & environment testing and drug development & quality testing. Clinical/POC (Point-of-Care) testing is sub-segmented into infectious disease testing, cardiac marker testing, pregnancy & fertility testing, cholesterol testing/lipid profile, drugs of abuse testing and other clinical/POC (Point-of-Care) testing. Infectious disease testing is sub-segmented into mosquito-borne disease testing, influenza testing, sexually transmitted infection testing, hepatitis, tuberculosis and other infectious disease tests. Sexually transmitted infection testing are further segmented into HIV testing, HPV testing, chlamydia testing, gonorrhea testing, syphilis testing and other sexually transmitted infection testing. Cardiac marker testing are sub-segmented into troponin I & T testing, CK-MB testing, BNP & NT-Propbnp Testing, myoglobolin testing, D-dimer testing and other cardiac marker tests. Pregnancy & fertility testing are sub-segmented into pregnancy testing and fertility testing.
On the basis of end user, the lateral flow assay market is segmented as hospitals & clinics, home care, pharmaceutical & biotechnology companies, diagnostic laboratories and others.
Lateral flow assay market has also been segmented into hospital pharmacies, retail pharmacies, supermarket/hypermarket and e-commerce on the basis of distribution channel.
Lateral Flow Assay Market Country Level Analysis
Lateral flow assay market is analysed and market size insights and trends are provided by country, product, technique, application, end user and distribution channel as referenced above.
The countries covered in lateral flow assay market report are U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Brazil, Argentina and Rest of South America as part of South America and South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa (MEA) as a part of Middle East and Africa (MEA).
North America will be the dominant region for lateral flow assay market in the forecasted period of 2020 to 2027. This position of the region is expected to be backed by the availability of advanced healthcare infrastructure and services along with the growing incidences of target chronic disorders amid growth of geriatric population from the region. Due to the presence of major market players in the region, the innovations and advancements in collaboration with the other market players have also been one of the major factors behind this market’s significant growth potential.
The country section of the lateral flow assay market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Lateral flow assay market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for lateral flow assay market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the lateral flow assay market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Lateral Flow Assay Market Share Analysis
Lateral flow assay market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lateral flow assay market.
The major players covered in the lateral flow assay market report are F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., QIAGEN, PerkinElmer Inc., Abbott, Hologic, Inc., Quidel Corporation, ABINGDON HEALTH, Trinity Biotech Ireland, Lumos Diagnostics, Merck KGaA, Cytodiagnostics Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), South America and Middle East and Africa (MEA) separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Lateral Flow Assay Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.