The Global Lateral Flow Assays Market is poised to value over USD 12.5 billion during the forecast period 2022 to 2028.
Lateral flow assays (LFA) are techniques for detecting the presence (or absence) of a target analyte in a sample (matrix). These assays are commonly used in hospitals and clinical laboratories to detect specific antigens and antibodies, both qualitatively and quantitatively. In addition, lateral flow assay kits are used to test for infectious diseases, cardiac markers, pregnancy and fertility, cholesterol testing/lipid profiling, and drug abuse in a timely manner. They are also used for food and beverage testing. The spread of various chronic and infectious diseases, an increase in the use of home-based lateral flow assay kits, an increase in government initiatives to promote health awareness, an increase in demand for point-of-care testing, an increase in adoption of LFA due to innovations, and the advantages of LFA rapid tests over laboratory tests are all driving growth in the lateral flow assays market. Furthermore, the recent COVID-19 outbreak has boosted the growth of the lateral flow assays market. However, stringent and time-consuming regulatory policies for assays performed to detect the presence or absence of any analyte, as well as people’s unwillingness to change existing medical practises, limit market growth. Technological advancements and an increase in the use of lateral flow assay tests in clinical diagnostics provide lucrative opportunities for the lateral flow assay market to grow. Because of the COVID-19 pandemic, the market for lateral flow assays (LFA) has grown significantly. Lateral flow assay-based tests are used to diagnose COVID-19 infections around the world because LFA test kits have shown the ability to detect both symptomatic and asymptomatic COVID-19 infections. Many healthcare companies are working on developing lateral flow assay devices capable of detecting patient antibodies (IgG and IgM) or COVID-19 viral antigens in blood samples obtained via finger prick, saliva samples, or nasal fluid swabs. The low cost of LFA devices, as well as the fact that no trained personnel are required to perform these tests, are factors that drive demand for LFA-based devices for COVID-19 testing. The ability of LFA devices to detect symptomatic and asymptomatic COVID-19 infections is their primary advantage over other methods of detection. RT-PCR, for example, can only detect active infections in patients, whereas LFA-based testing devices can detect asymptomatic patients who have been cured of the infection and are no longer at risk of spreading the virus to others.
The astute research report on Lateral Flow Assays market provides intricate details for analyzing appropriate parameters and valuable insights. The report offers extensive information about this business to help bring forth the growth potential of the market across various segments and provides the clients with a comprehensive analysis of factors like market size, market growth trends, competitive landscape, product utilization, regional growth prospects, and application potential, etc. The data provided in the report has been gathered from a wide variety of sources by using primary and secondary research. This Lateral Flow Assays research report also provides crucial insights into consumer behaviour, brand positioning, pricing analysis, and key player strategies. The market overview included in the Lateral Flow Assays research report incorporates critical factors procured from industry analysts, prominent players as well as trade and industrial organizations.
The report on Lateral Flow Assays market offers up-to-date information on the factors impeding the market growth which shall provide vendors with crucial insights into understanding the market dynamics thereby aiding the clients to sketch out a better business strategy. These factors will help them identify market growth opportunities. Furthermore, FutureWise research analysts provide timely assistance to their customers in understanding eccentric market parameters more effectively thereby leading to better decision-making.
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The Lateral Flow Assays market research report is segmented – by product, by application, by technique, by sample type, by end user, and by region. It also consists of insights regarding the revenue value and sales volume during the forecasted timeframe of 2022 to 2028.
Lateral Flow Assays Market Segmentation:
By Product
Kits & Reagents
Lateral Flow Readers
By Application
Clinical Testing
Veterinary Diagnostics
Food Safety & Environment Testing
Drug Development & Quality Testing
By Technique
Sandwich Assays
Competitive Assays
Multiplex Detection Assays
By Sample Type
Blood Samples
Urine Samples
Saliva Samples
Other Samples
By End User
Hospitals & Clinics
Diagnostic Laboratories
Home Care Settings
Pharmaceutical & Biotechnology Companies
Other End Users
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Lateral Flow Assays Market Regional Analysis:
The report provides a complete evaluation of the potential amplification of the Lateral Flow Assays Market in pivotal geographic regions such as North America, Asia Pacific, Europe, Latin America and Middle East & Africa.
Competitive Landscape:
Some of the key market players are
Abbott Laboratories
F. Hoffman-La Roche Ltd.
Danaher Corporation
Siemens AG
Becton, Dickinson and Company
bioMérieux SA
Bio-Rad Laboratories
Thermo Fisher Scientific, Inc.
PerkinElmer Inc.
Hologic Inc.
Qiagen N.V.
Quidel Corporation
Merck KGaA
Abcam plc
Surmodics IVD
Chembio Diagnostic Systems, Inc.
OraSure Technologies
DCN Diagnostics
Polysciences, Inc.
Abingdon Health
BioPorto Diagnostics A/S
Microcoat Biotechnologie GmbH
Scienion AG
Senova GmbH
Access Bio, Inc.
FutureWise Key Takeaways:
Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth
Objectives of the Study:
To provide an extensive analysis of the global Lateral Flow Assays market by product, by application, by technique, by sample type, by end user, and by region
To carter complex data and information on the characteristics influencing the market growth (drivers, restraints, opportunities, and industry-specific restraints)
To predict and assess micro-markets and the overall market
To anticipate the market size, in key geographical regions (along with countries)— North America, Europe, Asia Pacific, Latin America and the Middle East and Africa
To estimate and inspect competitive landscape mapping- technological advancements, product launches, mergers and expansions
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