Lateral Flow Assays Market worth $22.6 billion by 2027
The report "Lateral Flow Assays Market by Product (Kits, Readers), Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environmental Testing), Technique (Sandwich, Multiplex Detection Assay), End User (Hospitals, Home care) - Global Forecast to 2027", is projected to reach USD 22.6 billion by 2027 from USD 20.5 billion in 2022 at a CAGR of 2.0% during the forecast period. The increasing demand of lateral flow assays due to increase in prevalence of infectious disease, increasing number of geriatric population in many countries, and rising use of home-based lateral flow assay devices are the major factors driving the growth of this market. On the other hand, reluctance among doctors and patients to change existing diagnostic procedures and the low accuracy of lateral flow assays are the key restraints.
Browse 366 market data Tables and 58 Figures spread through 374 Pages and in-depth TOC on "Lateral Flow Assays Market by Product (Kits, Readers), Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environmental Testing), Technique (Sandwich, Multiplex Detection Assay), End User (Hospitals, Home care) - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/lateral-flow-assay-market-167205133.html
In this report, the lateral flow assays market is segmented on the basis of product type, application type, technique type, sample type, end user, and region.
“Lateral Flow Readers segment is expected to witness the fastest growth during the forecast period”
Based on product type, the lateral flow assays market is segmented into kits & reagents and lateral flow readers. During the forecast period, this segment is expected to witness the fastest growth during the forecast period. The factors responsible for the growth of this segment are increasing demand of quantitative analysis of clinical sample.
“Veterinary Diagnostics segment accounted for the second largest share of lateral flow assays market in 2021”
Based on applications, the lateral flow assays market is segmented into clinical testing, veterinary diagnostics, food safety & environmental testing, and drug development & quality testing. The veterinary diagnostics segment accounted for the second largest share of the lateral flow assays market in 2021. The possibility of infectious disease outbreaks (particularly in large livestock animals) is driving the demand for lateral flow tests due to their simplicity and rapidity compared to conventional detection methods.
“Multiplex Detection Assays technique is expected to witness the fastest growth during the forecast period”
Based on technique, the lateral flow assay kits & reagents market is segmented into competitive assays, sandwich assays, and multiplex detection assays. The multiplex detection assays technique is expected to witness the fastest growth during the forecast period. The widening scope, applications, and research on multiplex detection assays are expected to boost the growth of this segment in the forecast period.
The lateral flow assays market is segmented into five region namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is the second largest region along with fastest growing region of lateral flow assays market owing to major investments in rapid testing in this region.
Key Market Players :
The prominent players in the global lateral flow assays market include Abbott Laboratories (US), Quidel Corporation (US), F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), Siemens AG (Germany), BD (US), bioMérieux SA (France), Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc. (US), Hologic Inc. (US), QIAGEN N.V. (Netherlands), and Merck KGaA (Germany).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Lateral Flow Assays Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
