According to SPER Market Research, The Global Lateral Flow Assays Market is expected to grow at a CAGR of ~9% from 2020 to reach ~14 billion by 2027. The growth of this market is primarily attributed to increasing geriatric population, prevalence of infectious diseases, increasing demand for POC testing, and home-based lateral flow assay devices. However, lower accuracy and high margin of error associated with lateral flow assays is expected to hinder the growth of the market.
The global lateral flow assay market study provides market data for-by product (kits & reagents and lateral flow readers), by application (clinical testing, veterinary diagnostics, food safety & environment testing and drug development and quality testing), by technique (sandwich assays, competitive assays and multiplex detection assays), by sample type (blood samples, urine samples, saliva samples and other samples), by end user (hospitals & clinics, diagnostics laboratories, home care settings, pharmaceutical & biotechnology companies and other end users). The study also evaluates industry competitors and analyses the market at a regional and country level.
Global Lateral Flow Assays Market Overview (2022-2030)
- Forecast CAGR (2022-2027): 9%
- Forecast Market Size (2027): 14 billion
kits and reagents accounted for largest share of lateral flow assay market in 2020. The large share is mainly attributed to increasing adoption of lateral flow assay kits for various application areas. Lateral flow readers segment is expected to grow at highest rate during the forecast period. The growth is mainly driven by high sensitivity of lateral flow readers and ability to accurately quantify, capture and transmit data.
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Global Lateral Flow Assays Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Product:
- kits
- Reagents
By Technique:
- Sandwich
- Multiplex
By Sample Type:
- Precise Testing Techniques
- Increased R&D Investments
By Application:
- Clinical Testing
- Veterinary
- Food Safety
By End User:
- Hospital
- Diagnostic Labs
By Region:
- North America
- Europe
- Asia-Pacific
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Global Lateral Flow Assays Market Key Players:
The Global Lateral Flow Assays Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Abbott Laboratories (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Siemens AG (Germany), Becton, Dickinson and Company (US), bioMérieux SA (France), Bio-Rad Laboratories (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc. (US), Hologic Inc. (US), Quidel Corporation (US), Merck KGaA (Germany), Abcam plc (UK), Surmodics IVD (US), Chembio Diagnostic Systems, Inc. (US), OraSure Technologies (US), DCN Diagnostics (US), Polysciences, Inc. (US), Abingdon Health (UK), BioPorto Diagnostics A/S (Denmark), Microcoat Biotechnologie GmbH (Germany), Scienion AG (Germany), Senova GmbH (Germany), and Access Bio, Inc. (US)
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