The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Lateral Flow Assay Market was valued US$ XX Bn in 2022 and is expected to reach US$ XX Bn by 2030, at a CAGR of XX % during a forecast period.
The high prevalence of infectious diseases worldwide, speedily growing geriatric population, growing demand for point-of-care testing, and increased use of rapid testing in-home care settings are boosting the growth of the lateral flow assay market. Additionally, the lateral flow assay market is observing a robust growth because of the increasing incidences of infectious and communicable diseases. Moreover, rising demand for lateral flow assays in the food & beverage industry and increasing applications of lateral flow point-of-need assays are major opportunities of the global lateral flow assays market.
However, the major hindering factors of the global lateral flow assays market are lack of trained caretakers for the efficient operation of patient handling equipment, fewer reimbursements policies for lateral flow assay products. Additionally, variance in lateral flow assay test results and stringent regulation & inconsistency in test results are expected to restrain the global lateral flow assay market.
Based on product, the kits & reagents segment is accounted for the largest share of the global lateral flow assay market throughout the forecast period on account of the increasing application of lateral flow kits & reagents for point-of-care testing, the growing burden of chronic diseases, and increasing use of lateral flow kits in-home care.
Based on application, the clinical testing segment accounted for the largest share of the lateral flow assay market because of the rise in population levels & prevalence of chronic diseases, growing pressure to reduce healthcare costs, and increasing demand for patient-centric care is boosting the growth of the clinical testing segment.
Region-wise, North America accounted for the largest share of the lateral flow assay market in forecast period, followed by Europe, and Asia Pacific thanks to the presence of a highly developed healthcare system, rising geriatric population, increasing incidence of chronic diseases, quick adoption of new innovative products, and a large number of lateral flow assay kits manufacturing companies in this region.
The objective of the report is to present a comprehensive analysis of the Global Lateral Flow Assay Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Application. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Lateral Flow Assay Market dynamics, structure by analyzing the market segments and project the Global Lateral Flow Assay Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Lateral Flow Assay Market make the report investor’s guide
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Global Lateral flow assay market, by Product:
• Kits & Reagents
• Lateral Flow Readers
• Digital & Mobile Readers
• Benchtop Readers
Global Lateral flow assay market, by Application:
• Clinical Testing
• Veterinary Diagnostics
• Drug Development & Quality Testing
• Food Safety & Environmental Safety
Global Lateral flow assay market, by End-User:
• Hospitals and Clinics
• Diagnostic Laboratories
• Home Care
• Pharmaceutical and Biotechnology Companies
• Other End Users
Global Lateral flow assay market, by Technique:
• Competitive Assays
• Sandwich Assays
• Multiplex Detection Assays
Global Lateral flow assay market, by Region:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
The key player operating in the Global Lateral flow assay market: