According to the latest report by IMARC Group, titled “Lateral Flow Assay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global lateral flow assay market size reached US$ 9.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.2% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Lateral flow assay (LFA), or lateral flow immunochromatographic assay, is a paper-based testing solution used in laboratories to detect analytes in complex mixtures. It involves the use of a sample pad, reaction membrane, conjugate pad combined with biorecognition elements and absorbent pad. LFA is widely used in drug development, veterinary diagnostics, pregnancy, tuberculosis, food safety, influenza, drug abuse and D-dimer testing. It also assists in producing simple, rapid, cost-effective and portable detection devices that are utilized for testing biological samples of serum, plasma and blood. As a result, it finds extensive applications in clinics, diagnostic laboratories, hospitals and pharmaceutical manufacturing units.
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The global lateral flow assay market is primarily being driven by the increasing prevalence of chronic and infectious diseases. LFA is widely used to detect the presence of pathogens or biomarkers in samples of food, saliva and urine. Moreover, various technological advancements, such as the development of novel smartphone applications, are providing a thrust to the market growth. These applications are integrated with artificial intelligence (AI) and machine learning (ML) solutions to automate the accurate reading of the samples. In line with this, the recent outbreak of coronavirus disease (COVID-19) has favored the market growth. LFA kits are widely adopted to detect patients with antibodies and those that have been cured of the infection.
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List of Key Companies Covered in this Market Report:
- Abbott Laboratories
- Becton Dickinson and Company
- Biomerieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Hologic Inc.
- Merck KGAA
- Perkinelmer Inc.
- Qiagen N.V.
- Quidel Corporation
- Siemens Healthineers AG (Siemens AG)
- Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on region, technique, product, application, end user.
Breakup by Technique:
- Sandwich Assays
- Competitive Assays
- Multiplex Detection Assays
Breakup by Product:
- Kits and Reagents
- Lateral Flow Readers
- Digital/Mobile Readers
- Benchtop Readers
Breakup by Application:
- Clinical Testing
- Infectious Disease Testing
- Cardiac Marker Testing
- Pregnancy and Fertility Testing
- Cholesterol Testing/Lipid Profile
- Drug Abuse Testing
- Veterinary Diagnostics
- Food Safety and Environment Testing
- Drug Development and Quality Testing
Breakup by End User:
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care
- Pharmaceutical and Biotechnology Companies
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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