DUBLIN, Dec. 5, 2022 /PRNewswire/ -- The "Lateral Flow Assays Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global lateral flow assays market is expected to grow from $9.75 billion in 2021 to $10.39 billion in 2022 at a compound annual growth rate (CAGR) of 6.55%. The lateral flow assays market is expected to grow to $12.52 billion in 2026 at a compound annual growth rate (CAGR) of 4.78%.
The main types of lateral flow assay are kits and reagents, and lateral flow readers. The lateral flow readers refer to instruments used to read and analyze the findings of lateral flow tests. The lateral flow assay works on sandwich assays, competitive assays, and multiplex detection assays techniques. These are used for veterinary diagnostics, clinical/point-of-care testing, drug development and quality testing, and other applications by hospitals and clinics, diagnostic laboratories, home care settings, pharmaceutical and biotechnology companies, and other end users.
North America was the largest region in the lateral flow assays market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lateral flow assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high prevalence of infectious diseases across the globe significantly contributes to the growth of the lateral flow assay market. In developing countries, the high frequency of infectious diseases such as HIV and malaria, combined with the inadequate healthcare system and raising public awareness, is projected to accelerate the adoption of lateral flow assay testing.
The recent COVID-19 pandemic has highlighted the need for early illness detection capabilities, projected to fuel market expansion. According to the Centres for Disease Control and Prevention, the reported cases of infectious diseases rose from 2.97 million cases in 2018 to 3.10 million cases in 2019, a 4% rise in cases in one year. Therefore, the high prevalence of infectious diseases across the globe will contribute to the growth of the lateral flow assay market.
Technological advancements are the key trends gaining popularity in the lateral flow assays market. Key players operating in the lateral flow assays market are focusing on developing innovative technological testing products to strengthen their position in the market. For instance, in November 2021, IUL SA, a Spain-based laboratory equipment manufacturer introduced iPeak Europium, a new lateral flow reader equipped with iPeak technology based on machine vision illumination principles to scan fluorescence-labeled lateral flow tests. The fluorescence lateral flow tests provide high sensitivity and specificity as well as an affordable alternative to other PCR tests.
1) By Type: Kits And Reagents; Lateral Flow Readers
2) By Technique: Sandwich Assays; Competitive Assays; Multiplex Detection Assays
3) By Application: Veterinary Diagnostics; Clinical/Point-Of-Care Testing; Drug Development And Quality Testing; Other Applications
4) By End-User: Hospitals And Clinics; Diagnostic Laboratories; Home Care Settings; Pharmaceutical And Biotechnology Companies; Other End Users
Key Topics Covered:
1. Executive Summary
2. Lateral Flow Assays Market Characteristics
3. Lateral Flow Assays Market Trends And Strategies
4. Impact Of COVID-19 On Lateral Flow Assays
5. Lateral Flow Assays Market Size And Growth
6. Lateral Flow Assays Market Segmentation
7. Lateral Flow Assays Market Regional And Country Analysis
8. Asia-Pacific Lateral Flow Assays Market
9. China Lateral Flow Assays Market
10. India Lateral Flow Assays Market
11. Japan Lateral Flow Assays Market
12. Australia Lateral Flow Assays Market
13. Indonesia Lateral Flow Assays Market
14. South Korea Lateral Flow Assays Market
15. Western Europe Lateral Flow Assays Market
16. UK Lateral Flow Assays Market
17. Germany Lateral Flow Assays Market
18. France Lateral Flow Assays Market
19. Eastern Europe Lateral Flow Assays Market
20. Russia Lateral Flow Assays Market
21. North America Lateral Flow Assays Market
22. USA Lateral Flow Assays Market
23. South America Lateral Flow Assays Market
24. Brazil Lateral Flow Assays Market
25. Middle East Lateral Flow Assays Market
26. Africa Lateral Flow Assays Market
27. Lateral Flow Assays Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Lateral Flow Assays Market
29. Lateral Flow Assays Market Future Outlook and Potential Analysis
Roche Holding AG
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