According to Markntel Advisors Report, Lateral Flow Assay Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Lateral flow assays (LFAs) are a widely used diagnostic tool in the healthcare industry. They are simple, portable, and deliver rapid results, making them ideal for point-of-care testing. LFAs are commonly employed for detecting infectious diseases, pregnancy, drugs of abuse, and various biomarkers.
Global Lateral Flow Assay Market Research Report & Summary:
The Global Lateral Flow Assay Market is estimated to grow at a CAGR of around 3.4% during the forecast period, i.e., 2024-30.
Time Period Captured in the Report:
· Historical Years: 2019-22
· Base Years: 2023
· Forecast Years: 2024-2030
Who are the Key Players Operating in the Lateral Flow Assay Market?
The top companies of the Lateral Flow Assay Market ruling the industry are:
Abbott, PerkinElmer Inc., Gold Standard Diagnostics, QIAGEN N.V., Quidel Corporation, IUL, SA, Genobio, FUJIREBIO (H.U. Group company), Hologic Inc., Thermo Fisher Scientific Inc., Abcam PLC, Elabscience Bionovation Inc., P4Q Electronics, F. Hoffmann-La Roche Ltd., Siemens Healthineers, etc
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Global Lateral Flow Assay Industry Recent Development:
· 2023: EDX Medical aimed to deliver multiplex lateral flow assays that could help guide disease treatment or differentiate disease type in coming years.
What is Included in Lateral Flow Assay Market Segmentation?
The Lateral Flow Assay Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Application
-Clinical Testing- Market Size & Forecast 2019-2030, USD Million
-Infectious Disease Testing- Market Size & Forecast 2019-2030, USD Million
-COVID- 19- Market Size & Forecast 2019-2030, USD Million
-Mosquito-borne Disease Testing- Market Size & Forecast 2019-2030, USD Million
-Influenza Testing- Market Size & Forecast 2019-2030, USD Million
-Sexually Transmitted Infection Testing- Market Size & Forecast 2019-2030, USD Million
-HIV Testing- Market Size & Forecast 2019-2030, USD Million
-HPV Testing- Market Size & Forecast 2019-2030, USD Million
-Chlamydia Testing- Market Size & Forecast 2019-2030, USD Million
-Gonorrhoea Testing- Market Size & Forecast 2019-2030, USD Million
-Syphilis Testing- Market Size & Forecast 2019-2030, USD Million
-Others- Market Size & Forecast 2019-2030, USD Million
-Hepatitis- Market Size & Forecast 2019-2030, USD Million
-Tuberculosis- Market Size & Forecast 2019-2030, USD Million
-Others- Market Size & Forecast 2019-2030, USD Million
-Cardiac Market Testing
-Troponin I & T Testing- Market Size & Forecast 2019-2030, USD Million
-CK-MB Testing- Market Size & Forecast 2019-2030, USD Million
-BNP & NT-Probnp Testing- Market Size & Forecast 2019-2030, USD Million
-Myoglobin Testing- Market Size & Forecast 2019-2030, USD Million
-D-Dimer Testing- Market Size & Forecast 2019-2030, USD Million
-Others- Market Size & Forecast 2019-2030, USD Million
-Pregnancy & Fertility Testing- Market Size & Forecast 2019-2030, USD Million
-Pregnancy Testing- Market Size & Forecast 2019-2030, USD Million
-Fertility Testing- Market Size & Forecast 2019-2030, USD Million
-Cholesterol Testing/Lipid Profile- Market Size & Forecast 2019-2030, USD Million
-Drugs of Abuse Testing- Market Size & Forecast 2019-2030, USD Million
-Other Clinical Tests- Market Size & Forecast 2019-2030, USD Million
-Veterinary Diagnostics- Market Size & Forecast 2019-2030, USD Million
-Food Safety & Environment Testing- Market Size & Forecast 2019-2030, USD Million
-Drug Development & Quality Testing- Market Size & Forecast 2019-2030, USD Million
-By Technique
-Sandwich Assays- Market Size & Forecast 2019-2030, USD Million
-Competitive Assays- Market Size & Forecast 2019-2030, USD Million
-Multiplex Detection Assays- Market Size & Forecast 2019-2030, USD Million
-By Therapy
-Lateral Flow Immunoassay- Market Size & Forecast 2019-2030, USD Million
-Nucleic Acid Lateral Flow Assay- Market Size & Forecast 2019-2030, USD Million
-By End User
-Hospitals & Clinics- Market Size & Forecast 2019-2030, USD Million
-Diagnostic Laboratories- Market Size & Forecast 2019-2030, USD Million
-Pharmaceutical & Biotechnology Companies- Market Size & Forecast 2019-2030, USD Million
-Others (Food Companies, Research Organisations, etc.)- Market Size & Forecast 2019-2030, USD Million
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Market Dynamics -Global Lateral Flow Assay Market:
Growing Prevalence of Infectious Diseases to Result in Increased Demand for Point-of-Care Testing – There is a huge burden of infectious diseases, including respiratory infections, gastrointestinal infections, etc., across the globe. Being a fast & cost-effective method to detect infectious agents rapidly, the demand for lateral flow assays as solutions has also increased simultaneously. Also, HIV, the deadly disease, has claimed the lives of many across the world and has thereby necessitated the early and regular testing of HIV via lateral flow assays to improve the survival rate of patients with proper disease management.
Furthermore, there has been a significant increase in the demand for point-of-care testing offered by lateral flow assays, particularly in remote or resource-limited settings, where a rise in the prevalence of infectious diseases has been witnessed, and quick & convenient diagnostic results were crucial at the patient's location, thereby driving the growth of the overall Lateral Flow Assay Market.
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