(MENAFN- America News Hour) Kenneth Research recently added a report on 'Lateral Flow Assay Market ‘ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Lateral Flow Assay Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter's five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
The Global Lateral Flow Assay Market was valued at USD 4.81 billion in 2016 and is projected to reach USD 9.36 billion by 2025, growing at a CAGR of 7.67% from 2017 to 2025.
Lateral Flow Assays are simple devices intended to detect the presence (or absence) of a target in sample (matrix) without the need for specialized and costly equipment, though many lab based applications exist that are supported by reading equipment. Typically, these tests are used for medical diagnostics either for home testing, point of care testing, or laboratory use. A widely spread and well known application is the home pregnancy test.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Spread of infections all over the Globe
1.2 High paced Growth in Geriatric population
1.3 Growing usage of home based devices of lateral flow assay
1.4 Increment in demand of Point-of-care Testing
2. Market Restraints
2.1 Resistance in changing traditional ways of Diagnostics
2.2 U.S. Govt. implementation of excise duty on medical devices
2.3 Regulatory policies
Market Segmentation:
1. Global Lateral Flow Assay Market , by Application:
1.1 Clinical/Point-of-Care Testing
1.1.1 Infectious Disease Testing
1.1.1.1 Mosquito-Borne Disease Testing
1.1.1.2 Influenza Testing
1.1.1.3 Sexually Transmitted Infections
1.1.1.4 Hepatitis
1.1.1.5 Tuberculosis
1.1.1.6 Other Infectious Diseases
1.1.2 Cardiac Marker Testing
1.1.3 Pregnancy & Fertility Testing
1.1.3.1 Pregnancy Testing
1.1.3.2 Fertility Testing
1.1.4 Cholesterol/Lipid Testing
1.1.5 Drugs-of-Abuse Testing
1.1.6 Other Tests
1.2 Veterinary Diagnostics
1.3 Food Safety & Environment Testing
1.4 Drug Development & Quality Testing
2. Global Lateral Flow Assay Market, by End User:
2.1 Hospitals and Clinics
2.2 Home Care
2.3 Diagnostic Laboratories
2.4 Other End Users
3. Global Lateral Flow Assay Market, by Technique:
3.1 Sandwich Assays
3.2 Competitive Assays
3.3 Multiplex Detection Assays
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4. Global Lateral Flow Assay Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Alere Inc.
2. F. Hoffmann-La Roche AG
3. Danaher Corporation
4. Siemens AG
5. Johnson & Johnson
6. Becton, Dickinson and Company
7. Biomérieux SA
8. Bio-Rad Laboratories, Inc.
9. Thermo Fisher Scientific Inc.
10. Qiagen N.V.
11. Perkinelmer Inc.
12. Abbott Laboratories
13. Hologic, Inc.
14. Quidel Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Lateral Flow Assay Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players.
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