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Lateral Flow Assay Market Growing at a Tremendous CAGR of 8.29% by 2029
PUNE, MAHARASHTRA, INDIA, August 29, 2022 /EINPresswire.com / -- Lateral Flow Assay market report analyses key factors of the Healthcare industry which offers precise and accurate data and information for the business growth. The document is generated with the systematic gathering and analysis of information about individuals or organizations which is conducted through social and opinion research. Also, competitive analysis gives a clear idea about the strategies used by the major competitors in Lateral Flow Assay market that perks up their penetration in the market.
The significant Lateral Flow Assay market report is a complete overview of the market that spans various aspects such as product definition, customary vendor landscape, and market segmentation based on various parameters such as type of product, its components, type of management and geography. It includes main manufacturers, suppliers, distributors, traders, customers, investors, major types, and major applications. Most appropriate, unique and creditable global market research report is put forth for the valuable customers and clients depending upon their specific business needs. The persuasive Lateral Flow Assay marketing report helps strengthen an organization and make better decisions for driving the business on the right track.
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Leading Key Players Operating in the Lateral Flow Assay Market Includes:
STRATEC SE (Germany)
PerkinElmer, Inc. (U.S.)
DRG International, Inc. (U.S.)
MP BIOMEDICALS (U.S.)
Cisbio (France)
Euro Diagnostica AB (Sweden)
Tecan Trading AG (Switzerland)
p.A. (Italy)
EMD Millipore (U.S.)
iZotope, Inc. (U.S.)
Key Market Analysis and Insights:
Data Bridge Market Research analyses that the lateral flow assay market is expected to reach the value of USD 12.75 billion by the year 2029, at a CAGR of 8.29% during the forecast period. The high consumption rate for home-based lateral flow testing products and solutions, combined with the need for better point-of-care testing products, will drive growth in the lateral flow assay market from 2022 to 2029.
Lateral Flow Assays (LFAs) were developed over a half-century ago to aid in diagnosis in a variety of applications, including healthcare, environmental testing, and food and beverage. The use of LFAs in point-of-care diagnostic settings has gained significant traction in the research community, fuelling the growth of the lateral flow assay market.
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Global Lateral Flow Assay Market Scope and Market Size
The lateral flow assay market is segmented on the basis of product, technique, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
Kits and Reagents
Lateral flow readers
Technique
Sandwich assays
Competitive assays
Multiplex detection assays
End User
Hospitals and Clinics
Home care
Pharma and biotech companies
Diagnostic laboratories
Others
Application
clinical/POCT testing
veterinary diagnostics
food safety & environment testing
drug development & quality testing
Lateral Flow Assay Market, By Region:
Global Lateral Flow Assay market is analyzed and market size insights and trends are provided by country, product as referenced above.
The countries covered in the Lateral Flow Assay market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the Lateral Flow Assay market because of the rise in the cases of arrhythmic diseases, favorable reimbursement policies for patients, high demand for advanced treatment methods and developed healthcare infrastructure in the region. Asia-Pacific is estimated to grow in the forecast period due to the high prevalence of cardiovascular diseases, increase in adoption of advanced digital devices, large population and launch of new innovative products.
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Lateral flow assay Market Dynamics
Drivers
The rapid antigen testing promotes market growth
Rapid antigen testing at the point of care is possible with lateral flow assay devices, which can provide results in less time than ELISA tests. Furthermore, lateral flow assay tests have been rapidly adopted in the veterinary sector, boosting overall market growth.
The significant collaborations among key market players
Technological advancements and significant collaboration efforts among key pharmaceutical industry players, funding programmes, and the presence of reimbursement agencies will drive even higher demand for lateral flow rapid test diagnostics.
Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the lateral flow assay market.
Table of Contents: Global Lateral Flow Assay Market
1 Introduction
2 Market Segmentation
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Covid-19 Impact on Lateral Flow Assay in Healthcare Industry
7 Global Lateral Flow Assay Market, by Product Type
8 Global Lateral Flow Assay Market, by Modality
9 Global Lateral Flow Assay Market, by Type
10 Global Lateral Flow Assay Market, by Mode
11 Global Lateral Flow Assay Market, by End User
12 Global Lateral Flow Assay Market, by Geography
13 Global Lateral Flow Assay Market, Company Landscape
14 Swot Analysis
15 Company Profiles
16 Questionnaire
17 Related Reports
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