Lateral Flow Assays Market Size, Share, Growth 2021-2027
A comprehensive overview of the lateral flow assays market is recently added by UnivDatos Market Insights to its humongous database. The lateral flow assays market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the lateral flow assays market. The lateral flow assays market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the lateral flow assays market at the global and regional levels. The Global Lateral Flow Assays Market is expected to grow at a CAGR of around 5% from 2021-2027.
Request Sample Copy of this Report @ https://univdatos.com/get-a-free-sample-form-php/?product_id=12284
Market Overview
The lateral flow assays market is anticipated to grow on account of the growing technological advancement and frequent product launches. For example, in June 2021, Novacyt launched two COVID-19 antigen lateral flow tests by expanding its COVID-19 product portfolio. The company introduced Pathflow COVID-19 rapid antigen and PathFLow COVID-19 rapid antigen pro tests. Additionally, the increase in usage of home-based lateral flow devices owing to the factors such as portability, compactness, and rapid interpretation of results are also some of the prominent reasons contributing towards the market growth.
Furthermore, the growing geriatric population base with a higher predisposition to various age-related diseases such as cancer, cardiovascular diseases, arthritis, hypertension, among others and other infectious diseases is one of the leading causes that is adding pace to the growth in the demand for lateral flow assays kits. For instance, according to the United Nations, the global population aged 60 years or over was numbered at 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. Owing to this, there has been a surge in usage of home-based lateral flow assays kits which in turn is boosting the growth of lateral flow assays market globally.
COVID-19 Impact
The COVID-19 pandemic has provided tremendous research resources while also highlighting the threat of deadly epidemic-prone diseases worldwide. Over the last decade, a technical revolution has created many new capabilities for pandemic response. Lateral flow assays market has been witnessing a significant growth amid the COVID-19 pandemic as lateral flow assays emerged as a cornerstone for the management of the COVID-19 pandemic. Owing to the high demand for diagnostics solutions all over the world, many industry leaders focused on the early commercialization of lateral flow assays kits for rapid testing of COVID-19.
Global lateral flow assays market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily fragmented into
· Kits & Reagents
· Lateral Flow Readers
Ø Digital/Handheld Readers
Ø Benchtop Readers
Ø Mobile/Smartphone Readers
Amongst Products, the kits & reagents segment of the global lateral flow assays market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027.
By Application, the market is primarily segmented into
· Clinical Testing
· Veterinary Diagnostics
· Food Safety & Environment Testing
· Drug Development & Quality Testing
By Applications, the clinical testing segment dominated the global lateral flow assays market and will row at XX% CAGR to reach US$ XX billion by the year 2027.
By Technique, the market is primarily fragmented into
· Sandwich Assays
· Competitive Assays
· Multiplex Detection Assays
By Technique, the sandwich assays segment garners a significant share of the global lateral flow assays market and will row at XX% CAGR to reach US$ XX billion by the year 2027.
By End-Users, the market is primarily segmented into
· Hospitals & Clinics
· Diagnostics Laboratories
· Home Care
· Pharmaceutical & Biotechnology Companies
· Others
Amongst End-Users, the hospitals & clinics segment of the global lateral flow assays market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027.
Lateral Flow Assays Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
· Asia-Pacific (China, India, Australia, Japan, and Rest of Asia-Pacific)
· Rest of the World
Geographically, the North America region dominated the lateral flow assays market with almost US$ XX billion revenue in 2020 owing to the well-established market players in the region.
Ask for Report Customization @ https://univdatos.com/get-a-free-sample-form-php/?product_id=12284
The major players targeting the market includes
· Abbott Laboratories
· F. Hoffman-La Roche Ltd.
· Danaher Corporation
· Thermo Fisher Scientific, Inc.
· Bio-Rad Laboratories
· Siemens AG
· PerkinElmer Inc.
· Merck KGaA
· Chembio Diagnostic Systems, Inc.
· Dickinson and Company
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the lateral flow assays market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
For more informative information, please visit us @ https://univdatos.com/report/lateral-flow-assay-market/
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the lateral flow assays market?
• Which factors are influencing the lateral flow assays market over the forecast period?
• What are the global challenges, threats, and risks in the lateral flow assays market?
• Which factors are propelling and restraining the lateral flow assays market?
• What are the demanding global regions of the lateral flow assays market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
