Lateral Flow Assay Market Growing at a Tremendous CAGR of 8.29% by 2029

PUNE, MAHARASHTRA, INDIA, October 7, 2022 /EINPresswire.com/ -- Lateral Flow Assay market report has been structured by chewing over numerous fragments of the present and upcoming market scenario. The report contains all-embracing knowledge and information of rapidly changing market landscape, what already subsists in the market, future trends, or market expectations, the competitive environment, and competitor strategies which assists in planning strategies for healthcare industry with which it is possible to outdo the competitors. The comprehensive Lateral Flow Assay marketing report makes healthcare industry well acquainted with thoughtful knowledge of the global, regional, and local market statistics.

The market size, revenue generated from the sales and technologies by various application segments are properly evaluated in the large scale Lateral Flow Assay report. Market research report includes a thorough analysis of the market drivers, restraints, threats, and opportunities while it also addresses the lucrative investment options for the market players in the coming years. Estimates at a global as well as regional level are offered by the analysts. The finest report compiles all-inclusive intelligence studies that explore almost every aspect of the global market. The data and information is extensively researched and analyzed in the dependable Lateral Flow Assay report to direct market players to improve their business planning and ensure long-term success.

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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.)
DIAsource (U.S.)

Key Market Analysis and Insights:

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.

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.

The lateral flow assay is a diagnostic technique involving the biochemical interaction of antibodies and probe DNA. This method ensures that the test is carried out in a highly simplified manner, at a low cost, and without the need for any interference. It can also be performed by untrained individuals because it is based on a highly user-friendly form of testing.

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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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About Data Bridge Market Research:

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