Lateral Flow Assay is a simple to use diagnostic device used to confirm the presence or absence of a target analyte, such as pathogens or biomarkers in humans or animals, or contaminants in water supplies, foodstuffs, or animal feeds.
Scope of the Report:Factor such as the high prevalence of infectious diseases across the globe, rapidly increasing geriatric population, increasing usage of home-based lateral flow assay devices, and growing demand for point-of-care testing are fueling the growth of the market. The global market of Lateral Flow Assay Industry is not concentrated due to the wide application and consumption scale.
Based on application, the lateral flow assay market is segmented into Medicine, Environment Testing and Food Safety. The medicine and food safety segment are expected to grow at the highest CAGR during the forecast period. The medical sector accounts for the largest market share, approximately 54% in 2019.The high growth of this segment is driven by the medical diagnosis industry to rapid lateral flow assay tests and the shifting of the food & beverage industry from lab-based conventional microbiology techniques to rapid lateral flow assay tests.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field.
The global Lateral Flow Assay market is valued at 4809.9 million USD in 2020 and is expected to reach 6454.3 million USD by the end of 2026, growing at a CAGR of 6.1% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Lateral Flow Assay.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
This report studies the Lateral Flow Assay market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Lateral Flow Assay market by product type and applications/end industries.
Market Segment by Companies, this report covers Thermo Fisher
Bio-Rad Laboratories
Becton, Dickinson
Abbott
Hologic
PerkinElmer
Quidel Corporation
BiomŽrieux
Qiagen
Siemens
BUHLMANN
IMMY
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Sandwich Assays
Competitive Assays
Market Segment by Applications, can be divided into Medicine
Environment Testing
Food Safety
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
