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Lateral Flow Assays Market 2021 Global Analysis & Forecast to 2027 Market Research Report

iCrowdNewswire   Feb 23, 2021  8:00 AM ET

Global Lateral Flow Assays Industry

Lateral flow assay is a diagnostic device used to find the presence of certain analytes, including pathogens, biomarkers or contaminants. They are known with multiple names such as lateral flow immunoassays, lateral flow immunochromatographic assays, rapid tests, pen-side tests and so forth. These are widely used in human health for point-of-care testing along with several other industry sectors such as veterinary, food and feed, environmental, and plant and crop health.

High prevalence of infectious diseases drives the adoption of these assays, in turn, fuels the growth of the market. According to the World Health Organization (WHO), in 2016, around 10.4 million people were sick with tuberculosis across the globe. Such a high prevalence of tuberculosis drives the usage of the immunochromatographic assay for the rapid differentiation of M. tuberculosis and promotes market growth. Certain factors such as stringent regulatory barriers and insufficient reimbursement policies have been hindering the market growth. However, untapped applications of lateral flow assays are anticipated to drive the market growth in the near future. Additionally, technological innovations in these kits such as home-based assays would motivate the future market growth.

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North America contributes for the major share in the global lateral flow assays market due to its well-established healthcare infrastructure. Significant adoption of lateral flow assays for drug discovery and its continuous usage in clinical testing has been motivating the market in the region. Asia-Pacific is projected to witness the fastest growth in the global market during the forecast period. The government of the region focusses on providing significant initiatives for the betterment of the healthcare sector. Furthermore, rising infectious diseases such as tuberculosis in countries such as China and India are motivating the market in the region.

The key players operating in the global lateral flow assays market include Abbott Laboratories, Becton, Dickinson and Co., CytoDiagnostics, Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Lumos Diagnostics, and Thermo Fisher Scientific Inc., among others. Product launch, merger & acquisition, and partnerships are some of the key strategies adopted by the market players and sustain and capture the major market share in the lateral flow assays market. 

Research Methodology 
The market study of lateral flow assays market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. The numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to get first-hand information. Primary research brings authenticity to our reports.

Secondary Sources Include- 
• Financial reports of companies involved in the market
• Authentic Public Databases such as WHO, and others
• Whitepapers, research-papers and news blogs
• Company websites and their product catalog
The report is intended for pharmaceutical and biotechnology companies, healthcare providers, investment companies, government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size and will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation 
1. Global Lateral Flow Assays Market Research and Analysis by Product
2. Global Lateral Flow Assays Market Research and Analysis by Technique
3. Global Lateral Flow Assays Market Research and Analysis by Application
4. Global Lateral Flow Assays Market Research and Analysis by End-Users

The report covers- 
• Comprehensive research methodology of global lateral flow assays market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global lateral flow assays market.
• Insights about market determinants which are stimulating the global lateral flow assays market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

Companies Mentioned 
1. Abbott Laboratories
2. Abingdon Health Group
3. BBI Group
4. Beckman Coulter, Inc.
5. Becton, Dickinson and Co.
7. BioPorto Diagnostics A/S
8. Bio-Rad Laboratories, Inc.
9. Cytodiagnostics, Inc.
10. DCN Diagnostics
11. Expedeon Ltd.
12. F. Hoffmann-La Roche Ltd
13. Humasis Co. Ltd.
14. Lumos Diagnostics
15. Magnasense Technologies
16. Merck KGaA
17. nanoComposix
18. PerkinElmer, Inc.
20. Siemens AG
21. Sirigen Ltd.
22. Tetracore, Inc.
23. The Native Antigen Company
24. Thermo Fisher Scientific, Inc.
25. Trinity Biotech PLC

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Some Major Points from Table of content:

    1.1. Research Methods and Tools
    1.2. Market Breakdown
    1.2.1. By Segments
    1.2.2. By Geography
    1.2.3. By Stakeholders
    2. Market Overview and Insights
    2.1. Definition
    2.2. Analyst Insights & Current Market Trends
    2.2.1. Key Findings
    2.2.2. Recommendation
    2.2.3. Conclusion
    2.3. Rules & Regulations
    3.1. Motivators
    3.1.1. Rising Demand for Lateral Flow Assays in Food & Beverages Industry
    3.1.2. High Prevalence of Infectious Diseases
    3.1.3. Significant Growth in Demand for Home Care-Based Assays
    3.1.4. Increasing Demand for (POC) Point-of-Care Testing Solutions
    3.2. Restraint
    3.2.1. Stringent Government Regulations
    3.2.2. Insufficient Reimbursement for Lateral Flow Assays
    3.3. Opportunities
    3.3.1. Untapped Applications of Lateral Flow Assays
    3.3.2. Technological Advancements and Innovation

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About the Author:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available. We also provide COTS (Commercial off the Shelf) business sector reports as custom exploration agreeing your particular needs.

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