Global Lateral Flow Assays Strategic Business Report 2023: Novel Lateral Flow Assay Marks Shift from Reactive to Proactive Food Safety Testing Approach

DUBLIN, April 7, 2023 /PRNewswire/ — The “Lateral Flow Assays: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

 

The global market for Lateral Flow Assays estimated at US$9.4 Billion in the year 2022, is projected to reach a revised size of US$14.1 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030.

Kits & Reagents, one of the segments analyzed in the report, is projected to record 5.3% CAGR and reach US$11.8 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Lateral Flow Readers segment is readjusted to a revised 4.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 7.5% CAGR

The Lateral Flow Assays market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 7.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.

Select Competitors (Total 55 Featured) –

• ABBOTT Laboratories

• Becton, Dickinson and Company

• bioMerieux SA

• Bio-Rad Laboratories, Inc.

• F. Hoffmann-La Roche AG

• Hologic Inc.

• Merck KGaA

• PerkinElmer Inc.

• QIAGEN N.V.

• Quidel Corporation

• Siemens AG

What`s New for 2023?

• Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

• Global competitiveness and key competitor percentage market shares

• Market presence across multiple geographies – Strong/Active/Niche/Trivial

• Online interactive peer-to-peer collaborative bespoke updates

• Access to digital archives and Research Platform

• Complimentary updates for one year

Story continues

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession

• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022

• Challenges and Opportunities for Clinical Diagnostics amid the Pandemic

• Impact of COVID-19 on Lateral Flow Assays Market

• Performance Analysis of COVID-19 Tests

• COVID-19 Cases Worldwide by Country: As on May 17, 2021

• Lateral Flow Assay-based Tests Soar into Spotlight during COVID-19 Pandemic

• LFAS Arms Nations to Battle the Coronavirus

• Lateral Flow Assays – Global Key Competitors Percentage Market Share in 2022 (E)

• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

• GLOBAL MARKET OVERVIEW

• A Prelude to Lateral Flow Technology

• Lateral Flow Assays: An Introduction

• Lateral Flow Assays: A Mighty, Paper-based Diagnostics Approach

• Lateral Flow Assays Market Appears Poised to Experience Uninterrupted Flow Ahead

• Clinical Testing Remains Primary Application Segment of Lateral Flow Assays Market

• Rising Incidence of Infectious Conditions Ignite Demand

• LFA Overcomes Testing Barriers

• Emerging Applications Present Lucrative Opportunities

• The US Retains Leadership Tag in Global Lateral Flow Assays Market

• Competitive Scenario

• Market Outlook

• RECENT MARKET ACTIVITY

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Incidence of Infectious Diseases to Drive LFA Market

• Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)

• Global Malaria Case Incidence Rate (per 1,000 population) for the Years 2015, 2016, 2017 & 2018

• Global TB Cases (In Millions) Reported to Have Been Treated for the Years 2015-2019

• Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth

• Global HIV Prevalence: Number of People Living with AIDs (in Thousands) by Region for 2018

• Number of AIDS-Related Deaths (in Thousands) by Region for 2018

• Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease

• Home HIV Testing Emerges as a Lucrative Option

• Viral Hepatitis Testing Presents Opportunities for Lateral Flow Assays Market

• Hepatitis B prevalence Worldwide by Region

• Uptrend in Healthcare Spending Creates Fertile Environment

• World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023

• Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023

• Ageing Demographics to Drive Demand

• Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050

• Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030

• Self-Diagnosis Emerge as Notable Trend

• New Approvals of Self-Test Devices to Give a Boost to the Market

• Lateral Flow Assays Hold Rosy Outlook with Emerging Applications Areas

• LFAs Gains Foothold in Multiplexing

• Multiplexed Point-Of-Care Testing

• Remote Healthcare Benefits Lateral Flow Assays Market

• Lateral Flow Assays to Become Landmark Approach in Precision Diagnostics

• Lateral Flow Assays & Precision Diagnostics

• Digitalization of Lateral Flows to Support Healthcare

• Digitalized Lateral Flow Assays: An Exciting Platform to Change Data-Driven Healthcare Domain

• Lateral Flow Assays Emerge as Integral Components of Food Safety & Environmental Testing

• Novel Lateral Flow Assay Marks Shift from Reactive to Proactive Food Safety Testing Approach

• Technological Advancements Remain Crucial to Future Growth

• Researchers Develop Novel Technique to Significantly Increase Accuracy of Lateral Flow Tests

• Smartphone-based Fully-Quantitative Lateral Flow Assay Analyzer for Reliable & Quick Diagnosis

• Innovative Lateral Flow Immunoassays Find Increasing Role in Detection of Dengue & Zika Virus

• Abingdon Health Introduced ADxLR5 Developer for Assay Development

• Rapid Tests Connectivity with Wireless Data Platforms

• Miniaturization of Analytical Instruments Presents Lucrative Opportunities for Handheld Lateral Flow Assay Readers

• Low Accuracy Remains a Major Restraint

• Limited Reimbursement & Raw Material Supply Issues as Key Challenges

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/yrlomv

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