Lateral Flow Assay Market By Product (Reader, Kit)
Lateral Flow Assay Market Analysis, Size, Share, Growth, Trends And Forecasts (2018 To 2023)
(EMAILWIRE.COM, August 20, 2018 ) In the year 2018 Global Lateral Flow Assay Market was valued at USD 6.51 billion. By the year 2023, it is predicted to reach USD 9.65 billion with pace of 8.2% CAGR.
Lateral Flow Assay is also known as lateral flow immunochromatographic assays. Lateral Flow Assay device is used to detect the presence or absence of the intended analyses in the matrix or in the sample. These devices are widely used in the biomedicine, food and environmental sciences, and agriculture due to low cost of technology, simple, fast, and provide accurate test results.
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Factors affecting market growth:
· Increasing prevalence of chronic and other infectious diseases across the globe. (+)
· Rising geriatric population. (+)
· Growing demand for home-based lateral flow assay test kits. (+)
· Increasing disposable incomes globally. (+)
· Rising demand for point-of-care testing. (+)
· Advancement of technology. (+)
· Introduction of new products or devices like portable devices. (+)
· Stringent regulatory policies. (-)
· Inconsistency in test results. (-)
Market Segmentation
The Global Lateral Flow Assay Market is segmented on the basis of
Product
· Kits & Reagents
· Lateral Flow Readers
· (Digital/Mobile Readers, Benchtop Readers)
Technique
· Sandwich Assays
· Competitive Assays
· Multiplex Detection Assays
Application
· Clinical/Point-of-Care Testing
· Infectious Disease Testing
· (Mosquito-Borne Disease Testing, Influenza Testing, Sexually Transmitted Infections, Hepatitis, Tuberculosis)
· Cardiac Marker Testing
· Pregnancy & Fertility Testing
· (Pregnancy Testing, Fertility Testing)
· Cholesterol/Lipid Testing
· Drugs-of-Abuse Testing
· Veterinary Diagnostics
· Food Safety & Environment Testing
· Drug Development & Quality Testing
End User
· Hospitals and Clinics
· Home Care
· Diagnostic Laboratories
· Pharmaceutical
· Biotechnology Companies.
Based on product market, kits segment holds the largest market share in the global lateral flow assay market owing to factors like increasing use of lateral flow kits in home care and growing demand for lateral flow kits for point-of-care testing. On the basis of application market, clinical testing segment is rapidly growing due to rising geriatric population and incidences of chronic diseases which are expected to witness high growth rate in the global lateral flow assay market during the forecast period.
Browse full Table of Contents: https://www.marketdataforecast.com/market-reports/lateral-flow-assay-market-5004/
Key players:
Leading companies for Global Lateral Flow Assay Market are Johnson & Johnson, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., PerkinElmer Inc., Alere Inc., F. Hoffmann-La Roche AG, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, and bioMérieux SA.
About Market Data Forecast
Market Data Forecast is a well versed market research firm catering solutions in the fields of market research, business intelligence and consulting. With a profound knowledge about the global market activities coupled with a customized approach. We render services in the most gripping markets like healthcare, agriculture and food & Beverages
Lateral Flow Assay is also known as lateral flow immunochromatographic assays. Lateral Flow Assay device is used to detect the presence or absence of the intended analyses in the matrix or in the sample. These devices are widely used in the biomedicine, food and environmental sciences, and agriculture due to low cost of technology, simple, fast, and provide accurate test results.
Request Report Sample: https://www.marketdataforecast.com/market-reports/lateral-flow-assay-market-5004/request-sample
Factors affecting market growth:
· Increasing prevalence of chronic and other infectious diseases across the globe. (+)
· Rising geriatric population. (+)
· Growing demand for home-based lateral flow assay test kits. (+)
· Increasing disposable incomes globally. (+)
· Rising demand for point-of-care testing. (+)
· Advancement of technology. (+)
· Introduction of new products or devices like portable devices. (+)
· Stringent regulatory policies. (-)
· Inconsistency in test results. (-)
Market Segmentation
The Global Lateral Flow Assay Market is segmented on the basis of
Product
· Kits & Reagents
· Lateral Flow Readers
· (Digital/Mobile Readers, Benchtop Readers)
Technique
· Sandwich Assays
· Competitive Assays
· Multiplex Detection Assays
Application
· Clinical/Point-of-Care Testing
· Infectious Disease Testing
· (Mosquito-Borne Disease Testing, Influenza Testing, Sexually Transmitted Infections, Hepatitis, Tuberculosis)
· Cardiac Marker Testing
· Pregnancy & Fertility Testing
· (Pregnancy Testing, Fertility Testing)
· Cholesterol/Lipid Testing
· Drugs-of-Abuse Testing
· Veterinary Diagnostics
· Food Safety & Environment Testing
· Drug Development & Quality Testing
End User
· Hospitals and Clinics
· Home Care
· Diagnostic Laboratories
· Pharmaceutical
· Biotechnology Companies.
Based on product market, kits segment holds the largest market share in the global lateral flow assay market owing to factors like increasing use of lateral flow kits in home care and growing demand for lateral flow kits for point-of-care testing. On the basis of application market, clinical testing segment is rapidly growing due to rising geriatric population and incidences of chronic diseases which are expected to witness high growth rate in the global lateral flow assay market during the forecast period.
Browse full Table of Contents: https://www.marketdataforecast.com/market-reports/lateral-flow-assay-market-5004/
Key players:
Leading companies for Global Lateral Flow Assay Market are Johnson & Johnson, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., PerkinElmer Inc., Alere Inc., F. Hoffmann-La Roche AG, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, and bioMérieux SA.
About Market Data Forecast
Market Data Forecast is a well versed market research firm catering solutions in the fields of market research, business intelligence and consulting. With a profound knowledge about the global market activities coupled with a customized approach. We render services in the most gripping markets like healthcare, agriculture and food & Beverages
Contact Information:
Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results