Dublin, April 04, 2023 (GLOBE NEWSWIRE) -- 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 461 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.4 Billion |
| Forecasted Market Value (USD) by 2030 | $14.1 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
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/hszv37
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