New York, United States , May 22, 2024 (GLOBE NEWSWIRE) -- The Global Latex Agglutination Test Kits Market Size is to Grow from USD 632.57 Million in 2023 to USD 1083.41 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.53% during the projected period.
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The technique known as agarose, which is created by combining an antigen with its matching antibody, agglutinin, is widely used in blood grouping. Latex agglutination testing, also known as latex fixation, is a diagnostic method used in the laboratory to identify specific antibodies and antigens. The test may employ biological fluids such as blood, urine, saliva, or cerebrospinal fluid, depending on the type of sample required. It is necessary to obtain a sample containing the indicated antigen or antibody to perform latex agglutination tests. It is then mixed in dilutions of one with regular saline along with an antigen or antibody coated on latex beads. The rubber beads will gather together if the suspected drug is present. In addition, the prevalence of viral and autoimmune diseases is increasing at an alarming rate, and developing countries are seeing a rapid increase in the availability of latex agglutination test kits to meet the demand. However, it's expected that several problems with these test kits including limited multiplexing capacity, low sensitivity and specificity, and cross-reactivity will prevent the industry from growing.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Latex Agglutination Test Kits Market Size, Share, and COVID-19 Impact Analysis, By Type (ELISA, Hemagglutination Inhibition, Serum Neutralization, and Others), By Application (Hospital, Diagnostic Centers, Specialty Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ELISA segment is anticipated to hold the greatest share of the global latex agglutination test kits market during the projected timeframe.
Based on the type, the global latex agglutination test kits market is divided into ELISA, hemagglutination inhibition, serum neutralization, and others. Among these, the ELISA segment is anticipated to hold the greatest share of the global latex agglutination test kits market during the projected timeframe. The trend toward point-of-care testing and speedy diagnosis has led to the usage of ELISA latex agglutination kits in clinics and other smaller healthcare facilities.
The hospital segment is anticipated to grow at the fastest pace in the global latex agglutination test kits market during the projected timeframe.
Based on the application, the global latex agglutination test kits market is divided into hospitals, diagnostic centers, specialty clinics, and others. Among these, the hospital segment is anticipated to grow at the fastest pace in the global latex agglutination test kits market during the projected timeframe. This is because hospitals offer more medical treatments than any other kind of healthcare facility, are frequently utilized as primary care providers in developing countries, and have favorable reimbursement programs. Furthermore, it is projected that hospital pharmacists will see an increase in demand for latex agglutination test kits due to the expanding population, particularly in rural regions, and the accessibility of hospitals.
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North America is expected to hold the largest share of the global latex agglutination test kits market over the forecast period.
North America is expected to hold the largest share of the global latex agglutination test kits market over the forecast period. The number of manufacturers, the variety of illnesses for which diagnostic testing is necessary, and the existence of laboratories accredited by the Clinical Laboratory Improvement Act (CLIA) are some of the causes that have led to this increase. Despite their well-known simplicity of use and quick results, the frequency with which these kits are used in the region attests to their vital significance in accelerating diagnosis and enhancing patient outcomes.
Asia Pacific is predicted to grow at the fastest pace in the global latex agglutination test kits market during the projected timeframe. There are several reasons for the market's growth, including the existence of advanced healthcare systems in countries like Japan and the ongoing advancements being made in China and India. Many of the countries in the Asia-Pacific (APAC) region are considered developing economies, and they are adopting innovative diagnostics at a very quick speed.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Latex Agglutination Test Kits Market include Thermo Fisher Scientific Inc., Eurofins Abraxis, Bioloegend Inc., bioMérieux S.A., Biotium, HiMedia Laboratories Microbiology International, Bio-Rad Laboratories, Inc., Creative Diagnostics, Atlas Medical GmbH, Cardinal Health, and Others.
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Recent Developments
- In July 2022, Bio-Rad Laboratories, Inc. introduced two products: Synthetic Negative Run Control for infections carried by ticks and HAI Negative Run Control for diseases associated with hospitals, tick-borne meningitis/encephalitis, and sexually transmitted infections.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Latex Agglutination Test Kits Market based on the below-mentioned segments:
Global Latex Agglutination Test Kits Market, By Type
- ELISA
- Hemagglutination Inhibition
- Serum Neutralization
- Others
Global Latex Agglutination Test Kits Market, By Application
- Hospital
- Diagnostic Centers
- Specialty Clinics
- Others
Global Latex Agglutination Test Kits Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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