Lateral Flow Assay Test Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Lateral flow assay tests are also called lateral flow immunochromatographic assay. These are a simple and less costly device used to detect the presence or absence of purposive analyte in the sample. These tests are used for clinical diagnosis, either for POC or home tests or laboratory use. The most well-known application of the lateral flow assay test is the pregnancy test. LFA Tests provide quality results in a shorter time frame. LFA testing is one of the most competitive areas in POC testing devices. With the increase in the prevalence of several infectious and contagious diseases, the lateral flow assay test market is growing. Besides, the market is projected to expand due to increased lateral flow assay testing in clinical laboratory practice.

MARKET DYNAMICS

Factors driving the growth of the lateral flow assay test market are the high frequency of infectious and contagious diseases and the rise in rapid home care settings worldwide. However, rigid regulations, unpredictable test results are likely to hamper the growth of the market. Moreover, technological advancements and an increase in chronic diseases are further expected to create growth opportunities.

MARKET SCOPE

The "Lateral Flow Assay Test Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of lateral flow assay test market with detailed market segmentation by assay type, application, and end user. The lateral flow assay test market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in lateral flow assay test market and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The lateral flow assay test market is segmented on the basis of assay type, application, and end user. On the basis of basis of assay type, the market is categorized as sandwich assay format, competitive assay format and multiplex assay detection format. On the basis of application, the market is categorized as clinical diagnostics, infectious disease testing, cardiac marker testing, pregnancy and fertility testing, cholesterol and lipid testing, drugs of abuse testing, and other testings. On the basis of end user, the market is categorized as hospital, clinics, homecare, diagnostic laboratories, and pharmaceutical and biotechnological companies.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the lateral flow assay test market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The lateral flow assay test market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting lateral flow assay test market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the lateral flow assay test market in these regions.

MARKET PLAYERS

The report covers key developments in the lateral flow assay test market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from lateral flow assay test market are anticipated to have lucrative growth opportunities in the future with the rising demand for lateral flow assay test in the global market. Below mentioned is the list of few companies engaged in the lateral flow assay test market.

The report also includes the profiles of key players in lateral flow assay test market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.

•   Quidel Corporation
  
•   F. Hoffmann-La Roche AG
  
•   Alere, Inc.
  
•   Danaher Corporation
  
•   Abbott Laboratories
  
•   Bio-Rad Laboratories
  
•   Johnson & Johnson
  
•   Thermo Fisher Scientific, Inc
  
•   Biomérieux
  
•   Siemens
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Lateral Flow Assay Test Report Scope