Global Lateral Flow Assay Market Research Growth, Trend and Forecast 2018
The Global Lateral Flow Assay Market was valued at USD 4.81 billion in 2016 and is projected to reach USD 9.36 billion by 2025, growing at a CAGR of 7.67% from 2017 to 2025.
Lateral Flow Assays are simple devices intended to detect the presence or absence of a target in sample matrix without the need for specialized and costly equipment, though many lab based applications exist that are supported by reading equipment. Typically, these tests are used for medical diagnostics either for home testing, point of care testing, or laboratory use. A widely spread and well known application is the home pregnancy test.
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Market Dynamics:
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Market Drivers
1.1 Spread of infections all over the Globe
1.2 High paced Growth in Geriatric population
1.3 Growing usage of home based devices of lateral flow assay
1.4 Increment in demand of Point-of-care Testing
2. Market Restraints
2.1 Resistance in changing traditional ways of Diagnostics
2.2 U.S. Govt. implementation of excise duty on medical devices
2.3 Regulatory policies
Market Segmentation:
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Global Lateral Flow Assay Market, by Application:
1.1 Clinical/Point-of-Care Testing
1.1.1 Infectious Disease Testing
1.1.1.1 Mosquito-Borne Disease Testing
1.1.1.2 Influenza Testing
1.1.1.3 Sexually Transmitted Infections
1.1.1.4 Hepatitis
1.1.1.5 Tuberculosis
1.1.1.6 Other Infectious Diseases
1.1.2 Cardiac Marker Testing
1.1.3 Pregnancy & Fertility Testing
1.1.3.1 Pregnancy Testing
1.1.3.2 Fertility Testing
1.1.4 Cholesterol/Lipid Testing
1.1.5 Drugs-of-Abuse Testing
1.1.6 Other Tests
1.2 Veterinary Diagnostics
1.3 Food Safety & Environment Testing
1.4 Drug Development & Quality Testing
2. Global Lateral Flow Assay Market, by End User:
2.1 Hospitals and Clinics
2.2 Home Care
2.3 Diagnostic Laboratories
2.4 Other End Users
3. Global Lateral Flow Assay Market, by Technique:
3.1 Sandwich Assays
3.2 Competitive Assays
3.3 Multiplex Detection Assays
4. Global Lateral Flow Assay Market, by Region:
4.1 North America U.S., Canada, Mexico
4.2 Europe Germany, UK, France, Rest of Europe
4.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
4.4 Latin America Brazil, Argentina, Rest of Latin America
4.5 Middle East & Africa
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The major players in the market are as follows:
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Alere Inc.
2. F. Hoffmann-La Roche AG
3. Danaher Corporation
4. Siemens AG
5. Johnson & Johnson
6. Becton, Dickinson and Company
7. Biomérieux SA
8. Bio-Rad Laboratories, Inc.
9. Thermo Fisher Scientific Inc.
10. Qiagen N.V.
11. Perkinelmer Inc.
12. Abbott Laboratories
13. Hologic, Inc.
14. Quidel Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports
Research study on the Lateral Flow Assay Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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