Global Lateral Flow Assays Market Report 2021: Market to Reach $11.6 Billion by 2027 - Technological Advancements Remain Crucial to Future Growth
DUBLIN, July 8, 2021 /PRNewswire/ -- The "Lateral Flow Assays - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Lateral Flow Assays Market to Reach US$11.6 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Lateral Flow Assays estimated at US$7.8 Billion in the year 2020, is projected to reach a revised size of US$11.6 Billion by 2027, growing at a CAGR of 5.9% over the period 2020-2027.
Kits & Reagents, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$9.6 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lateral Flow Readers segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 17.9% share of the global Lateral Flow Assays market.
The U.S. Accounts for Over 38.6% of Global Market Size in 2020, While China is Forecast to Grow at a 8.8% CAGR for the Period of 2020-2027
The Lateral Flow Assays market in the U.S. is estimated at US$3 Billion in the year 2020. The country currently accounts for a 38.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$917 Million in the year 2027 trailing a CAGR of 8.8% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$917 Million by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Challenges and Opportunities for Clinical Diagnostics amid the Pandemic
- Impact of COVID-19 on Lateral Flow Assays Market
- Performance Analysis of COVID-19 Tests
- Lateral Flow Assay-based Tests Soar into Spotlight during COVID-19 Pandemic
- LFAS Arms Nations to Battle the Coronavirus
- 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 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
- The US Retains Leadership Tag in Global Lateral Flow Assays Market
- Fast Paced Growth Projected in Developing Regions
- Market Outlook
- Competitive Scenario
- RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS (Total 55 Featured)
- Abbott Laboratories, Inc.
- Alere, Inc.
- Becton, Dickinson and Company
- bioMerieux SA
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Hologic, Inc.
- Johnson & Johnson
- PerkinElmer, Inc.
- Qiagen NV
- Quidel Corporation
- Siemens AG
- Thermo Fisher Scientific, Inc.
3. MARKET TRENDS & DRIVERS
- Growing Incidence of Infectious Diseases to Drive LFA Market
- Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth
- 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
- Uptrend in Healthcare Spending Creates Fertile Environment
- Ageing Demographics to Drive Demand
- Self-Diagnosis Emerges as a 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. REGIONAL MARKET ANALYSIS
- Total Companies Profiled: 55
For more information about this report visit https://www.researchandmarkets.com/r/mjzbri
Research and Markets
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