Lateral Flow Immunoassay (LFIA) Based Rapid Test Market by Application Type (Infectious Disease, Pregnancy & Fertility, Toxicology and Others), Technique type (Competitive Assay, Sandwich Assay, and Multiplex Detection Assay), and End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
New York, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lateral Flow Immunoassay Based Rapid Test Market by Application Type, Technique type, and End User : Global Opportunity Analysis and Industry Forecast, 2019–2026" - https://www.reportlinker.com/p05836983/?utm_source=GNW
The global LFIA based rapid test market was valued at $4,725 million in 2018, and is projected to reach $8,494 million by 2026, registering a CAGR of 7.6% from 2019 to 2026.
Lateral flow tests, or lateral flow immunochromatographic assays, are simple cellulose-based medical devices used to detect the presence of a target analyte in sample without use of specialized equipment where preliminary screening tests need to be conducted. These tests are incorporated in diagnosis of different diseases and health conditions such as HIV, influenza, malaria, pregnancy & fertility, drug screening, and others.
It is estimated that LFIA based rapid test market is expected to experience significant market growth during the forecast period as these tests are easy to perform, quick, and provide specific results; hence, are used in settings with limited resources. In addition, increased promotional activities by manufacturers encourage the usage these tests, which further facilitate the growth of the market. However, stringent government regulations for the approval of rapid tests and recall of several products due to false results are expected to impede the market growth. Moreover, increase in awareness regarding early diagnosis of disease, surge in initiatives by the government agencies, increase in incidence of infectious diseases, and need for low cost as well as accurate diagnostic testing are further supports the market growth.
The global rapid tests market is segmented into application, technique, end user, and region. The applications covered in the study include, infectious disease, pregnancy & fertility, toxicology, and others. Depending on techniques, the market is classified into competitive assay, sandwich assay, and multiplex detection assay. The infectious disease segment is further influenza, mosquito-borne diseases, HIV, hepatitis, and others. In addition, Dengue, chikungunya, malaria, and others are covered under mosquito-borne diseases. According to end user, the market is segmented as hospital & clinic, diagnostic laboratory, home care, and others. By region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, Philippines, Vietnam, Malaysia, Thailand, Singapore, Indonesia, Myanmar, Sri Lanka, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
• A comprehensive analysis of all the geographical regions is provided to determine the existing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
• Infectious disease
o Mosquito-borne diseases
• Pregnancy & fertility
By Technique type
• Competitive assay
• Sandwich assay
• Multiplex detection assay
By End User
• Hospital & clinic
• Diagnostic laboratory
• Home care
• North America
o Rest of Europe
o Sri Lanka
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
• Abbott Laboratories (Alere Inc.)
• Becton, Dickinson and Company
• Bio-rad Laboratories, Inc.
• Danaher Corporation (Cepheid, Inc.)
• Hologic, Inc.
• Quidel Corporation
• F. Hoffmann-La Roche AG (Roche Diagnostics)
• BIOMERIEUX SA
• QIAGEN N.V.
• Thermo Fisher Scientific
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)
• Abingdon Health
• ARKRAY, Inc.
• Biocom Diagnostics
Read the full report: https://www.reportlinker.com/p05836983/?utm_source=GNW
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