Report ID: 10151780 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
The lateral flow immunoassays market is expected to grow at a compound annual growth rate of ~9% from 2022 to 2030, and will reach ~USD 16 billion by 2030. Lateral flow detection kits are used for rapid detection of infectious diseases, cardiac markers, pregnancy and fertility, cholesterol analysis/lipid distribution and drug abuse. They are also used to test food and beverages. The growth of the lateral flow testing market is mainly driven by many factors, such as the spread of various chronic and infectious diseases, the increasing use of lateral flow testing kits in the family, and the growth of government initiatives to improve health. The demand continues to grow. -Nursing testing, due to the advantages of innovative and rapid LFA testing over laboratory testing, LFA is increasingly adopted. In addition, the recent COVID-19 outbreak has had a positive impact on the growth of the LFA market in 2019-2020. The impact of COVID-19 on the side-stream testing market: Over the past few months, due to the COVID-19 pandemic, the side-stream testing (LFA) market has seen considerable growth. Tests based on lateral flow assays are used worldwide to diagnose COVID-19 infections because the LFA test kit has proven to be possible to detect both symptomatic and asymptomatic COVID-19 infections. Many healthcare companies focus on the development of lateral flow detection devices that can use finger pricks, saliva samples or swabs, and nasal fluid to detect patient antibodies (IgG and IgM) or COVID-19 virus antigens in blood samples. Factors driving the demand for COVID-19 testing on LFA-based devices include the low cost of LFA devices and the fact that no trained personnel are required to perform the tests. The potential of LFA equipment to detect symptomatic and asymptomatic COVID-19 infection is its main advantage over other detection methods. For example, RT-PCR can only identify patients with active infections, while LFA-based testing equipment can identify patients who are asymptomatic, have cured the infection, and are no longer at risk of spreading the virus to others. In addition, LFA-based tests can diagnose different stages of COVID-19 infection in patients. To a large extent, LFA-based testing has affected the medical and economic decisions of countries that continue to be affected by the COVID-19 pandemic and those that are preparing for a second wave of the epidemic in the near future. Some of the products and approvals for lateral flow assay-based devices recently launched by major companies include: In July 2020, Abbott Laboratories (USA) launched a COVID-19 antigen detection kit. In September 2020, F. Hoffmann-La Roche AG (Switzerland)) Launched SARS-CoV-2 antigen rapid detection kit and SARS-CoV-2 antibody rapid detection kit. In April 2020, Siemens Healthineers AG (Germany) launched a test kit for the coronavirus COVID-19. In July 2020, Becton, Dickinson and Company (USA) released an antigen detection kit for the detection of SARS-CoV-2. In March 2020, Becton, Dickinson and Company (USA 2 real-time PCR detection kit. In September 2020, QIAGEN NV (Germany) released its Access Anti-SARS-CoV-2 detection kit. In 2020, QIAGEN NV ( Germany) launched its Access Anti-SARS-CoV-2 Total. Therefore, the COVID-19 pandemic has had a positive impact on the lateral flow detection market. The main findings of the lateral flow detection market research: The revenue generated by the kits and reagents is higher than that of the lateral flow readers. In 2020, the kits and reagents will account for the majority of the lateral flow detection market. The large share of this part is mainly due to the increasing use of kits and reagents due to the innovation and advantages of rapid LFA testing over laboratory testing; the increasing prevalence of various chronic and infectious diseases around the world; and medical treatment A large number of rapid detection kits for lateral flow analysis released by healthcare companies are mainly used for COVID-19 testing. Sandwich testing technology dominates the market: In 2020, the sandwich testing field will occupy most of the market. Much of this market segment is mainly due to a variety of factors, such as the development of sandwich detection applications in medical testing environments and the advantages of sandwich detection, such as increased sensitivity and specificity for larger analytes. In addition, the two companies have launched a large number of rapid detection kits based on lateral flow detection, which are based on sandwich detection technology for COVID-19 detection, which is expected to contribute to the growth of this market segment. The clinical testing sector accounts for the largest proportion: In 2020, the clinical testing sector will account for the largest proportion. Much of this market segment is mainly attributable to the growth of government initiatives to raise health awareness, the increase in peoples awareness of clinical testing, and the increasing prevalence of chronic and infectious diseases around the world. In addition, continued progress in horizontal flow testing is expected to contribute to the growth of this segment. Hospitals and clinics dominate the lateral flow testing market: In 2020, hospitals and clinics will account for the majority of the market. Much of this market segment is mainly due to factors such as the increasing adoption of lateral flow assay (LFA) equipment due to its advantages over traditional laboratory testing and the increasing number of hospitalizations worldwide. In addition, the sudden increase in demand for lateral flow analysis tests during the COVID-19 pandemic is expected to further drive growth in this area. Key Players: The report presents a competitive landscape based on a comprehensive assessment of the key strategic developments of key market players over the past four years. Leading players in the Immunochromatography Market report include Abbott Laboratories (USA), Danaher Corporation (USA), F Hoffmann La Roche AG (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson & Company (USA).Bio M rieux SA (France), Bio-Rad Laboratories, Inc. (USA), Thermo Fisher Scientific Inc. (USA), QIAGEN NV (Germany), PerkinElmer Inc. (USA), Quiddell Company (USA), Merck KZA (Germany). Report Scope: Lateral Flow Measurement Market by Product and Reagent, Digital/Manual Lateral Flow Measurement, Bank Reader, Lateral Flow Measurement Market, including Technologies, Sandwich Measurement, Competitive Testing, Multi-sensing Measurement, Market Lateral Flow Measurement in Clinical Application Testing (Ref. : Other end users are water treatment plants and food processing plants)
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Report ID: 10151780 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
