According to a report, “Lateral Flow Assay Market Size, Share & Trends Analysis Report By Product (Kits & Reagents, Lateral Flow Readers), By End Use, By Application (Clinical Testing, Veterinary Diagnostics), By Technique, By Region, And Segment Forecasts, 2019 － 2026”, lateral flow assays are cellulose based devices used in the detection of a target component in the liquid sample excluding the need for any specialized equipment. Growing prevalence of infectious disease is expected to remain pivotal for market growth in the coming years.
The geriatric population widely suffers from inflammatory and bowel diseases. Although the treatments are available worldwide, there is a huge demand for lateral flow assays since these devices enhance the treatment methods for geriatric population. For instance, according to the U.S. Department of Health & Human Services, the U.S. Government has formed the President’s Emergency Plan for AIDS Relief (PEPFAR). This emergency plan works towards the prevention, response and early detection of existing as well new risks related to immune system.
In addition, the rise in prevalence of infectious diseases is expected to propel the market growth in the coming years. According to the WHO, alone in 2019, there were more than 219 million cases of malaria and more than 10 million cases of TB in Africa and South East Asia.
Lateral Flow Assay Market Report Highlights:
Kits & reagents held the largest share based on product as they offer easy, effective, and rapid diagnosis of chronic and infectious diseases
The clinical testing segment held the largest market share in the past years owing to increase in incidence of infectious diseases, rise in pressure to reduce overall healthcare costs, and increasing demand for POC testing devices that can be used at any healthcare setting
Technological advancements in the healthcare sector, innovation in technology and devices, and increase in the adoption of POC testing by patients and healthcare professionals is anticipated to fuel market growth during the forecast period
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Grand View Research has segmented the global lateral flow assay market on the basis of product, application, technique, end use, and region:
Lateral Flow Assay Product Outlook (Revenue, USD Million, 2015 － 2026)
Kits & Reagents
Lateral Flow Readers
Lateral Flow Assay Application Outlook (Revenue, USD Million, 2015 － 2026)
Infectious Diseases Testing
Mosquito Borne Disease Testing
Sexually Transmitted Infection Testing
Cardiac Marker Testing
Troponin-I and T-Testing
BNP and NT-ProBNP Testing
Pregnancy & Fertility Testing
Cholesterol Testing/Lipid Profile Testing
Drugs of Abuse Testing
Food safety & Environment Testing
Drug Development & Quality Testing
Lateral Flow Assay Technique Outlook (Revenue, USD Million, 2015 － 2026)
Multiplex Detection Assay
Lateral Flow Assay End-use Outlook (Revenue, USD Million, 2015 － 2026)
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Lateral Flow Assay Regional Outlook (Revenue, USD Million, 2015 － 2026)
List of Key Players for Lateral Flow Assay Market:
Thermo Fisher Scientific Inc
Becton Dickinson and Company
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