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Lateral Flow Assay Market Trends, Segment and Future Growth to 2023 - Major Key Players (Alere Inc., F. Hoffmann-La Roche AG, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, bioMérieux SA, Johnson & Johnson, Bio-Rad Laboratories Inc., The

12-06-2018 09:36 AM CET | Health & Medicine

Press release from: Market Data Forecast

Lateral Flow Assay Market Overview

Lateral flow assays (LFAs) are the technology behind the low-cost, simple, rapid and portable detection devices, which are popular in biomedicine, agriculture, food and environmental sciences. Lately, these types of assays have fascinated considerable attention due to its potential to provide immediate diagnosis to patients. The variety and interpretation of these results and parameters are used for the assessment of the assay.

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Lateral flow assay test market is anticipated to witness the positive growth due to high incidences of infectious and communicable diseases and increase in the use of rapid testing in home care settings. Moreover, raising in the geriatric population, rise in the use of lateral flow assay in clinical laboratory practice, increase in the chronic diseases, and technology advancements are expected to further boost the market growth in the upcoming years. However, increase in the regulations, inconsistency in test results may pose restrain to the lateral flow assay market in the upcoming years.

Lateral Flow Assay Market Forecast Report (2018-2023)

The Global Lateral Flow Assay Market Size was worth at 8.2% CAGR from 2018 to 2023 and it is estimated that the global market was valued at USD 6.51 billion in 2018 and it is expected to reach USD 9.65 billion by 2023.

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Lateral Flow Assay Market Segmentation

The global Lateral Flow Assay Market classified by Product, Application, Technique and End User. On the basis of Product, it is classified into Reader and Kit. The kits segment held the largest share in this market segment due to the increase in the application of lateral flow kits for point-of-care testing, growth in the chronic diseases, and rapidly increasing the use of lateral flow kits in home care. On the basis of Application, it is classified into Clinical (Pregnancy, Infectious Disease, Lipid, and Cardiac Marker), Veterinary, Drug Development and Food Safety. The clinical testing segment held by the largest share of this market segment. The rise in geriatric population and incidences of the chronic diseases, growth in the pressure to decrease healthcare costs, and increase in the demand for patient-centric care are the major factors in the growth of clinical/POC testing market. On the basis of Technique, it is classified into Competitive, Multiplex and Sandwich. On the basis of End User, it is segmented into Hospitals and Clinics, Diagnostic Laboratories, Home Care, Pharmaceutical and Biotechnology Companies.

Lateral Flow Assay Market geographical segmentation

On the basis of geography, the market is segmented under various regions namely North America, Europe, Asia Pacific, Middle East and Africa. North America had the largest share in the market. North America and Europe will remain the key markets for lateral flow assay test market because of the high demand for decentralized laboratory test and presence of the highly evolved health care system will enhance this market significantly. Asia Pacific is expected to witness the highest CAGR in the upcoming years due to the governmental initiatives, improved healthcare infrastructure, and increase in the demand for quality care at affordable price.

Key Developments in the Market

In 2018, F. Hoffmann-La Roche AG (Switzerland) launched the Elecsys CSF immunoassays (LFIA )
In 2018,the Danaher Corporation launched Syva EMIT II Plus 6-AM and BUP assays (Drug of Abuse)
In 2017, the Abbott Laboratories (US) acquired Alere, Inc. (US) to develop a strong, diverse portfolio of the devices, diagnostics, nutritionals, and branded generic pharmaceuticals. Alere was the leading player in the lateral flow assay market prior to its acquisition by Abbott.
In 2018, Siemens AG (Germany) acquired the Fast Track Diagnostics Luxembourg S.à.r.l. FTD’s broad range of CE-marked infectious disease detection tests, and syndromic panels expands of the Siemens Healthineers product portfolio.
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Major Players:

Major players in the current market are:

Alere Inc.
Hoffmann-La Roche AG
Danaher Corporation
Siemens AG
Becton
Dickinson and Company
bioMérieux SA
Johnson & Johnson
Bio-Rad Laboratories Inc.
Thermo Fisher Scientific Inc.
QIAGEN N.V.
PerkinElmer Inc.
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About Us

Market Data Forecast is dedicate working in the areas of market research, business intelligence and consulting. We have a great experience in research and consulting for different business domains to cater the needs of both individual and corporate clients.

For more information:

Abhishek Shukla

Sales Manager at Market Data Forecast

Email: abhishek@marketdataforecast.com

Tel: +1-888-702-9626

Website: www.marketdataforecast.com

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