Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Growth Rate, Latest Trends, Industry Insights And Forecast To 2033

"The new report published by The Business Research Company, titled Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the lateral flow immunoassay (LFIA) based rapid test market size has declined steeply in recent years. It will decline from $9.19 billion in 2023 to $8.33 billion in 2024 at a compound annual growth rate (CAGR) of -9.4%. The lateral flow immunoassay (LFIA) based rapid test market size is expected to see marginal decline in the next few years. It will decline to $7.79 billion in 2028 at a compound annual growth rate (CAGR) of -1.6%.

Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=3293&type=smp

Rising Demand For Point-Of-Care Testing In Home Care Settings Propels The Lfia-Based Rapid Test Market
The demand for point-of-care testing under home care settings is expected to drive the lateral flow immunoassay (LFIA) based rapid test market. Point-of-care (POCT) testing is essential for rapid on-site diagnosis and treatment. The most important features for current POCT diagnostic systems are a quick analysis time with a test-to-answer format. Lateral flow immunoassays (LFIA) are widely used as POCTs due to their speed and precision, simplicity, and low cost. For instance, the recent outbreak of coronavirus disease (COVID-19) has increased the significance of these devices to rapid screening and surveillance. Acro Biotech COVID-19 Rapid POC CE-IVD is a lateral flow immunoassay that quantifiably assesses the existence of patient-generated IgG and IgM antibodies to SARS-CoV-2, the causative agent of novel coronaviral disease COVID-19. These antibodies may be detected in whole blood, serum, or plasma samples in the test cassette. OZO has developed three different variations of its products using the Latex Enhanced Lateral Flow Immunoassays (LFIAs) method for testing COVID-19. Therefore, the need for point-of-care testing under home care settings is expected to drive the lateral flow immunoassay (LFIA) based rapid test market.

Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers
Major companies operating in the lateral flow immunoassay (LFIA) based rapid test market are focusing on innovative products such as Panbio covid-19 antigen self-test to drive their revenues in the market. The Panbio covid-19 antigen self-test is a diagnostic tool designed for individuals to use on themselves to detect the presence of the SARS-CoV-2 virus, which causes COVID-19. For instance, in July 2021, Abbott Laboratories, a US-based company that manufactures lateral flow immunoassay (LFIA) based rapid tests launched Panbio covid-19 antigen self-test. The Abbott lateral flow technology-based self-test uses a minimally invasive nose swab and can produce results without the use of instruments in as little as 15 minutes. The test must be used in conjunction with Abbott's NAVICA mobile app, which enables a self-registration process that is quick and uncomplicated, automatic reading of findings, and straightforward reporting in accordance with ICMR requirements .

The lateral flow immunoassay (lfia) based rapid test market covered in this report is segmented -

1) By Technique: Competitive Assay, Sandwich Assay, Multiplex Detection Assay
2) By Application: Infectious Disease, Pregnancy And Fertility, Toxicology, Cardiac Marker And Cholesterol Testing, Other Applications
3) By End-Users: Hospitals And Clinics, Diagnostic Laboratories, Home Care, Other End Users

Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=3293&type=discount

Major companies operating in the lateral flow immunoassay (lfia) based rapid test market report are Abbott Laboratories, F. Hoffmann-La Roche, Quidel Corporation, Becton, Dickinson and Company, Danaher Corporation, Siemens AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., PerkinElmer Inc., Hologic, Inc., LTEK Co., Ltd., JOYSBIO Biotechnology, Jiangsu Medomics Medical Technologies, Diagnocure, Ubio Biotechnology Systems, Elabscience® Immunoassay Kits, FyoniBio / Glycotope GmbH, Atomo Diagnostics Limited, INDICAL Bioscience, Lionex Gmbh, BIOMED Labordiagnostik GmbH, Charles River Laboratories, EKF Diagnostics, Launch Diagnostics, Diagnostic Instruments Ltd, Qiagen N.V., Merck KGaA, XPhyto Therapeutics, 3a Diagnostics, Roche Holding AG, BATM, Biomaxima, SensDx, Vitrosens Biotechnology, Bioeasy Biotechnology, Fujirebio, Immunodiagnostic Systems Holdings PLC, Mesa Biotech Inc, CTK Biotech, Wamadiagnostica, Marksans Pharma Ltd, Lana Al Khaleej, Natejah Medical Supplies, Synlab, K2 Medical's, SA Biomedical Group

Contents of the report:
1. Executive Summary
2. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Report Structure
3. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Trends And Strategies
4. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market - Macro Economic Scenario
5. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Size And Growth
…..
27. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/lateral-flow-immunoassay-based-rapid-test-global-market-report

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.