Lateral Flow Assays Market in 10MM – Market Outlook, Unmet Needs, Market Assessment & Forecast (2023-2030)

Publication ⇒Nov-23 Delivery Time ⇒ 5-7 Business Days Report Code ⇒PBCHC322-10M-OT

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Lateral Flow Assays Market – Report Overview

Pacific Business Consulting’s “Lateral Flow Assays Market in 10MM – Market Outlook, Unmet Needs, Market Assessment & Forecast (2023-2030)” report offers a comprehensive understanding of Lateral Flow Assays market, encompassing historical and projected market size data, along with market trends, market drivers, market barriers and unmet medical needs in the Ten Major Markets (10MM) of the United States, Germany, Spain, Italy, France, the United Kingdom, Japan, China, Australia, and India.

In 2022, the Lateral Flow Assays market surpassed a valuation of US$ 5.2 Billion and is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) exceeding 5.0% from 2023 to 2030. The market is anticipated to potentially surpass US$ 8.0 Billion by 2030.

The lateral flow assay (LFA) stands out as a widely recognized commercial tool for on-site diagnosis, delivering accurate, rapid, and affordable results, akin to at-home pregnancy tests. Lateral flow assays detect target components in liquid samples without the need for costly or specialized equipment. The expected rise in infectious diseases prevalence is a key factor anticipated to propel the growth of the lateral flow assays market in the forecast period. For instance, WHO reported approximately 10 million global tuberculosis cases in 2020. Additionally, market growth is driven by new product approvals and increased revenue from the sales of COVID-19 rapid tests. As of January 2022, the U.S. FDA had approved at least 12 rapid antigen at-home tests for COVID-19 detection, with key players like Abbott Laboratories and Quidel Corporation leading the way.

Lateral flow assay technology has advanced over time, finding frequent use in companion diagnostic and point-of-care applications. Home-based lateral flow assay equipment is gaining popularity due to advantages such as portability, low production costs, quick results, and general usability. The adoption of lateral flow assays enhances the quality of treatment through cost savings, fewer doctor visits, and lower laboratory overhead expenses.

Lateral flow assays play a crucial role in infectious disease diagnosis, identifying diseases like influenza, STDs, and tuberculosis. These devices expedite test result interpretation, optimize timely treatment decisions, improve care efficacy, and significantly reduce diagnosis costs, particularly in resource-constrained settings with limited laboratory infrastructure. The global adoption of lateral flow devices is on the rise, supported by the trend of decentralized testing, especially in the control of major infectious diseases like malaria and influenza.

Rapid diagnostic tests are endorsed by WHO for use in remote diagnosis by healthcare professionals in malaria-endemic countries, diagnosis by professionals distant from microscopy services, and outbreak investigations and surveys of parasite prevalence. The numerous benefits offered by lateral flow devices are key factors driving their global adoption.

While awareness campaigns on infection transmission, diagnosis, and prevention contribute to market growth, challenges such as incorrect test results and delays in product approvals due to stringent regulatory rules may impede market expansion. Reimbursement concerns, the rising cost of healthcare, and shifts in reimbursement systems also pose hurdles to the growth of the lateral flow tests market in the projected term.

Leading players in the Lateral Flow Assays segment, such as Quidel Corporation, Hologic, Inc., PerkinElmer, Inc., Merck KGaA, BD, Siemens Healthineers, Danaher Corporation, QIAGEN N.V., Abbott Laboratories, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., and bioMérieux SA, are expected to play a pivotal role in shaping the future landscape of Lateral Flow Assays technologies through ongoing innovation.

Scope of Report

The report addresses critical subjects such as strategic competitor evaluation, market characterization, unmet needs, and the consequences of these elements for the Lateral Flow Assays market. It also delves into the analysis of present and prospective market competition within the global Lateral Flow Assays market.

Furthermore, the report offers an insightful examination of the primary industry drivers, constraints, and challenges. Each trend undergoes independent research to furnish qualitative analysis regarding its implications.

Reasons to Buy

  • Develop your business strategies by gaining insights into the trends that shape and drive the Lateral Flow Assays market across the 10MM (Ten Major Markets).
  • Increase revenue by comprehending key trends, innovative products and technologies, market segments, and companies poised to influence the future of the 10MM Lateral Flow Assays market.
  • Craft effective sales and marketing strategies by thoroughly understanding the competitive landscape and analyzing the performance of various competitors.
  • Identify emerging players with potentially robust product portfolios and devise strategic counter-strategies to gain a competitive advantage.
  • Optimize your sales and marketing efforts by pinpointing market categories and segments that offer the greatest opportunities for consolidations, investments, and strategic partnerships.
  1. Executive Summary: Lateral Flow Assays
    • Global Market Outlook: Lateral Flow Assays
  2. Competitive Intelligence Analysis: Lateral Flow Assays
  3. Therapeutic Sector SWOT
  4. Technology Roadmap Analysis: Lateral Flow Assays
  5. Market Background
    • Drivers
    • Restraints
    • Opportunity
    • Key Market Trends
    • Key Unmet Needs
  6. Key Marketed Products Profile – Major Approved Products: Lateral Flow Assays
    • Product Profile
    • Safety and Efficacy
  7. Regulatory Landscape
  8. Lateral Flow Assays: Ten Major Market (10MM) – Market Analysis, By Product Type
    • Clinical Testing
    • Veterinary Diagnostics
    • Food Safety & Environmental Testing
    • Drug Development & Quality Testing
  9. Lateral Flow Assays: Ten Major Market (10MM) – Market Analysis, By Technique
    • Sandwich Assays
    • Competitive Assays
    • Multiplex Detection Assays
  10. Lateral Flow Assays: Ten Major Market (10MM) – Market Analysis, By Test Type
    • Lateral Flow Immunoassay
    • Nucleic Acid Lateral Flow Assay
  11. Lateral Flow Assays: Ten Major Market (10MM) – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. S. Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. K. Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Germany Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. France Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Italy Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Spain Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Japan Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. China Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Australia Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. India Lateral Flow Assays – Market Analysis
    • Historical Market Analysis (US$ million), 2020-2022
      • By Product Type
      • By Technique
      • By Test Type
    • Current and Future Market Projections (US$ million), 2023-2030
      • By Product Type
      • By Technique
      • By Test Type
  1. Competitive Landscape
    • Company Overview
    • Product Portfolio
    • Key Financials
    • Sales Footprint

Note – All Major Company Profiles (Count up to 20) will be covered in the report

  1. Assumptions and Acronyms Used
  2. Research Methodology
    • Secondary Research
    • Primary Research
    • Data Triangulation
  3. Geographic Scope
    • The U.S., The U.K., Germany, France, Italy, Spain, Japan, China, Australia, and India
  4. Copyrights and Disclaimer

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