Transparency Market Research in its new report titled, “Lateral Flow Assay Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026,” provides key insights on the lateral flow assay market. The new report anticipates that the high prevalence of infectious diseases, rise in geriatric population, increase in demand for home-based lateral flow assay test kits, surge in demand for point-of-care testing, and rise in disposable income in developing countries will propel the growth of the lateral flow assay market during the forecast period i.e, 2018-2026. Other factors impacting the growth of the market include technological advancements and growing product acceptance, as per the report.
The report has segregated the global lateral flow assay market in terms of product type, technique, application, end-user, and region. Based on product type, the report has split the market into kits & reagents, lateral flow readers, benchtop readers, and mobile readers. In accordance with technique, the report has divided the global lateral flow assay market into sandwich assays, competitive assays, and multiplexed lateral flow assays. In terms of application, the report has bifurcated the market into pregnancy & fertility testing, infectious diseases testing, drugs of abuse testing, clinical testing, and others. In accordance with end-user, the report has classified the global lateral flow assay market into hospitals and clinics, home settings, diagnostic centers and others
In terms of regional perspective, the report has segmented the global lateral flow assay market into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Out of these, North America dominates the global lateral flow assay market owing to the rise in demand for home health care, increase in prevalence of multiple chronic conditions, early adoption of test procedures, and presence of large number of key players. Factors such as rise in prevalence of infectious diseases and increase in consumption of drugs and alcohol make Europe the second-largest market for lateral flow assays, as per the report. Also, the market in Asia Pacific is expected to expand at a high growth rate during the forecast period due to large population base, rise in disposable income, increase in government initiatives to provide better health care facilities, significant patient pool, and high awareness among people. Rise in prevalence of viral diseases is another driver of the lateral flow assay market in Asia Pacific.
Prominent players operating in the global lateral flow assay market are included in this report to give a better competitive analysis and these are Alere, Inc., Danaher Corporation, Hoffmann-La Roche AG, Siemens AG, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Merck KGaA, Trinity Biotech plc, Cytodiagnostics, Inc., Thermo Fisher Scientific, Inc., QIAGEN N.V., and PerkinElmer, Inc.
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