Dublin, July 08, 2021 (GLOBE NEWSWIRE) -- The "Lateral Flow Assays - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Lateral Flow Assays Market to Reach US$11.6 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Lateral Flow Assays estimated at US$7.8 Billion in the year 2020, is projected to reach a revised size of US$11.6 Billion by 2027, growing at a CAGR of 5.9% over the period 2020-2027.
Kits & Reagents, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$9.6 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lateral Flow Readers segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 17.9% share of the global Lateral Flow Assays market.
The U.S. Accounts for Over 38.6% of Global Market Size in 2020, While China is Forecast to Grow at a 8.8% CAGR for the Period of 2020-2027
The Lateral Flow Assays market in the U.S. is estimated at US$3 Billion in the year 2020. The country currently accounts for a 38.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$917 Million in the year 2027 trailing a CAGR of 8.8% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$917 Million by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Challenges and Opportunities for Clinical Diagnostics amid the Pandemic
Impact of COVID-19 on Lateral Flow Assays Market
Performance Analysis of COVID-19 Tests
Lateral Flow Assay-based Tests Soar into Spotlight during COVID-19 Pandemic
LFAS Arms Nations to Battle the Coronavirus
GLOBAL MARKET OVERVIEW
A Prelude to Lateral Flow Technology
Lateral Flow Assays: An Introduction
Lateral Flow Assays: A Mighty, Paper-based Diagnostics Approach
Lateral Flow Assays Market Poised to Experience Uninterrupted Flow Ahead
Clinical Testing Remains Primary Application Segment of Lateral Flow Assays Market
Rising Incidence of Infectious Conditions Ignite Demand
LFA Overcomes Testing Barriers
The US Retains Leadership Tag in Global Lateral Flow Assays Market
Fast Paced Growth Projected in Developing Regions
RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS(Total 55 Featured)
Abbott Laboratories, Inc.
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
F. Hoffmann-La Roche AG
Johnson & Johnson
Thermo Fisher Scientific, Inc.
3. MARKET TRENDS & DRIVERS
Growing Incidence of Infectious Diseases to Drive LFA Market
Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth
Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease
Home HIV Testing Emerges as a Lucrative Option
Viral Hepatitis Testing Presents Opportunities for Lateral Flow Assays Market
Uptrend in Healthcare Spending Creates Fertile Environment
Ageing Demographics to Drive Demand
Self-Diagnosis Emerges as a Notable Trend
New Approvals of Self-Test Devices to Give a Boost to the Market
Lateral Flow Assays Hold Rosy Outlook with Emerging Applications Areas
LFAs Gains Foothold in Multiplexing
Multiplexed Point-Of-Care Testing
Remote Healthcare Benefits Lateral Flow Assays Market
Lateral Flow Assays to Become Landmark Approach in Precision Diagnostics
Lateral Flow Assays & Precision Diagnostics
Digitalization of Lateral Flows to Support Healthcare
Digitalized Lateral Flow Assays: An Exciting Platform to Change Data-Driven Healthcare Domain
Lateral Flow Assays Emerge as Integral Components of Food Safety & Environmental Testing
Novel Lateral Flow Assay Marks Shift from Reactive to Proactive Food Safety Testing Approach
Technological Advancements Remain Crucial to Future Growth
Researchers Develop Novel Technique to Significantly Increase Accuracy of Lateral Flow Tests
Smartphone-based Fully-Quantitative Lateral Flow Assay Analyzer for Reliable & Quick Diagnosis
Innovative Lateral Flow Immunoassays Find Increasing Role in Detection of Dengue & Zika Virus
Abingdon Health Introduced ADxLR5 Developer for Assay Development
Rapid Tests Connectivity with Wireless Data Platforms
Miniaturization of Analytical Instruments Presents Lucrative Opportunities for Handheld Lateral Flow Assay Readers
Low Accuracy Remains a Major Restraint
Limited Reimbursement & Raw Material Supply Issues as Key Challenges
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
Total Companies Profiled: 55
For more information about this report visit https://www.researchandmarkets.com/r/5ldi7u
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900