The North America Lateral Flow Assays Market would witness market growth of 2.5% CAGR during the forecast period (2021-2027).
In the last two decades, lateral flow tests have progressed significantly and are now commonly utilized in point-of-care and diagnostic applications whereas lateral flow tests are commonly utilized for infectious detection of diseases, heart disease diagnosis, and veterinary fields. Their application in various new applications has expanded in recent years. Saliva diagnostics, behavioral health, agriculture (identification of genetically modified organisms and crop quality checks), bio warfare (anthrax identification), environmental testing (identification of infecting enzymes in manufacturing facilities), and food microbiology are just a few examples of new application fields for lateral flow assays.
There is an increase in the frequency of different infectious illnesses like Lyme disease, TB, and an increasing mortality rate related with HIV/AIDS in the region. The COVID-19 pandemic affected the region severely and drove the government to implement mass screening programmes, which boosted growth of the market. Abbott Laboratories increased its manufacturing of coronavirus test kits in 2020, including a new instrument that might enable bulk Covid-19 screening. As a result, the business has announced the development of the fourth coronavirus diagnostic method: a lateral flow blood test that might enable mass testing to the general public.
The US market dominated the North America Lateral Flow Assays Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.7 billion by 2027. The Canada market is estimated to witness a CAGR of 4.8% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 3.9% during (2021 - 2027).
Based on type, the market is segmented into Kits & Reagents and Lateral Flow Readers. Based on Technique, the market is segmented into Sandwich Assays, Competitive Assays, and Multiplex Detection Assays. Based on Sample Type, the market is segmented into Blood Samples, Urine Samples, Saliva Samples , and Other Samples. Based on Application, the market is segmented into Clinical Testing, Drug Development & Quality Testing, Veterinary Diagnostics, and Food Safety & Environmental Testing. Based on End User, the market is segmented into Hospitals & Clinics, Diagnostics Laboratories, Pharmaceuticals & Biotechnology Companies, Home Care Settings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Lateral Flow Assays Market is Estimated to reach $13.4 Billion by 2027, at a CAGR of 2.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Becton, Dickinson and Company, Hologic, Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Quidel Corporation, Siemens AG, PerkinElmer, Inc., and F. Hoffmann-La Roche Ltd.
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