According to a new report Global Lateral Flow Assays Market, published by KBV research, The Global Lateral Flow Assays Market size is expected to reach $13.4 billion by 2027, rising at a market growth of 2.8% CAGR during the forecast period.
The Kits & Reagents market acquired the largest share in the Global Lateral Flow Assays Market by Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9.9 billion by 2027. The expanding usage of lateral flow kits and reagents for POC diagnostics, the growing utilization lateral flow kits in home healthcare, and their comfort and ease of use all contribute to the growth of the segment.
The Competitive Assays market is expected to witness a CAGR of 3.5% during (2021 - 2027). The growing usage of competitive assays by the various market players across healthcare institutions to primarily used for testing small molecules that differs from any other double antibody sandwich format.
The Blood Samples market dominated the Global Lateral Flow Assays Market by Sample Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7.1 billion by 2027. The utilization of blood samples in lateral flow tests for infectious diseases including malaria, HIV, and syphilis, as well as increased knowledge of rapid testing solutions and the simplicity of detecting disease antibodies from blood samples, are all driving the growth of the segment.
The Clinical Testing market has high growth rate in the Global Lateral Flow Assays Market by Application 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 2.3 % during the forecast period. The increased frequency of chronic illnesses, increasing need to cut healthcare costs, and expanding demand for patient-centered treatment would accelerate the growth of the lateral flow assays market.
The Hospitals & Clinics market dominated the Global Lateral Flow Assays Market by End User 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.9 billion by 2027. Technological improvements, increased acceptance of point-of-care testing, and a growing patient preference for quick and accurate diagnosis are fuelling the growth of the hospitals and clinics category.
The North America market dominated the Global Lateral Flow Assays Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5.1 billion by 2027. The Asia Pacific market is expected to witness a CAGR of 3.6% during (2021 - 2027). Additionally, The Europe market is expected to witness a CAGR of 2.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/lateral-flow-assays-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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By Technique
By Sample Type
By Application
By End User
By Geography
Companies Profiled
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