(Companies Covered: Abbott Laboratories, F. Hoffmann-La Roche, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, bioMérieux, Bio-Rad Laboratories, Thermo Fisher Scientific, QIAGEN NV, Hologic Inc., PerkinElmer, Inc., Quidel Corporation)
The global lateral flow immunoassay based rapid test market is expected to decline from $5.98 billion in 2019 to $5.77 billion in 2020 at a compound annual growth rate of -3.63%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $7.54 billion in 2023 at a compound annual growth rate of 9.36%.
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The lateral flow immunoassay (LFIA) based rapid test market consists of sales of devices and equipment used to run lateral flow immunoassays (LFIA) based rapid test and related services by companies that develop lateral flow immunoassays (LFIA) based rapid test equipment. These are testing devices used to assess the existence of a target, such as pathogens or biomarkers, in samples obtained from the human body or animals, or pollutants in water sources, food or animal feed.
Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Segmentation –
1) By Technique: Competitive Assay, Sandwich Assay, Multiplex Detection Assay.
2) By End User: Hospital and Clinic, Diagnostic Laboratory, Home Care, Others.
3) By Application : Infectious Disease, Pregnancy and Fertility, Toxicology, Others.
Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Driver –
The demand for point-of-care testing under home care settings is expected to drive the Lateral Flow Immunoassay (LFIA) Based Rapid Test market. Point-of-care (POCT) testing is essential for rapid on-site diagnosis and treatment. The most important features for current POCT diagnostic systems are a quick analysis time with a test-to-answer format. Lateral flow immunoassays (LFIA) are widely used as POCTs due to their speed and precision, simplicity and low cost.
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Few Points From The Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market TOC
1. Executive Summary
2. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Characteristics
3. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Size And Growth
3.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
4. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Segmentation
4.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Technique, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Regional And Country Analysis
5.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
6.1. Asia-Pacific Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
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