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At 8+% CAGR Lateral Flow Assay Market Potentially Worth $8.24 Billion by 2022 Led by Asia-Pacific Region
The global lateral flow assay market is forecast to reach $8.24 billion by 2022 from $5.55 billion in 2017 at a CAGR of 8.2% during (2017-2022) driven by the high prevalence of infectious diseases wor...
(August 17, 2017)

PUNE, India, Aug. 17, 2017 /PRNewswire-iReach/ -- On the basis of product, the lateral flow assay market is segmented into kits & reagents and lateral flow readers. The lateral flow readers segment is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the growing awareness about digital/mobile readers, technological advancements, and higher accuracy offered by these readers.  Browse 218 Market Data Tables and 44 Figures spread through 283 Pages and in-depth TOC on "Lateral Flow Assay Market - Global Forecast to 2022" .

Based on application, the lateral flow assay market is segmented into clinical/point-of-care testing, veterinary diagnostics, food safety and environmental testing, and drug development & quality control testing. The food safety and environmental testing are expected to grow at the highest CAGR during 2017 to 2022. The high growth of this segment is driven by the shifting of the food & beverage industry from lab-based conventional microbiology techniques to rapid lateral flow assay tests.

The global lateral flow assay market projected to grow at a CAGR of 8.2%. The reluctance towards changing existing diagnostic practices, the implementation of excise duty on medical devices, and stringent & time-consuming regulatory policies are restricting market growth to a certain extent.

North America held the largest share of the global lateral flow assay market in 2016. On the other hand, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rapidly developing healthcare industry in China and India, growth in aging population, rising life expectancy, rising per capita income, increasing investments in the region by key market players, the expansion of private-sector hospitals & clinics to rural areas, the availability of low-cost labor for manufacturing, presence of a favorable regulatory environment, and growing demand for home and POC testing.

The major market players in the lateral flow assay market are Alere, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Johnson & Johnson (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherlands), and PerkinElmer, Inc. (U.S.).  Download PDF Brochure "Lateral Flow Assay Market by Product (Reader, Kit), Application (Clinical (Pregnancy, Infectious Disease, Lipid, Cardiac Marker), Veterinary, Drug Development, Food Safety), Technique (Competitive, Multiplex, Sandwich), End User - Global Forecast to 2022" research report at .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (41%), Tier 2 (29%) and Tier 3 (30%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (34%), Director Level (38%) and others (28%) from various key organizations operating in the global lateral flow assay market. The primary interviews were conducted worldwide covering regions such as North America (31%), Europe (33%), Asia-Pacific (19%), Latin America (10%) and Middle East & Africa (7%).

Research Coverage: The report analyzes the various types of kits & reagents and their adoption pattern. It aims at estimating the market size and future growth potential of the global lateral flow assay market for different segments such as product, application, technique, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.

Another research titled Protein Assays Market Global Forecasts to 2022 says, the protein assays market is expected to reach $1.42 billion by 2017 and is projected to grow at a CAGR of 11.1% between 2017 and 2022, to reach $2.41 billion in 2022. The dye-binding assays segment is expected to grow at the highest CAGR during the forecast period. Companies such as Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Merck KGaA (Germany), Cell Signaling Technology, Inc. (U.S.), Abcam plc (U.S.), General Electric Company (U.S.), PerkinElmer Inc. (U.S.) have been profiled in this 126 pages research report available at .

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