PUNE, India, March 11, 2016 /PRNewswire/ --
According to a new market research report "Lateral Flow Assay Market by Product (Reader, Kits) Application (Clinical Testing (Pregnancy, Infectious Disease, Cholestrol, Cardiac Marker), Veterinary, Drug Development) Technique (Sandwich, Competitive, Multiplex) End User - Global Forecast to 2020", published by MarketsandMarkets, the global market Is Expected to reach USD 6.78 Billion by 2020. The market was valued at USD 4.56 Billion in 2015 and is expected to grow at a CAGR of 8.3% from 2015 to 2020.
Browse 174 Tables and 48 Figures spread through 211 Pages and in-depth TOC on "Lateral Flow Assay Market"
Early buyers will receive 10% customization on this report.
The Lateral Flow Assay Market recorded a healthy growth rate during the last decade, owing to technological advancements and increasing application areas of lateral flow assay techniques in medical diagnostics and drug development & quality testing. Lateral flow assays are used extensively in several applications, including pregnancy & fertility testing, infectious disease testing, cardiac marker testing, and drugs-of-abuse testing. The widening applications of lateral flow assay products for therapeutic and diagnostic purposes are expected to have a positive impact on the growth of this market in the coming years. Moreover, the uptake of lateral flow assay techniques is expected to increase due to the growing demand for home-based lateral flow assay tests. This trend is expected to support the growth of the market in the coming years. However, complex regulatory requirements and reluctance among physicians and patients towards changing existing diagnostic practices are expected to restrain the growth of this market to a certain extent.
In this report, the global Lateral Flow Assay Market is segmented based on techniques, products, applications, end users, geographic regions, and countries. Moreover, this report focuses on key market drivers, restraints, opportunities, trends, and challenges present in this market and its submarkets.
Talk To Our Research Analyst for More Information @
In 2014, North America accounted for the largest share of the global Lateral Flow Assay Market, followed by Europe and Asia-Pacific. Greater uptake of lateral flow assay products and the presence of a large number of lateral flow assay product manufacturers in North America and Europe are the major factors responsible for the large shares of these regions in the market. However, the Asia-Pacific region is expected to offer significant growth opportunities for players operating in the Lateral Flow Assay Market in the coming years. The high growth in this regional segment is primarily driven by the growing healthcare awareness, growth in geriatric population, rising per capita income, increasing investments in the APAC healthcare industry by key market players, rising demand for cutting-edge technologies, and low labor costs.
The prominent players in the Lateral Flow Assay Market include Alere, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Becton, Dickinson and Company (U.S.), Abbott Laboratories, Inc. (U.S.), Johnson & Johnson (U.S.), Danaher Corporation (U.S.), bioMérieux SA (France), Bio-Rad Laboratories (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and QIAGEN N.V. (Netherlands).
Browse Related Reports:
In Vitro Diagnostics (IVD) Market by Product (instruments, Reagents, Software, Service) Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Hematology) by Application (Diabetes, Cancer, Cardiology, Autoimmune Diseases) - Forecast to 2020.
Point-Of-Care Diagnostics / Testing Market by Products (Glucose Monitoring & Infectious Diseases Testing Kits, Cardiac & Tumor Markers), by End Users (Self & Professional Monitoring), Over the Counter & Prescription Based - Global Forecast to 2018.
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Unit No. 802, 8th Floor,
Tower - 7, Magarpatta City SEZ,
Hadapsar, Pune - 411013,
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/healthcare/medical-devices
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets