PORTLAND, Oregon, Dec. 11, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Lateral Flow Immunoassay (LFIA) Based Rapid Test Market by Application Type (Infectious Disease, Pregnancy & Fertility, Toxicology and Others), Technique type (Competitive Assay, Sandwich Assay and Multiplex Detection Assay), and End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." As per the report, the global lateral flow immunoassay based rapid test industry was estimated at $4.72 billion in 2018 and is expected to reach $8.49 billion by 2026, growing at a CAGR of 7.6% from 2019 to 2026.
Drivers, restraints, and opportunities-
Benefits of LFIA based rapid tests over laboratory testing, rise in initiatives of government and nonprofit organizations toward health awareness, and increase in healthcare expenditure across the world propel the growth of the global lateral flow immunoassay based rapid test market. On the other hand, inadequate reimbursement policies for LFIA based rapid test diagnostics curb the growth to some extent. However, growth prospects in the emerging markets, and surge in prevalence of various chronic and infectious diseases worldwide are expected to create a number of opportunities for the key players in the industry.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6228
The infectious disease segment to retain its dominance till 2026-
Based on application, the infectious disease segment contributed to more than four-fifths of the global lateral flow immunoassay based rapid test market share in 2018, and is expected to rule the roost throughout the study period. Increase in initiatives by the Centers for Disease Control and Prevention (CDC), Department of Health and Human Services, Food and Drug Administration, and National Institutes of Health (NIH) for the diagnosis of infectious diseases contributes toward the market growth. The same segment would also cite the fastest CAGR of 7.8% by the end of 2026.
The competitive assay segment to lead the trail during the forecast period-
Based on technique type, the competitive assay segment held the major share in 2018, generating nearly three-fifths of the global lateral flow immunoassay based rapid test market. Competitive immunoassays are widely used in the market, as these require only a small amount of antibody, higher flexibility, and sensitivity. The multiplex detection assay segment, on the other hand, would grow at the fastest CAGR of 9.0% during the estimated period. This is because it saves both time & precious sample by combining the detection of multiple analytes into a single reaction that reduces workflow and sample volume problems.
North America to maintain the lion's share by 2026-
Based on geography, North America accounted for more than two-fifths of the global lateral flow immunoassay based rapid test market revenue in 2018, and is predicted to dominate till 2026. Rise in prevalence of various diseases such as influenza, HIV, and cancer; increase in number of drug screening procedures; and presence of leading players in the market fuel the market growth in the province. At the same time, the region across Asia-Pacific would register the fastest CAGR of 9.2% during 2019–2026. This is attributed to high population base, increase in disposable income, and rise in awareness about LFIA based rapid tests in the region.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6228
Key market players-
- F. Hoffmann-La Roche AG (Roche Diagnostics)
- Dickinson and Company
- Thermo Fisher Scientific
- Qiagen N.V.
- Bio-rad Laboratories, Inc.
- Abbott Laboratories (Alere Inc.)
- Danaher Corporation (Cepheid, Inc.)
- Hologic, Inc.
- Quidel Corporation
- Biomerieux SA
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Get Up to 30% Discount on All Published Reports:
Pre-Book Now with 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Follow Us on Twitter: https://twitter.com/marketresearcht
SOURCE Allied Market Research