The Lateral Flow Immunoassay (LFIA) Based Rapid Test by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s comprehensive analysis of the Lateral Flow Immunoassay (LFIA) Based Rapid Test sector, there has been a significant contraction in market size in recent years. The market, which stood at $9.19 billion in 2024, is anticipated to experience a pronounced decline, plummeting to $8.33 billion in the same year, registering a noteworthy compound annual growth rate (CAGR) of -9.4%. This downturn in the historical period can be ascribed to various factors, including limited sensitivity and specificity, complexities associated with multiplexing, cross-reactivity concerns, challenges related to storage and shelf-life, and restricted quantitative capability.
Projections for the near future suggest a marginal downturn, with the LFIA-based rapid test market anticipated to contract to $7.79 billion by 2028, reflecting a CAGR of -1.6%. This decline in the forecast period is attributed to global supply chain disruptions, regulatory hurdles, heightened competition, the advent of alternative technologies, and the integration of these tests with digital health platforms. Notable trends in the forecast period include the development of advanced technologies for multiple or repetitive LFIA-based rapid tests, enhanced storage and communication of results, a strategic focus on partnerships and collaborations, the creation of at-home test kits, investments in artificial intelligence-based tests for disease screening and detection, and the imperative to develop cost-effective test kits for broader patient accessibility.
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. For instance, the recent outbreak of coronavirus disease (COVID-19) has increased the significance of these devices to rapid screening and surveillance. Acro Biotech COVID-19 Rapid POC CE-IVD is a lateral flow immunoassay that quantifiably assesses the existence of patient-generated IgG and IgM antibodies to SARS-CoV-2, the causative agent of novel coronaviral disease COVID-19. These antibodies may be detected in whole blood, serum, or plasma samples in the test cassette. OZO has developed three different variations of its products using the Latex Enhanced Lateral Flow Immunoassays (LFIAs) method for testing COVID-19. Therefore, the need for point-of-care testing under home care settings is expected to drive the lateral flow immunoassay (LFIA) based rapid test market.
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The lateral flow immunoassay (lfia) based rapid test market covered in this report is segmented –
1) By Technique: Competitive Assay, Sandwich Assay, Multiplex Detection Assay
2) By Application: Infectious Disease, Pregnancy And Fertility, Toxicology, Cardiac Marker And Cholesterol Testing, Other Applications
3) By End-Users: Hospitals And Clinics, Diagnostic Laboratories, Home Care, Other End Users
Prominent industry players operating in the LFIA-based rapid test market are strategically emphasizing innovative products such as the Panbio COVID-19 antigen self-test to bolster their market revenues. The Panbio COVID-19 antigen self-test, a diagnostic tool engineered for individual use, enables the detection of the SARS-CoV-2 virus responsible for COVID-19. An illustrative case is Abbott Laboratories, a US-based company specializing in LFIA-based rapid tests, which unveiled the Panbio COVID-19 antigen self-test in July 2021. Leveraging Abbott's lateral flow technology, this self-test employs a minimally invasive nose swab and delivers results within a mere 15 minutes without the need for additional instruments. Notably, the test is complemented by Abbott's NAVICA mobile app, streamlining the self-registration process, facilitating automatic result readings, and ensuring straightforward reporting in compliance with ICMR requirements.
The lateral flow immunoassay (lfia) based rapid test market report table of contents includes:
1. Executive Summary
2. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Characteristics
3. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Trends And Strategies
4. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market - Macro Economic Scenario
5. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Size and Growth
......
32. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Competitive Benchmarking
33. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
35. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Future Outlook and Potential Analysis
36. Appendix
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The Business Research Company published its Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Lateral Flow Immunoassay (LFIA) Based Rapid Test market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the lateral flow immunoassay (LFIA) based rapid test market’s segments-1) By Technique: Competitive Assay, Sandwich Assay, Multiplex Detection Assay2) By End User: Hospital and Clinic, Diagnostic Laboratory, Home Care, Others3) By Application: Infectious Disease, Pregnancy and Fertility, Toxicology, Others.View Complete Report:https://www.thebusinessresearchcompany.com/report/lateral-flow-immunoassay-lfia-based-rapid-test-global-market-report-2020-30-covid-19-growth-and-changeLateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.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 (CAGR) 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.
Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports The Lateral Flow Immunoassay Based Rapid Test Global Market Report 2020-30 by The Business Research Company describes and explains the global lateral flow immunoassay based rapid test market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The Lateral Flow Immunoassay Based Rapid TestGlobal Market Report 2021 covers lateral flow immunoassay based rapid test market drivers, lateral flow immunoassay based rapid test market trends, lateral flow immunoassay based rapid test market segments, lateral flow immunoassay based rapid test market growth rate, lateral flow immunoassay based rapid test market major players, and lateral flow immunoassay based rapid test market size.
View Complete Report:https://www.thebusinessresearchcompany.com/report/lateral-flow-immunoassay-lfia-based-rapid-test-global-market-report-2020-30-covid-19-growth-and-change The lateral flow immunoassay based rapid test market report provides an in-depth analysis of the impact of COVID-19 on the global lateral flow immunoassay based rapid test industry, along with revised market numbers due to the effects of the coronavirus and the expected lateral flow immunoassay based rapid test market growth numbers 2021-2030.
Lateral Flow Immunoassay Based Rapid TestGlobal Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=3293=smp The global lateral flow immunoassay based rapid test market is expected to grow from $5.768 billion in 2020 to $6.136 billion in 2021 at a compound annual growth rate (CAGR) of 6.4%.
Lateral Flow Immunoassay Reader Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
Further, this report also highlights the regional and country-level market analysis.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the lateral flow immunoassay reader market include Abbott, Abingdon, QIAGEN, BD Company, Axxin, LRE Medical, Detekt Biomedical, Chembio Diagnostics, Quidel Corporation, Trinity Biotech, Magnasense.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Lateral Flow Immunoassay Reader Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/lateral-flow-immunoassay-reader-market/download-sampleMarket DynamicsThe high demand for rapid test readers that are simple to use, economical, and highly effective in obtaining non-subjective diagnostic test results at hospitals, laboratories, clinics, and other point-of-care locations is the primary stimulant for the growth of this market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
The Business Research Company’s latest report Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2020 covers Lateral Flow Immunoassay (LFIA) Based Rapid Test market drivers, Lateral Flow Immunoassay (LFIA) Based Rapid Test market trends, Lateral Flow Immunoassay (LFIA) Based Rapid Test market segments, Lateral Flow Immunoassay (LFIA) Based Rapid Test market growth rate, Lateral Flow Immunoassay (LFIA) Based Rapid Test market major players, and Lateral Flow Immunoassay (LFIA) Based Rapid Test market size.
The report provides in-depth analysis of the impact of COVID-19 on the Lateral Flow Immunoassay (LFIA) Based Rapid Test industry, along with revised market numbers due to the effects of the coronavirus.View Complete Report:https://www.thebusinessresearchcompany.com/report/lateral-flow-immunoassay-lfia-based-rapid-test-global-market-report-2020-30-covid-19-growth-and-change Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request for the sample now:https://www.thebusinessresearchcompany.com/sample.aspx?id=3293=smp 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 (CAGR) 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.
