Advancements in Sample Detection Techniques Boosting Lateral Flow Assay Market Revenue
Technological advancements are resulting in functional improvements in lateral flow assays in terms of sensitivity, selectivity, and progress in quantification. The test readers developed by manufacturers are widely used to measure the intensity of the test line of a sample. Growing miniaturization and portability has enhanced the adoption of handheld lateral flow assay readers. Technological advancements for utilizing unique wavelengths for sample illumination, along with various sample detection techniques, which include either CMOS or CCD detection technology, is driving innovations in lateral flow assay testing devices. Moreover, the introduction of test-specific advance image processing algorithms have improved the quantification of sample analytes. The lateral flow assay market is expected to increase as these kits can be used without much training and expertise.
Alternative non-optical technologies, such as Magnetic Immunoassay (MIA) and the usage of the capillary pumping of the sample fluid to reduce variations in sample volume are gaining traction in the market.
Self-Diagnosis and Awareness are Driving Demand for Lateral Flow Assays
Home diagnosis has become a trend as self-test kits are easily available in pharmacies, hospitals and as well as online channels. Home test kits are available for several conditions and indications, which include high cholesterol levels, diabetes, blood sugar levels, pregnancy tests and infections such as HIV. Most of the home-based lateral flow assay kits are quick & easy to use and generally require a urine sample or a finger-prick. The manufacturers of lateral flow assays are increasing their proficiency by developing and designing qualitative, quantitative, and visual- and reader-based products.
The popularity of home-based lateral flow assay test kits has grown significantly in emerging countries, such as India, China, and South Africa, where the prevalence of infectious diseases, such as diabetes, tuberculosis, and HIV, is increasing.
Dominant Penetration of Leading Competitors: Competitive Landscape
The competition section of the report features the profiles of key players operating in the lateral flow assay market based on their market shares, product offerings, differential strategies, company dashboard, and marketing approach. Some of the key players featured in the Lateral Flow Assay market report are QIAGEN N.V., F. Hoffman – La Roche Ltd., Becton, Dickinson and Company, Abbott, bioMerieux S.A, Bio-Rad Laboratories Inc., Hologic Inc., Danaher Corporation (HemoCue AB), Thermo Fisher Scientific Inc., and Siemens Healthcare GmbH, among others. The key manufacturers of lateral flow assay focusing on new marketing strategies to expand their product penetration and geographical footprint in the global lateral flow assay market.
Lateral flow assays are immuno-chromatographic tests that help detect the presence and absence of target analytes such as pathogens in samples. They do not require hi-tech and expensive equipment, however, various lab-based applications are available, which are supported by the reading equipment.
Lateral flow assays are generally used for diagnostics for home testing, laboratory use and point-of-care testing. The most widely applied and well-known applications of lateral flow assays are home pregnancy tests.
The report consists of lateral flow assay kits for the diagnosis of pathogens in humans. However, lateral flow assay kits are also used for detecting infections in animals and contamination in water supply, animal feeds & other sources. Lateral flow assays are available in two types: readers and lateral flow assay kits. The readers quantify the results, whereas the kits provide a qualitative analysis that indicates the presence or absence of disease. Lateral flow assay readers are of two types: bench top and handheld. These devices are low-cost, compact, low-power and battery-operated devices that require only few accessories, but offer great flexibility to patients as well as the lab technicians. Lateral flow assay kits consist of a dipstick, lancets, a cassette, and test strips for the detection of pathogens. The sample is placed on a test device and the results are visualized by a change in color owing to conjugate formation.
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About the Report
The company has conducted a research study on the lateral flow assay market for the forecast period 2018 to 2026. The lateral flow assay market report offers a comprehensive evaluation of the business opportunities present in the lateral flow assay market, along with insights on the lateral flow assay market pricing impact analysis, consumer adoption process, volume of the kits, parent market analysis, regulatory scenario, iceberg analysis, epidemiology for the diseases, and the competition blueprint of the lateral flow assay market. The report also explains the macroeconomic factors that are affecting the dynamics of the lateral flow assay market and its futuristic potential.
The lateral flow assay report offers a comprehensive taxonomy of the lateral flow assay market based on product type, indication, end user, and region. Lateral flow assays are used for various indications, such as urine analysis, mosquito borne diseases, sexually transmitted diseases, Streptococcus infections, tuberculosis, respiratory infections, and others. The distribution channel of the lateral flow assay market includes hospital pharmacies, retail pharmacies, supermarket/hypermarkets and e-commerce. Based on product type, the global lateral flow assay market is segmented into readers and lateral flow kits. The lateral flow assay market has been analyzed across the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
Additional Questions Answered
Some of the additional questions addressed in this report on the lateral flow assay market are:
- What is the revenue potential of the lateral flow assay market across the regions of North America and Europe?
- Who are the key competitors in the lateral flow assay market and what are their portfolios in the lateral flow assay market?
- What are major challenges influencing the growth of the lateral flow assay market?