Global Lateral Flow Assay Market Outlook 2030
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Product Code:
RP-ID-10059270 -
Published Date:
21 Oct 2022 -
Region:
Global
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Pages:
141 -
Category:
Healthcare & Pharmaceuticals -
Publisher:
Pub-ID-12
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
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The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Market Overview:
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In 2021, the global lateral flow analysis market is estimated to be worth USD 6 billion and is expected to grow at a compound annual growth rate of ~7% during the forecast period 2022-2030. Lateral flow testing is a cellulose-based device used to detect the presence of target components in liquid samples without the need for expensive or specialized equipment. It is expected that the increase in the prevalence of infectious diseases will drive market growth during the forecast period. According to a report issued by the World Health Organization, there were an estimated 219 million cases of malaria in 87 countries in 2017. Data from the same source also shows that more than 435,000 people died of malaria in 2017. Therefore, it is expected that the increase in the incidence of infectious diseases will create a demand for lateral flow detection. It is expected that the governments additional measures to curb malaria will promote market growth. For example, on World Malaria Day 2019, WHO worked with GBR, the African Union Commission and other partner organizations to create and spread awareness of malaria diagnosis and prevention.
The increase in government investment is another factor that is expected to drive market growth. According to a report issued by the World Health Organization, the total funding for malaria elimination and control in 2017 is estimated to reach US$3.1 billion. The government funding of malaria-endemic countries amounts to US$900 million. It accounts for about 28% of the total financing.Therefore, it is expected that increased government investment in malaria control will drive the demand for lateral stream analysis during the forecast period. The increase in demand for instant testing is expected to drive market growth during the forecast period. Because point-of-care testing equipment is fast, simple, and portable, it can provide results faster, leading to better results for patients.
Therefore, the increased demand for testing equipment at the point of care has led to an increase in the introduction of new products with improved technology. For example, in February 2019, Abbott announced the launch of a highly sensitive rapid diagnostic test, the DeleteTM HBsAg 2 test, which is used to detect hepatitis B surface antigen and can be used in almost all medical environments. However, product recalls and the implementation of the US medical device excise tax are expected to limit market growth during the forecast period.
PRODUCT INFORMATION:
According to different products, the market is segmented into kits and reagents and lateral flow readers. Due to the increase in infectious diseases and the increasing use of lateral flow kits in home care settings, kits and reagents are expected to occupy the largest market share. New market players are collaborating with each other to improve the development of effective and sensitive lateral flow test equipment. For example, in January 2019, Anteo Diagnostics collaborated with Sona Nanotech Inc.To increase the speed of sidestream test development and improve the performance of sidestream tests. Therefore, increasing these strategic collaborations to increase the development of lateral flow kits is expected to drive the demand for lateral flow assays during the forecast period. Lateral flow readers ensure accurate interpretation of the results of research, routine sample testing, and other development applications. In March 2019, Alere (now Abbott) announced the launch of a rapid flu diagnostic test called BinaxNOW Influenza A & B Card 2.
This test is exempt from CLIA and can be used with Abbott’s DIGIVAL diagnostic reader. The diagnostic reader can interpret and read lateral flow tests in seconds, and provide objective, automated results in any healthcare environment. Therefore, the increasing use of sidestream readers to interpret accurate results is expected to drive market growth. Recently, lateral flow kits for several new applications have also been developed. For example, in May 2019, the FDA allowed Zimmer Biomet to sell Synovasure, a lateral flow test kit. This kit helps to detect infections in the joints around the prosthesis in the synovial fluid of patients who have undergone revision surgery evaluation.This operation is performed to make up for or replace failed implants. Prior to this, there was no FDA-approved lateral flow test kit for detecting synovial fluid infection. The marketing of the kit is expected to help online healthcare professionals conduct effective clinical assessments to determine whether a patient needs surgery. Therefore, it is expected that the approval of the widely used kit will drive the demand for sidestream testing during the forecast period.
APPLICATION INFORMATION:
According to different applications, the market is divided into clinical testing, veterinary diagnosis, food safety and environmental testing, and drug development and quality testing. Due to the increasing incidence of infectious diseases, clinical trials are expected to have the largest market share. According to estimates by the U.S. Department of Health and Human Services, approximately 36.9 million people were infected with HIV/AIDS in 2017, of which 1.8 million were people over 15 years of age. It is estimated that 1.8 million people have been infected recently. Infected with HIV in the same year.Therefore, it is expected that the increase in HIV prevalence will drive market growth during the forecast period. In October 2017, Atomo Diagnostics announced that its Atomo HIV Self Test had received the CE mark. It is a self-checking device that provides convenience, on-site diagnostic performance and ease of use. Therefore, it is expected that the increase in new product approvals will drive the demand for side-stream testing. It is expected that during the forecast period, the increase in HBV infection rate will also drive the market.
According to estimates by the World Health Organization, an estimated 257 million people were diagnosed with hepatitis B infection in 2018, and an estimated 71 million people were diagnosed with hepatitis C. In order to reduce the incidence of hepatitis, the World Health Organization has set some diagnostic targets for reference about 30% of hepatitis B virus. The number of people infected by 2020 will be about 90% by 2030. Therefore, it is expected that the increase in HBV infection rate will drive the demand for lateral flow testing during the prognosis period. It is expected that the increase in the prevalence of tuberculosis will drive market growth during the forecast period. According to the World Health Organization, an estimated 10 million people were diagnosed with tuberculosis in 2017, and about 1.6 million people died of tuberculosis.
It is estimated that approximately 230,000 children were diagnosed with tuberculosis in 2017. Cardiac markers are biomarkers used to assess the working condition of the heart. They are used for early diagnosis or prediction of diseases. The cardiac marker detection part is further subdivided into troponin I and T detection, CK-MB detection, BNP and NT-Probnp detection, myoglobin detection, D-dimer detection and other cardiac marker detection. Blood troponin level. These proteins are usually released after the myocardial injury is complete.
The greater the damage, the more troponin in the blood. Roche offers a cardiac Trop sensitive test that allows patients to perform diagnostic tests even after days of myocardial damage. The test kit is versatile, provides faster results, is portable, and is easy to operate. It also guarantees reliable qualitative measurement and is cost-effective. The number of allergic reactions to food substances is increasing rapidly, which has aroused peoples high attention to food safety.
Therefore, companies are taking strategic measures such as mergers and acquisitions to pay attention to food safety. For example, in September 2017, 3M acquired Elution Technologies to expand its focus on food safety. With the acquisition of Elution Technologies, 3M has expanded its product portfolio and added test kits to ensure that soybeans, peanuts, and dairy products are free of harmful allergens.
TECHNICAL INFORMATION:
The horizontal flow test can be carried out in the form of a test strip or as a custody box. According to different technologies, the market is divided into sandwich, competition and multiple screening analysis. Due to its reasonable price, accuracy and ease of use, the sandwich test section is expected to have the largest market share. In the sandwich test, a positive test is indicated by a colored line at the position of the test line.
The results provided by the sandwich test require no training and can be tested in any resource-poor healthcare environment. In a competitive test, a positive test is determined by the absence of a colored line at the location of the test line. Both competitive analysis and sandwich analysis can be developed to include multiple test lines. For example, nucleic acid lateral flow analysis is multiplexed because it contains multiple test lines. It is used to detect multiple targets using a single test instead of multiple tests.
END USE INFORMATION :
Based on end-use, the horizontal flow testing market is divided into home care, hospitals and clinics, pharmaceutical and biotechnology companies, and diagnostic laboratories. Due to the increasing use of rapid diagnostic tests in resource-poor environments, home care environments are expected to occupy the largest market share. Because these test kits can be used by healthcare professionals with minimal training and can be used in both underdeveloped and developed countries, they are widely used for infectious disease detection, food safety, and veterinary diagnosis.
Due to the increasing adoption of point-of-care testing, technological advancements, the introduction of innovative equipment and technologies, and the increasing propensity of patients for early diagnosis and rapid diagnosis, hospitals and clinics are expected to experience lucrative growth. The increase in the incidence of influenza has prompted more people to go to healthcare providers or doctors for influenza diagnosis. According to CDC data, in 2017, 22.7 million people in the United States went to see a doctor or healthcare provider for influenza diagnosis. Therefore, it is expected that the increasing use of sidestream devices in hospital environments will drive the demand for sidestream testing during the forecast period .
REGIONAL INFORMATION:
North America is expected to experience the highest increase due to an increase in the incidence of influenza. According to CDC data, in 2016, 15.5 million patients diagnosed with infectious diseases went to the hospital for primary treatment and disease management. It is also estimated that 9,272 new cases of tuberculosis and 36,429 new cases of Lyme disease were diagnosed in 2016.
Therefore, it is expected that the increase in the incidence of infectious diseases will drive the demand for lateral flow testing during the forecast period. Due to the spread of HIV/AIDS and other infectious diseases, it has shown a strong growth rate. According to data from the European Center for Disease Control and Prevention, approximately 2 million people in Europe were affected by HIV in 2018. In 2017, an estimated 160,000 people in Europe were diagnosed with HIV. Therefore, the increase in the incidence of HIV in the region is expected to drive market growth during the forecast period.
Due to the rising prevalence of infectious diseases in countries such as Japan, China and India, the Asia-Pacific region is expected to experience steady growth. It is expected that during the forecast period, the increase in HIV prevalence will drive market growth.
According to the National AIDS Control Organization, an estimated 2.14 million people in India were diagnosed with HIV in 2017. Approximately 88,000 new HIV cases were registered in 2017, of which women accounted for 40% of newly registered HIV cases. Ten Indian states (Bihar, Telangana, West Bengal, Andhra Pradesh, Uttar Pradesh, Gujarat, Karnataka, Maharashtra, Delhi and Tamil Nadu ) Accounted for 71% of the country’s total annual HIV infections. WHO, Africa accounted for the majority of the global malaria burden in 2017.
In addition, the region is estimated to have 92% of malaria cases and approximately 93% of malaria deaths. Therefore, it is expected that the increasing adoption of horizontal flow testing in the region will drive market growth. Due to the strengthening of publicity activities by governments, it is expected that the market share of Latin America will also increase. In July 2019, WHO, UNAIDS and UNICEF organized a two-day seminar to raise awareness of HIV in Latin America.
In August 2019, people from 9 countries in Latin America gathered in Mexico to participate in the 10th AIDS Science Conference of the International AIDS Association. The purpose of the conference was to develop a youth-friendly communication strategy to raise gay youth’s awareness of HIV. Therefore, it is expected that increased government initiatives to raise HIV awareness will drive market growth.
HORIZONTAL FLOW ANALYSIS MARKET SHARE OUTLOOK:
Some of the main players serving the market are Abbott Laboratories; Quidel; Hologic Inc.; Thermo Fisher Scientific; F. Hoffman-La Roche; Siemens AG; Dan Nach Company; Becton, Dickinson and Company; Bioradiation; BioMérieux; and PerkinElmer.
The increase in product approvals is expected to drive market growth during the forecast period. For example, in May 2017, Quidel announced that its Sofia Influenza A + B immunoassay had received 510(k) approval from the FDA and a CLIA exemption. The assay uses advanced lateral flow and immunofluorescence technology to provide clinical sensitivity for influenza infection.
MARKET SEGMENTS COVERED BY THE REPORT :
This report forecasts revenue growth at the global, regional and country levels, and analyzes the latest industry trends in each sub-segment from 2022-2030. For the purpose of this research, Kenneth Research has segmented the global horizontal flow analysis market report based on product, application, technology, end use, and region: product outlook (revenue, million dollars, 2022-2030) kit and reagent side Streaming Reader Digital/Mobile Reader Desktop Reader Application View (Revenue, Million USD, 2022-2030).
Clinical testing for infectious diseases testing for mosquito-borne diseases testing for influenza testing for sexually transmitted infection testing for HIV testing for HPV testing for gonorrhea and syphilis testing for other hepatitis and tuberculosis Cholesterol testing / blood lipid testing ico Drug abuse testing Other veterinary diagnostics Food safety and environmental testing Drug development and quality testing technology perspective (revenue, millions of dollars, 2022-2030) Sandwich test, competitive test, multiple screening test, end-use perspective (revenue, 100 Million US dollars, 2022-2030) Hospitals and clinics, diagnostic laboratories, home care pharmaceuticals and biotech companies, others.
Geography Analysis:
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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