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DUBLIN, Feb. 25, 2021 /PRNewswire/ -- The "Lateral Flow Assays Market by Application (Clinical Testing (Pregnancy, Infectious Diseases (Mosquito, Influenza, STI, Hepatitis, TB) Cardiac Marker Lipid Test) Veterinary, Food Safety), Product, Technique, End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The global lateral flow assays market is projected to reach USD 10,230.3 million by 2025 from USD 8,205.3 million in 2020, at a CAGR of 4.5% during the forecast period. The growing prevalence of infectious diseases globally, increasing aging population, growing demand for point-of-care and home-based lateral flow assay devices, and increasing demand in food and environment safety and veterinary diagnostics industry are the major factors driving the growth of this market. On the other hand, the reluctance among doctors and patients to change existing diagnostic procedures and the low accuracy of lateral flow assays are the key factors restraining the growth of the market in the forecast period. Wide applications of lateral flow assays in food safety and environment testing promote the growth of this segment in the forecast period. Based on applications, the lateral flow assays market is broadly segmented into clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing. The food safety & environment testing segment is projected to register the highest growth rate in the lateral flow assays market, by an application during the forecast period. This can be attributed to lateral flow assays emerging as simple and rapid alternatives to traditional methods for the detection of foodborne pathogens and contaminants. In case of environment testing, lateral flow assays finding wide applications due to their ability to handle a wide variety of samples and perform many sample-handling tasks, such as filtration, concentration, and removal of cross-reactive elements. In the lateral flow assay kits & reagents by technique segment, sandwich assays holds the highest market share On the basis of technique, the lateral flow assay kits & reagents market is segmented into competitive assays, sandwich assays, and multiplex detection assays. Sandwich assays hold the highest share in the lateral flow assays market. The large share of this segment can be attributed to the better assay sensitivity and specificity associated with sandwich assays as well as its extensive application in the measurement of critical analytes (such as cardiac and hepatitis markers). By sample type, the Other Samples segment is growing at the fastest rate in the forecast period Based on sample type, the lateral flow assays market for clinical testing applications is segmented into blood, urine, saliva, and other samples. In this segment, Other Samples is projected to register the highest growth rate in the lateral flow assays market for clinical testing applications segment during the forecast period. The high growth rate of this segment can be attributed toan increase in R&D for lateral flow diagnostic testing and the need for more specific disease testing. North American region holds the highest market share in the lateral flow assays market North America is expected to account for the largest share of the global lateral flow assays market in 2019. The large share of the North American region is due to the lucrative growth opportunities the region offers due to the presence of several large hospitals and health systems, changing regulations, and the rising geriatric population in the country. A vast majority of global players are also based in the US, owing to which the country is a center for innovation in the lateral flow assays market. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary4 Premium Insights4.1 Lateral Flow Assays Market Overview4.2 Regional Mix: Lateral Flow Assays Market4.3 Lateral Flow Assays Market: Developed Vs. Developing Markets5 Market Overview5.1 Introduction5.2 Market Dynamics: Impact Analysis5.2.1 Market Drivers5.2.1.1 High Prevalence of Infectious Diseases Across the Globe5.2.1.2 Rapidly Increasing Geriatric Population5.2.1.3 Growing Usage of Home-Based Lateral Flow Assay Devices5.2.1.4 Growing Demand for Point-Of-Care Testing5.2.1.5 Need for Rapid Diagnostic Testing for COVID-195.2.2 Market Restraints5.2.2.1 Reluctance Towards Changing Existing Diagnostic Practices5.2.2.2 Lower Accuracy of Lateral Flow Assay Tests5.2.3 Market Opportunities5.2.3.1 Evolving Applications of Lateral Flow Assays5.2.3.2 Rising Demand for Lateral Flow Assays in the Food & Beverage Industry5.2.4 Challenges5.2.4.1 Limited Reimbursements for Lateral Flow Assay Products5.2.4.2 Difficulties in Procuring Quality Raw Materials for the Development of Lateral Flow Assay Tests5.3 Porter's Five Forces Analysis5.3.1 Threat from New Entrants5.3.2 Threat from Substitutes5.3.3 Bargaining Power of Suppliers5.3.4 Bargaining Power of Buyers5.3.5 Intensity of Competitive Rivalry5.4 Average Selling Price Trend5.5 Value Chain Analysis5.6 Ecosystem Map5.7 Technology Analysis5.7.1 Key Technology: Lateral Flow Assays5.7.2 Adjacent Technology: Elisa (Enzyme-Linked Immunosorbent Assays)5.8 COVID-19 Impact on the Lateral Flow Assays Market6 Industry Insights6.1 Introduction6.2 Industry Trends6.2.1 Integration of Microfluidic Technology in Lateral Flow Assays6.2.2 Demand for Quantitative Results6.2.3 Rising Demand for Multiplexed Lateral Flow Biosensors6.2.4 Nanoparticle-Based Lateral Flow Assays6.3 Regulatory Analysis6.3.1 North America6.3.2 Europe6.3.3 Asia6.3.3.1 India6.3.3.2 China6.3.3.3 Japan6.4 Component Analysis for Lateral Flow Assay Kits6.4.1 Membranes6.4.1.1 Nitrocellulose Membranes6.4.1.2 Other Membranes6.4.2 Pads6.4.2.1 Conjugate Pads6.4.2.2 Absorbent Pads7 Lateral Flow Assays Market, by Product7.1 Introduction7.2 Kits & Reagents7.2.1 Increasing Demand for Poc Testing is Driving the Demand for Kits & Reagents in the Lateral Flow Assays Market7.3 Lateral Flow Readers7.3.1 Digital/Handheld Readers7.3.1.1 Technological Advancements and High Accuracy are the Major Factors Driving the Growth of the Digital/Handheld Readers Market7.3.2 Benchtop Readers7.3.2.1 Lower Diagnosis Cost Per Patient is Driving the Benchtop Readers Market7.3.3 Mobile/Smartphone Readers7.3.3.1 Low Cost, Convenience, and User-Friendliness are Major Factors Driving the Growth of the Mobile/Smartphone Readers Market8 Lateral Flow Assays Market, by Application8.1 Introduction8.2 Clinical Testing8.2.1 Infectious Disease Testing8.2.2 Cardiac Marker Testing8.2.3 Pregnancy & Fertility Testing8.2.4 Cholesterol Testing/Lipid Profiles8.2.4.1 Growing Prevalence of Obesity and Cvd is the Key Factor Driving Market Growth8.2.5 Drugs-Of-Abuse Testing8.2.5.1 Technological Advancements and Growing Focus on Workplace Drug Testing are Driving Market Growth8.2.6 Other Clinical Tests8.3 Veterinary Diagnostics8.3.1 Infectious Disease Outbreaks (Particularly in Large Livestock Animals) to Drive Market Growth8.4 Food Safety & Environment Testing8.4.1 High Sensitivity and Ease of Use are Driving the Demand for Lateral Flow Assays for Food Safety Testing8.5 Drug Development & Quality Testing8.5.1 Increasing Focus on Product Safety and Quality Assurance is Driving the Growth of this Market8.6 COVID-19 Impact on the Lateral Flow Assay Application Market9 Lateral Flow Assay Kits & Reagents Market, by Technique9.1 Introduction9.2 Sandwich Assays9.2.1 Wide Applications of Sandwich Assays in Clinical Testing Contributing to the Largest Share of this Segment9.3 Competitive Assays9.3.1 Reduced Selectivity and Sensitivity of Competitive Assays in Relation to Sandwich Assays Could Hamper Growth9.4 Multiplex Detection Assays9.4.1 Increasing Adoption of Multi-Analyte Assays Among Clinicians to Drive the Growth of this Market10 Clinical Testing Lateral Flow Assays Market, by Sample Type10.1 Introduction10.2 Blood Samples10.2.1 Increasing Use of Blood Samples for Infectious Disease Testing to Drive the Growth of this Segment10.3 Urine Samples10.3.1 Growing Use of Urine Samples for Pregnancy Testing and Drugs-Of-Abuse Testing to Drive the Growth of this Market10.4 Saliva Samples10.4.1 Easy and Low-Cost Collection, Transport, and Analysis of Saliva Samples are the Key Factors Driving Market Growth10.5 Other Samples11 Lateral Flow Assays Market, by End-user11.1 Introduction11.2 Hospitals & Clinics11.3 Diagnostic Laboratories11.4 Home Care Settings11.4.1 Growing Acceptance of Remote Monitoring Driving the Growth of the Lateral Flow Assays Market for Home Care11.5 Pharmaceutical & Biotechnology Companies11.5.1 Increasing Focus on Product Safety to Drive the Use of Lateral Flow Assays Among Pharmaceutical & Biotech Companies11.6 Other End-users12 Lateral Flow Assays Market, by Region12.1 Introduction12.2 North America12.3 COVID-19 Impact on the Lateral Flow Assays Market in North America12.4 Europe12.5 COVID-19 Impact on the Lateral Flow Assays Market in Europe12.6 Asia-Pacific12.7 COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific12.8 Latin America12.9 COVID-19 Impact on the Lateral Flow Assays Market in Latin America12.10 Middle East & Africa12.11 COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa13 Competitive Landscape13.1 Introduction13.2 Revenue Share Analysis of the Top Market Players13.3 Product Benchmarking13.4 Geographical Assessment of Major Players in the Lateral Flow Assays Market13.5 Competitive Assessment of the R&D Expenditure13.6 Competitive Situations and Trends13.6.1 Product Launches13.6.2 Expansions13.6.3 Acquisitions13.6.4 Partnerships, Agreements, and Collaborations14 Company Evaluation Matrix and Company Profiles14.1 Company Evaluation Matrix Definition & Methodology14.2 Lateral Flow Assays Market Share (2019)14.3 Competitive Leadership Mapping14.3.1 Stars14.3.2 Emerging Leaders14.3.3 Pervasive Players14.3.4 Participants14.4 Competitive Leadership Mapping for Start-Ups (2019)14.4.1 Progressive Companies14.4.2 Dynamic Companies14.4.3 Starting Blocks14.4.4 Responsive Companies14.5 Company Profiles(Business Overview, Products Offered, Recent Developments, SWOT Analysis and Analyst's View)*14.5.1 Abbott Laboratories14.5.2 F. Hoffmann-La Roche Ag14.5.3 Danaher Corporation14.5.4 Siemens Ag14.5.5 Becton, Dickinson and Company14.5.6 Biomerieux Sa14.5.7 Bio-Rad Laboratories, Inc.14.5.8 Thermo Fisher Scientific Inc.14.5.9 Qiagen N.V.14.5.10 Perkinelmer Inc.14.5.11 Hologic Inc.14.5.12 Quidel Corporation14.5.13 Merck KGaA14.5.14 ABCAM plc14.5.15 Surmodics Ivd14.5.16 Chembio Diagnostic Systems, Inc.14.5.17 Orasure Technologies14.5.18 DCN Diagnostics14.5.19 Polysciences, Inc.14.5.20 Abingdon Health15 Appendix15.1 Insights from Industry Experts15.2 Discussion Guide15.3 Knowledge Store: Subscription Portal15.4 Available Customizations For more information about this report visit https://www.researchandmarkets.com/r/aptxg9 Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: Global Lateral Flow Assays Market (2020 to 2025) - Evolving Applications of Lateral Flow Assays Present Opportunities