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The global lateral flow assay market is expected to grow from USD 8.45 billion in 2022 to USD 11.77 billion by 2030, at a CAGR of 4.23% during the forecast period 2022-2030. The increasing prevalence of infectious diseases will drive the global lateral flow assay market’s growth.
A lateral flow assay is a medical device used to test the absence or presence of a target pathogen or other analytes. An analyte is a chemical substance extracted to be sampled and tested for diagnosis. The most common example of a lateral flow assay could be the pregnancy kit test widely used globally to detect whether or not a woman is pregnant. However, lateral flow assay gained prominence only in the face of the covid-19 pandemic when rapid antigen tests were used to detect the presence of coronavirus in the body from the fluid sample collected through a nasal swab. The lateral flow assays are known by different terms like lateral flow tests, lateral flow immunochromatographic assays, quick tests, test strips and dipsticks. They can be used in at-home care settings or laboratories. A recent example of lateral flow assay used in home care settings is the covid home test kit. Lateral flow assays are also used to test the presence or absence of environmental contaminants or chemical toxins in food, water and animal feeds. They are also used in lipid profiling to test drug abuse and detect cardiac biomarkers. They are easy to use, affordable and accessible. The results or readings are visual representations making it convenient for an average individual to conclude the findings without medical know-how. Lateral flow assay tests are combined with monitors or reader technology in a laboratory setting to offer more insights for conclusions. The rapid results, easy-to-use nature and affordable pricing make it an ideal medical device in a low-resource environment.
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October 2022 - BioLytical Laboratories Inc., a leader in rapid in-vitro medical diagnostics, announced that its iStatis COVID-19 Antigen Home Test has been granted a WHO PQ (Prequalification), enabling it to enter worldwide markets right away. bioLytical introduced iStatis to complement its ground-breaking INSTI testing platform to continue fostering dependable access to testing. With the addition of innovative lateral flow technology to its product line, bioLytical is able to expand its customer base and provide fair access to a quick COVID-19 antigen self-test that offers industry-leading accuracy.
October 2022 - Researchers from the Universities of Birmingham, Durham, and Oxford examined the possibility of using a machine learning algorithm to increase the precision of COVID-19 antigen lateral flow device results. In order to test the AI software, the LFD AI Consortium team collaborated with healthcare professionals conducting self-tests at test sites supported by the UK Health Security Agency. More than 100,000 photos were provided as part of the study. The team discovered that the algorithm might improve the findings' sensitivity by going from 92% to 97.6% accuracy in separating real positives from false negatives.
Drivers:
The increasing prevalence of infectious diseases – The covid-19 pandemic has shown how increasing globalization can wreak havoc with the transport of pathogens over country borders. The risk of a localized infection becomes a global nightmare when not controlled and reported on time, as seen in the case of the covid-19 pandemic. The rising risk of climate change has increased the possibility of endemic pathogens re-emerging. The unnecessary and avoidable use of antibiotics and other medications strengthens new strains of viruses, bacteria and other pathogens, making them resistant to the available vaccines or drugs. Furthermore, the increasing consumption of meat or exotic meat has increased the risk of vector-borne diseases, making humans highly susceptible to animal viruses as they gain the ability to invade a human host. Therefore, the increasing risk of climate change, rapid urbanization, globalization, and pathological and other human factors have led to the rising prevalence of infectious diseases. The rise in infectious diseases will augment the growth of the global lateral flow assay market.
Restraints:
Unreliable results – The lateral flow assays will be used with the instructions provided. The test kits are not 100% accurate. Even the most advanced test kits do not offer accurate results. The kits are prone to depicting false negatives and positives. The sampling error on the user's part or the inability to follow the instructions properly can lead to misleading results. Misleading results can lead to a false or no diagnosis, severely impacting the patient. Therefore, test kits' unreliable nature will restrict the market's growth. Furthermore, the convention of visiting hospitals as a primary healthcare service provider in case of any medical emergency or otherwise adds to the limiting growth of at-home-care testing kits.
Opportunities:
Technological advancements and product innovations – The increasing prevalence of infectious diseases has prompted the government to improve testing methodologies to stay ahead of the disease. Testing, contact tracing and isolation of positive patients are the preventive measures taken by the government at the beginning of a virus outbreak. These steps are critical before the vaccine is developed and administered to every citizen. The growing government support through funding and favourable policies to develop highly precise lateral flow assays will offer lucrative opportunities for the market. The studies and research being conducted to test the efficiency of artificial intelligence to improve the precision and accuracy of testing results have shown promising results. Therefore, the technological advancement and product innovations spearheaded by the government and private players will augment the market's growth.
Challenges:
Stringent regulatory guidelines – Lateral flow assays are designed for home care settings. They are disposable and affordable, making them an ideal option for testing. The direct contact of lateral flow assays with consumers makes it a critical category of medical devices that needs to be regulated and monitored closely by public authorities. The occurrence of false positives/negatives or faulty kits leads to mental anguish for the consumers. False negatives/positives can lead to a misleading diagnosis which can cause fatal consequences if not detected. Therefore, the regulatory authorities follow a comprehensive testing and approval procedure to establish the accuracy of testing kits. The long and arduous process of approvals, followed by accountability measures, can challenge the market's growth.
Regional segmentation analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest market for the global lateral flow assay market, with a 40.93% market revenue share in 2022. The region's well-established healthcare and pharma sector allows the population access to affordable lateral flow assay products. The countries in the region are developed with high per capita income, enabling the consumers to afford lateral flow assays with their rising disposable income. The COVID-19 pandemic boosted the technological advancements and product innovations in lateral flow tests, making them faster, cheaper and easy to use, thereby propelling the market's growth. The increasing prevalence of infectious diseases will augment the demand for lateral flow tests, facilitating the market's development. The extensive retail and hospital pharmacy network enhances the accessibility for consumers. Furthermore, the growing presence of lateral flow tests on online pharmacy platforms will advance the reach of the market. Significant market players offering several products, each with enhanced effectiveness, will increase the competitive landscape, resulting in better products at an affordable cost. The increase in government funding to develop lateral flow assay tests in the face of the covid-19 pandemic is expected to retain its moment as the threat of future pandemics looms worldwide. The Asia Pacific market is anticipated to grow the fastest during the forecast period. The lack of preventive healthcare measures in the region's low- and middle-income countries exposes the population to multiple infectious diseases. The increasing infectious disease prevalence will propel the market's growth. The increasing public healthcare expenditure will also augment the market's development. The region's vast population without proper medical supply, given the lack of proper public healthcare infrastructure, leads to a supply-demand mismatch. The unmet demands in the region offer the substantive market potential to private market companies. The region's potential consumer market is attracting key players, advancing the lateral flow assay market.
North America Region Lateral Flow Assay Market Share in 2022 - 40.93%
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Product type segment analysis
The product type segment is divided into kits & reagents and lateral flow readers. The lateral flow readers can be further divided into digital readers and benchtop readers. The kits & reagents segment dominated the market with a revenue share of around 57% in 2022. The ease of use and affordability are the primary factors driving the segment's popularity in the global lateral flow assay market. The growing presence of pharmacies offering these products as over-the-counter medical devices is convenient for consumers. The sensitive nature of certain tests, results of which consumers prefer to restrict to themselves, is enabled by the kits & reagents, therefore increasing their adoption globally.
Technique segment analysis
The technique segment is divided into sandwich assays, multiplex detection assays and competitive assays. The sandwich assays segment dominated the market with a market share of around 46% in 2022. Sandwich assays represent the presence of an antibody of analyte by depicting a coloured line near the test line position. Sandwich assays are highly sensitive, meaning they detect the presence of targeted analyte even when it is in smaller quantities in the sample. The sandwich assays or tests can be used to detect unknown antibodies. They can be used to test complex samples as well. They offer flexibility. Sandwich assays are easy to use, affordable and offer fast and accurate results.
Application segment analysis
The application is divided into clinical testing, veterinary diagnostics, food safety & environment testing, drug development & quality testing, and others. The clinical testing segment dominated the market with a market share of around 54% in 2022. Clinical testing involves infectious disease testing, cardiac market testing, pregnancy & fertility testing, lipid profiling, drug abuse testing and others. The wide range of use of clinical testing, given the increasing prevalence of infectious diseases and a rise in cardiovascular diseases, is segmenting the growth of the segment. The increasing incidence of drug abuse will also propel the market's growth.
Distribution channel segment analysis
The distribution channel is divided into hospitals & clinics, home care, diagnostic laboratories, pharmaceutical & biotechnology companies and others. The hospitals & clinics segment dominated the market with a market share of around 48% in 2022. Hospitals and clinics are the preferred institutions for most populations regarding any disease/illness or condition. The increasing flow of patients with the rapid re-emergence of infectious diseases requires quick and accurate diagnosis to identify and prioritize the most critical cases. Therefore, hospitals and clinics heavily rely on lateral flow assays as a primary testing method to categorize patients and optimize hospital resources to save every life.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 8.45 Billion |
| Market size value in 2030 | USD 11.77 Billion |
| CAGR (2022 to 2030) | 4.23% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Segments | Key Segments are application, product, end-user, and regions |
| Regional Segments | The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa. |
As per The Brainy Insights, the size of the lateral flow assay market was valued at USD 8.45 billion in 2022 to USD 11.77 billion by 2030.
Global lateral flow assay market is growing at a CAGR of 4.23% during the forecast period 2022-2030.
The market's growth will be influenced by the increasing prevalence of infectious diseases.
Unreliable results could hamper the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Technique
4.3.3. Market Attractiveness Analysis by Application
4.3.4. Market Attractiveness Analysis by Distribution Channel
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing prevalence of infectious diseases
5.3. Restraints
5.3.1. Unreliable results
5.4. Opportunities
5.4.1. Technological advancements and product innovations
5.5. Challenges
5.5.1. Stringent regulatory guidelines
6. Global Lateral Flow Assay Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Kits & Reagents
6.3. Lateral Flow Readers
6.3.1. Digital Readers
6.3.2. Benchtop Readers
7. Global Lateral Flow Assay Market Analysis and Forecast, By Technique
7.1. Segment Overview
7.2. Sandwich Assays
7.3. Multiplex Detection Assays
7.4. Competitive Assays
8. Global Lateral Flow Assay Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Clinical Testing
8.3. Veterinary Diagnostics
8.4. Food Safety & Environment Testing
8.5. Drug Development & Quality Testing
8.6. Others
9. Global Lateral Flow Assay Market Analysis and Forecast, By Distribution Channel
9.1. Segment Overview
9.2. Hospitals & Clinics
9.3. Home Care
9.4. Diagnostic Laboratories
9.5. Pharmaceutical & Biotechnology Companies
9.6. Others
10. Global Lateral Flow Assay Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Lateral Flow Assay Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Lateral Flow Assay Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. Abbott Laboratories
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Becton, Dickinson and Company
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Biomérieux SA
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Bio-Rad Laboratories
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Danaher Corporation
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. F Hoffmann-La Roche Ltd.
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Merck
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. Quidel Corporation
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Siemens Healthineers AG
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Thermo Fisher Scientific Inc.
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
List of Table
1. Global Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
2. Global Kits & Reagents Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
3. Global Lateral Flow Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
3.1. Global Digital Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
3.2. Global Benchtop Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
4. Global Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
5. Global Sandwich Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
6. Global Multiplex Detection Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
7. Global Competitive Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
8. Global Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
9. Global Clinical Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
10. Global Veterinary Diagnostics Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
11. Global Food Safety & Environment Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
12. Global Drug Development & Quality Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
13. Global Others Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
14. Global Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
15. Global Hospitals & Clinics Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
16. Global Home Care Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
17. Global Diagnostic Laboratories Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
18. Global Pharmaceutical & Biotechnology Companies Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
19. Global Others Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
20. Global Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion)
21. North America Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
22. North America Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
23. North America Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
24. North America Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
25. U.S. Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
26. U.S. Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
27. U.S. Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
28. U.S. Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
29. Canada Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
30. Canada Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
31. Canada Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
32. Canada Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
33. Mexico Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
34. Mexico Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
35. Mexico Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
36. Mexico Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
37. Europe Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
38. Europe Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
39. Europe Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
40. Europe Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
41. Germany Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
42. Germany Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
43. Germany Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
44. Germany Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
45. France Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
46. France Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
47. France Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
48. France Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
49. U.K. Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
50. U.K. Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
51. U.K. Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
52. U.K. Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
53. Italy Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
54. Italy Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
55. Italy Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
56. Italy Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
57. Spain Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
58. Spain Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
59. Spain Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
60. Spain Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
61. Asia Pacific Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
62. Asia Pacific Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
63. Asia Pacific Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
64. Asia Pacific Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
65. Japan Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
66. Japan Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
67. Japan Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
68. Japan Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
69. China Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
70. China Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
71. China Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
72. China Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
73. India Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
74. India Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
75. India Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
76. India Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
77. South America Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
78. South America Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
79. South America Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
80. South America Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
81. Brazil Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
82. Brazil Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
83. Brazil Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
84. Brazil Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
85. Middle East and Africa Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
86. Middle East and Africa Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
87. Middle East and Africa Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
88. Middle East and Africa Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
89. UAE Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
90. UAE Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
91. UAE Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
92. UAE Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
93. South Africa Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion)
94. South Africa Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion)
95. South Africa Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)
96. South Africa Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)
List of Figures
1. Global Lateral Flow Assay Market Segmentation
2. Lateral Flow Assay Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Lateral Flow Assay Market Attractiveness Analysis by Product Type
9. Global Lateral Flow Assay Market Attractiveness Analysis by Technique
10. Global Lateral Flow Assay Market Attractiveness Analysis by Application
11. Global Lateral Flow Assay Market Attractiveness Analysis by Distribution Channel
12. Global Lateral Flow Assay Market Attractiveness Analysis by Region
13. Global Lateral Flow Assay Market: Dynamics
14. Global Lateral Flow Assay Market Share by Product Type (2022 & 2030)
15. Global Lateral Flow Assay Market Share by Technique (2022 & 2030)
16. Global Lateral Flow Assay Market Share by Application (2022 & 2030)
17. Global Lateral Flow Assay Market Share by Distribution Channel (2022 & 2030)
18. Global Lateral Flow Assay Market Share by Regions (2022 & 2030)
19. Global Lateral Flow Assay Market Share by Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the lateral flow assay market based on below mentioned segments:
Lateral Flow Assay Market by Product Type:
Lateral Flow Assay Market by Technique:
Lateral Flow Assay Market by Application:
Lateral Flow Assay Market by Distribution Channel:
Lateral Flow Assay Market by Region:
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The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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