Asia and Africa Lateral Flow Assay Market is expected to reach US$ 2,159.62 million by 2028

Publisher: The Insight Partners

Sandwich Assay Technology to Dominate Asia and Africa Lateral Flow Assay Market During 2023–2028

According to our new research study on "Asia and Africa Lateral Flow Assay Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type, Application, Technology, and End User," the Asia and Africa lateral flow assay market was valued at US$ 1,509.08 million in 2022 and is projected to reach US$ 2,159.62 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2023 to 2028. The increasing use of home-based assay kits and the rising popularity of point-of-care testing are among the key factors bolstering the growth of the Asia and Africa lateral flow assay Market. However, inconsistent assay results due to procedural limitations hinder the market growth.

Based on technology, the Asia and Africa lateral flow assay market is segmented into sandwich assays, competitive assays, and multiplex detection assays. The sandwich assays segment held the largest market share in 2022, and the multiplex detection assays segment is anticipated to register the highest CAGR during the forecast period. In a sandwich lateral flow assay, the conjugate pad on test kits contains antibodies that bind to the epitope of the target antigen present in the sample. As the sample passes through the conjugate pad, the target binds to the detector-conjugated antibodies and flows toward the test line on the membrane.

Asia and Africa Lateral Flow Assay Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00029918 Source: The Insight Partners Analysis

A pregnancy test kit is the most commonly used sandwich lateral flow assay. This assay technology was also used for developing point-of-care detection products for the diagnosis of COVID-19. The growing demand for home testing kits for COVID-19 due to the higher susceptibility of COVID patients to other diseases fuels the growth of the market for the sandwich lateral flow assay segment.

Rising Popularity of Point-of-Care Testing

Lateral flow assay-based point-of-care (POC) diagnostic tools are rapid, easy-to-use, and low-cost paper-based procedures, which are specifically perceived to be beneficial in resource-limited settings and industrialized countries. These tests are increasingly replacing prolonged, conventional laboratory methods. No training and complex infrastructures are required to run POC diagnostic tests. Thus, these tests cost less than conventional laboratory diagnostic techniques. POC testing tools are expected to be a crucial revenue pocket in the lateral flow assay market because of their prominent role in combating the burgeoning disease burden. Many companies are engaged in developing innovative lateral flow assay-based POC devices for infectious disease diagnosis, drugs-of-abuse screening, pregnancy (using hCG levels) and ovulation confirmation, and blood protein marker measurement. In July 2022, Hemex Health, a US-based medical diagnostic device company, and Mylab Discovery Solutions, an Indian startup, joined forces to create diagnostic solutions to transform frontline healthcare. In India, they launched the Gazelle PathoCatch COVID-19 FIA test as a collaborative diagnostic solution for POC testing.

The rising popularity of POC testing and ongoing developments in lateral flow assay-based POC testing fuel the growth of the Asia and Africa lateral flow assay market.

Hoffmann-La Roche Ltd; Thermo Fisher Scientific Inc; Abbott Laboratories; Merck KGaA; Hologic Inc; Qiagen NV; bioMerieux SA; Bio-Rad Laboratories Inc; Access Bio Inc; Danaher Corp; J Mitra & Co Ltd; Agappe Diagnostics Ltd; Premier Medical Corp Pvt Ltd; Tulip Diagnostics Pvt Ltd; IDVET; Beacon Diagnostics Pvt Ltd; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; and SD BIOSENSOR INC. are among the leading companies operating in the Asia and Africa lateral flow assay Market.

The report segments the Asia and Africa lateral flow assay market as follows:

The Asia and Africa lateral flow assay market, by product type, is bifurcated into kits & reagents and lateral flow readers. The kits & reagents segment held a larger market share in 2022. In terms of application, the Asia and Africa lateral flow assay market is segmented into clinical testing, veterinary diagnostics, food safety & environmental testing, and drug development & quality testing. The clinical testing segment held the largest market share in 2022. Based on technology, the Asia and Africa lateral flow assay market is segmented as sandwich assays, competitive assays, and multiplex detection assays. The sandwich assays segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR in the market during the forecast period. By end user, the market is segregated into hospitals & clinics, pharmaceutical & biotechnology companies, diagnostic laboratories, home care, veterinary clinics, and others. The hospitals & clinics segment held the largest share of the market in 2022, and the diagnostic laboratories segment is anticipated to register the highest CAGR during the forecast period.

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