The Asia Pacific Lateral Flow Assays Market would witness market growth of 3.6% CAGR during the forecast period (2021-2027).
Increased government participation in controlling infectious disease outbreaks and rising awareness programmes to improve infection spread, diagnosis, and prevention, as well as the launch of diagnosis systems in home care settings, are predicted to promote the growth of the market during the forecast period. These assays do not need high-tech or sophisticated tools, but there are a variety of lab-based applications accessible that are enabled by the reading devices. The increased need for point-of-care testing, as well as the increasing emphasis on adopting lateral flow assay-based POC testing devices to attain optimum mobility, are projected to drive the lateral flow assays market over the projected period.
The rapid expanding health sector in China and India, the ageing population, soaring rising per capita income, life expectancy, and increased investments in the region by industry participants would create demand for better and effective testing methods. In addition, the development of private-sector hospitals and clinics to rural regions, the access to cost-effective labor for manufacturing, the existence of a positive regulatory environment, and rising demand for home and POC testing are all driving the growth of the regional market. In India, the government has recognized Sexually transmitted diseases (RTIs/STIs) and other reproductive tract infections (RTIs/STIs) as a public health issue, particularly because of their link to HIV infection.
The China market dominated the Asia Pacific Lateral Flow Assays Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.0 billion by 2027. The Japan market is anticipated to grow at a CAGR of 3% during (2021 - 2027). Additionally, The India market would witness CAGR of 4.4% during (2021 - 2027).
Based on type, the market is segmented into Kits & Reagents and Lateral Flow Readers. Based on Technique, the market is segmented into Sandwich Assays, Competitive Assays, and Multiplex Detection Assays. Based on Sample Type, the market is segmented into Blood Samples, Urine Samples, Saliva Samples , and Other Samples.
Based on Application, the market is segmented into Clinical Testing, Drug Development & Quality Testing, Veterinary Diagnostics, and Food Safety & Environmental Testing. Based on End User, the market is segmented into Hospitals & Clinics, Diagnostics Laboratories, Pharmaceuticals & Biotechnology Companies, Home Care Settings and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Lateral Flow Assays Market is Projected to reach USD 13.4 Billion by 2027, at a CAGR of 2.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Becton, Dickinson and Company, Hologic, Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Quidel Corporation, Siemens AG, PerkinElmer, Inc., and F. Hoffmann-La Roche Ltd.
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