The Europe Lateral Flow Assays Market would witness market growth of 2.1% CAGR during the forecast period (2021-2027).
Technical advances in the area of lateral flow assays (LFA) have also contributed to market expansion. Novel signal amplification techniques, the introduction of new labels, enhanced quantification systems, and concurrent detection have all supported the significant improvements in LFA development in recent years. New strategies have been developed to improve the signal from gold nanoparticles (colloidal nanoparticles) GNPs have been enhanced with silver or combined with an enzyme (like horseradish peroxidase), resulting in catalytic amplification of the signal.
HIV/AIDS prevention, treatment, and care are gaining more significance in Europe over the last few decades. In the WHO European Region, where no country has been spared, more than two million individuals are infected with the disease. Despite the fact that this number is low when compared to the worst-affected region, it marks an unprecedented spike in new cases. The rapid spread of HIV in Eastern Europe, in particular, is one of the region's most pressing public health issues. Three eastern European countries have gone from a few reported cases to an estimated HIV prevalence of more than 1% among adults aged 15–49 in the last ten years. Since lateral flow assays are widely used to check test and evaluate various diseases including HIV, the demand for these assays would increase among various healthcare institutions.
The Germany market dominated the Europe Lateral Flow Assays Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $919.5 million by 2027. The UK market is poised to grow at a CAGR of 1.3% during (2021 - 2027). Additionally, The France market would showcase a CAGR of 2.8% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Lateral Flow Assays Market Size will Hit $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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