Lateral Flow ReadersMarket Size, Share and Global Trend By Type (Benchtop readers, Handheld readers), By Application (Fertility testing, Infectious diseases testing, Drug development, Veterinary diagnostics, Others), By End-user (Hospitals, Diagnostic laboratories, Biotechnology/Pharmaceutical companies, Point of care, Others), and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
In July 2018, Abingdon Health announced the launch of the company’s ADxLR5 Developer, an “off the shelf” lateral flow reader. Lateral flow readers are equipments designed to quantitatively and qualitatively analyse the results obtained from lateral flow assays. These are used in home testing, point of care testing and laboratory use.
Owing to the increasing prevalence disorders like infertility, influenza infection, cancer among others is anticipated to drive the global lateral flow readers market. The increasing need of rapid diagnostic test that could help in reduced treatment time of a medical condition is also one of the factors projected to fuel the global lateral flow readers market.
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Rise in prevalence of chronic diseases such as cancer, diabetes and others, use of the new and faster disease detection techniques are some the factors drive the growth of the global lateral flow readers market. Increasing number of patients suffering from infectious diseases such as hepatitis B, malaria, dengue and others is leading to growing demand from healthcare facilities for a rapid detection system.
This combined with technological advancements in lateral flow readers and high investment in the product development are also some of the factors driving the growth of the global lateral flow readers market. For instance, in November 2018, Abingdon Health announced the launch of AppDx, a mobile application that provides rapid analytical testing for lateral flow assays.
On the flip side, high cost of investment and lack of accuracy of lateral flow readers are some of the factors estimated to restrain the global lateral flow readers market.
Key Players Covered
Some of the major companies that are present in the global lateral flow readers market are Cellmic, LLC (Holomic), Neogen Corporation, GenPrime, MagnaBioSciences, LLC, DCN Diagnostics, QIAGEN, Novarum DX Ltd (BBI Group), Axxin and others.
SEGMENTATION
SEGMENTATION | DETAILS |
By Type | · Benchtop readers · Handheld readers |
By Application | · Fertility testing · Infectious diseases testing · Drug development · Veterinary diagnostics · Others |
By End-user | · Hospitals · Diagnostic laboratories · Biotechnology/Pharmaceutical companies · Point of care · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
Among the segmentation of application, infectious disease testing is anticipated to account for major share in the global lateral flow readers market owing to the increasing prevalence of infectious disease combined with the rising demand for rapid diagnosis.
Key Insights
- New product launches by key players
- Overview of regulatory scenario in key countries
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Key strategies of leading market players
Regional Analysis
The global lateral flow readers market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America projected to dominated the global lateral flow readers market in 2018. Increase in prevalence of infectious diseases, rise in investment of the drug development sector and higher emphasis on early diagnosis of infectious diseases by regional and national government agencies, are some of the important factors driving the growth of the global lateral flow readers market. Asia Pacific is expected to gain market share during the forecast period owing to rapid development in medical research segment leading to rising demand for lateral flow readers, combined with increasing prevalence of chronic and infectious diseases presenting a large patient population undergoing diagnostic tests.
Key Industry Developments
- In October 2017, Abbott announced the completion of the acquisition of Alere, that could further lead to renaming of the lateral glow reader ALERE READER to DIGIVAL.
- In February 2019, Abbott announced the launch of BinaxNOW, a rapid influenza diagnostic test that can be used with Abbott’s DIGIVAL lateral flow reader.
- Ongoing
- 2023
- 2019-2022
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