Report : Asia and Africa Lateral Flow Assay Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Kits & Reagents and Lateral Flow Readers), Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, and Drug Development & Quality Testing), Technology (Sandwich Assay, Competitive Assays, and Multiplex Detection Assay), and End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Diagnostics Laboratories, Homecare, Veterinary Clinics, and Others)
Increasing Use of Home-Based Assay Kits Drives Asia and Africa Lateral Flow Assay Market
According to our new research study on "Asia and Africa Lateral Flow Assay Market Forecast to 2028 – COVID-19 Impact and Global 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 bolster the market growth. However, inconsistent assay results due to procedural limitations hinder the Asia and Africa Lateral Flow Assay Market growth.
Increasing Use of Home-Based Assay Kits Drives Lateral Flow Assay Market Growth
Lateral flow assays (LFA) are paper-based tests designed for the detection of analytes (condition-specific biomolecules) in complex mixtures (biological samples), wherein samples are placed in a designated spot in a test device. These tests provide results within 5–30 minutes. Lateral flow assay kits exhibit stability over various environmental conditions and prolonged shelf life. Home tests based on lateral flow assays permit users to test self-collected samples and obtain results without the assistance of a trained medical professional. These tests are generally sold over the counter. A pregnancy test kit is one of the most familiar examples of home-based lateral flow assays. Further, these assays are designed for the diagnosis of infectious diseases, cardiovascular diseases, and stigmatized diseases such as HIV. Therefore, the rising prevalence of these diseases and the increasing adoption of lateral flow assay testing in home healthcare drive the lateral flow assay market growth. During the COVID-19 pandemic, many companies introduced at-home products based on lateral flow assays for the diagnosis of SARS-CoV-2 infection due to people’s reluctance to visit hospitals or diagnostic labs for testing.
- In October 2020, Siemens Healthineers launched the CLINITEST Rapid COVID-19 Antigen Self-Test that helps detect the infection in 15 minutes so that the infected individuals can be isolated sooner to avoid the disease spread.
- In July 2020, BD Launched a portable, rapid point-of-care antigen test to detect SARS-CoV-2 infection in 15 minutes.
- In August 2020, the US Food and Drug Administration (FDA) issued an Emergency Use Authorization for Abbott BinaxNOW COVID-19 Ag Card, a rapid test to detect the disease. BinaxNOW uses Abbott’s proven lateral flow technology, making it a friendly and reliable method for frequent mass testing among healthcare providers.
- In September 2020, Roche launched a SARS-CoV-2 Rapid Antigen Test for markets accepting the CE Mark.
COVID-19 Impact on Africa Lateral Flow Assay Market
In April 2020, a direct-to-consumer working group at the Mass General and Brigham Center for COVID Innovation tested Do you mean ”tested available serological samples using 20 lateral flow assays (LFAs) selected based on assay characteristics and supply chain availability. The LFAs were evaluated through blinded operators using the samples to standardize the accuracy evaluation. Also, the manufacturers developed a user-friendly web tool to assist end users in interpreting the results. LFAs offer an attractive option to monitor the presence and longevity of anti-SARS-CoV-2 antibodies by determining the population-level herd immunity.
. 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 Asia and Africa lateral flow assay market, by product type, is bifurcated into kits & reagents and lateral flow readers. The kits & reagents segment held the largest market share in 2022 during the forecast period. In terms of application, the Asia and Africa lateral flow assay market is segmented into clinical testing, veterinary diagnostics, food safety & environmental testing, 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 Asia and Africa lateral flow assay market is segregated as 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 diagnostic laboratories is anticipated to register highest CAGR during the forecast period.
Contact Person: Sameer Joshi
Email Id: email@example.com