Portland, OR -- (SBWIRE) -- 08/25/2017 -- Lateral flow assays, also known as lateral flow immunochromatographic assays, are devices used to detect the presence (or absence) of a target analyte in sample (matrix). These assays are widely used in hospitals and clinical laboratories for the qualitative and quantitative detection of specific antigens and antibodies.

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Factors such as high prevalence of infectious diseases, the rise in geriatric population, growth in demand for home-based lateral flow assay test kits, increase in disposable income and surge in demand for point-of-care testing drive the growth of the global lateral flow assay market. However, stringent and time-consuming regulatory policies for assays performed to detect presence or absence of any analyte and unwillingness of people towards changing the existing medical practices restrain the market growth. Advancement of technology and increase in applications of lateral flow assay tests in clinical diagnostics provide lucrative opportunities for the market growth.

The lateral flow assay market is segmented on the basis of product, technique, application, end user, and region. Based on product, the market is bifurcated into lateral flow readers and kits & reagents. The lateral flow readers segment is sub segmented into digital/mobile readers and benchtop readers. By technique, the market is classified into the competitive assay, sandwich assay, and multiplex detection assay. Applications covered in the study include veterinary diagnostics, clinical/point-of-care testing, and drug development & quality testing. Clinical/point-of-care testing segment is further divided into infectious disease testing, cardiac marker testing, pregnancy & fertility testing, cholesterol & lipid testing, drugs-of-abuse testing, and others. According to end user, the market is segmented into home care, diagnostic laboratories, hospitals & clinics, and pharmaceutical & biotechnology companies. Geographically, it is analyzed across North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

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Lateral Flow Assay Market Key Segments:

By Product

- Lateral Flow Readers
- Digital/Mobile Readers
- Benchtop Readers
- Kits & Reagents

By Technique

- Competitive Assay
- Sandwich Assay
- Multiplex Detection Assay

By Application

- Veterinary Diagnostics
- Clinical/Point-of-care Testing
- Infectious Disease Testing
- Cardiac Marker Testing
- Pregnancy & Fertility Testing
- Cholesterol & Lipid Testing
- Drugs-of-abuse Testing
- Other Tests
- Drug Development & Quality Testing

By End User

- Home Care
- Diagnostic Laboratories
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies