Lateral Flow Testing Market – Growth, Trends, COVID-19

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New York, July 01, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Lateral Flow Assay Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https: // www. reportlinker.com/p06101230/?utm_source=GNW
The COVID-19 pandemic is having a positive impact on the market. Instead of sending patient samples to the lab, using lateral flow test kits can be convenient because they are smaller, portable, and can be controlled with minimal training. This makes them attractive for deployment outside health facilities, in low- and middle-income countries, or for countries that are deploying mass screening programs in the population. Although less accurate than PCR tests, their low cost, speed and ease of use make lateral flow tests particularly attractive to countries that do not have large laboratory or health worker facilities. qualified to easily perform PCR testing for COVID-19. Some countries, such as Slovakia and the United Kingdom, widely use lateral flow tests as a means of mass screening programs. For example, the UK government is monitoring the use of the Innova SARS-CoV-2 Antigen rapid qualitative test in Liverpool, which currently has high rates of COVID-19, and plans to roll it out nationwide.

A major factor contributing to the growth of the market is the increasing global rate of infectious diseases, HIV and cancer, which requires new diagnostic methods of effective treatment to stop the increasing death rate. For example, according to the Joint United Nations Program on HIV and AIDS (UNAIDS), in 2019, 24.5 million people living with HIV receive antiretroviral therapy worldwide.

Technical advancements in the area of ​​Lateral Flow Assays (LFA) have also driven the market growth. In recent years, major advances in LFA development have included new signal enhancement techniques, the use of new markers, improved quantification systems, and simultaneous detection. Some new techniques have been used to improve the signal of gold nanoparticles (colloidal nanoparticles).

In addition, increased government involvement in controlling infectious disease outbreaks and increasing awareness programs to improve the spread of infections, diagnosis and prevention, as well as the launch of diagnostic systems in home care facilities, are expected to contribute to the growth of the global market during the forecast period.

Key market trends
Clinical Testing, By Application, Is Expected To Have The Largest Market Share In Lateral Flow Assay Market

The pandemic has dramatically increased launches and research in the field of clinical trials, bolstering the growth of the segment. Roche launched in September 2020 a rapid SARS-CoV-2 antigen test for markets accepting CE marking. The SARS-CoV-2 rapid antigen test is intended for use in healthcare settings for symptomatic and asymptomatic people. In October 2020, Access Bio launched the COVID-19 lateral flow antigen test, the US FDA approved the product to detect SARS-CoV-2 infections.

The clinical testing segment is expected to hold the largest market share in the LFA market due to its importance in identifying disease detection with increasing incidence of infectious diseases. According to the World Health Organization, World Tuberculosis Report 2020, around 1.4 million people died from tuberculosis-related diseases in 2019 and nearly 10 million people developed tuberculosis in 2019. As a result, The increasing burden of tuberculosis is expected to result in the need for rapid intervention and affordable diagnostics, especially in developing countries, which contributes to the growth of the studied market.

The increased demand for the segment is driven by an increase in new approvals of self-testing devices, such as Atomo HIV Self-Test, TRUSTline HIV-Ab / Ag 4th Gen Rapid Test, Dr Trust Hiv Sure, and others being developed. in the last few years. These self-test devices and kits help patients with insurance, earlier diagnosis, increased convenience and ease of use, which are likely to fuel the market.

North America dominates the market and is expected to do the same during the forecast period

North America is expected to dominate the overall LFA market throughout the forecast period owing to an increase in the incidence of various infectious diseases such as Lyme disease, tuberculosis and associated increased death rate. HIV / AIDS in the region. In North America, the United States holds the largest market share due to increasing number of patients and high accessibility with increasing disposable income.

The pandemic has hit the region very hard and has forced the government to implement mass screening programs, spurring market growth in the region. In 2020, Abbott Laboratories stepped up production of coronavirus test kits, including a new tool that could enable mass screening for Covid-19. The company announced that it was developing the fourth diagnostic test for the coronavirus: a “lateral flow” blood test that could provide mass tests to the general population.

According to the US Department of Health and Human Services report released in January 2020, approximately 37,832 people in the United States were diagnosed with HIV in 2018, and 38,000 new HIV infections are still occurring in the United States. It has also been reported that there is a rapid spread of various infectious diseases such as meningitis, urinary tract infections requiring immediate diagnosis demanding the rapid diagnostic test devices supplying the market. Besides, increased adoption rate of advanced infrastructure, volume of diagnostic centers, increased awareness of the population are estimated factors to boost the market in the region, contributing to its outstanding revenue share of the global market during the forecast period.

Competitive landscape
The LFA market is moderately competitive and consists of several major players. Some companies are strengthening their market position by adopting various strategies, such as mergers and acquisitions, while others are developing new diagnostic testing methods and introducing new products to maintain their market share. For example, in February 2019, Abbott announced the availability of its latest rapid diagnostic influenza test (RIDT), BinaxNOW Influenza A & B Card 2, which was granted under the Clinical Laboratory Improvements Amendments (CLIA) by the United States Food and Drug Administration (FDA) for the early detection of the influenza virus, which is expected to have a positive impact on the market. Some of the companies that currently dominate the market are Abbott Laboratories, Hologic Inc., Quidel Corporation, PerkinElmer Inc. and bioMérieux SA.

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