#vertinary

Meticulous Research®– leading global market research company published a research report titled “Lateral Flow Assays Market by Product (Kits, Readers), Technique (Sandwich, Competitive, Multiplex), Application (Clinical [Pregnancy, Infectious Diseases], Food Safety, Drug Development, Veterinary), and End User (Hospitals, Home Care) - Forecast to 2027.”

According to this latest publication from Meticulous Research®, the lateral flow assays market is expected to grow at a CAGR of 8.8% from 2020 to 2027 to reach $13.85 billion by 2027. The growth in the lateral flow assays market is mainly attributed to increasing healthcare expenditure, prevalence of various chronic & infectious diseases, growing aging population, increasing usage of home-based lateral flow assay kits, growing demand of PoC testing, the impact of COVID-19, and continuous advancements in lateral flow assay diagnostic techniques. However, implementation of excise duty on medical devices in the U.S., inadequate reimbursement policies for LFA-based rapid test diagnostics, lack of trained caretakers for efficient patient handling equipment, and variance & inconsistency in lateral flow assay test results are expected to hinder the growth of the market.

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Scope of the Report

Lateral Flow Assays Market, by Product

Digital/Mobile Readers

Benchtop Readers

Lateral Flow Assays Market, by Technique

Sandwich Assays

Competitive Assays

Multiplex Detection Assays

Lateral Flow Assays Market, by Application

Infectious Disease Testing

Cardiac Marker Testing

Pregnancy & Fertility Testing

Cholesterol Testing/Lipid Profile

Drug Abuse Testing

Other Clinical Tests

Lateral Flow Assays Market, by End User

Hospitals & Clinics

Diagnostic Laboratories

Home Care

Pharmaceutical & Biotechnology Companies

Other End Users

(Note: Other End Users Include Water Treatment Facilities and Food Processing Units)

Lateral Flow Assays Market, by Geography

U.S.

Canada

Germany

U.K.

France

Italy

Spain

Rest of Europe (RoE)

China

Japan

India

Rest of APAC (RoAPAC)

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Lateral Flow Assays Market: Future Outlook

The lateral flow assays market is segmented on the basis of Product [Kits & Reagents and Lateral Flow Readers (Digital/Mobile Readers and Benchtop Readers)], Technique [Sandwich Assays, Competitive Assays, and Multiplex Detection Assays], Application [Clinical Testing (Infectious Disease Testing, Cardiac Marker Testing, Pregnancy & Fertility Testing, Cholesterol Testing/Lipid Profile, Drug Abuse Testing, and Other Clinical Tests), Veterinary Diagnostics, Food Safety & Environment Testing and Drug Development & Quality Testing], End User [Hospitals & Clinics; Diagnostic Laboratories, Home Care, Pharmaceutical & Biotechnology Companies; and Other End Users] and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

Based on product, in 2020, the kits & reagents segment accounted for the largest share of the lateral flow assays market. The large share of this segment is mainly attributed to factors such as the increasing adoption of lateral flow assay-based test kits due to innovations and their benefits over laboratory tests; the increasing spread of various chronic and infectious diseases across the world; and the high number of lateral flow assay rapid detection kits being launched by healthcare companies mainly for COVID-19 testing.

Based on technique, in 2020, the sandwich assays segment accounted for the largest share of the market. The large share of this segment is mainly attributed to the evolving applications of sandwich assays in medical testing settings and the advantages of sandwich assays, such as higher sensitivity and specificity for larger analytes. Moreover, a large number of lateral flow assay-based companies are launching rapid detection kits based on the sandwich assay technique for COVID-19 testing, which is further expected to contribute to the growth of this segment.

Based on application, the clinical testing segment accounted for the largest share of the market in 2020. The large share of this segment is mainly attributed to the increasing healthcare expenditure across the world, rise in government initiatives promoting health awareness, growing awareness among people regarding clinical testing, and the rising prevalence of various chronic and infectious diseases worldwide. In addition, continuous advancements in lateral flow assays are also expected to contribute to the growth of this segment.

Based on end user, the hospitals & clinics segment accounted for the largest share of the market in 2020. Factors driving the growth of this segment are the increasing access to healthcare, economic growth, the rising prevalence of lifestyle diseases, and the impact of COVID-19.

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Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa.

Key Players

The key players operating in the lateral flow assays market are Abbott Laboratories (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson, and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Germany), PerkinElmer, Inc. (U.S.), Quidel Corporation (U.S.), and Merck KGAA (Germany).

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Key questions answered in the report-

Which are the high growth market segments in terms of product, technique, application, end-user, and region/countries?

What was the historical market for lateral flow assays across the globe?

What are the market forecasts and estimates for the period 2020-2027?

What are the major drivers, restraints, opportunities, and challenges in the global lateral flow assays market?

Who are the major players in the lateral flow assays market?

How is the competitive landscape, and who are the market leaders in the global lateral flow assays market?

What are the recent developments in the global lateral flow assays market?

What are the different strategies adopted by the major players in the global lateral flow assays market?

What are the geographical trends and high growth regions/countries?

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Veterinary Pain Management Market Key Players Revenue, Major Regions, Analysis and Forecasts to 2023

The veterinary pain management market was valued at USD 1000 million in 2017 and is expected to register a CAGR of 8.2% during the forecast period. The global veterinary pain management market is majorly driven by the increasing adoption of pets, increasing preventive treatments and care facilities for companion animals, increasing technically advanced devices, raising awareness regarding maintaining animal health and animal welfare, and growing penetration by market players. Additionally, factors such as the growing need for easy access to services and affordable veterinary drugs are likely to drive the market.

However, awareness regarding certain serious companion animal diseases is likely to hamper the growth of the market.

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Some of the key players in the veterinary pain management market are Boehringer Ingelheim, Zoetis, Chanelle, Dechra Pharmaceuticals, Ceva Santé Animale, Norbrook Laboratories, Vetoquinol, Bayer, Merck Animal Health, Elanco, and Assisi Animal Health.

Market Segmentation of Veterinary Pain Management Market:

The global veterinary pain management market is segmented on the basis of drug type, devices, route of administration, animal type, application, and end-user. Considering drug type, the market is segmented into nonsteroidal anti-inflammatory drugs, opioids, local anesthetics, α2-adrenergic agonists, muscle relaxants, sedatives, and corticosteroids. Nonsteroidal anti-inflammatory drugs are further sub-segmented into etodolac, fentanyl, and meloxicam. Opioids are further sub-segmented into morphine, hydromorphone, codeine, and others. Local anesthetics are further sub-segmented into bupivacaine, lidocaine, chloroprocaine, and others. α2-adrenergic agonists are further sub-segmented into xylazine, medetomidine, and others. By device, the market is segmented into laser therapy devices and electromagnetic therapy devices. Based on the route of administration, the market is segmented into oral, parenteral, and topical. With reference to animal type, the market is segmented into companion animals, livestock, research animals, aquatic animals, zoo animals, and exotic animals. Based on application it is segmented into joint pain, postoperative pain, and cancer. On account of end-user, the market is segmented into veterinary hospitals and clinics, research institutes, and universities and laboratories.

Regional Analysis of Veterinary Pain Management Market:

The Americas dominates the global veterinary pain management market due to the rising adoption of pets, increasing preventive treatments and care facilities for companion animals, increasing technically advanced devices, raising awareness regarding maintaining animal health and animal welfare, and growing penetration by market players. Additionally, factors such as the growing need for easy access to services and affordable veterinary drugs are likely to drive the market. According to a survey conducted by the National Pet Owners, in 2017, around 68% of families or households owned pets in the U.S. Additionally, according to the American Pet Products Association 69.4 billion was spent in pet healthcare expenditure in the U.S in 2016.

The European market is expected to grow at a strong growth rate during the forecast period owing to the availability of advanced treatment facilities and healthcare expenditure along with the growing pet adoption. Furthermore, increasing awareness and animal welfare are driving the growth of the veterinary pain management market. According to the European Pet Food Industry, in 2016, there were around 80 million households owning pets in Europe.

Asia Pacific is the fastest growing market for veterinary pain management whose growth is attributed to the increasing population adopting pets and the improved standard of living. Additionally, increasing healthcare spending is likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic and treatment services.

On the other hand, the Middle East and Africa is expected to witness slow growth due to limited access to healthcare and affordability issues among the population. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various veterinary ailments.

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Some of Major Table of Content for Veterinary Pain Management Market:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restrains

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

4.5 Macroeconomic Indicators