Market Dynamics Changing with Increasing Lateral Flow Assay Need, says Market.us
Lateral flow assays (LFA), also known as lateral flow immunochromatographic assays, are techniques used to detect the presence (or absence) of a target analyte in a sample (matrix). These assays can be used in hospitals and clinical labs for the quantitative and qualitative detection of specific antibodies and antigens.
The lateral flow kits can be used to quickly test for infections, cardiac markers, and pregnancy & fertility. They also allow you to determine if there is any drug abuse. These kits can also be used to test food and beverages.
According to the latest report by Market.us, “The global lateral flow assay markets were valued at 12.52 billion in 2022. By 2032, they will reach 16.98 billion. This represents a CAGR of 3.1% between 2022 and 2032.”
Gaurav Yadav, a senior research analyst at Market.us, said, “The lateral flow market’s growth is driven by many factors, including the spread of infectious diseases and home-based lateral flows assay kits, government initiatives to promote health awareness, increased demand for point-of-care testing, and increase in the adoption of LFA as a result of innovations and the advantages of LFA rapid tests over lab tests.”
The recent COVID-19 outbreak has also positively impacted the market for lateral flow assays. The market’s growth is hampered by the stringent regulatory policies that are time-consuming and difficult to perform analyte detections and people’s unwillingness to change their medical practices. The lateral flow market is poised to grow with technological advancements and the increased use of lateral flow tests in clinical diagnostics.
Lateral flow assays are immunochromatographic tests that detect the presence and absence of target analytes in humans or animals, such as pathogens or biomarkers. These cellulose-based devices detect the presence of a target element in a liquid sample and do not require expensive or specialized equipment. These devices do not require expensive or high-tech equipment. However, many lab-based applications can be used with the equipment. Human medicine uses lateral flow tests extensively. They are used for medical diagnostics at home, point of care, and laboratory testing.
The most popular and well-known use of lateral flow tests is for home pregnancy testing. However, lateral flow kits can also be used to detect animal diseases, and pollution in water and animal feed, among other things. A lateral flow test strip includes a sample pad, conjugate, reagent pad, reaction pad, and wick.
These kits can be used to quickly test for diseases such as heart disease, drug abuse, pregnancy & fertility, cholesterol testing/lipid profiling, and other cardiac markers. They can also be used to test food and beverages.
Market growth in lateral flow assays is driven by many factors, including the spread of infectious diseases and increasing use of home-based lateral flows assay kits, government initiatives to promote health awareness, growing demand and increasing adoption of LFA, innovations, and the advantages LFA rapid tests have over laboratory tests.
The home pregnancy test is a well-known example of lateral flow technology. It detects pregnancy hormones and gives a binary result. Home-based lateral flow instruments are becoming more popular due to their portability, low production costs, quick findings, and ease of use. The quality of care is improved by lateral flow assay-based point-of-care testing. This is due to lower costs, fewer doctor visits, and lower laboratory overhead costs.
Technological advancement is bringing about functional improvements in lateral-flow tests in terms of selectivity, sensitivity, and quantification. Test readers from manufacturers are widely used to assess the strength of a test line. Their popularity has increased with the increasing mobility and downsizing of portable lateral flow readers. Technological developments are driving innovations in lateral flow assay testers. They use distinct wavelengths to illuminate samples and have diverse sample detection systems. These include either CMOS, CCD, or CMOS detecting technologies.
The development of sophisticated image processing tools that are specific to test results has made it easier to quantify sample analytes. Because these kits are so easy to use, the Lateral Flow Assay Market will grow. Other non-optical methods, such as Magnetic Immunoassay, MIA, and capillary pumping to reduce variance in sample volume, are also gaining popularity.
However, they are not suitable for primary screening at point-of-care. They have several drawbacks. For example, the incorrect sample volume can affect the accuracy of the result. This limits the test’s total volume and provides a sensitivity limit. The analysis time is also dependent on the type of sample. The Global Lateral Flow Assay Market will be limited by strict regulation and variation in test results.
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