The global immunochromatography kits market, currently valued at an impressive USD 8.1 billion, is poised for remarkable growth, projected to soar to USD 12.1 billion by 2032. This trajectory, boasting a CAGR of 4.1% from 2022 to 2032, underscores the indispensable role of immunochromatography kits in modern healthcare.
Despite significant advancements in medicine and sanitation, the persistent threat of infectious diseases remains a critical concern. While non-communicable diseases often dominate public health discussions, infectious diseases continue to pose a significant challenge worldwide. However, within these challenges lie substantial opportunities, particularly in emerging economies where the adoption of immunochromatography kits is accelerating. This growth is driven by increased awareness and recognition of the efficacy of lateral flow assays.
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Immunochromatography kits have become a cornerstone in the fight against infectious diseases, providing rapid, reliable diagnostics that are crucial for timely intervention and treatment. As healthcare systems worldwide continue to grapple with the complexities of both communicable and non-communicable diseases, the demand for efficient diagnostic tools like immunochromatography kits is more pressing than ever.
The robust growth forecasted for the immunochromatography kits market reflects not only the ongoing need for effective diagnostic solutions but also the increasing investment in healthcare infrastructure in emerging markets. As awareness of the benefits of lateral flow assays expands, these kits are becoming more integral to healthcare strategies globally.
The immunochromatography kits market is set to experience substantial growth, driven by the relentless pursuit of better healthcare outcomes and the continuous threat posed by infectious diseases. With a projected market value of USD 12.1 billion by 2032, the future of immunochromatography kits is bright, promising significant advancements in the diagnostic landscape.
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Key Takeaways from Immunochromatography Kits Market:
- North America holds the largest market share with the US being subject to easy accessibility to technologically improvised diagnostic tools and growing demand for diagnostics through increase in incidences of cancer.
- Coming to Europe, Germany dominates the market due to players like Qiagen pushing for more than 20% of the market share.
- The Asia-Pacific is led by China. This could be credited to growing geriatric population due to prevalence of infectious diseases all across.
Competitive Assay:
- Ortho Clinical Diagnostics, in December 2021, inked an agreement of acquisition with Ortho Clinical Diagnostics for massively expanding the offering of diagnostics.
- Abbott, in January 2021, did receive a CE mark for Panbio rapid antigen test, thereby allowing its usage for self-administered sample collection and asymptomatic screening through nose swab.
- Roche Diagnostics, in September 2020, did launch SARS-CoV-2 Rapid Antigen test.
- Sofia 2 Flu + SARS Antigen FIA (Quidel Corporation), BD Veritor SARS CoV-2 Test (BD), and Rapid Covid-19 Antigen test (Danaher Corporation) were launched at the time of pandemic.
- Abbott Laboratories, in August 2020, inked an agreement with the US government for 150 Mn home-based BinaxNOW Covid-19 tests.
“The basic purpose of immunochromatography kits is that of identifying if target analyte (like an antibody or antigen) is present or not in a sample in cost-effective and timely manner”, says an analyst from Future Market Insights.
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What does the Report get into?
- The research study is based on product (readers and kits), by application (sexually transmitted diseases, infectious diseases, diabetes, pregnancy testing, drug of abuse testing, and likewise), and by distribution channel (hospital pharmacies, retail pharmacies, hypermarket/supermarket, and e-Commerce).
- With increase in awareness that immunochromatography assay or lateral flow test simplifies the task of determining of target analyte is missing or present is bound to take the immunochromatography kits market to greater strides in the years to come.
Key Companies Profiled:
- Abbott Laboratories
- PerkinElmer Inc.
- Danaher Corporation
- Bio-rad Laboratories
- F. Hoffmann-La Roche AG
- bioMérieux SA
- Becton, Dickinson, and Company
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
- QIAGEN
Key Market Segments Covered in Immunochromatography Kits Industry Research:
By Product:
- Readers
- Kits
By Application:
- Sexually Transmitted Diseases
- Infectious Diseases
- Diabetes
- Pregnancy Testing
- Drug Abuse Testing
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Supermarket/Hypermarket
- E-Commerce
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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