Immunochromatography Kits Market is projected to reaching US$ 12.1 Billion by 2032 at a CAGR of 4.1%
The global Immunochromatography Kits Market stands at US$ 8.1 Bn as of now and is expected to reach US$ 12.1 Billion by the year 2032 at a CAGR of 4.1% between 2022 and 2032.
The fact that infectious diseases continue to spread in spite of noteworthy enhancements in medicine and sanitation can’t be ignored. Even though non-communicable ailments are amongst the leading causes of mortality and morbidity, the infectious diseases do stay a basic concern. The developing economies do have lucrative opportunities to adopt immunochromatography kits, especially with growing awareness about importance of lateral flow assays in these regions.
Also, the recent outbreaks of diseases like H1N1, Ebola, and Zika have made it inevitable to detect the diseases on an early note. The Covid era made this detection indispensable.
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These days, home-based lateral flow assay devices do play an important role with respect to managing infectious and cardiovascular diseases. The devices help to test pregnancy as well as stigmatized conditions like HIV as they do empower patients for performing self-tests at homes. The pandemic prompted companies to be on the toes in this regard.
Hepatitis B is another ailment that needs to be controlled. As per the WHO’s bulletin (2018), over 257 Mn people worldwide are suffering from Hepatitis B. Also, around 9 Mn people have succumbed to hepatocellular carcinoma, liver failure, cirrhosis of liver, and various other diseases related to Hepatitis B.
The serological marker most widely used for diagnosis, screening, and evaluation of the antiviral therapy for Hepatitis B is Hepatitis B surface antigen (HBsAg) (HBV’s envelope protein). Advantages like low cost, simple use, and quicker turnaround time have compelled healthcare personnel to use immunochromatography kits in HBV screenings that include medical checks, self-examinations, and epidemiologic surveys.
This method also helps in determination of oncogenesis and detecting cancer in every form; inclusive of malignant and benign cancer.
The future is slated to belong to complex immunoassay techniques like ELISA and radioimmunoassay instead of sensitive, precise, and quick approaches.
To diagnose parasitic infections like leishmaniasis, parasite protozoa, trypanosomiasis, filariasis, toxoplasmosis, trichomoniasis, and numerous ICTs are being developed. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Immunochromatography Kits Market’. The team of analysts and consultants has employed every bit of research including primary, secondary, and tertiary to execute.
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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.
- 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.
Key Market Segments Covered in Immunochromatography Kits Industry Research:
- Sexually Transmitted Diseases
- Infectious Diseases
- Pregnancy Testing
- Drug Abuse Testing
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By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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