Abbott Laboratories announced the launch of a new lateral flow antigen test called the BinaxNOW COVID-19 Ag Card home test. This test is intended for non-prescription, and over-the-counter use, and provides results in 15 minutes. It is the first COVID-19 test authorized for non-prescription use by the US Reel and Drug Administration (FDA).
Becton, Dickinson, and Company: SD announced the acquisition of a lateral now and clinical diagnostics company, Infiammatix. Inflammatix's technology enables rapid diagnosis and triage of patients with suspected infectious or inflammatory conditions. The acquisition is expected to enhance BD's diagnostic capabilities and expand its presence in the infectious disease market.
Author Credits: Radhika Gupta, Shivam Bhutani
Report ID: 4871
Published Date: Aug 07, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing prevalence of infectious diseases and spiking healthcare spending are some of the major factors anticipated to drive the growth of the lateral flow assays market.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 Ã¢â‚¬â€œ 2035.
The major players in the market are Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, F.Hoffmann-La Roche AG, QIAGEN N.V., Seimens Healthineers AG, Thermo Fisher Scientific, Inc., Merck kGaA, PerkinElmer Inc., and others.
The kits & reagent segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in Asia Pacific is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.