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Immunochromatography Kits Market Will Grow at a CAGR of 4.1% to Reach a Worth of US$ 12.1 Bn by year 2032-end Amid Increased Prevalence of Chronic and Infectious Diseases | Future Market Insights, Inc.

Growing geriatric population, rising burden of chronic and infectious diseases, and growing awareness regarding point-of-need diagnostics, are some of the key trends in this Immunochromatography Kits Market. Europe Immunochromatography Kits Market is projected to grow with a CAGR of 4.0% during the forecast period.

/EIN News/ -- NEWARK, Del, Nov. 21, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights' most recent industry report, the Global Immunochromatography Kits Market is estimated to be valued at approximately US$ 8.1 Bn in 2022 and is expected to rise at a CAGR close to 4.1% over the forecast period, with an anticipated worth of around US$ 12.1 Bn in 2032.

The immunochromatography assay (ICA), also known as the lateral flow test, is a simple device that detects the presence or absence of a target analyte. Immuno-chromatography combines immunochemical reactions with chromatography, which is the separation of sample components based on changes in how they pass through a sorbent. The immunochromatography kits are the most widely used immunochromatography system.

The rising frequency of various infectious diseases is the main driver of the market for immunochromatography kits. Government attempts to improve healthcare systems by boosting the capacity of fast testing for initial screening and upgrading healthcare infrastructure are also a significant driver of market expansion. The market for immunochromatography kits is expanding due to rising consumer demand for easy-to-use home testing kits that can provide quick and precise results.

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Globally, the market for immunochromatography kits is expanding as a result of an increase in the number of government-approved testing facilities and private points of care. Additionally, immunochromatography kits use cutting-edge technologies and are based on immunoassay or chromatography, which provides quick findings. Such rapid test kits are now much more in demand.

To stop the spread of COVID-19, governments in the majority of nations have instituted rigorous pathogen testing. Immunochromatography kits sales are likely to expand over the forecast period as medical companies, mostly diagnostic service providers, solidify their position within the industry.

Key Takeaways from Market Study

  • Kits are the leading segment as product, and hold approximately 72.7% market share in 2021. Growing demand for point-of-care diagnostic devices further compliments the market share for the kits segment, globally.
  • Infectious diseases, segmented by application, hold a market share of around 34.5% in 2021, owed to the advent of the COVID-19 pandemic, and the associated measures to prevent, detect, and manage infection proliferation.
  • By distribution channel, hospital pharmacies account for around 36.5% of the global market share in 2021, owing to the use of immunochromatography kits for rapid identification of pathogen for further disease monitoring in patients.
  • North America is considered as the leading region with a value US$ 3.2 Bn in 2021, owing to the high prevalence of disease and large demand for at-home testing kits.

Rapidly ageing population, growing demand for point-of-need diagnostics, and rising government initiatives for infection prevention and control, are factors propelling demand within the global immunochromatography kits industry, says an analyst of Future Market Insights.

Market Competition

Key competitors in the global immunochromatography kits market adopt several strategies for product development and its adoption, including receiving emergency use authorization by regulatory bodies. Moreover, with the threat of infection spread due to the global COVID-19 pandemic, several competitors have reflected the SARS-COV2 antigen detection within their product range.

Key developmental instances include:

  • Beckman Coulter Inc., a manufacturer of laboratory equipment for Danaher Corp., received emergency use approval from the US Food and Drug Administration in October 2020 for its COVID-19 antibody test.
  • BioMérieux announced in May 2022 that its automated tests for diagnosing Chikungunya virus (CHIKV) infection on immunoassay instruments from the VIDAS® line have received CE marking.

Browse Full Report@ https://www.futuremarketinsights.com/reports/immunochromatography-kits-market

Key Market Segments Covered in Immunochromatography Kits Industry Research

By Product:

  • Readers
  • Kits

By Application:

  • Sexually Transmitted Diseases
  • Infectious Diseases
  • Diabetes
  • Pregnancy Testing
  • Drug of 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)

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the immunochromatography kits market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global immunochromatography kits market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the product (readers, and kits), application (sexually transmitted diseases, infectious diseases, diabetes, pregnancy testing, drug of abuse testing, and others), and distribution channel (hospital pharmacies, retail pharmacies, supermarket/hypermarket, and e-commerce), across seven key regions of the world.

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

    2.3. Inclusions and Exclusions

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.  
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Suite 401, Newark, Delaware - 19713, USA  
T: +1-845-579-5705  
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