Lateral Flow Readers Market by Type (Handheld Readers, Benchtop Readers), Application (Clinical (POC), Veterinary, Food and Beverage, Pharma/Biologics), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

  • Publish Date: Mar, 2020
  • Report ID: 417829
  • Category: Medical Devices
  • Pages: 195
$4700

The global lateral flow readers market is expected to grow from USD 579.35 million in 2019 to USD 781.36 million by 2027, at a CAGR of 3.80% during the forecast period from 2020-2027.

Lateral flow readers use the unique wavelength of light for illumination with the detection technologies such as CMOS or CCD, to offer the fully quantitative assay results. It is commonly used for the detection of the presence or absence of pathogens or biomarkers in unhygienic water, human, foods, or animals. It is frequently used in human health for point of care testings.

Increasing demand for rapid diagnostics across the globe, driving the growth of lateral flow readers market. The rising trend of early and fast diagnostics has led to the development of advanced technologies such as lateral flow readers. In addition to this, the increasing trends of generating real-time results, further boosting the growth of the market. However, limited applications of lateral flow readers can hinder the growth of the market.

This study delivers a comprehensive analysis of type, application, and region. The type segment includes handheld readers and benchtop readers. Benchtop readers segment dominated the market and held the major market share of 68.66% in the year 2019. Increasing usage of benchtop readers in the hospitals, clinics, and diagnostics laboratories, boosting the growth of this segment. In addition to this, the high prices of these devices, as compared to the handheld readers, contribute more to the revenue of the market. Application segment classified into clinical (POC), veterinary, food and beverage, pharma/biologics, and others. The food and beverage segment is anticipated to grow at the highest CAGR of 4.31% over the forecast period. User-friendly and sensitive detection methods are crucial for pathogen and contamination detection in the food industry, to provide safe food and to ensure consumer safety. Lateral flow readers offer real-time and cost-effective solutions for the food and beverage industry, thus propelling the growth of the market over the forecast period.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America accounted for the major market share of 35.65% in the year 2019. The growth is mainly attributed to high awareness about food safety among the consumers. In addition to this, the early adoption of advanced technologies and the presence of key players in the region, further driving the growth of lateral flow readers market in the North America region.

Some of the prominent players in the lateral flow readers market are Abbott Laboratories, QIAGEN, LRE Medical(Esterline), BD, Skannex AS, Axxin, Detekt Biomedical LLC, Lumos Diagnostics, BBI Solutions, Trinity Biotech, and Quidel Corporation among others. Major players are continuously focused on strategic partnerships, new developments, acquisitions, and venture capital investments to obtain high growth to gain a significant share in the market. In March 2019, Abbott Laboratories announced that its latest rapid influenza diagnostic test (RIDT), BinaxNOW Influenza A & B Card 2, the lateral-flow flu test + diagnostic reader, has been approved by the U.S. Food and Drug Administration (FDA).

This study forecasts revenue growth at global, regional, and country levels from 2013 to 2027. Fior Markets has segmented the on the basis of below-mentioned segments:

  • Global Lateral Flow Readers Market Analysis And Forecast, By Type
    • Handheld Readers
    • Benchtop Readers
  • Global Lateral Flow Readers Market Analysis And Forecast, By Application
    • Clinical (POC)
    • Veterinary
    • Food and Beverage
    • Pharma/Biologics
    • Others
  • Global Lateral flow readers Market Analysis And Forecast, By Regional Analysis
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Sweden
      • Netherland
      • U.K.
      • Italy
      • Spain
      • Turkey
      • Switzerland
      • Belgium
      • Rest Of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Australia
      • Singapore
      • Malaysia
      • Thailand
      • Indonesia
      • Philippines
      • Rest Of APAC
    • South America
      • Brazil
      • Argentina
      • Peru
      • Colombia
      • Rest Of South America
    • Middle East And Africa
      •  UAE
      •  Saudi Arabia
      •  Egypt
      •  Nigeria
      •  South Africa
      • Rest of MEA

Chapter 1 Introduction 18
    1.1 Research Methodology 18
    1.2 FMR desk research 19
          1.2.1 FMR data synthesis 20
          1.2.2 Data validation and market feedback 21
          1.2.3 FMR data sources 21
 

Chapter 2 Global Lateral Flow Readers Market Overview 24
    2.1 Product Overview and Scope of Lateral Flow Readers 24
    2.2 Lateral Flow Readers Market Segment by Type 28
          2.2.1 Handheld Readers 28
          2.2.2 Benchtop Readers 28
    2.3 Global Lateral Flow Readers Segment by Types 29
          2.3.1 Global Lateral Flow Readers Sales Comparison by Type (2013-2027) 29
          2.3.2 Global Lateral Flow Readers Revenue and Market Share by Types (2013-2018) 33
          2.3.3 Global Lateral Flow Readers Price by Types (2013-2018) 36
    2.4 United States Lateral Flow Readers Segment by Types 37
          2.4.1 United States Lateral Flow Readers Sales Comparison by Type (2013-2027) 37
          2.4.2 United States Lateral Flow Readers Sales and Market Share by Types (2013-2018) 37
          2.4.3 United States Lateral Flow Readers Revenue and Market Share by Types (2013-2018) 40
          2.4.4 United States Lateral Flow Readers Price by Types (2013-2018) 42
 

Chapter 3 Global Lateral Flow Readers Segment by Applications 43
    3.1 Lateral Flow Readers Segment by Application/End Users 43
          3.1.1 Clinical (POC) 43
          3.1.2 Veterinary 43
          3.1.3 Food and Beverage 44
          3.1.4 Pharma/Biologics 44
          3.1.5 Other 44
    3.2 Global Lateral Flow Readers Segment by Application 45
          3.2.1 Global Lateral Flow Readers Sales Comparison by Application (2013-2027) 45
          3.2.2 Global Lateral Flow Readers Sales and Market Share by Application (2013-2018) 46
    3.3 United States Lateral Flow Readers Segment by Application 49
          3.3.1 United States Lateral Flow Readers Sales and Market Share by Application (2013-2018) 49
 

Chapter 4 Lateral Flow Readers Market Status and Outlook by Regions 52
    4.1 Market Analysis by Regions 52
          4.1.1 Global Lateral Flow Readers Market Size and Growth Rate Comparison by Regions 52
          4.1.2 North America 53
          4.1.3 Europe 54
          4.1.4 Asia Pacific 55
          4.1.5 South America 56
          4.1.6 Middle East 57
          4.1.7 United States 58
    4.2 Global Lateral Flow Readers Segment by Region 59
          4.2.1 Global Lateral Flow Readers Sales and Market Share by Region (2013-2018) 59
          4.2.2 Global Lateral Flow Readers Revenue and Market Share by Region (2013-2018) 63
          4.2.3 Global Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 66
          4.2.4 North America Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 67
          4.2.5 Asia Pacific Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 67
          4.2.6 Europe Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 68
          4.2.7 South America Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 68
          4.2.8 Middle East Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 69
 

Chapter 5 Company Global Lateral Flow Readers Market Competition by Manufacturers 70
    5.1 Global Lateral Flow Readers Sales and Share by Manufacturers (2013-2018) 70
    5.2 Global Lateral Flow Readers Revenue and Share by Manufacturers (2013-2018) 73
    5.3 Global Lateral Flow Readers Average Price by Manufacturers (2013-2018) 76
    5.4 Manufacturers Lateral Flow Readers Manufacturing Base Distribution, Sales Area, Product Types 77
    5.5 Lateral Flow Readers Market Competitive Situation and Trends 78
          5.5.1 Lateral Flow Readers Market Share (%) Top 6 Manufacturers 78
          5.5.2 Mergers & Acquisitions, Expansion 79
 

Chapter 6 United States Lateral Flow Readers Market Competition by Manufacturers 81
    6.1 United States Lateral Flow Readers Sales and Share by Manufacturers (2013-2018) 81
    6.2 United States Lateral Flow Readers Revenue and Share by Manufacturers (2013-2018) 84
    6.3 United States Lateral Flow Readers Average Price by Manufacturers (2013-2018) 87
    6.4 Lateral Flow Readers Market Share (%) Top 5 Manufacturers 88
 

Chapter 7 Lateral Flow Readers Company Profiles and Sales Data 89
    7.1 Abbott Laboratories 89
          7.1.1 Company Details 89
          7.1.2 Lateral Flow Readers Product Offered by Abbott Laboratories 90
          7.1.3 Abbott Laboratories Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 90
          7.1.4 Business overview 91
    7.2 QIAGEN 92
          7.2.1 Company Details 92
          7.2.2 Lateral Flow Readers Product Offered by QIAGEN 93
          7.2.3 Business overview 94
    7.3 LRE Medical(Esterline) 95
          7.3.1 Company Details 95
          7.3.2 Lateral Flow Readers Product Offered by LRE Medical(Esterline) 96
          7.3.3 Business overview 96
    7.4 BD 97
          7.4.1 Company Details 97
          7.4.2 Lateral Flow Readers Product Offered by BD 98
          7.4.3 BD Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 99
          7.4.4 Business overview 99
    7.5 Skannex AS 100
          7.5.1 Company Details 100
          7.5.2 Lateral Flow Readers Product Offered by Skannex AS 101
          7.5.3 Business overview 102
    7.6 Axxin 103
          7.6.1 Company Details 103
          7.6.2 Lateral Flow Readers Product Offered by Axxin 104
          7.6.3 Business overview 104
    7.7 Detekt Biomedical LLC 105
          7.7.1 Company Details 105
          7.7.2 Lateral Flow Readers Product Offered by Detekt Biomedical LLC 106
          7.7.3 Business overview 106
    7.8 Lumos Diagnostics 107
          7.8.1 Company Details 107
          7.8.2 Lateral Flow Readers Product Offered by Lumos Diagnostics 108
          7.8.3 Business overview 109
    7.9 BBI Solutions 110
          7.9.1 Company Details 110
          7.9.2 Lateral Flow Readers Product Offered by BBI Solutions 111
          7.9.3 Business overview 112
    7.10 Trinity Biotech 113
          7.10.1 Company Details 113
          7.10.2 Lateral Flow Readers Product Offered by Trinity Biotech 114
          7.10.3 Trinity Biotech Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 114
          7.10.4 Business overview 115
    7.11 OpTricon GmbH 116
          7.11.1 Company Details 116
          7.11.2 Lateral Flow Readers Product Offered by OpTricon GmbH 117
          7.11.3 OpTricon GmbH Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 118
          7.11.4 Business overview 119
    7.12 Quidel Corporation 120
          7.12.1 Company Details 120
          7.12.2 Lateral Flow Readers Product Offered by Quidel Corporation 121
          7.12.3 Quidel Corporation Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 122
          7.12.4 Business overview 123
    7.13 Abingdon Health 124
          7.13.1 Company Details 124
          7.13.2 Lateral Flow Readers Product Offered by Abingdon Health 125
          7.13.3 Abingdon Health Lateral Flow Readers Sales, Revenue, Price and Gross Margin (2013-2018) 126
          7.13.4 Business overview 127
    7.14 Fio Corporation 128
          7.14.1 Company Details 128
          7.14.2 Lateral Flow Readers Product Offered by Fio Corporation 129
          7.14.3 Business overview 129
    7.15 Magnasense Technologies 130
          7.15.1 Company Details 130
          7.15.2 Lateral Flow Readers Product Offered by Magnasense Technologies 131
          7.15.3 Business overview 132
    7.16 VICAM 133
          7.16.1 Company Details 133
          7.16.2 Lateral Flow Readers Product Offered by VICAM 134
          7.16.3 Business overview 135
    7.17 HUMASIS 136
          7.17.1 Company Details 136
          7.17.2 Lateral Flow Readers Product Offered by HUMASIS 137
          7.17.3 Business overview 138
    7.18 NOW Diagnostics 139
          7.18.1 Company Details 139
          7.18.2 Lateral Flow Readers Product Offered by NOW Diagnostics 140
          7.18.3 Business overview 141
 

Chapter 8 Lateral Flow Readers Manufacturing Cost Analysis 142
    8.1 Lateral Flow Readers Key Raw Materials Analysis 142
          8.1.1 Key Raw Materials 142
          8.1.2 Price Trend of Key Raw Materials 144
          8.1.3 Key Suppliers of Raw Materials 147
    8.2 Proportion of Manufacturing Cost Structure 148
          8.2.1 Labor Cost 149
                   8.2.1.1 USA Labor Cost Analysis 149
 

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers 153
    9.1 Lateral Flow Readers Industrial Chain Analysis 153
    9.2 Upstream Raw Materials Sourcing 154
    9.3 Raw Materials Sources of Lateral Flow Readers Major Manufacturers in 2017 155
    9.4 Downstream Buyers 156
 

Chapter 10 Marketing Strategy Analysis, Distributors 157
    10.1 Marketing Channel 157
          10.1.1 Direct Marketing 158
          10.1.2 Indirect Marketing 160
    10.1 Market Positioning 160
          10.1.1 Marketing Channel Future Trend 161
          10.1.2 Pricing Strategy 162
          10.1.3 Brand Strategy 164
    10.2 Distributors/Traders List 166
 

Chapter 11 Global Lateral Flow Readers Market Forecast 167
    11.1 Global Lateral Flow Readers Sales, Revenue Forecast (2018-2027) 167
          11.1.1 Global Lateral Flow Readers Sales (Thousand Units) and Growth Rate (%) Forecast (2018-2027) 167
          11.1.2 Global Lateral Flow Readers Revenue and Growth Rate Forecast (2018-2027) 168
    11.2 United States Lateral Flow Readers Sales, Revenue Forecast (2018-2027) 169
          11.2.1 United States Lateral Flow Readers Sales (Thousand Units) and Growth Rate (%) Forecast (2018-2027) 169
          11.2.2 United States Lateral Flow Readers Revenue and Growth Rate Forecast (2018-2027) 170
    11.3 Global Lateral Flow Readers Sales Forecast by Regions 171
          11.3.1 North America Lateral Flow Readers Sales, Revenue Forecast (2018-2027) 173
          11.3.2 Europe Lateral Flow Readers Sales, Revenue, Forecast (2018-2027) 175
          11.3.3 Asia Pacific Lateral Flow Readers Sales, Revenue, Forecast (2018-2027) 177
          11.3.4 South America Lateral Flow Readers Sales, Revenue, Forecast (2018-2027) 179
          11.3.5 Middle East and Africa Lateral Flow Readers Sales, Revenue, Forecast (2018-2027) 181
    11.4 Lateral Flow Readers Sales, Revenue Forecast by Type 183
          11.4.1 Global Lateral Flow Readers Sales and Revenue Forecast by Type (2018-2027) 183
          11.4.2 United States Lateral Flow Readers Sales, Revenue Forecast by Type 187
    11.5 Lateral Flow Readers Forecast by Application (2018-2027) 191
          11.5.1 Global Lateral Flow Readers Sales Forecast by Application (2018-2027) 191
          11.5.2 U.S Lateral Flow Readers Forecast by Application (2018-2027) 193
 

Chapter 12 Research Findings and Conclusion 195


1

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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