Global Lateral Flow POC Reader Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lateral Flow POC Reader Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The Lateral Flow POC Reader can detect and identify the complete lateral flow analysis, analyze the strength of test and control lines, and display the results on the screen.
The Lateral Flow POC Reader is designed to accommodate strips and cassette insert of different sizes and shapes. It can read different test lines in the same test strip. Usually equipped with radio frequency identification and data matrix reading functions, it can realize wireless network, Bluetooth and LAN connection, so as to interact with portable devices such as mobile phones or tablets, cloud, local network or Internet. It can be battery powered or mains powered.

Market Overview:

The latest research study on the global Lateral Flow POC Reader market finds that the global Lateral Flow POC Reader market reached a value of USD 1274.13 million in 2022. It’s expected that the market will achieve USD 1176.6 million by 2028, exhibiting a CAGR of -1.32% during the forecast period.

Covid-19 drives market demand


COVID-19 detection demand drives the market growth of Lateral Flow POC Reader. COVID-19 is highly contagious, and the number of infected people in the world is constantly increasing, and the demand for medical resources is constantly increasing. With the increasing demand of Covid-19 test, the Lateral Flow POC Reader plays an important role in reading covid-19 test results. The results of Lateral Flow POC Reader products are fast, and the sales volume of products is increasing in America and Europe where the epidemic situation is serious. The market demand of Lateral Flow POC Reader is mainly driven by downstream, and the increased demand also promotes the technical upgrading of Lateral Flow POC Reader products.


Intense market competition

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. Lateral Flow POC Reader market is facing severe market competition.

Price fluctuation of raw materials

With the influence of COVID-19 epidemic in various industries and the strict blockade and restriction measures of governments around the world, the market of Lateral Flow POC Reader has also been impacted to some extent. Due to the continuous blockade, the production and operation of factories in most countries are restricted, affecting all participants in the global value chain, including raw material suppliers of Lateral Flow POC Reader. Due to the interruption of supply chain, many manufacturers that depend on the supply of imported raw materials from abroad are increasing the cost of raw materials. In the past two years, the prices of electronic components and display screens have fluctuated and increased. In the production cost of Lateral Flow POC Reader, the cost of raw materials accounts for the vast majority, and the fluctuation of the price of raw materials will directly affect the profits of enterprises.

Region Overview:

On the basis of region, North America is projected to grow at the highest rate, taking up 39.53% of the market share in 2027.

Company Overview:

Abbott is one of the major players operating in the Lateral Flow POC Reader market, holding a share of 32.67% in 2021.

Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Abbott portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritional and branded generic medicines. Abbott 109,000 colleagues serve people in more than 160 countries.

Quidel Corporation

Quidel Corporation (Nasdaq: QDEL) is a California-based leading diagnostic healthcare manufacturer serving to enhance the health and well-being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system.

Segmentation Overview:

By type, Benchtop Readers segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Infectious Disease Testing, with a market share of 63% in 2021.

The lateral flow POC reader is a universal mobile analysis device, which is used for qualitative and quantitative analysis of lateral flow detection and immunological rapid test of instant diagnosis. Tests mainly include probability & fertility testing, Infectious Disease Testing, Cardiac Marker Testing, Cholesterol & Lipid Testing, Drugs-of-Abuse Testing and so on. The Lateral Flow POC Reader usually has the detection function of one or more tests.

Key Companies in the global Lateral Flow POC Reader market covered in Chapter 3:

Chembio Diagnostics
NOW Diagnostic
Quidel Corporation
Buhlmann Laboratories
LRE Medical
Abbott
Abingdon
Detekt Biomedical
Axxin
Ellume
LumiraDx
Fio Corporation
Magnasense
Lumos Diagnostics
DIALUNOX (QIAGEN)
BD Company

In Chapter 4 and Chapter 14.2, on the basis of types, the Lateral Flow POC Reader market from 2018 to 2029 is primarily split into:

Digital/Mobile Readers
Benchtop Readers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lateral Flow POC Reader market from 2018 to 2029 covers:

Pregnancy & Fertility Testing
Infectious Disease Testing
Cardiac Marker Testing
Cholesterol & Lipid Testing
Drugs-of-Abuse Testing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)