Australia Lateral Flow Assays Market Size & Outlook
Australia lateral flow assays market, 2018-2030 (US$M)
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Australia lateral flow assays market highlights
- The Australia lateral flow assays market generated a revenue of USD 203.5 million in 2023 and is expected to reach USD 292.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 5.3% from 2024 to 2030.
- In terms of segment, kits & reagents was the largest revenue generating product in 2023.
- Kits & Reagents is the most lucrative product segment registering the fastest growth during the forecast period.
Lateral flow assays market data book summary
| Market revenue in 2023 | USD 203.5 million |
| Market revenue in 2030 | USD 292.9 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Kits & Reagents |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Lateral Flow Readers |
| Key market players worldwide | Abbott Laboratories, Thermo Fisher Scientific Inc, Roche, Bio-Rad Laboratories Inc, BioMerieux SA, QuidelOrtho Corp, Hologic Inc, PerkinElmer, Merck KGaA, BD, Siemens Healthineers AG ADR, Danaher Corp, Qiagen NV |
Other key industry trends
- In terms of revenue, Australia accounted for 2.0% of the global lateral flow assays market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China lateral flow assays market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 598.6 million by 2030.
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Lateral Flow Assays Market Scope
Lateral Flow Assays Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia lateral flow assays market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lateral flow assays market will help companies and investors design strategic landscapes.
Kits & reagents was the largest segment with a revenue share of 66.93% in 2023. Horizon Databook has segmented the Australia lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in government initiatives to provide rapid diagnostic tests at affordable prices to diabetics is anticipated to fuel market growth during the forecast period. The Australian Department of Health has a National Diabetes Services Scheme that provides blood glucose test strips, syringes, needles, insulin pump consumables, and glucose monitoring products at subsidized prices for patients diagnosed with diabetes.
The increase in such government initiatives is expected to boost market growth. Growing collaborations among various Australian companies to develop new rapid diagnostic tests are anticipated to boost the market during the forecast period.
In September 2018, Mylan N.V. partnered with Atomo Diagnostics to commercialize its HIV rapid diagnostic tests in low- and middle-income economies. This test allows individuals to easily screen themselves at home.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into Australia lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia lateral flow assays market size, by product, 2018-2030 (US$M)
Australia Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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