China Lateral Flow Assays Market Size & Outlook, 2023-2030
China lateral flow assays market, 2018-2030 (US$M)
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China lateral flow assays market highlights
- The China lateral flow assays market generated a revenue of USD 387.3 million in 2023 and is expected to reach USD 598.6 million by 2030.
- The China market is expected to grow at a CAGR of 6.4% 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 387.3 million |
| Market revenue in 2030 | USD 598.6 million |
| Growth rate | 6.4% (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, China accounted for 3.8% 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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China 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 67.91% in 2023. Horizon Databook has segmented the China lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
China is expected to witness exponential growth in market share, owing to the initiatives undertaken by the government and key market players. Although rapid tests were restricted in China, in March 2022, the country, for the first time, allowed the use of rapid antigen tests for diagnosis of COVID-19 due to the fast-spreading omicron outbreak in the country.
Furthermore, in January 2018, QIAGEN N.V. partnered up with a Chinese company that had taken over commercial distribution, R&D, infrastructure, and employees related to HPV testing franchise in China. Such partnerships are driving the market expansion in the country and are expected to significantly boost the regional growth.
There has been a considerable increase in prevalence of avian influenza A (H7N9) in the country in recent years. Majority of the reported human cases of avian influenza have been exposed to infected live poultry or contaminated environments, which also include markets where poultry is sold. As a result, rise in product approval for various infectious disease tests is anticipated to boost market growth in the near future.
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Horizon Databook provides a detailed overview of country-level data and insights on the China lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into China lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China lateral flow assays market size, by product, 2018-2030 (US$M)
China Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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