Singapore Lateral Flow Assays Market Size & Outlook
Singapore lateral flow assays market, 2018-2030 (US$M)
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Singapore lateral flow assays market highlights
- The Singapore lateral flow assays market generated a revenue of USD 112.7 million in 2023 and is expected to reach USD 157.4 million by 2030.
- The Singapore market is expected to grow at a CAGR of 4.9% 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 112.7 million |
| Market revenue in 2030 | USD 157.4 million |
| Growth rate | 4.9% (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, Singapore accounted for 1.1% 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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Singapore 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 65.93% in 2023. Horizon Databook has segmented the Singapore lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
Rising prevalence of infectious diseases has been key in the rising demand for diagnostic tests in the nation. Increasing prevalence of cardiac disease coupled with increasing incidence of infectious diseases such as HIV, Hepatitis B & C, tuberculosis are major factors propelling growth in the nation.
Availability of lateral flow assays and easy and effective disease diagnosis are contributing towards market growth. Furthermore, the country is witnessing several collaborations for development of new testing options.
For instance, in July 2020, MP Biomedicals and the Agency of Science, Technology and Research (A*Star), Singapore announced successful co-development of a rapid antibody test kit for COVID-19. In addition, the nation also developed several other COVID-19 test kits, such as TTSH’s Fortitude Kit 2.0, and Veredus Laboratories’ VereCoV detection kit, which are expected to boost the market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Singapore lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into Singapore lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore lateral flow assays market size, by product, 2018-2030 (US$M)
Singapore Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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