South Africa Lateral Flow Assays Market Size & Outlook
South Africa lateral flow assays market, 2018-2030 (US$M)
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South Africa lateral flow assays market highlights
- The South Africa lateral flow assays market generated a revenue of USD 154.3 million in 2023 and is expected to reach USD 208.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.4% 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 154.3 million |
| Market revenue in 2030 | USD 208.6 million |
| Growth rate | 4.4% (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, South Africa accounted for 1.5% 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 Middle East & Africa, South Africa lateral flow assays market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 55.2 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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South Africa 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 69.02% in 2023. Horizon Databook has segmented the South Africa 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 prevalence of malaria in South Africa is anticipated to boost the market during the forecast period. Africa is one of the key regions with the highest malaria burden. The disease is expected to remain predominant in this region owing to various factors, including poverty, local weather conditions, socioeconomic instability, high distribution of P. falciparum, and an underdeveloped healthcare system.
According to International Association for Medical Assistance to Travelers (IAMAT), incidence rate of P. falciparum malaria in South Africa is around 90% of all cases, representing a significant concern for tourists visiting the country.
These factors can significant drive the demand for associated lateral flow tests and can boost the country’s market. Increase in use of diagnostic tests for HIV detection is also expected to fuel the market.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into South Africa lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa lateral flow assays market size, by product, 2018-2030 (US$M)
South Africa Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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