Spain Lateral Flow Assays Market Size & Outlook, 2023-2030
Spain lateral flow assays market, 2018-2030 (US$M)
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Spain lateral flow assays market highlights
- The Spain lateral flow assays market generated a revenue of USD 232.5 million in 2023 and is expected to reach USD 311.1 million by 2030.
- The Spain market is expected to grow at a CAGR of 4.2% 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 232.5 million |
| Market revenue in 2030 | USD 311.1 million |
| Growth rate | 4.2% (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, Spain accounted for 2.3% 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 Europe, UK lateral flow assays market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 521.5 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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Spain 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 66.75% in 2023. Horizon Databook has segmented the Spain lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing prevalence of infectious and chronic diseases is anticipated to boost market growth during the forecast period. According to International Diabetes Federation, there were about 5.1 million people living with diabetes, as of 2022, and the disease prevalence was 14.8%.
Collaborative efforts to tackle the COVID-19 pandemic are also driving the market in the country. In June 2020, Hologic, Inc. and Grifols collaborated for development of innovative tests to strengthen Spain’s testing capacity for COVID-19.
Rise in such initiatives can positively affect the market prospects in the country. Increasing strategic collaborations among new entrants is anticipated to boost market growth. For instance, in May 2019, Algenex SL, based in Spain, signed an agreement with Global DX.
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Horizon Databook provides a detailed overview of country-level data and insights on the Spain lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into Spain lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain lateral flow assays market size, by product, 2018-2030 (US$M)
Spain Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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