Pune, India, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The latex agglutination test kits market is projected to grow from USD 462.4 million in 2022 to USD 620.0 million by 2029, exhibiting a CAGR of 4.3% throughout the forecast period. Latex agglutination test kits play a crucial role in detecting antigens from Cerebrospinal Fluid (CSF), blood, urine, and saliva.
This information is presented in the report titled "Latex Agglutination Test Kits Market, 2022-2029" by Fortune Business Insights.
Key Industry Development:
April 2022- Bio-Rad Laboratories, Inc. presented its comprehensive array of infectious disease testing systems, reagents, and quality controls at the 32nd European Congress of Clinical Microbiology & Infectious Diseases (ECCMID) 2022 to enhance testing workflows.
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Key Takeaways:
- As reported in a 2021 Medline Plus article, latex agglutination kits deliver results within a timeframe ranging from 15 minutes to an hour.
- According to an October 2022 publication from the World Health Organization (WHO), tuberculosis (TB) ranks as the 13th leading cause of death globally and is the second leading infectious disease.
- The market is divided into antibody detection and antigen testing segments based on the test type.
- In 2021, the market size in North America was USD 203.5 million.
Discover the Leading Players Featured in the Report:
Atlas Medical GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), HiMedia Laboratories (India), Pro Lab Diagnostics Inc. (Canada), Arlington Scientific, Inc. (U.S.) Hardy Diagnostics (U.S.), Liofilchem S.r.l. (Italy), Biotec (Novacyt) (U.K.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 4.3% |
| 2029 Value Projection | USD 620.0 million |
| Base Year | 2021 |
| Market Size in 2022 | USD 462.4 million |
| Historical Data | 2018-2020 |
| No. of Pages | 130 |
| Segments covered | By Test Type, Sample Type, End-user, and Region |
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Segmentation:
Antigen Testing to Lead Due to High Disease Impact
In terms of test type, the market is segmented into antibody detection and antigen testing. The antigen testing segment is further divided into streptococcus, staphylococcus aureus, escherichia coli, and others.
The dominance of the antigen testing segment is attributed to the substantial patient population affected by various bacterial, viral, and fungal diseases. The antibody detection segment is also expected to experience significant growth, driven by the increasing adoption of antibody testing through latex agglutination test kits and the rising prevalence of diseases.
Blood Segment to Dictate as it is used in Antigen and Antibody Test Kits
Categorized by sample type, the market includes blood, urine, cerebrospinal fluid (lumbar puncture), and others. The blood segment is poised to dominate the market due to its widespread use in antigen and antibody latex agglutination test kits. The urine segment also holds considerable impact, as urine samples are commonly utilized for detecting human chorionic gonadotropin (hCG) hormones and fibrin.
Hospital-based Laboratories to Govern Owing to Favorable Health Reimbursement Policies
Based on end-users, the market is bifurcated into hospital-based laboratories and standalone clinical laboratories. The dominance of hospital-based laboratories is projected, driven by favorable health reimbursement policies for infectious diseases diagnostics and increased awareness regarding early disease diagnosis.
Driving factor:
Diverse Applications of Test Kits to Propel Market Advancement
The diverse applications of these kits are expected to foster growth in the latex agglutination test kits market. They find use in conditions such as hepatitis, meningitis, rheumatoid arthritis, tonsillitis, and other streptococcal infections. The diagnosis of various infectious and autoimmune diseases is poised to drive a positive trajectory in the market. Several clinical studies provide a scientific foundation for the effectiveness of these test kits, ultimately encouraging patient adoption in the market. Autoimmune diseases, including lupus and rheumatoid arthritis, also stand as significant contributing factors to market growth.
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Regional insights:
North America to Lead the Market Due to Growing Adoption of These Kits
The latex agglutination test kits market in North America is projected to hold the largest market share, driven by the increasing adoption of such kits and the presence of a substantial number of Clinical Laboratory Improvement Amendments (CLIA) certified laboratories.
Europe, ranking as the second-largest market in 2021, is characterized by a surge in research and development activities aimed at assessing the effectiveness of these kits, along with government expenditures to provide diagnostic care for patients.
Asia Pacific exhibited the highest Compound Annual Growth Rate (CAGR) due to the region's significant share of the global burden of infectious diseases. The rising incidence of infectious diseases is expected to stimulate the promotion and utilization of latex agglutination testing.
Competitive Landscape
Partnership Strategies by Key Players to Drive Market Growth
Thermo Fisher Scientific Inc. and Hardy Diagnostics emerge as the pivotal players in the market, contributing significantly due to their extensive customer base and strong presence of healthcare professionals within their network. Other notable players in the market include Atlas Medical GmbH, HiMedia Laboratories, Liofilchem S.r.l, Bio-Rad Laboratories, Inc., Pro Lab Diagnostics Inc., Arlington Scientific, Inc., Biotec (Novacyt), and others. In June 2021, Bio-Rad Laboratories, Inc. entered into a partnership with Seegene for the clinical development and commercialization of infectious disease molecular diagnostic products.
FAQs
How big is the Latex Agglutination Kits Market?
Latex Agglutination Kits Market size was USD 462.4 million in 2022.
How fast is the Latex Agglutination Kits Market growing?
The Latex Agglutination Kits Market will exhibit a CAGR of 4.3% during the forecast period, 2022-2029.
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