Latex Agglutination Test Kits Market Exhibits 4.3% CAGR to Reach USD 620.0 million by 2029
Fortune Business Insights
7 min read
Fortune Business Insights
As per the report by Fortune Business Insights, the global Latex Agglutination Test Kits Market size is projected to reach USD 620.0 million in 2029, at a CAGR of 4.3 % during the forecast period, 2022-2029
Pune, India, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The latex agglutination test kits market size was valued at USD 447.2 million in 2021 and USD 462.4 million in 2022. The market is expected to reach USD 620.0 million by 2029 with a CAGR of 4.3% during the forecast period. Latex agglutination test kits are used to detect antigens from Cerebrospinal Fluid (CSF), blood, urine, and saliva. The presence of such tests provides an effective measure to combat diseases, which is expected to propel the market course. Fortune Business Insights™ shares this information in its report titled “Latex Agglutination Test Kits Market, 2022-2029.
Industry Development:
April 2022- Bio-Rad Laboratories, Inc. showcased its complete range of infectious disease testing systems, reagents, and quality controls for optimizing testing workflows by participating in the 32nd European Congress of Clinical Microbiology & Infectious Diseases (ECCMID) 2022.
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Key Takeaways from the Latex Agglutination Test Kits Market:
Hepatitis, meningitis, rheumatoid arthritis, tonsillitis, and other streptococcal diseases are frequently diagnosed with latex agglutination test kits
The market is divided into two categories based on test type: antigen testing and antibody detection
North America is expected to dominate the global market, with a market size of USD 203.5 million in 2021
The market's largest segment is the antigen testing category
An increase in hospital-based laboratories and an increase in the incidence of infectious and autoimmune diseases all contribute to the growth of the global market
DRIVING FACTOR:
Variegated Application of Test Kits to Progress Market Development Variegated application of these kits is anticipated to drive the latex agglutination test kits market growth. They are used for hepatitis, meningitis, rheumatoid arthritis, tonsillitis, and other streptococcal infections. Diagnosis of various infectious and autoimmune diseases to lead to positive market trajectory. Various clinical studies showcase a scientific basis regarding the efficacy of these test kits, eventually promoting patient adoption in the market. Autoimmune diseases, such as lupus and rheumatoid arthritis, are also prominent contributing factors for market growth. However, the emergence of new and reliable alternative diagnostics is expected to hamper the market growth.
North America to Lead the Market Owing to Increasing Usage of Such Kits
North America is expected to have the largest latex agglutination test kits market share due to increasing usage of such kits and number of Clinical Laboratory Improvement Amendments (CLIA) certified laboratories.
Europe was the second-largest market in 2021 due to surging R&D activities to detect the efficacy of these kits and government expenditure to offer diagnostic care for patients.
Asia Pacific had the highest CAGR as the region had significant proportion of the global burden of infectious diseases. Rising incidence of infectious diseases will boost the promotion of latex agglutination testing.
Segments
Antigen Testing to Lead Due to Large Number of Patients Being Affected By Various Diseases
On the basis of test type, the market is divided into antibody detection and antigen testing. The antigen testing segment is further sub-segmented into streptococcus, staphylococcus aureus, escherichia coli, and others.
The antigen testing segment accounted for the dominant part owing to a large number of patient population affected by various bacterial, viral, and fungal diseases. Antibody detection segment is also set to witness a significant growth due to increasing adoption of antibody testing by latex agglutination test kits and the rising prevalence of diseases.
Blood Segment to Dictate as it is Used in Antigen and Antibody Test Kits
Based on sample type, the market is categorized into blood, urine, cerebrospinal fluid (lumbar puncture), and others. The blood segment is anticipated to dominate the market as it is widely used in antigen and antibody latex agglutination test kits. Urine segment also had substantial impact as urine samples are commonly taken to detect human chorionic gonadotropin (hCG) hormones and fibrin.
Hospital-based Laboratories to Govern Owing to Favorable Health Reimbursement Policies
According to end-user, the market is bifurcated into hospital-based laboratories and standalone clinical laboratories. Hospital-based laboratories segment is projected to govern due to favorable health reimbursement policies for infectious diseases diagnostics and rising awareness regarding the early diagnosis of infectious diseases.
Partnership Strategies by Key Players to Progress Market Growth
The market has Thermo Fisher Scientific Inc. and Hardy Diagnostics as the key players and they accounted for the major proportion in the market, owing to a large customer base and robust presence of healthcare professionals in their network. Some other key players 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. signed a partnership with Seegene for the clinical development and commercialization of infectious disease molecular diagnostic products.
The Report Lists the Key Companies in the Latex Agglutination Test Kits Market:
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.)
Some major points from Table of Content:
Key Insights
Prevalence of Key Infectious Diseases, By Key Countries, 2021
Key Industry Developments
Economic Burden of Infectious Diseases, By Key Countries, 2021
Impact of COVID-19 on the Market
Global Latex Agglutination Test Kits Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Test Type
Antibody Detection
Antigen Testing
Streptococcus
Staphylococcus Aureus
Escherichia Coli
Others
North America Latex Agglutination Test Kits Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Test Type
Antibody Detection
Antigen Testing
Market Analysis, Insights and Forecast – By Sample Type
Blood
Urine
Cerebrospinal Fluid (Lumber Puncture)
Others
Market Analysis, Insights and Forecast – By End User
Hospital-based Laboratories
Standalone Clinical Laboratories
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Rest of the World
Streptococcus
Staphylococcus Aureus
Escherichia Coli
Others
Europe Latex Agglutination Test Kits Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Test Type
Antibody Detection
Antigen Testing
Market Analysis, Insights and Forecast – By Sample Type
Blood
Urine
Cerebrospinal Fluid (Lumber Puncture)
Others
Market Analysis, Insights and Forecast – By End User
Hospital-based Laboratories
Standalone Clinical Laboratories
Market Analysis, Insights and Forecast – By Country
U.S.
Canada
Streptococcus
Staphylococcus Aureus
Escherichia Coli
Others
Asia Pacific Latex Agglutination Test Kits Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Test Type
Antibody Detection
Antigen Testing
Market Analysis, Insights and Forecast – By Sample Type
Blood
Urine
Cerebrospinal Fluid (Lumber Puncture)
Others
Market Analysis, Insights and Forecast – By End User
Hospital-based Laboratories
Standalone Clinical Laboratories
Market Analysis, Insights and Forecast – By Country/ Sub-Region
Germany
U.K.
France
Spain
Italy
Scandinavia
Rest of Europe
Streptococcus
Staphylococcus Aureus
Escherichia Coli
Others
Rest of the World Latex Agglutination Test Kits Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Test Type
Antibody Detection
Market Analysis, Insights and Forecast – By Sample Type
Blood
Urine
Cerebrospinal Fluid (Lumber Puncture)
Others
Market Analysis, Insights and Forecast – By End User
Hospital-based Laboratories
Standalone Clinical Laboratories
Market Analysis, Insights and Forecast – By Country/ Sub-Region
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