Lateral flow assays are devices that may be used to confirm the presence or absence of a target analyte without using lab equipment. For the qualitative and quantitative detection of particular antigens and antibodies, these instruments are frequently employed in hospitals and clinical laboratories. It's a low-cost, straightforward method for detecting infections or biomarkers in humans and animals, as well as pollutants and harmful substances in water, food, and animal feed. The COVID-19 pandemic has had a beneficial influence on the lateral flow assays market, since the requirement for quick identification of coronavirus infection has been a priority since the epidemic began in December 2019. As the number of cases has grown across the globe, most of the major lateral flow assay market players have invested in research and development, and formed partnerships and agreements with other market players and government agencies to develop lateral flow diagnostic solutions for the disease. As a result, several COVID-19 antibody and antigen tests have been launched, with excess manufacturing and distribution of these tests across areas to meet increased demand.
Abbott Laboratories (U.S.)
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Despite tremendous advancements in sanitation and medicine, infectious illness incidence remains high over the world. Infectious illnesses are still a major public health problem across the world, despite the fact that non-communicable illnesses are the largest cause of morbidity and mortality. Infectious illnesses take the lives of more than 15 million people worldwide each year, according to the National Institute of Allergy and Infectious Diseases. In the forecast period, this factor is expected to be a significant driver of the lateral flow assays market.
In September 2020, the PanBio COVID-19 immunochromatographic test for quick qualitative identification of Sars-CoV-2 virus was introduced in Europe by Abbott Laboratories (US).
In September 2020, F.Hoffman La Roche Ltd. (Switzerland) will offer the SARS CoV-2 Rapid Antigen Test in markets that accept the CE Mark.
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