Need for Accurate Results within Actionable Timeframe Boosts Demand for Lateral Flow Diagnostic Tests Market Lateral flow diagnostics have emerged as key diagnostics tests in recent years due to a high prevalence of cardiovascular diseases, rising cases of cancer, and growing number of diabetic patients. The leading players in the Asia Pacific lateral diagnostic tests market such as Alere, Inc., Beckman Coulter, Inc., Becton Dickinson, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd. are focusing on intensifying their research and development activities to develop point-ofcare testing methods are deliver accurate test results.
In August 2016, Alere Inc. stated that it was awarded the In-Vitro Diagnostic (IVD) CE marking in Europe. The company will now be able to use its Alere™ Reader, a diagnostic analyzer for laboratory and point-of-care testing across Europe. The new analyzer is expected to ensure accurate test results within an actionable time period to provide the right treatment to the patient. Though the launch is initially in Europe, the product will come to other regions of the world in the near future. Q. What are the prominent drivers in the APAC market? A. The sudden outburst of infectious diseases along with chronic conditions are expected to drive the Asia Pacific lateral flow diagnostic tests market in the coming years. The growing awareness about healthcare and the availability of a wide range of diagnostics are also anticipated to fuel the overall market. According to the latest report published by Transparency Market Research, the opportunity in the APAC lateral flow diagnostic tests market is expected to be worth US$3.22 bn by 2023 as compared to US$2.30 bn in 2015. Between the years of 2015 and 2023, the overall market is expected to rise at a CAGR of 5.7%. Read Full Report: http://www.transparencymarketresearch.com/apac-lateral-flow-diagnostictests-market.html Q. Which application segment is poised to emerge as a leading segment in the APAC lateral flow diagnostic tests market? A. The lateral flow diagnostic tests are primarily used for diagnosing pregnancy as the awareness about pregnancy testing is growing in the remote regions of Asia Pacific. Growing number of pregnancies and affordability of these tests are some of the factors that are expected to augment the demand for lateral flow diagnostic tests for pregnancy. Analysts predict that application of lateral flow diagnostic tests for pregnancy will rise at a CAGR of 4.5% during the forecast period.