The study involved four major activities in estimating the current size of the Lateral flow assays Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering microfluidics and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the Lateral flow assays Market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Lateral flow assays Market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from microfluidics manufacturers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side customers/end users who are using microfluidics were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of lateral flow assays and the future outlook of their business, which will affect the overall market.
Breakdown of Primary Interviews: Supply-Side Participants, By Company Type, Designation, and Region
Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other primaries include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2020: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=<USD 500 million.
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Market Size Estimation
The research methodology used to estimate the size of the Lateral flow assays Market includes the following details.
The market sizing of the market was undertaken from the global side.
Country-level Analysis: The size of the Lateral flow assays Market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products and services in the overall Lateral flow assays Market was obtained from secondary data and validated by primary participants to arrive at the total Lateral flow assays Market. Primary participants further validated the numbers.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall Lateral flow assays Market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
Global Lateral flow assays Market Size: Top-Down Approach
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Global Lateral flow assays Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Lateral flow assays, also known as lateral flow immunochromatographic assays, are simple-to-use diagnostic devices to confirm the presence or absence of a target analyte, such as pathogens or biomarkers in humans or animals, or contaminants in water supplies, without the need for specialized equipment. The end users include the Consumers, Hospitals, Specialty Clinics and Ambulatory Surgery Centers and other end Users.
Key Stakeholders
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Ophthalmology Device Manufacturers
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Ophthalmology Surgical Devices Manufacturers
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Ophthalmology Diagnostic & Monitoring Devices Manufacturers
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Vision Care Products Manufacturers
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Suppliers and Distributors of Ophthalmology Devices
Report Objectives:
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To define, describe, and forecast the global lateral flow assays market based on the product, end user, and region
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To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall lateral flow assays market
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To analyze opportunities in the global lateral flow assays market for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the size of the global lateral flow assays market with respect to five regions—North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East & Africa
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To profile key players in the lateral flow assays market and comprehensively analyze their core competencies and market shares
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To track and analyze competitive developments, such as product launches and approvals, agreements, partnerships, collaborations, acquisitions, joint ventures, spin-offs, expansions, and R&D activities of leading players in the global lateral flow assays market
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To benchmark players in the market using the “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories of business and product strategy within the lateral flow assays market
Available customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
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Further breakdown of the Rest of Europe Lateral flow assays Market into the Netherlands, Austria, Belgium, and others
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Further breakdown of the Rest of Asia Pacific Lateral flow assays Market into Singapore, Malaysia, and others
Company Information
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Detailed analysis and profiling of additional market players
User
Nov, 2019
this is good.
Max
Oct, 2022
Which factors plays the vital role the global growth of Lateral Flow Assays Market?.
User
Jun, 2018
this is good.