In our 3rd QUICK GUIDE, we look at the reasons why infectious disease testing is contributing to the expected growth of lateral flow diagnostics market by a Compound Annual Growth Rate (CAGR) of 8.2% by 2022 (Source: MarketsandMarkets.com).
Infectious disease testing accounts for approximately 28% of the clinical and point-of-care lateral flow diagnostics market and is estimated to be valued at $2.3bn by 2022, which is a CAGR of 10.7% (Source: MarketsandMarkets.com).
Infectious disease testing divides into:
There are a number of barriers preventing timely and efficient infectious disease testing and treatments; pressures on healthcare systems, access to healthcare systems, the cost of diagnosis and treatment, and the production of diagnostic results via laboratory methods being time-consuming. However, the rapid, low-cost, compact and portable nature of lateral flow technology is lowering some of these barriers.
The global patient population is increasing, and demanding rapid, early and accurate diagnosis and expecting subsequent treatments to begin in a timely fashion. This drives healthcare providers towards more cost-effective and streamlined care pathways.
The global prevalence of infectious diseases is also a driving factor for the adoption of lateral flow technology. UNICEF increased its procurement of malaria rapid diagnostic tests (mRDTs) from 3.8 million tests in 2008 to approximately 13 million in 2015. Also, the World Health Organisation (WHO) reported in 2017, “up to 650,000 people die of respiratory diseases linked to seasonal Influenza each year”.
Emerging markets are demanding affordable infectious disease testing, which lateral flow technology can accommodate. China and India are the big growth areas with an expected CAGR of 14.7% and 14.3% respectively, by 2022.
Lateral flow technology is frequently used for the diagnosis of the following targets, amongst many other targets:
Lateral flow technology offers several benefits owing to its ability to be adapted to multiple testing scenarios. In addition to this, here are the key reasons why lateral flow technology is well-suited to infectious disease testing:
Abingdon Health has a long-track record of developing and manufacturing single target and multiplex lateral flow assays within regulated and non-regulated markets. Watch one of our videos or contact us to learn more about our capabilities.
Published 13th April 2018