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Lateral Flow Diagnostic Tests Market is Projected to Expand at a CAGR of 8.3% from 2015 to 2023
The聽Asia Pacific lateral flow diagnostic tests market聽is consolidated and highly competitive. The top players within the market are: F. Hoffmann-La Roche Ltd., Beckman Coulter, Alere, Inc., Bio-Rad Laboratories, and Becton. As per a report by Transparency Market Research (TMR), a huge scope of improvement lies in the APAC market and this in turn will create a chance for new entrants to enter the market and develop better and improved products. However Cheap NFL Jerseys China , new players will have to counter the existing competition by means of intense R&D and strategic mergers and collaborations. This will help them build a strong brand and gain a sustainable market share.
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According to TMR, the APAC lateral flow diagnostic tests market will reach US$3.22 bn by the end of 2023. On the basis of application, the hepatitis application segment is expected to expand at the highest CAGR of 8.3% between 2015 and 2023 on account of a sudden rise in autoimmune and contagious diseases across Asia Pacific.
Remarkable Improvement in Healthcare Sector Boding Well for Market鈥檚 Growth
The Asia Pacific lateral flow diagnostic tests market is gaining an impetus thanks to the growing awareness among people regarding the prevention of infectious diseases and an increase in healthcare spending. The growing prevalence of cancer, diabetes, cardiovascular disease, and infectious disease will boost the growth of the lateral flow diagnostic tests market in APAC. Noteworthy development in the healthcare sector is also a key factor boosting the growth of the lateral flow diagnostic tests market in the region.
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Inaccurate Test Results May Dampen Growth of Lateral Flow Diagnostic Tests Market聽
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