“A huge scope for improvement has created a perfect space in the APAC market for the new entrants,” says the lead author of this research report. New players will have to counter the existing competition through intense research and development activities, strategic mergers and acquisitions, and building a solid brand value to grab a sustainable share in the overall market.
The APAC lateral flow diagnostic tests market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the APAC lateral flow diagnostic tests market with respect to market segments based on application and country analysis.
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The inaccuracy of results delivered by lateral flow diagnostic tests is the biggest challenge this market faces. Currently, the lateral flow diagnostic tests are only meant for diagnosis at home or for point-of-care testing. Furthermore, the incorrect sampling at home can also lead to poor disease management and worsen the actual diagnosis.
Geographically, the APAC lateral flow diagnostic tests market has been categorized into 14 major countries: China, India, South Korea, Indonesia, Australia, Japan, Malaysia, Philippines, Singapore, New Zealand, Vietnam, Bangladesh, Pakistan, and Rest of APAC. The market size and forecast for each of these regions has been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023. The research study also covers the competitive scenario in these regions. A detailed qualitative analysis of factors responsible for driving and restraining the growth of the market and future opportunities has been provided in the market overview section. This section of the report also provides Porter’s Five Forces analysis, and heat map analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the APAC lateral flow diagnostic tests market.
Based on application, the APAC lateral flow diagnostic tests market have been segmented into pregnancy, hepatitis, HIV, influenza, syphilis, malaria, and others which includes lung disorders, cardiac markers, drug abuse, etc. The market segments have been extensively analyzed based on usefulness, efficacy, revenue, and geographical coverage. The market size and forecast in terms of USD million for each segment has been provided for the period from 2013 to 2023. The report also provides the volume and compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2013 and 2014 as the base years.
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Some of the leading players operating in the APAC lateral flow diagnostic tests market are Bio-Rad Laboratories, Alere, Inc., Beckman Coulter, Inc., Dickinson and Company, Becton, bioMérieux SA, EMD Millipore, Siemens Healthcare, F. Hoffmann-La Roche Ltd., and QIAGEN. The competitive landscape of the market is defined as consolidated with the presence of a few large regional players. Companies will have to dedicate their research and development activities towards delivering solutions that are technologically advanced to stay ahead of the competition.
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