PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454109
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454109
Latex Agglutination Test Kits Market size was valued at USD 715.02 Million in 2023, expanding at a CAGR of 5.5% from 2024 to 2032.
Agglutination, which is frequently employed in blood grouping, is the result of mixing an antigen with its matching antibody, agglutinin. Known by its popular name, latex fixation, latex agglutination testing is a diagnostic process used in laboratories to identify certain antigens and antibodies. Depending on the kind of sample needed, the bodily fluids utilized in the test may include blood, urine, saliva, and cerebrospinal fluid.
Latex Agglutination Test Kits Market- Market Dynamics
Growing awareness drives market growth
The management of disease epidemics greatly depends on public awareness programs that emphasize the identification of infectious disease signs and the adoption of preventative measures. Considering that India is one of the high-risk nations, the CDC works tirelessly to contain illness outbreaks there. The CDC initially concentrated on preventing HIV/AIDS, but it has now broadened its purview to include treating other illnesses in India, such as influenza, TB, vaccinations, and antibiotic resistance. To better respond to disease outbreaks, this project strengthened the nation's laboratory and monitoring capabilities. Thus, there is a strong global demand for latex agglutination test kits as a result of greater patient awareness.
Latex Agglutination Test Kits Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2024-2032)
Based on product type segmentation, the ELISA segment is expected to capture the largest market share during the forecast period
Based on sample type segmentation, the Blood category dominates the market
Based on region, North America was the leading revenue generator in 2023
The Global Latex Agglutination Test Kits Market is segmented based on Product Type, Test Type, Sample Type, End-use, and Region.
Based on the product type, the market is segmented into Hemagglutination Inhibition, Indirect Fluorescent, ELISA and Serum Neutralization. The ELISA segment is expected to capture the largest market share during the forecast period. Clinics and smaller healthcare institutions are adopting ELISA latex agglutination kits at a faster rate due to the move toward point-of-care testing and quick diagnosis. Technological developments that improve the efficacy and precision of ELISA testing, such as automation, downsizing, and digital platforms, also propel the market.
Based on the sample type, the global industry is divided into Blood, Cerebrospinal Fluid, Urine and Others. The Blood category dominates the market and is likely to maintain its dominance during the forecast period. The presence of clotting factors in blood makes it a favored sample for antibody and antigen latex agglutination test kits. Blood samples are also necessary for the diagnosis of several fungal and bacterial illnesses to identify the illness. The segment's growth is being driven by these factors.
Latex Agglutination Test Kits Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. Numerous variables, including the existence of significant operational companies and an increase in the burden of infectious illnesses, are credited with the region's expansion. For instance, the U.S. Centers for Disease Control and Prevention (CDC) believes that the number of influenza infection cases in the United States has been a significant amount. This varied from about 9 million to 41 million instances between 2010 and 2020, leading to 140 thousand to 710 thousand hospital admissions and 12 thousand to 52 thousand fatalities yearly in the United States. Thus, the aforementioned stats drive the market growth in the region.
The market players operating in the Latex Agglutination Test Kits market are Bio-Rad Laboratories, Inc., Creative Diagnostics, bioMerieux S.A., Bioloegend Inc., HiMedia Laboratories Microbiology International, Biotium, Thermo Fisher Scientific Inc., Eurofins Abraxis, Cardinal Health and Atlas Medical GmbH among others. These players adopted various strategies to hold a maximum market share such as product launches, acquisitions, expansion and others.
In June 2022, Diagnostic BioSystem (DBS) and Thermo Fisher Scientific worked together to provide a large range of primary antibodies in the United States. Customers will be able to use the company's high-quality, creative, and reasonably priced goods for their regular histopathological staining needs due to this relationship.
GLOBAL LATEX AGGLUTINATION TEST KITS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Bio-Rad Laboratories, Inc.
Creative Diagnostics
bioMerieux S.A.
Bioloegend Inc.
HiMedia Laboratories Microbiology International
Biotium
Thermo Fisher Scientific Inc.
Eurofins Abraxis
Cardinal Health
Atlas Medical GmbH