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Latex Agglutination Test Kits Market Size

Report ID: GMI9570
Published Date: May 2024
Report Format: PDF

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Latex Agglutination Test Kits Market Size

Latex Agglutination Test Kits Market size was valued at around USD 610.4 million in 2023 and is estimated to grow at 6.5% CAGR from 2024 to 2032. A latex agglutination test is a laboratory method used to detect the presence of specific antigens or antibodies in a sample. The test utilizes latex beads coated with either antigen or antibody molecules. When the sample is added, if the corresponding antibody or antigen is present, it binds to the latex particles, causing visible clumping or agglutination. This reaction indicates a positive result.

$Latex Agglutination Test Kits Market$

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The rising prevalence of autoimmune diseases such as rheumatoid arthritis (RA), type 1 diabetes, multiple sclerosis (MS), and psoriasis are a significant driving factors for the market. For instance, according to the World Health organization recent statistics, 18 million people worldwide were living with rheumatoid arthritis. Among those affected, approximately 70% were women, and 55% were over the age of 55. Thus, this underscores the growing demand for diagnostic tools, including latex agglutination test kits, which are essential for the early and accurate detection of these conditions.

Latex Agglutination Test Kits Market Report Attributes
Report Attribute	Details
Base Year:	2023
Latex Agglutination Test Kits Market Size in 2023:	USD 610.4 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.5%
2032 Value Projection:	USD 1.1 Billion
Historical Data for:	2021 – 2023
No. of Pages:	231
Tables, Charts & Figures:	288
Segments covered:	Test Type, Infection Type, Sample Type, End-use, and Region
Growth Drivers:	Rising prevalence of infectious and autoimmune diseases Increasing demand for point-of-care testing (POCT) Technological innovations Increasing awareness and screening programs
Pitfalls & Challenges:	Stringent regulatory requirements

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Furthermore, increasing demand for point-of-care testing (POCT), technological innovations, and increasing awareness and screening programs, are the promoting factors fostering the growth of the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size for latex agglutination test kits was valued at around USD 610.4 million in 2023 and is estimated to grow at 6.5% CAGR from 2024 to 2032, driven by the rising prevalence of autoimmune diseases such as rheumatoid arthritis (RA), type 1 diabetes and multiple sclerosis (MS).

The antigen test type segment of the latex agglutination test kits market accounted for USD 460.8 million in 2023 and will expand rapidly through 2032, as antigen testing using latex agglutination is generally cost-effective compared to other diagnostic methods.

The U.S. industry held a decent market share in 2023 and anticipated to grow at 6.3% CAGR during 2024-2032, owing to a well-developed healthcare infrastructure with a robust network of hospitals, clinics, and diagnostic laboratories.

Atlas Medical GmbH, Arlington Scientific, Inc., Bio-Rad Laboratories, Inc, bioMérieux SA, Biotium, Creative Diagnostics, Cardinal Health, Inc, Eurofins Scientific Group, Hardy plc, HiMedia Laboratories among others.