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Cryptococcal Antigen Lateral Flow Assay Test Market Overview

The global cryptococcal antigen lateral flow assay test market was valued at around US$ 688.19 Million at the end of 2021. The market is projected to register a 3.73% CAGR and top a valuation of US$ 713.85 Million by 2032.

Growing advantages of cryptococcal antigen lateral flow assay test such as it uses two monoclonal antibodies impregnated into an immunochromatographic test strip to detect (CrAg) cryptococcal antigen and combined strong CrAg reactivity throughout the range of cryptococcal serotypes.

The immunochromotography test technique known as the cryptococcal antigen lateral flow assay is used to determine the capsule polysaccharides antigens of cryptococcus species that are found in cerebrospinal fluid (CSF) and serum.

The diagnosis of cryptococcal fungus at the point of care has undergone revolutionary modifications due to the combined use of immunoassay and chromatography. Through one strip of a lateral flow assay test, the patient is allowing to monitoring of the presence of a fungal infection.

These tests are becoming more and more common throughout the most industrialized countries in North America and Europe as a result of their straightforward operating method in comparison to other assay techniques. Additionally, the great sensitivity and accuracy with the shortest lead time to produce results are opening doors for early stage development products.

Attributes

Details

Cryptococcal Antigen Lateral Flow Assay Test Market Value in 2021

US$ 688.19 Million

Cryptococcal Antigen Lateral Flow Assay Test Market Value in 2032

US$ 713.85 Million

Cryptococcal Antigen Lateral Flow Assay Test Market CAGR (2022 to 2032)

3.73%

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What are the Major Drivers Boosting the Demand for Cryptococcal Antigen Lateral Flow Assay Test Market?

Cryptococcosis neoformans is a fungus that causes Cryptococcosis. Humans may contract the virus by coming into touch with unwashed raw fruit or pigeon droppings. Additionally, contact with an infected person may spread the virus. High risk groups for these diseases include people with diseases that are characterised by lowered immunity, such as HIV infection.

Additionally, increasing prevalence of lower immunity conditions such as HIV infection is supposed to boost the market for cryptococcal antigen lateral flow assay test. For instance, in 2021, according to World Health Organization around 38.4 million people where suffering from HIV, whereas around 1.5 million new cases reported during 2021. In this total almost 6,50,000 individuals died during HIV in 2021.

Moreover, the market for cryptococcal antigen lateral flow assay tests is expected to rise as a result of factors like rising rates of cryptococcal infection, long wait times for test results to come, and the ineffectiveness of other approaches.

Which Region Shows Strong Growth Potential in the Cryptococcal Antigen Lateral Flow Assay Test Market?

The cryptococcal antigen lateral flow assay test market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.

Middle East and Africa dominated the regional cryptococcal antigen lateral flow assay tests market due to increased adoption of assays as a result of rapid technological development and innovations for rapid laboratory testing.

In 2019, the WHO recommended countries to adopt a regular HIV testing strategy with three consecutive reactive testing methods for an HIV-positive diagnostic testing to make sure of the quality services as companies operate toward and achieve the UNAIDS 95-95-95 targets. This recommendation was issued in response to changing epidemiology. The guidelines also emphasised the need to phase out obsolete testing technologies, such as western blotting techniques, and to provide dual HIV/syphilis rapid diagnostic tests (RDTs). At that time, compliance with HIV testing policies increased in the WHO African region from 8% in 2014 to 71% in 2021. This factor significantly boosted the market growth in this region.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

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Who are the Key Manufacturers in the Cryptococcal Antigen Lateral Flow Assay Test Market?

Kestrel Biosciences LIC., Alere, Inc., BioMerieux, Danaher Corporation, Forsite Diagnostics, Merck Millipore, Qiagen, Roche Diagnostics, Hologic (Gen-Probe), and Siemens Healthcare.

Scope of Report

Report Attributes

Details

Growth Rate

CAGR of 3.73% 2022 to 2032

Base Year for Estimation

2021

Historical Data

2012 to 2021

Forecast Period

2022 to 2032

Qualitative Units

Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segment Covered

  • Instruments
  • Test Location
  • End-User
  • Region

Region Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Profiled

  • USA
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • Malaysia
  • Thailand
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • North Africa
  • Turkey

Key Players

  • Kestrel Biosciences LIC.
  • Alere, Inc.
  • BioMerieux
  • Danaher Corporation
  • Forsite Diagnostics
  • Merck Millipore
  • Qiagen
  • Roche Diagnostics
  • Hologic (Gen-Probe)
  • Siemens Healthcare

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Key Segments Covered in the Cryptococcal Antigen Lateral Flow Assay Test Market Survey

By Instruments:

  • Lateral Flow Readers
  • Kits and Reagents

By Test Location:

  • Home Testing
  • Point of Care Testing
  • Laboratory Testing

By End-user:

  • Diagnostic Laboratories
  • Ambulatory Clinics
  • Home Healthcare
  • Hospitals

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

Frequently Asked Questions

What is the Growth Outlook for the Global Cryptococcal Antigen Lateral Flow Assay Test Market?

The global cryptococcal antigen lateral flow assay test market is anticipated to register a CAGR of 3.73% during the forecast period.

Who are the Prominent Players in the Cryptococcal Antigen Lateral Flow Assay Test Market?

Kestrel Biosciences LIC., Alere, Inc., BioMerieux, Danaher Corporation, Forsite Diagnostics, Merck Millipore, Qiagen, Roche Diagnostics, Hologic (Gen-Probe), and Siemens Healthcare., among others are some prominent cryptococcal antigen lateral flow assay test market players.

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Cryptococcal Antigen Lateral Flow Assay Test Market

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