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Lateral Flow Assay Trends and Forecast
The future of the global lateral flow assay market looks promising with opportunities in the clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing markets. The global lateral flow assay market is expected to reach an estimated $13.7 billion by 2030 with a CAGR of 6.6% from 2024 to 2030. The major drivers for this market are increased use of home-based lateral flow assay kits, growth in government initiatives to promote health awareness, and rising demand for point-of-care testing.
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Lateral Flow Assay by Segment
The study includes a forecast for the global lateral flow assay by product, technique, application, end use, and region.
Lateral Flow Assay Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Kits & Reagents
• Lateral Flow Readers
Lateral Flow Assay Market by Technique [Shipment Analysis by Value from 2018 to 2030]:
• Sandwich Assays
• Competitive Assays
• Multiplex Detection Assays
Lateral Flow Assay Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Clinical Testing
• Veterinary Diagnostics
• Food Safety & Environment Testing
• Drug Development & Quality Testing
Lateral Flow Assay Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Hospitals & Clinics
• Diagnostic Laboratories
• Home Care
• Pharmaceutical & Biotechnology Companies
• Others
Lateral Flow Assay Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Lateral Flow Assay Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies lateral flow assay companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the lateral flow assay companies profiled in this report include-
• Siemens
• Hologic
• Bio-Rad Laboratories
• Abbott Laboratories
• Biomérieux
• Danaher
• F. Hoffmann-La Roche
• Becton And Dickinson
• Perkinelmer
• Thermo Fisher Scientific
Lateral Flow Assay Market Insights
Lucintel forecasts that kits & reagents will remain the larger segment over the forecast period due to its growing adoption for infectious disease testing as they are affordable and easy to use.
Within this market, food safety & environment testing is expected to witness highest growth over the forecast period due to increasing inclination of food and beverage industry from lab-based conventional microiology procedures towards rapid LFA tests.
North America will remain the largest region during the forecast period due to the surge in the prevalence of different infectious diseases, larger patient base, and great affordability as high disposable income in the region.
Features of the Global Lateral Flow Assay Market
Market Size Estimates: Lateral flow assay market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Lateral flow assay market size by various segments, such as by product, technique, application, end use, and region in terms of value ($B).
Regional Analysis: Lateral flow assay market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, techniques, applications, end uses, and regions for the lateral flow assay market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the lateral flow assay market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the lateral flow assay market size?
Answer: The global lateral flow assay market is expected to reach an estimated $13.7 billion by 2030.
Q2. What is the growth forecast for lateral flow assay market?
Answer: The global lateral flow assay market is expected to grow with a CAGR of 6.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the lateral flow assay market?
Answer: The major drivers for this market are increased use of home-based lateral flow assay kits, growth in government initiatives to promote health awareness, and rising demand for point-of-care testing.
Q4. What are the major segments for lateral flow assay market?
Answer: The future of the lateral flow assay market looks promising with opportunities in the clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing markets.
Q5. Who are the key lateral flow assay market companies?
Answer: Some of the key lateral flow assay companies are as follows:
• Siemens
• Hologic
• Bio-Rad Laboratories
• Abbott Laboratories
• Biomérieux
• Danaher
• F. Hoffmann-La Roche
• Becton And Dickinson
• Perkinelmer
• Thermo Fisher Scientific
Q6. Which lateral flow assay market segment will be the largest in future?
Answer: Lucintel forecasts that kits & reagents will remain the larger segment over the forecast period due to its growing adoption for infectious disease testing as they are affordable and easy to use.
Q7. In lateral flow assay market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region during the forecast period due to the surge in the prevalence of different infectious diseases, larger patient base, and great affordability as high disposable income in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the lateral flow assay market by product (kits & reagents and lateral flow readers), technique (sandwich assays, competitive assays, and multiplex detection assays), application (clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing), end use (hospitals & clinics, diagnostic laboratories, home care, pharmaceutical & biotechnology companies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Lateral Flow Assay Market, Lateral Flow Assay Market Size, Lateral Flow Assay Market Growth, Lateral Flow Assay Market Analysis, Lateral Flow Assay Market Report, Lateral Flow Assay Market Share, Lateral Flow Assay Market Trends, Lateral Flow Assay Market Forecast, Lateral Flow Assay Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Lateral Flow Assay Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Lateral Flow Assay Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Lateral Flow Assay Market by Product
3.3.1: Kits & Reagents
3.3.2: Lateral Flow Readers
3.4: Global Lateral Flow Assay Market by Technique
3.4.1: Sandwich Assays
3.4.2: Competitive Assays
3.4.3: Multiplex Detection Assays
3.5: Global Lateral Flow Assay Market by Application
3.5.1: Clinical Testing
3.5.2: Veterinary Diagnostics
3.5.3: Food Safety & Environment Testing
3.5.4: Drug Development & Quality Testing
3.6: Global Lateral Flow Assay Market by End Use
3.6.1: Hospitals & Clinics
3.6.2: Diagnostic Laboratories
3.6.3: Home Care
3.6.4: Pharmaceutical & Biotechnology Companies
3.6.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Lateral Flow Assay Market by Region
4.2: North American Lateral Flow Assay Market
4.2.2: North American Lateral Flow Assay Market by Application: Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, and Drug Development & Quality Testing
4.3: European Lateral Flow Assay Market
4.3.1: European Lateral Flow Assay Market by Product: Kits & Reagents and Lateral Flow Readers
4.3.2: European Lateral Flow Assay Market by Application: Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, and Drug Development & Quality Testing
4.4: APAC Lateral Flow Assay Market
4.4.1: APAC Lateral Flow Assay Market by Product: Kits & Reagents and Lateral Flow Readers
4.4.2: APAC Lateral Flow Assay Market by Application: Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, and Drug Development & Quality Testing
4.5: ROW Lateral Flow Assay Market
4.5.1: ROW Lateral Flow Assay Market by Product: Kits & Reagents and Lateral Flow Readers
4.5.2: ROW Lateral Flow Assay Market by Application: Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, and Drug Development & Quality Testing
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Lateral Flow Assay Market by Product
6.1.2: Growth Opportunities for the Global Lateral Flow Assay Market by Technique
6.1.3: Growth Opportunities for the Global Lateral Flow Assay Market by Application
6.1.4: Growth Opportunities for the Global Lateral Flow Assay Market by End Use
6.1.5: Growth Opportunities for the Global Lateral Flow Assay Market by Region
6.2: Emerging Trends in the Global Lateral Flow Assay Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Lateral Flow Assay Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Lateral Flow Assay Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Siemens
7.2: Hologic
7.3: Bio-Rad Laboratories
7.4: Abbott Laboratories
7.5: Biomérieux
7.6: Danaher
7.7: F. Hoffmann-LA Roche
7.8: Becton and Dickinson
7.9: Perkinelmer
7.10: Thermo Fisher Scientific
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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