Lateral Flow Assays Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast Till 2028

The global lateral flow assays market size was USD 8.2 Billion in 2020 and is expected to register a CAGR of 4.6% during the forecast period.

The global lateral flow assays market size is expected to reach USD 11.66 billion by 2028 at a CAGR of 4.6%, according to the latest report by Reports and Data. Rising consumption rate for home-based lateral flow testing solutions and products, and growing requirement of better point-of-care testing products are a few major factors driving the revenue growth of the lateral flow assays market.  

Lateral flow assay involves antibodies and probe DNA biochemical interaction. This diagnostic method ensures simplified test with low costs and no requirement of any interference while the test is being conducted. Moreover, the test can also be easily conducted by non-trained individuals due to its highly user-friendly form of testing.

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Further key findings in the report

  • The clinical testing segment is expected to hold largest revenue share in the market during the forecast period due to its significance in disease detection along with a sharp rise in the incidence of different types of infectious diseases. 
  • The food safety environment testing segment is predicted to register highest revenue share in the lateral flow assays market going ahead. Increasing revenue growth of this segment is attributed to growing demand for lateral flow assays as well as rapid alternatives to various traditional diagnostic methods, especially for detecting foodborne pathogens and contaminants.
  • The market in North America is expected to account for the largest revenue share in the global lateral flow assays market during the forecast period. Large revenue share of this regional market is resultant of presence of several hospitals and healthcare systems and the increasing geriatric population in the region.
  • Major companies operating in the market are F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Abbott Laboratories (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), Rad Laboratories (U.S.), bioMérieux SA (France), Bio Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer Inc. (U.S.), QIAGEN N.V. (Netherlands), Quidel Corporation (U.S.), Hologic Inc. (U.S.), Merck KGaA (Germany), Abcam plc (UK).

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For the purpose of this report, Reports and Data has segmented the global lateral flow assays market on the basis of product, application, technique, sample type, end user, and region:

Product Outlook (Revenue, USD Billion, 2018 - 2028)

  • Kits Reagents
  • Lateral Flow Readers
    • Digital/Handheld Readers
    • Benchtop Readers
    • Mobile/Smartphone Readers

Application Outlook (Revenue, USD Billion, 2018 - 2028)

  • Clinical Testing
    • Infectious Disease Testing
      • Mosquito-borne Diseases
      • Covid-19
      • Influenza
      • Sexually Transmitted Infections
        • HIV
        • HPV
        • Chlamydia
        • Gonorrhea
        • Syphilis
        • Other Sexually Transmitted Infections
      • Hepatitis
      • Tuberculosis
      • Other Infectious Diseases
    • Cardiac Marker Testing
      • Troponin I and T Testing
      • CK-MB Testing
      • BNP or NT-proBNP Testing
      • Myoglobin Testing
      • D-Dimer Testing
      • Other Cardiac Markers
    • Pregnancy Fertility Testing
      • Pregnancy Testing
      • Fertility Testing
    • Cholesterol Testing/Lipid Profiles
    • Drugs-of-Abuse Testing
  • Veterinary Diagnostics
  • Food Safety Environment Testing
  • Drug Development Quality Testing

Technique Outlook (Revenue, USD Billion, 2018 - 2028)

  • Sandwich Assays
  • Competitive Assays
  • Multiplex Detection Assays 

Sample Type Outlook (Revenue, USD Billion, 2018 – 2028)

  • Blood Samples
  • Urine Samples
  • Saliva Samples
  • Other Samples 

End User Outlook (Revenue, USD Billion, 2018 - 2028)

  • Hospitals Clinics
  • Diagnostic Laboratories
  • Home Care Settings
  • Pharmaceutical Biotechnology Companies
  • Other End Users 

Regional Outlook (Revenue, USD Billion, 2018 - 2028)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

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 Growing advancements in medical therapies to drive market growth 

The pharmaceutical and healthcare industry is driven by rapid advancements in customized therapies, medical devices, and surgical procedures. Integration of advanced technologies to accelerate research and development and manufacturing and production activities are some other factors driving market growth.

High prices of certain drugs might affect revenue growth 

Launch of high-priced drugs to treat rare and chronic diseases and lesser affordability in middle- and low-income regions might limit their adoption and restrain market growth going ahead. In addition, less knowledge and awareness regarding advanced treatment approaches and lower adoption of advanced technologies might further hamper market growth over the forecast period. 

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