Lateral Flow Assay Market Report: Trends, Forecast and Competitive Analysis to 2030

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.

A more than 150-page report is developed to help in your business decisions.

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
• Biomerieux
• 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
• Biomerieux
• 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?