PUBLISHER: The Business Research Company | PRODUCT CODE: 1760588
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760588
A lateral flow reader is a diagnostic tool that evaluates the results of lateral flow assays by employing optical detection techniques to deliver qualitative, semi-quantitative, or quantitative results. Its main function is to swiftly and accurately detect specific substances, such as pathogens or biomarkers, on test strips for use in medical diagnostics, environmental monitoring, and food safety.
The primary types of lateral flow readers are benchtop readers and handheld readers. Benchtop readers are compact devices designed to be placed on laboratory benches, used to analyze and interpret lateral flow assay results with high precision. These devices utilize various technologies, including colorimetric and fluorescence detection methods. They are sold through several distribution channels, such as direct sales, third-party distributors, and online platforms. Common applications for benchtop readers include fertility testing, infectious disease diagnostics, drug development, veterinary diagnostics, and more. Key users of these devices include hospitals, diagnostic laboratories, biotechnology and pharmaceutical companies, point-of-care settings, and other healthcare facilities.
The lateral flow reader market research report is one of a series of new reports from The Business Research Company that provides lateral flow reader market statistics, including the lateral flow reader industry global market size, regional shares, competitors with the lateral flow reader market share, detailed lateral flow reader market segments, market trends, and opportunities, and any further data you may need to thrive in the lateral flow reader industry. This lateral flow reader market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The lateral flow reader market size has grown rapidly in recent years. It will grow from $1.32 billion in 2024 to $1.47 billion in 2025 at a compound annual growth rate (CAGR) of 11.4%. The growth observed in the historical period can be attributed to several factors, including the increased use of lateral flow readers for pregnancy testing, a rise in veterinary diagnostics, broader application in food safety testing, the availability of more affordable readers, and a growing demand for rapid diagnostics.
The lateral flow reader market size is expected to see rapid growth in the next few years. It will grow to $2.24 billion in 2029 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period is expected to be driven by factors such as the increased use of lateral flow readers in infectious disease testing, the expansion of personalized medicine, a rising demand for non-laboratory testing, the growth of point-of-care (POC) testing, and a continued rise in veterinary diagnostics. Key trends during this period are expected to include integration with smartphone applications, cloud-based data storage, customizable software interfaces, enhanced optical sensors, and the adoption of fluorescence-based detection methods.
The growing adoption of home healthcare is expected to drive the lateral flow reader market's expansion. Home healthcare refers to the trend where patients receive medical care, monitoring, and treatment in their own homes rather than in traditional healthcare facilities. This shift is fueled by an increasing demand for more convenient, affordable, and personalized care, especially for elderly patients and those with chronic conditions. In home healthcare, lateral flow readers are used to quickly and accurately interpret diagnostic test results, enabling timely medical decisions without requiring a visit to a clinic. For example, in July 2024, the Australian Health and Welfare Institute reported that over the past decade, the number of older Australians using home care services increased by more than 200,000, with those opting for at-home care growing by 357%, from 57,000 to 258,000. As a result, the rise in home healthcare adoption will drive growth in the lateral flow reader market.
Companies in the lateral flow reader market are focusing on innovations such as the lateral flow test strip reader to improve accuracy, speed, usability, reduce costs, and allow for automation across various diagnostic fields. A lateral flow test strip reader analyzes lateral flow assays using optical detection methods to provide quantitative or semi-quantitative measurements of substances such as biomarkers or pathogens on test strips. For instance, in January 2022, Eurofins Abraxis launched the RapidScan ST5-W Lateral Flow Test Strip Reader, a device designed for in-process testing that requires semi-quantitative results. This product is aimed at industries such as food and feed manufacturing, grain trading, and environmental monitoring, where rapid and reliable contamination testing is critical.
In September 2022, Sapphiros, a US-based company specializing in lateral flow technology, acquired Flexotronix Limited for an undisclosed amount. This acquisition enables Sapphiros to incorporate Flexotronix's high-speed printed electronics technology to reduce consumable costs and fully automate diagnostic testing and data management across its product offerings. Flexotronix Limited, based in the UK, specializes in high-speed printed electronics, including lateral flow diagnostic test formats.
Major players in the lateral flow reader market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Merck KGaA, Siemens Healthineers, Becton Dickinson and Co, Hologic Inc., PerkinElmer Inc., Quidelortho Corp, QIAGEN, Hamamatsu Photonics, Molbio Diagnostics, Gold Standard Diagnostics, VICAM, OPERON, Abingdon Health, Eurofins Technologies, DH Life Sciences LLC, IUL Instruments, BioAssay Works LLC.
North America was the largest region in the lateral flow reader market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in lateral flow reader report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the lateral flow reader market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The lateral flow reader market consists of revenues earned by entities by providing services such as IoT-enabled device monitoring and management, automated quality control and calibration tools, and maintenance and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The lateral flow reader market also includes sales of smartphone-based readers and apps, colorimetric readers, USB-connected strip readers, and software platforms for data analysis and management. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lateral Flow Reader Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on lateral flow reader market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lateral flow reader ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lateral flow reader market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.