Europe Lateral Flow Assay Market Forecast to 2030 - Regional Analysis - by Product Type, Technique, Test Type, Application, and End User

The Europe lateral flow assay market was valued at US$ 2.55 billion in 2022 and is expected to reach US$ 4.82 billion by 2030; it is estimated to register a CAGR of 8.2% from 2022 to 2030.

Rising Popularity of Point-of-Care Testing Drives Europe Lateral Flow Assay Market

Lateral flow assay-based point-of-care (POC) diagnostic tools are rapid, easy-to-use, and low-cost paper-based procedures, which are specifically perceived to be beneficial in resource-limited settings and industrialized countries. These tests are increasingly replacing prolonged, conventional laboratory methods. No training and complex infrastructures are required to run POC diagnostic tests. Thus, these tests cost less than conventional laboratory diagnostic techniques. POC testing tools are expected to be a crucial revenue pocket in the lateral flow assay market because of their prominent role in combating the burgeoning disease burden. Many companies are engaged in developing innovative lateral flow assay-based POC devices for infectious disease diagnosis, drugs-of-abuse screening, pregnancy (using hCG levels) and ovulation confirmation, and blood protein marker measurement.

The rising popularity of POC testing and ongoing developments in lateral flow assay-based POC testing fuel the growth of the lateral flow assay market.

Europe Lateral Flow Assay Market Overview

Germany, the UK, France, Italy, and Spain are the major countries in Europe, including the rest of European countries. Germany held the largest market for lateral flow assay in the region in 2022. The growth of the lateral flow assay market in the region is attributed to factors such as the increasing geriatric population, the growing rate of accidents, and population growth in the region. Other major drivers include technological innovations and increasing demand for technologies in Germany, France, and the UK.

The pharmaceutical industry in Germany holds the global fourth largest position with small and mid-sized companies. According to the International Trade Administration (ITA), the pharmaceutical market in Germany accounted for US$ 62.5 billion in 2019 and will expect to increase in future. The country is likely to remain one of the most attractive destinations for the global pharmaceutical industry in the coming years in terms of manufacturing and supply. According to the ECDC's Annual epidemiological report, chlamydia infection, campylobacteriosis, salmonellosis, gonorrhea, and tuberculosis were the most frequently reported notifiable infectious diseases in the EU and The European Economic Area (EEA).

Europe Lateral Flow Assay Market Segmentation

The Europe lateral flow assay market is categorized into product type, technique, test type, application, end user, and country.

Based on product type, the Europe lateral flow assay market is bifurcated into kits & reagents and lateral flow readers. The kits & reagents segment held a larger Europe lateral flow assay market share in 2022.

In terms of technique, the Europe lateral flow assay market is segmented into sandwich assay, competitive assays, and multiplex detection assay. The sandwich assay segment held the largest Europe lateral flow assay market share in 2022.

By test type, the Europe lateral flow assay market is divided into lateral flow immunoassay and nucleic acid lateral flow assay. The lateral flow immunoassay segment held a larger Europe lateral flow assay market share in 2022.

Based on application, the Europe lateral flow assay market is categorized into clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing. The clinical testing segment held the largest Europe lateral flow assay market share in 2022.

By end user, the Europe lateral flow assay market is segmented into hospitals and clinics, diagnostics laboratories, homecare, veterinary clinics, pharmaceutical & biotechnology companies, and others. The hospitals and clinics segment held the largest Europe lateral flow assay market share in 2022.

By country, the Europe lateral flow assay market is segmented into the UK, Germany, France, Spain, Italy, Benelux, and the Rest of Europe. Germany dominated the Europe lateral flow assay market share in 2022.

F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Becton Dickinson and Co, PerkinElmer Inc, Hologic Inc, QIAGEN NV, bioMerieux SA, QuidelOrtho Corp, Abbott Laboratories, Merck KGaA, Bio-Rad Laboratories Inc, and Thermo Fisher Scientific Inc are some of the leading companies operating in the Europe lateral flow assay market.