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Lateral Flow Assays - Global Strategic Business Report

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    Report

  • 461 Pages
  • December 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805627
The global market for Lateral Flow Assays is estimated at US$10.3 Billion in 2023 and is projected to reach US$14.7 Billion by 2030, growing at a CAGR of 5.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the Lateral Flow Assays market is driven by several factors, including technological advancements, increasing demand for point-of-care testing, and evolving consumer behavior. Technological innovations, such as the integration of smartphone-based readers and digital platforms, have significantly enhanced the functionality and user experience of LFAs. These advancements enable better data management, remote monitoring, and real-time result sharing with healthcare providers. The rising prevalence of chronic and infectious diseases has also spurred demand for rapid and reliable diagnostic tools that can be used outside traditional healthcare settings. Consumer behavior is shifting towards more proactive health management, with individuals seeking convenient and accessible testing options. Additionally, regulatory support and government initiatives promoting the development and adoption of point-of-care diagnostics are accelerating market growth. Collaborations between diagnostic companies and research institutions are fostering innovation, leading to the development of next-generation LFAs with improved performance and expanded capabilities. These factors collectively ensure the robust growth and ongoing evolution of the LFA market.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Lateral Flow Assay Kits & Reagents segment, which is expected to reach US$12.3 Billion by 2030 with a CAGR of a 5.3%. The Lateral Flow Readers segment is also set to grow at 4.4% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $3.8 Billion in 2023, and China, forecasted to grow at an impressive 7.5% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Lateral Flow Assays Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Lateral Flow Assays Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Lateral Flow Assays Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Merck KGaA, Hologic, Inc., Danaher Corporation, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 55 Featured):

  • Merck KGaA
  • Hologic, Inc.
  • Danaher Corporation
  • Polysciences, Inc.
  • Iul, S.A.
  • ANP Technologies, Inc.
  • Bioporto Diagnostics A/S
  • Abingdon Health Ltd.
  • BBI Solutions
  • IMMY
  • Creative Diagnostics
  • Pribolab Pte., Ltd.
  • DCN Diagnostics
  • Microcoat Biotechnologie GmbH
  • DIALUNOX GmbH

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Lateral Flow Assays - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • GLOBAL MARKET OVERVIEW
  • A Prelude to Lateral Flow Technology
  • Lateral Flow Assays: An Introduction
  • Lateral Flow Assays: A Mighty, Paper-based Diagnostics Approach
  • Lateral Flow Assays Market Appears Poised to Experience Uninterrupted Flow Ahead
  • Clinical Testing Remains Primary Application Segment of Lateral Flow Assays Market
  • Rising Incidence of Infectious Conditions Ignite Demand
  • LFA Overcomes Testing Barriers
  • Emerging Applications Present Lucrative Opportunities
  • The US Retains Leadership Tag in Global Lateral Flow Assays Market
  • Competitive Scenario
  • Market Outlook
  • RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Incidence of Infectious Diseases to Drive LFA Market
  • Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)
  • Global TB Cases (In Millions) Reported to Have Been Treated for the Years 2015-2019
  • Greater Number of Tests for HIV and Sexually Transmitted Diseases Amplify Growth
  • Rapid HIV Tests: A New Age Diagnostic Weapon against the Killer Disease
  • Home HIV Testing Emerges as a Lucrative Option
  • Viral Hepatitis Testing Presents Opportunities for Lateral Flow Assays Market
  • Hepatitis B prevalence Worldwide by Region
  • Uptrend in Healthcare Spending Creates Fertile Environment
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
  • Ageing Demographics to Drive Demand
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Self-Diagnosis Emerge as Notable Trend
  • New Approvals of Self-Test Devices to Give a Boost to the Market
  • Lateral Flow Assays Hold Rosy Outlook with Emerging Applications Areas
  • LFAs Gains Foothold in Multiplexing
  • Multiplexed Point-Of-Care Testing
  • Remote Healthcare Benefits Lateral Flow Assays Market
  • Lateral Flow Assays to Become Landmark Approach in Precision Diagnostics
  • Lateral Flow Assays & Precision Diagnostics
  • Digitalization of Lateral Flows to Support Healthcare
  • Digitalized Lateral Flow Assays: An Exciting Platform to Change Data-Driven Healthcare Domain
  • Lateral Flow Assays Emerge as Integral Components of Food Safety & Environmental Testing
  • Novel Lateral Flow Assay Marks Shift from Reactive to Proactive Food Safety Testing Approach
  • Technological Advancements Remain Crucial to Future Growth
  • Researchers Develop Novel Technique to Significantly Increase Accuracy of Lateral Flow Tests
  • Smartphone-based Fully-Quantitative Lateral Flow Assay Analyzer for Reliable & Quick Diagnosis
  • Innovative Lateral Flow Immunoassays Find Increasing Role in Detection of Dengue & Zika Virus
  • Abingdon Health Introduced ADxLR5® Developer for Assay Development
  • Rapid Tests Connectivity with Wireless Data Platforms
  • Miniaturization of Analytical Instruments Presents Lucrative Opportunities for Handheld Lateral Flow Assay Readers
  • Low Accuracy Remains a Major Restraint
  • Limited Reimbursement & Raw Material Supply Issues as Key Challenges
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Lateral Flow Assays by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Lateral Flow Assays by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Lateral Flow Assays by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Kits & Reagents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Kits & Reagents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Kits & Reagents by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Lateral Flow Readers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Lateral Flow Readers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Lateral Flow Readers by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Clinical Testing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Clinical Testing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Clinical Testing by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Veterinary Diagnostics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Veterinary Diagnostics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Veterinary Diagnostics by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Hospitals & Clinics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Hospitals & Clinics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Hospitals & Clinics by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Diagnostic Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Diagnostic Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Diagnostic Laboratories by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Pharma & Biotech Companies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Pharma & Biotech Companies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 27: World 16-Year Perspective for Pharma & Biotech Companies by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 29: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 30: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 31: World Lateral Flow Assays Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
BRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
AFRICA
  • Lateral Flow Assays Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned

  • Merck KGaA
  • Hologic, Inc.
  • Danaher Corporation
  • Polysciences, Inc.
  • Iul, S.A.
  • ANP Technologies, Inc.
  • Bioporto Diagnostics A/S
  • Abingdon Health Ltd.
  • BBI Solutions
  • IMMY
  • Creative Diagnostics
  • Pribolab Pte., Ltd.
  • DCN Diagnostics
  • Microcoat Biotechnologie GmbH
  • DIALUNOX GmbH

Table Information