The global lateral flow assay market size reached US$ 10.4 Billion in 2023. Looking forward, the market is expected to reach US$ 15.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2023-2032.
Lateral flow assay (LFA) is a paper-based platform that detects and quantifies analytes in complex mixtures. It assists in testing biological samples of saliva, urine, sweat, serum, plasma, blood, and other fluids. As a result, it is widely employed in hospitals and clinical laboratories for the qualitative and quantitative detection of specific agents, antibodies, and gene amplification. Besides this, as it also aids in producing low-cost, simple, rapid, and portable detection devices that are utilized in biomedicine, agriculture, food, and environmental sciences, LFA is gaining immense popularity across the globe.
LFA kits are convenient, smaller, portable, and can be controlled with minimal training. They act as a one-step assay that does not require washing steps, refrigeration, and pretreatment. They also faster test procedures that offer qualitative or semi-quantitative results, take a relatively short time for development, and allow the preparation of batches in advance.
Besides this, there is an increase in the prevalence of infectious diseases that require new diagnostic methods for effective treatment. This, along with the significantly rising awareness programs to enhance the spread of infections, diagnosis, and prevention, is contributing to market growth. Furthermore, leading players are introducing novel signal enhancement techniques and improving quantification systems and simultaneous detection, which is creating a favorable market outlook.
2. What is the expected growth rate of the global lateral flow assay market during 2024-2032?
3. What are the key factors driving the global lateral flow assay market?
4. What has been the impact of COVID-19 on the global lateral flow assay market?
5. What is the breakup of the global lateral flow assay market based on the technique?
6. What is the breakup of the global lateral flow assay market based on the product?
7. What is the breakup of the global lateral flow assay market based on the application?
8. What is the breakup of the global lateral flow assay market based on the end user?
9. What are the key regions in the global lateral flow assay market?
10. Who are the key players/companies in the global lateral flow assay market?
Lateral flow assay (LFA) is a paper-based platform that detects and quantifies analytes in complex mixtures. It assists in testing biological samples of saliva, urine, sweat, serum, plasma, blood, and other fluids. As a result, it is widely employed in hospitals and clinical laboratories for the qualitative and quantitative detection of specific agents, antibodies, and gene amplification. Besides this, as it also aids in producing low-cost, simple, rapid, and portable detection devices that are utilized in biomedicine, agriculture, food, and environmental sciences, LFA is gaining immense popularity across the globe.
Lateral Flow Assay Market Trends:
Due to the coronavirus disease (COVID-19) outbreak, there is a rise in the need for an alternative of sending patient samples to the laboratory. This, in confluence with the lack of extensive laboratory facilities or trained health workers to easily conduct polymerase chain reaction (PCR) tests, represents one of the key factors bolstering the growth of the market.LFA kits are convenient, smaller, portable, and can be controlled with minimal training. They act as a one-step assay that does not require washing steps, refrigeration, and pretreatment. They also faster test procedures that offer qualitative or semi-quantitative results, take a relatively short time for development, and allow the preparation of batches in advance.
Besides this, there is an increase in the prevalence of infectious diseases that require new diagnostic methods for effective treatment. This, along with the significantly rising awareness programs to enhance the spread of infections, diagnosis, and prevention, is contributing to market growth. Furthermore, leading players are introducing novel signal enhancement techniques and improving quantification systems and simultaneous detection, which is creating a favorable market outlook.
Key Market Segmentation:
This report provides an analysis of the key trends in each sub-segment of the global lateral flow assay market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on technique, product, application, and end user.Breakup by Technique:
- Sandwich Assays
- Competitive Assays
- Multiplex Detection Assays
Breakup by Product:
- Kits and Reagents
- Lateral Flow Readers
- Digital/Mobile Readers
- Benchtop Readers
Breakup by Application:
- Clinical Testing
- Infectious Disease Testing
- Cardiac Marker Testing
- Pregnancy and Fertility Testing
- Cholesterol Testing/Lipid Profile
- Drug Abuse Testing
- Others
- Veterinary Diagnostics
- Food Safety and Environment Testing
- Drug Development and Quality Testing
Breakup by End User:
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care
- Pharmaceutical and Biotechnology Companies
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Becton Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Hologic Inc., Merck KGAA, Perkinelmer Inc., Qiagen N.V., Quidel Corporation, Siemens Healthineers AG (Siemens AG) and Thermo Fisher Scientific Inc.Key Questions Answered in This Report
1. How big is the global lateral flow assay market?2. What is the expected growth rate of the global lateral flow assay market during 2024-2032?
3. What are the key factors driving the global lateral flow assay market?
4. What has been the impact of COVID-19 on the global lateral flow assay market?
5. What is the breakup of the global lateral flow assay market based on the technique?
6. What is the breakup of the global lateral flow assay market based on the product?
7. What is the breakup of the global lateral flow assay market based on the application?
8. What is the breakup of the global lateral flow assay market based on the end user?
9. What are the key regions in the global lateral flow assay market?
10. Who are the key players/companies in the global lateral flow assay market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Lateral Flow Assay Market
6 Market Breakup by Technique
7 Market Breakup by Product
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- Becton Dickinson and Company
- Biomérieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Hologic Inc.
- Merck KGAA
- Perkinelmer Inc.
- Qiagen N.V.
- Quidel Corporation
- Siemens Healthineers AG (Siemens AG)
- Thermo Fisher Scientific Inc
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 144 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 10.4 Billion |
| Forecasted Market Value ( USD | $ 15.5 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
