Lateral Flow Assays Market Size to Value at USD 11.66 Billion in 2028, Noted Reports and Data

Increasing awareness regarding home healthcare and point-of-care is driving the market revenue growth

The global lateral flow assays market size is expected to reach USD 11.66 billion by 2028 at a CAGR of 4.6%, according to the latest report by Reports and Data. The lateral flow assay market revenue is expected to grow over the forecast period owing to various driving factors including increasing geriatric population, rising prevalence of multiple chronic conditions, growing incidence of infectious diseases, soaring demand for point-of-care testing, and growing awareness regarding home health care and point-of-care worldwide. Additionally, several players in the emerging market have advanced healthcare infrastructure along with modern technology product, which is another factor predicted to create lots of opportunities for the market revenue growth going ahead.

Lateral flow assay aids in detecting specific antigens and antibodies and products of gene amplification. Several liquid samples can be tested using lateral flow assay techniques including saliva, urine, sweat serum plasma, whole blood, etc. These tests are being conducted for medical diagnostics and with the lateral flow assay techniques, they provide instantaneous diagnosis directly to patients.

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Further key findings in the report

  • Sandwich assays segment is predicted to hold the highest revenue share in the market going ahead. Large revenue share of this segment is attributed to the better assay sensitivity and specificity associated with sandwich assays and its wide application in the measurement of critical analytes including cardiac and hepatitis markers.

 

  • The kits & reagents segment registered largest revenue share in the market in 2020. Large revenue growth of this segment is resultant of factors, such as growing adoption of lateral flow assay-based test kits due to their benefits over conventional laboratory tests and rising spread of several chronic and infectious diseases globally.

 

  • Asia pacific market is predicted to register the highest revenue CAGR going ahead owing to various governmental initiatives, advancing healthcare infrastructure, and increasing demand for quality care at affordable prices.
  • Leading companies operating in the lateral flow assays market include Danaher Corporation (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux SA (France), Thermo Fisher Scientific, Inc. (U.S.), Hologic Inc. (U.S.), QIAGEN N.V. (Netherlands), PerkinElmer Inc. (U.S.), Quidel Corporation (U.S.), Merck KGaA (Germany), and Abcam plc (UK).

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For the purpose of this report, Reports and Data has segmented the global lateral flow assays market on the basis of product, application, technique, sample type, end user, and region:

Product Outlook (Revenue, USD Billion, 2018 - 2028)

  • Kits & Reagents
  • Lateral Flow Readers
    • Digital/Handheld Readers
    • Benchtop Readers
    • Mobile/Smartphone Readers

Application Outlook (Revenue, USD Billion, 2018 - 2028)

  • Clinical Testing
    • Infectious Disease Testing
      • Mosquito-borne Diseases
      • Covid-19
      • Influenza
      • Sexually Transmitted Infections
        • HIV
        • HPV
        • Chlamydia
        • Gonorrhea
        • Syphilis
        • Other Sexually Transmitted Infections
      • Hepatitis
      • Tuberculosis
      • Other Infectious Diseases
    • Cardiac Marker Testing
      • Troponin I and T Testing
      • CK-MB Testing
      • BNP or NT-proBNP Testing
      • Myoglobin Testing
      • D-Dimer Testing
      • Other Cardiac Markers
    • Pregnancy & Fertility Testing
      • Pregnancy Testing
      • Fertility Testing
    • Cholesterol Testing/Lipid Profiles
    • Drugs-of-Abuse Testing
  • Veterinary Diagnostics
  • Food Safety & Environment Testing
  • Drug Development & Quality Testing

Technique Outlook (Revenue, USD Billion, 2018 - 2028)

  • Sandwich Assays
  • Competitive Assays
  • Multiplex Detection Assays 

Sample Type Outlook (Revenue, USD Billion, 2018 – 2028)

  • Blood Samples
  • Urine Samples
  • Saliva Samples
  • Other Samples 

 

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End User Outlook (Revenue, USD Billion, 2018 - 2028)

  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Home Care Settings
  • Pharmaceutical & Biotechnology Companies
  • Other End Users 

Regional Outlook (Revenue, USD Billion, 2018 - 2028)

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • BENELUX
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
  • MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

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