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Global Lateral Flow Assays Market Size, Share, Trends, Analysis: By Product: Kits & Reagents, Lateral Flow Readers; By Technique: Sandwich Assays, Competitive Assays, Multiplex Detection Assays; By Application; By End User; Regional Analysis; Market Dynamics; Patent Analysis; Grants Analysis; Funding Analysis; Supplier Landscape; 2024-2032
Global Lateral Flow Assays Market Outlook
The global lateral flow assays market size was valued at USD 12.2 billion in 2023, driven by the increasing demand of medical diagnostic tests across the globe. The market is expected to grow at a CAGR of 3.5% during the forecast period of 2024-2032, with the values likely to rise from USD 12.6 billion in 2024 to USD 16.7 billion by 2032.
Lateral Flow Assay: Introduction
Lateral flow assay is a diagnostic device used to detect and quantify analyte (pathogen, antibody, or biomarker) in a human or animal. It is commonly used in COVID-19 antibody rapid tests, Pregnancy (HCG hormone) tests, HIV tests, and Hepatitis B virus (HBV) tests. Hospitals and clinical labs widely rely on lateral flow assays as they are easy to use, portable, available at affordable process and provide immediate results. It shows qualitative test results via visual inspection under 30 minutes.
There are two types of lateral flow assays, categorised on the types of molecules to be identified. First is the non-competitive or sandwich test, used for macromolecular analytes (substance to analysed in a sample). It has two antigen binding sites and is commonly used in pregnancy tests. Second type is a competitive test, which is mostly used for drug tests and has less than two antigen binding sites.
Global Lateral Flow Assays Market Analysis
With the Covid 19 outbreak, the concept of rapid tests has gained acceptance with the common people. With the aim to inhibit further contamination, governments have also worked to spread awareness and promote using rapid tests at home itself. Hence, the market for lateral flow assays has increased exponentially in a very short span of time. With a high demand, healthcare companies have also brought significant changes to the pre-existing models to make it more user-friendly and accurate.
The world human population reached 8 billion in November 2023. It is estimated to increase by another 2 billion in the next 30 years and hit approximately 9.7 billion in 2050s . As the population keeps growing at a steady pace, pregnancy cases are also rising. With this the global market for lateral flow assays is observing a surge with the escalated demand of pregnancy detection kits.
Apart from clinical and drug testing, lateral flow assays are also relevant in food safety and environment testing. It is used to detect various food pathogens, drug residues, food additives and other illegal additives, etc. With a greater emphasis on consuming unadulterated and contamination-free food, the lateral flow assay market development can be expected in the food industry as well.
Global Lateral Flow Assays Market Segmentation
Market Breakup by Product
- Kits and Reagents
- Lateral Flow Readers
Market Breakup by Technique
- Sandwich Assays
- Competitive Assays
- Multiplex Detection Assays
Market Breakup by Application
- Clinical Testing
- Veterinary Diagnostics
- Food Safety and Environment Testing
- Drug Development and Quality Testing
Market Breakup by End User
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care
- Pharmaceutical and Biotechnology Companies
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Lateral Flow Assays Market Overview
Conventional lateral flow assay mechanism has shown remarkable performance in pregnancy tests and for COVID 19 tests, owing to its simplicity, promptness, and visual representation in the results. Yet, researchers and scientists are on the look out to bring an improved version of the detection kits. The results are measured by the colour changes and are easily readable by the naked eyes. However, they lack the qualitative analysis and sensitivity, which might hinder its use in other applications. To combat this, there has been further development of new nanomaterials to enhance LFA sensitivity. With ongoing advancements, the global lateral flow assays market share will expand further in the coming years.
In the historical period, most of the market share has been dominated by the North American territory, credits to their impressive investments in the healthcare industry. But a market shift can be anticipated towards the Asian region. This is because the Asian region is likely to experience the greatest increase in the number of pregnancies in the following years. As a result, demand for pregnancy kits will be higher.
Global Lateral Flow Assays Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Thermo Fisher Scientific, Inc.
- Abbott
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche AG
- Quidel Corporation
- bioMérieux SA
- PerkinElmer, Inc.
- Hologic, Inc.
- Merck KGaA
- Siemens Healthineers
- Danaher Corporation
- QIAGEN N.V.
- BD
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Technique |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Lateral Flow Assays Market Overview
3.1 Global Lateral Flow Assays Market Historical Value (2017-2023)
3.2 Global Lateral Flow Assays Market Forecast Value (2024-2032)
4 Global Lateral Flow Assays Market Landscape
4.1 Global Lateral Flow Assays Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Lateral Flow Assays Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Technique
4.2.3 Analysis by Application
5 Global Lateral Flow Assays Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Lateral Flow Assays Market Segmentation
6.1 Global Lateral Flow Assays Market by Product
6.1.1 Market Overview
6.1.2 Kits & Reagents
6.1.3 Lateral Flow Readers
6.2 Global Lateral Flow Assays Market by Technique
6.2.1 Market Overview
6.2.2 Sandwich Assays
6.2.3 Competitive Assays
6.2.4 Multiplex Detection Assays
6.3 Global Lateral Flow Assays Market by Application
6.3.1 Market Overview
6.3.2 Clinical Testing
6.3.3 Veterinary Diagnostics
6.3.4 Food Safety & Environment Testing
6.3.5 Drug Development & Quality Testing
6.4 Global Lateral Flow Assays Market by End User
6.4.1 Market Overview
6.4.2 Hospitals & Clinics
6.4.3 Diagnostic Laboratories
6.4.4 Home Care
6.4.5 Pharmaceutical & Biotechnology Companies
6.4.6 Others
6.5 Global Lateral Flow Assays Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Lateral Flow Assays Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Lateral Flow Assays Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Lateral Flow Assays Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Lateral Flow Assays Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Lateral Flow Assays Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Thermo Fisher Scientific, Inc.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Abbott
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Bio-Rad Laboratories, Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 F. Hoffmann-La Roche AG
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Quidel Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 bioMérieux SA
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 PerkinElmer, Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Hologic, Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Merck KGaA
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Siemens Healthineers
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Danaher Corporation
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 QIAGEN N.V.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 BD
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Lateral Flow Assays Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 12.2 billion in 2023, driven by the increasing demand of medical diagnostic tests across the globe.
The market is anticipated to grow at a CAGR of 3.5% during the forecast period of 2024-2032, likely to reach a market value of USD 16.7 billion by 2032.
Lateral flow assays are affordable, easy to use, carry and provides instant test results. Hence, people prefer it in pregnancy detection and rapid antibody test for COVID-19. This has been a major factor for the rising market demand.
Sudden outbreak COVID-19 has led to an increase in the global market size. The North American region has held maximum market share in the historical period. However, the Asian region is expected to observe a growth.
Lateral flow assays consist of kits, reagents, and lateral flow readers.
It is used in clinical testing, veterinary diagnostics, food safety and environment testing, along with drug development and quality testing.
Sandwich assays, competitive assays and multiplex detection assays are used in lateral flow assays.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
The end users in the market include hospitals and clinics, diagnostic laboratories, home care, pharmaceutical and biotechnology companies, and others.
Key players involved in the market are Thermo Fisher Scientific, Inc., Abbott, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Quidel Corporation, bioMérieux SA, PerkinElmer, Inc., Hologic, Inc., Merck KGaA, Siemens Healthineers, Danaher Corporation, QIAGEN N.V., and BD.
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