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Lateral Flow Assays Market

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 12.63 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 13.07 billion in 2024 to USD 17.21 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:

  • Product
  • Technique
  • Application
  • End User
  • Region
Breakup by Product
  • Kits and Reagents
  • Lateral Flow Readers
Breakup by Technique
  • Sandwich Assays
  • Competitive Assays
  • Multiplex Detection Assays
Breakup by Application
  • Clinical Testing
  • 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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • 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

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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 12.63 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 17.21 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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