Rising prevalence of infectious diseases globally is driving revenue growth of the market
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. Rising consumption rate for home-based lateral flow testing solutions and products, and growing requirement of better point-of-care testing products are a few major factors driving the revenue growth of the lateral flow assays market.
Lateral flow assay involves antibodies and probe DNA biochemical interaction. This diagnostic method ensures simplified test with low costs and no requirement of any interference while the test is being conducted. Moreover, the test can also be easily conducted by non-trained individuals due to its highly user-friendly form of testing.
Increasing geriatric population leads to rising prevalence of different types of infectious diseases across the globe, which is one of the most crucial factors expected to propel the revenue growth of the lateral flow assays market during the forecasted period.
Key companies profiled in the report include
- Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Abbott Laboratories (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), Rad Laboratories (U.S.), bioMérieux SA (France), Bio Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer Inc. (U.S.), QIAGEN N.V. (Netherlands), Quidel Corporation (U.S.), Hologic Inc. (U.S.), Merck KGaA (Germany), Abcam plc (UK).
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Lateral Flow Assays market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Lateral Flow Assays Market Segmentation based on Types:
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
End User Outlook (Revenue, USD Billion, 2018 - 2028)
- Hospitals Clinics
- Diagnostic Laboratories
- Home Care Settings
- Pharmaceutical Biotechnology Companies
- Other End Users
Further key findings in the report
- The clinical testing segment is expected to hold largest revenue share in the market during the forecast period due to its significance in disease detection along with a sharp rise in the incidence of different types of infectious diseases.
- The food safety environment testing segment is predicted to register highest revenue share in the lateral flow assays market going ahead. Increasing revenue growth of this segment is attributed to growing demand for lateral flow assays as well as rapid alternatives to various traditional diagnostic methods, especially for detecting foodborne pathogens and contaminants.
- The market in North America is expected to account for the largest revenue share in the global lateral flow assays market during the forecast period. Large revenue share of this regional market is resultant of presence of several hospitals and healthcare systems and the increasing geriatric population in the region.
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