The Global Lateral Flow Assay Market to Register Immense Growth at a CAGR of ~5% by 2027 | DelveInsight

The lateral flow assay market is expanding due to the increasing incidence of infectious diseases such as the COVID-19 outbreak and the increasing cases of pregnancy testing around the world. Furthermore, rapid technological advancements in the immunodiagnostic product arena, a rapidly aging population, rising demand for point-of-care testing, and rising consumer awareness about quick diagnostics, among other factors, are driving the lateral flow assay market growth.

New Delhi, INDIA


New York, USA, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The Global Lateral Flow Assay Market to Register Immense Growth at a CAGR of ~5% by 2027 | DelveInsight

The lateral flow assay market is expanding due to the increasing incidence of infectious diseases such as the COVID-19 outbreak and the increasing cases of pregnancy testing around the world. Furthermore, rapid technological advancements in the immunodiagnostic product arena, a rapidly aging population, rising demand for point-of-care testing, and rising consumer awareness about quick diagnostics, among other factors, are driving the lateral flow assay market growth.

DelveInsight’s Lateral Flow Assay Market Insights report provides the current and forecast market analysis, individual leading lateral flow assay companies’ market shares, challenges, lateral flow assay market drivers, barriers, and trends, and key lateral flow assay companies in the market.

Key Takeaways from the Lateral Flow Assay Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global lateral flow assay market during the forecast period. 
  • Notable lateral flow assay companies such as Abbott, Quidel Corporation, Danaher, Siemens Healthineers, F. Hoffman-La Roche AG, LumiraDx, Becton, Dickinson and Company, Eurofins Technologies, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Hologic, Inc., PerkinElmer Inc., QIAGEN, Merck KGaA, OPERON, Abingdon Health, DIALUNOX, 3B BlackBio Biotech India Ltd., ADS Biotec Inc. (ADSTEC), and several others are currently operating in the lateral flow assay market.
  • On August 25, 2021, Becton, Dickinson, and Company received the US FDA Emergency Use Authorization (EUA) for the BD Veritor™ At-Home COVID-19 Test — the first at-home COVID-19 rapid antigen test to use computer vision technology in a smartphone to interpret and provide a digital display of testing results. 

To read more about the latest highlights related to the lateral flow assay market, get a snapshot of the key highlights entailed in the Global Lateral Flow Assay Market Report

Lateral Flow Assay Overview

Lateral flow assays (LFA) are techniques for detecting the presence (or absence) of a target analyte in a sample (matrix). These assays are commonly used in hospitals and clinical laboratories to detect specific antigens and antibodies, both qualitatively and quantitatively. In addition, lateral flow assay kits are used to test for infectious diseases, cardiac markers, pregnancy and fertility, cholesterol testing/lipid profiling, and drug abuse in a timely manner. They are also used for food and beverage testing.


Lateral Flow Assay Market Insights

North America is expected to account for the largest share of the global lateral flow assay market share among all regions. Factors such as the region’s growing infectious disease burden, rising demand for technologically advanced point-of-care diagnostics platforms, and increased awareness for early detection, among others, are expected to contribute to the growth of the North American lateral flow assay market.

In addition, the presence of global and regional manufacturers such as Qiagen, Roche, Abbott, and others involved in developing the lateral flow assay product will boost the lateral flow assay market. Furthermore, improving healthcare infrastructure and government initiatives to raise awareness about lateral flow assay will contribute to the growth of the lateral flow assay market in these regions.

Moreover, the increased emphasis on product development activities and device manufacturers’ keen interest in entering local markets contribute to the growth of regional lateral flow assay markets. As a result of the interaction of various factors, such as the presence of a large patient population, encouraging reimbursement policies, and new product launches in the region, the North American lateral flow assay market is expected to grow during the forecast period.

To know more about why North America is leading the market growth in the lateral flow assay market, get a snapshot of the Lateral Flow Assay Market Outlook 

Lateral Flow Assay Market Dynamics

The lateral flow assay market is experiencing increased product demand for a variety of reasons, one of which is the global rise in infectious disease cases. The onset of the COVID-19 pandemic and the urgency felt for the need for diagnostic tests to contain the spread of the COVID-19 infection is another factor driving the growth of the lateral flow assay market. The SARS-COV-2 virus’s high virulence caused widespread panic and resulted in various stages of lockdown around the world. This created an urgent need for diagnostic methods and kits for detecting the SARS-COV-2 virus to design better care for both infected and uninfected people.

Furthermore, technological advancements resulted in the development of numerous rapid antigen tests to meet the need for reliable novel diagnostic kits to meet the pandemic’s urgency, positively impacting the lateral flow assay market growth during the forecast period (2022–2027).

However, difficulties in developing accurate diagnostic tests and equipment and variations in test results may be limiting factors in the lateral flow assay market growth.

Get a sneak peek at the lateral flow assay market dynamics @ Lateral Flow Assay Market Dynamics Analysis

Report MetricsDetails
CoverageGlobal
Study Period2019–2027
Base Year2021
Lateral Flow Assay Market CAGR~5%
Projected Lateral Flow Assay Market Size by 2027USD 12.15 Billion
Key Lateral Flow Assay CompaniesAbbott, Quidel Corporation, Danaher, Siemens Healthineers, F. Hoffman-La Roche AG, LumiraDx, Becton, Dickinson and Company, Eurofins Technologies, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Hologic, Inc., PerkinElmer Inc., QIAGEN, Merck KGaA, OPERON, Abingdon Health, DIALUNOX, 3B BlackBio Biotech India Ltd., ADS Biotec Inc. (ADSTEC), among others

Lateral Flow Assay Market Assessment

  • Lateral Flow Assay Market Segmentation
    • Market Segmentation By Product: Readers [Bench-Top Readers, Digital/Mobile Readers], Kits & Reagents), By Technique (Sandwich Assays, Competitive Assays, Multiplex Detection Assays)
    • Market Segmentation By Application: Clinical Testing (Pregnancy Testing, Infectious Diseases Testing, Cardiac Marker Testing, Others), Drug Development & Quality Testing, Others
    • Market Segmentation By End User: Hospitals & Clinics, Home Care, Others
    • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the lateral flow assay market are set to emerge as the trendsetter explore @ Lateral Flow Assay Companies 

Table of Contents 

1Report Introduction
2Executive summary
3Regulatory and Patent Analysis
4Key Factors Analysis
5Porter’s Five Forces Analysis
6COVID-19 Impact Analysis on Lateral Flow Assay Market
7Lateral Flow Assay Market Layout
8Global Company Share Analysis – Key 3-5 Companies
9Lateral Flow Assay Market Company and Product Profiles
10Project Approach
11About DelveInsight

Interested in knowing the lateral flow assay market by 2027? Click to get a snapshot of the Lateral Flow Assay Market Trends

Related Reports

Clinical Diagnostics Market

Clinical Diagnostics Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key clinical diagnostics companies, including  Abbott, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., among others.

In Vitro Diagnostics Market

In Vitro Diagnostics Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key in vitro diagnostics companies, including  F. Hoffmann-La Roche Ltd, Abbott, FUJIFILM Corporation, Sysmex Corporation, Siemens Healthcare GmbH, BD, Seegene Inc, among others.

Cancer Diagnostics Market

Cancer Diagnostics Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key cancer diagnostics companies, including  Pillar Biosciences, Inc., Hologic Inc., CD Genomics, Natera, Inc., Agendia Inc., Biodesix Inc., INOVIQ  Ltd., among others.

Liquid Biopsy in Cancer Diagnostics Market

Liquid Biopsy in Cancer Diagnostics Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key liquid biopsy in cancer diagnostics companies, including Myriad Genetics Inc, Exact Sciences Corporation, Biocartis, Sysmex Corporation, among others.

COVID-19 Pipeline

COVID-19 Pipeline Insight – 2023 report provides comprehensive insights about the pipeline landscape, pipeline drug profiles, including clinical and non-clinical stage products, and the key COVID-19 companies, including Chiesi Farmaceutici S.p.A., Clene Nanomedicine, Codagenix, Debiopharm, Direct Biologics, Eiger BioPharmaceuticals, Emergent Biosolutions, Enlivex Therapeutics, Evergreen Therapeutics, Faron Pharmaceuticals, among others.

Other Trending Reports

Treatment Resistant Depression Market | Advanced Renal Cell Carcinoma Market | Brain Cancer Market | Centronuclear Myopathy Market | Head And Neck Squamous Cell Carcinoma Market | Acquired Immunodeficiency Syndrome Market | Acute Intermittent Porphyria Market | Neurovascular Devices Market | Defibrillators Market | Ventricular Hypertrophy Market | Urolithiasis Market | Alopecia Areata Market | Autonomic Dysfunction Market | Acute Ischemic Stroke Ais Market | Adenoid Cystic Carcinoma Market | Aspergillosis Market | Biliary Atresia Market | Biliary Tumor Market | Chronic Inducible Urticaria Market | Chronic Insomnia Market | Critical Limb Ischemia Market | Endometriosis Pain Market | Generalized Anxiety Disorder Gad Market | Hallux Valgus Market | Hemophilia B Market | Immunologic Deficiency Syndrome Market | Neuroblastoma Market | Neuromodulation Devices Market | Neurovascular Thrombectomy Devices Market | Osteosarcoma Market | Pemphigus Vulgaris Market | Progressive Familial Intrahepatic Cholestasis Market | Pruritus Market | Radiation Toxicity Market | Pulmonary Hypertension Associated With Interstitial Lung Disease Market | Cluster Headaches Market | Foot And Ankle Devices Market

Related Healthcare Services

Healthcare Consulting

Healthcare Competitive Intelligence Services

Healthcare Asset Prioritization Services

About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.  

 

Contact Data