The global lateral flow assays market value was US$ 8,341.30 million in 2020. The global lateral flow assays market value is forecast to reach US$ 13,342.90 million by 2030, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2021-2030.
A lateral flow assay (LFA), also known as an immunochromatographic assay, is a technique that detects the presence (or absence) of analytes in a sample (matrix). Various clinical laboratories and hospitals use these assays extensively for detecting antigens and antibodies in a qualitative and quantitative manner. In addition, lateral flow assay kits allow rapid detection of infectious diseases, cardiac markers, pregnancy & fertility, cholesterol testing, lipid profiling, and drug abuse.
Factors Influencing Market Growth
Factors driving the growth of the global lateral flow assays market include the spread of chronic diseases and various infections, the expansion of home-based kits, government initiatives for promoting health awareness, increased adoption of point-of-care tests, and advantages of LFA rapid tests over laboratory tests.
Regulators' strict and time-consuming requirements for assays to detect the presence or absence of an analyte and unwillingness of patients to change existing medical practices may slow down the global market growth.
Advances in technology and increasing applications of lateral flow assay tests in clinical diagnostics create lucrative growth opportunities for the global lateral flow assays market.
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, the lateral flow assays (LFA) market has experienced significant growth. Worldwide, the use of LFA-based tests to diagnose COVID-19 infections is increasing because the test kits have demonstrated their ability to detect both symptomatic and asymptomatic infections. Since LFA-based devices are inexpensive and don't require trained personnel to perform, they are increasingly popular. Among other detection methods, LFA devices have the potential to detect symptomatic and asymptomatic COVID-19 infections. Additionally, LFA-based tests can diagnose COVID-19 disease at various stages in a patient. Therefore, LFA-based tests influence medical and economic decisions for countries dealing with the COVID-19 pandemic or preparing for a third wave.
Regional Insights
Geographically, North America held dominance in the global lateral flow assays market by revenue in 2020. Streamlined lateral flow assays have become readily available and highly affordable due to their ease of use and affordability. COVID-19, influenza, and RSV are also driving the need for detection and treatment in the region. In addition, the well-established healthcare infrastructure of this region, and government funding for research, are likely to help drive the market growth for lateral flow assays.
Over the forecast period, Asia Pacific is forecast to grow at the fastest rate. Due to the high prevalence of chronic and infectious diseases in Asian countries and the emergence of new players, demand is likely to rise for this regional market. Additionally, a rise in approvals for different infectious disease tests is forecast to boost the market growth in the next few years.
Leading Competitors
The leading prominent companies profiled in the global lateral flow assays market are:
Abbott
Becton, Dickinson, and Company
Biomrieux SA
Bio-rad Laboratories, Inc.
Danaher Corporation
F. Hoffmann-La Roche AG
Hologic, Inc.
Merck KGAA
Perkinelmer, Inc.
Qiagen N.V
Quidel Corporation
Siemens Healthineers
Thermo Fisher Scientific, Inc.
Other Prominent Players
Scope of the Report
The global lateral flow assays market segmentation focuses on Technique, Product, Application, End-User, and Region.
Segmentation based on Technique
Sandwich Assays
Competitive Assays
Multiplex Detection Assays
Segmentation based on Product
Kits & Reagents
Lateral Flow Readers
o Digital/Mobile Readers
o Benchtop Readers
o Mobile/Smartphone Readers
Segmentation based on Application
Clinical Testing
o Infectious Disease Testing
o Cardiac Marker Testing
o Pregnancy & Fertility Testing
o Cholesterol Testing/Lipid Profile
o Drug Abuse Testing
o Other Clinical Tests
Veterinary Diagnostics
Food Safety & Environment Testing
Drug Development & Quality Testing
Segmentation based on End-User
Hospitals & Clinics
Diagnostic Laboratories
Home Care
Pharmaceutical & Biotechnology Companies
Others
Segmentation based on Region
North America
o The U.S.
o Canada
o Mexico
Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
South America
o Brazil
o Argentina
o Rest of South America

Meta Title: Lateral Flow Assays Market Share, Size, Trends and Forecast Till 2030
Meta Description: The global lateral flow assays market value is forecast to reach US$ 13,342.90 million by 2030, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2021-2030.
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