Lateral Flow Assays Market Growth Opportunities Forecast to 2028
Posted by rutikashete on June 15th, 2021
Rising prevalence of infectious diseases globally is driving revenue growth of the market
Market Size – USD 8.2 Billion in 2020, Market Growth – at a CAGR of 4.6%, Market Trends –Growing demand for point-of-care testing products
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.
However, lack of preference from consumers to shift from conventional diagnostic testing methods and adopting advanced methods is one of the significant factors predicted to restrain the market revenue growth to a certain extent between 2021 & 2028.
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.
- Major companies operating in the market are F. 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).
For the purpose of this report, Reports and Data has segmented the global lateral flow assays market on the basis of product, application, technique, sample type, end user, and region:
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
- Sexually Transmitted Infections
- Other Sexually Transmitted Infections
- 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
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End User Outlook (Revenue, USD Billion, 2018 - 2028)
- Hospitals & Clinics
- Diagnostic Laboratories
- Home Care Settings
- Pharmaceutical & Biotechnology Companies
- Other End Users
Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
- The latest report on the global Lateral Flow Assays market offers an elaborate list of the company profiles of the top industry players.
- The report highlights the most significant aspects of the industry, such as manufacturing/production capacity, sales, future expansion strategies, and the financial positions of the manufacturers and top companies.
- The report emphasizes the key application areas of the leading market products & services.
- The report involves a SWOT analysis of the global Lateral Flow Assays market.
- The report provides vital information about the leading investors, stakeholders, policymakers, manufacturers, suppliers, and service providers involves in the Lateral Flow Assays industry.
- Furthermore, the latest study is a precise account of the market and offers actionable insights into the global market size and growth rate over the estimated period.
Table of Content:
Chapter 1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Category-Wise Inclusions And Exclusions In The Lateral Flow Assays Market
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered For The Study
1.4.1 Exchange Rates Utilized For Conversion To Usd
1.7 Summary Of Changes
Chapter 2 Research Methodology
2.1 Research Approach
2.1.1 Research Design
2.1.2 Secondary Data
220.127.116.11 Key Data From Secondary Sources
2.1.3 Primary Data
18.104.22.168 Primary Sources
22.214.171.124 Key Data From Primary Sources
126.96.36.199 Breakdown Of Primaries
Figure 1 Breakdown Of Primary Interviews (Supply Side): By Company Type, Designation, And Region
2.2 Market Size Estimation
Figure 2 Market Size Estimation: Revenue Share Analysis.
Figure 3 Market Size Estimation: Revenue Share Analysis.
Figure 4 Supply-Side Analysis: Lateral Flow Assays Market.
Figure 5 Approach 3: Demand-Side Approach, Based On The Malaria Lateral Flow Testing Market Size.
Figure 6 Cagr Projections: Supply-Side Analysis Of The Lateral Flow Assays Market.
Figure 7 Cagr Projections From The Analysis Of Drivers, Restraints, Opportunities, And Challenges Of The Lateral Flow Assays Market (2020-2025)
2.3 Market Breakdown & Data Triangulation
Figure 8 Data Triangulation Methodology
2.4 Market Share Estimation
2.5 Assumptions For The Study
2.6 Covid-19 Health Assessment
2.7 Covid-19 Economic Assessment
2.8 Assessment Of The Impact Of Covid-19 On The Economic Scenario
Figure 9 Criteria Impacting The Global Economy
2.9 Assessment Of The Impact Of Covid-19 On The Economic Scenario In The Lateral Flow Assays Market
Chapter 3 Executive Summary
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