Lateral Flow Assay Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Product (Kits & Reagents, Lateral Flow Readers, and Others), By Application (Clinical Testing, Cardiac Marker Testing, Pregnancy & Fertility Testing, Veterinary Diagnostics, and Others), By Technique (Sandwich Assay, Competitive Assay, Multiplex Detection Assay), By Test Type (Latera
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLateral Flow Assay Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Product (Kits & Reagents, Lateral Flow Readers, and Others), By Application (Clinical Testing, Cardiac Marker Testing, Pregnancy & Fertility Testing, Veterinary Diagnostics, and Others), By Technique (Sandwich Assay, Competitive Assay, Multiplex Detection Assay), By Test Type (Latera
This, during the 2019-2020 flu season, there were 36 million cases of influenza in the United States.The number of influenza deaths during the 2019-2020 flu season was 20,342. The vast majority of deaths attributed to influenza during the 2019-2020 flu season occurred among those aged 65 years and older.
This can make it difficult for smaller companies to enter and succeed in the market. Developing and manufacturing lateral flow assays requires specialized expertise in areas such as biochemistry, engineering, and materials science. This can be a barrier to entry for new companies or individuals looking to enter the market. The development and commercialization of lateral flow assays are subject to regulatory requirements in different countries and regions. This can create additional costs and delays for companies looking to bring their products to market. The supply chain for lateral flow assays can be complex, with multiple components and materials sourced from different suppliers. This can increase the risk of supply chain disruptions and impact the availability and quality of products. While lateral flow assays are generally less expensive than other diagnostic tests, cost pressures can still be a challenge for manufacturers. This can impact their ability to invest in research and development, and to offer competitive pricing for their products. Lateral flow assay is widely used for the rapid and accurate detection of infectious diseases, such as HIV, tuberculosis, and malaria, among others. Lateral flow assay is used for the detection of foodborne pathogens, such as Salmonella and E. coli, in food samples.
Growing prevalence of infectious diseases
In September 2020, Qiagen N.V. bought NeuMoDx Molecular, Inc. to expand Qiagen's diagnostics instrument product line and boost its market position in automated molecular testing. This will broaden QIAGEN's offering of automated testing solutions and serve as another catalyst for future growth.
Increasing demand for home-based testing method
According to this Statista, 7.92 million women in the U.S. used home pregnancy tests in 2020.
Recent Development
- Novacyt, a specialist in clinical diagnostics, is to launch two PathFlow COVID-19 antigen lateral flow tests (LFTs) to strengthen its COVID-19 portfolio and to pursue new market opportunities, especially in point-of-care (POC) settings. In September 2020, F. Hoffmann-La Roche AG (Switzerland) launched a SARS-CoV-2 rapid antigen test kit and a SARS-CoV-2 rapid antibody test kit.
- Many lateral flow assays for the detection of SARS-CoV-2 (the virus that causes COVID-19) have been launched in the past three years. For example, in 2020, Roche launched a rapid antigen test for COVID-19 that uses a lateral flow assay, and in 2021, Abbott Laboratories launched a lateral flow assay for the detection of COVID-19 antigens.
- Several lateral flow assays for the detection of influenza have been launched in the past three years. For example, in 2019, Quidel Corporation launched a lateral flow assay for the detection of influenza A and B viruses, and in 2021, Luminex Corporation launched a lateral flow assay for the detection of influenza A and B viruses and respiratory syncytial virus.
- Multiplex lateral flow assays that can detect multiple targets in a single test have also been launched in the past three years. For example, in 2020, Abingdon Health launched a multiplex lateral flow assay for the detection of multiple sexually transmitted infections, and in 2021, Mologic launched a lateral flow assay for the detection of three different biomarkers for preeclampsia.
- Digital lateral flow assays that use smartphone technology for result interpretation have also been launched in the past three years. For example, in 2019, Biosense Technologies launched a digital lateral flow assay for the detection of dengue fever, and in 2021, OraSure Technologies launched a digital lateral flow assay for the detection of HIV.
Market Segmentation
Reported TB incidence (cases per 100,000 persons) increased 9.4%, from 2.2 during 2020 to 2.4 during 2021 but was lower than incidence during 2019 (2.7). Increases occurred among both U.S.-born and non–U.S.-born persons.
Market Players
Thermo Fisher Scientific, Inc., Abbott Laboratories, Inc., F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Quidel Corporation, Hologic, Inc., bioMérieux SA, PerkinElmer, Inc., Danaher Corporation, QIAGEN N.V. are some of the leading players operating in the Global Lateral Flow Assay Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · By Product · By Application · By Technique · By Test Type · By End User · By Region |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Mexico; Canada; France; Germany; United Kingdom; Italy; Spain; China; India; South Korea; Japan; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
| Key companies profiled | Thermo Fisher Scientific, Inc., Abbott Laboratories, Inc., F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Quidel Corporation, Hologic, Inc., bioMérieux SA, PerkinElmer, Inc., Danaher Corporation, QIAGEN N.V. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy