Lateral flow assays are immunoassay technology used for point-of-care testing to detect the presence or absence of target analytes in samples like urine, blood and saliva. It enables quick diagnosis with results available in minutes. Rising cases of infectious diseases and growing need for point-of-care testing can boost demand for lateral flow assays globally. Moreover, home based lateral flow test kits for conditions like pregnancy, glucose monitoring and COVID are witnessing huge adoption. However, regulations associated with product approval can hamper the market growth during the forecast period.

Market Dynamics:

Global lateral flow assay market growth is driven by factors like rising cases of infectious diseases like HIV, tuberculosis, and influenza which necessitates early diagnosis. Growing geriatric population susceptible to chronic diseases can also boost demand for these assays. Rising demand for point-of-care testing enabled by lateral flow assays, which provides results within minutes, can drive the market growth. Rising sales of home based test kits can offer market growth opportunities. However, factors like stringent regulatory framework and lengthy product approval process can hamper the market growth. High cost of advanced lateral flow assays can also hamper the market growth. Technological advancements to enhance accuracy and reproducibility can offer growth opportunities.

Key Features of the Study:

- This report provides in-depth analysis of the global lateral flow assay market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global lateral flow assay market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Abbott, F. Hoffmann-La Roche Ltd, Danaher, Siemens, Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., QIAGEN, PerkinElmer Inc.

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- Global lateral flow assay market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lateral flow assay market

Detailed Segmentation-

• By Product Type
  
  • Kits and Reagents
  • Lateral Flow Readers
• By Technique
  
  • Competitive Assay
  • Multiplex Detection Assay
  • Sandwich Assay
• By Application
  
  • Clinical Testing
  • Cardiac Marker Testing
  • Pregnancy & Fertility Testing
  • Cholesterol Testing/Lipid Profile
  • Drugs of Abuse Testing
  • Drug Development & Quality Testing
  • Other Clinical Tests
• By End User
  
  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Pharmaceutical and Biotechnology Companies
  • Home Care Settings
  • Others
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Abbott Laboratories
  • Hoffmann-La Roche AG
  • Thermo Fisher Scientific Inc.
  • Quidel Corporation
  • Hologic Inc.
  • bioMérieux SA
  • PerkinElmer Inc.
  • Merck KGaA
  • QIAGEN NV
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories Inc.
  • Danaher Corporation
  • Access Bio Inc.
  • Siemens AG
  • Chembio Diagnostic Systems Inc.
  • Abcam PLC
  • Standard Diagnostics Inc.
  • Eiken Chemical Co., Ltd.