At 8.2% CAGR, Europe Lateral Flow Assay Market is Projected to be Worth US$ 4,820.39 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe lateral flow assay market was valued at US$ 2,558.72 million in 2022 and is expected to reach US$ 4,820.39 million by 2030, registering a CAGR of 8.2% from 2022 to 2030. Smartphone usage and AI integration in lateral flow immunoassay and evolving applications of lateral flow assays are among the critical factors attributed to drive the Europe lateral flow assay market growth.

Lateral flow assays are widely used for infectious disease diagnosis, heart disease diagnosis, and veterinary applications. However, the scope of their applications has expanded in recent years. Behavioral health, saliva-based diagnostics, biological warfare (detection of Bacillus anthracis), environmental testing (detection of contaminating enzymes in production facilities), agriculture (detection of genetically modified organisms and quality control of plants), food microbiology (Detection of E. coli O157, Salmonella, Listeria, and other food spoilage bacteria) have emerged as new application areas for lateral flow assays.

Atlas-Link Biotech (Beijing) provides FASPIT Antigen Saliva Test Kit. NOVA Test SARS-CoV-2 Antigen Saliva Test Kit (Colloidal Gold Immunochromatography) is a lateral flow assay that uses the double-antibody sandwich method to detect the SARS-CoV-2 nucleocapsid protein from saliva specimens from patients who are suspected of SARS-CoV-2 by a healthcare provider. Only certified laboratories that meet the requirements for performing moderate, high, or waived complexity tests can perform such saliva-based tests. The SARS-CoV-2 antigen saliva test kits provide preliminary test results, with negative results that don't preclude SARS-CoV-2 infection.

On the contrary, inconsistent assay results due to procedural limitations hamper the growth of Europe lateral flow assay market.

Based on product type, the Europe lateral flow assay market is bifurcated into kits & reagents and lateral flow readers. The kits & reagents segment held 63.2% market share in 2022, amassing US$ 1,617.60 million. It is projected to garner US$ 3,152.67 million by 2030 to register 8.7% CAGR during 2022-2030.

In terms of technique, the Europe lateral flow assay market is segmented into sandwich assay, competitive assays, and multiplex detection assay. The sandwich assay segment held 46.8% share of Europe lateral flow assay market in 2022, amassing US$ 1,197.23 million. It is anticipated to garner US$ 2,245.89 million by 2030 to expand at 8.2% CAGR during 2022-2030.

By test type, the Europe lateral flow assay market is divided into lateral flow immunoassay and nucleic acid lateral flow assay. The lateral flow immunoassay segment held 66.0% share of Europe lateral flow assay market in 2022, amassing US$ 1,687.51 million. It is projected to garner US$ 3,311.25 million by 2030 to expand at 8.8% CAGR from 2022 to 2030.

Based on application, the Europe lateral flow assay market is categorized into clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing. The clinical testing segment held 69.0% share of Europe lateral flow assay market in 2022, amassing US$ 1,765.42 million. It is predicted to garner US$ 3,344.14 million by 2030 to expand at 8.3% CAGR between 2022 and 2030.

By end user, the Europe lateral flow assay market is segmented into hospitals and clinics, diagnostics laboratories, homecare, veterinary clinics, pharmaceutical & biotechnology companies, and others. The hospitals and clinics segment held 40.1% share of Europe lateral flow assay market in 2022, amassing US$ 1,026.38 million. It is estimated to garner US$ 1,949.58 million by 2030 to expand at 8.3% CAGR during 2022-2030.

Based on country, the Europe lateral flow assay market is categorized into the UK, Germany, France, Spain, Italy, Benelux, and the Rest of Europe. Our regional analysis states that Germany captured 22.4% share of Europe lateral flow assay market in 2022. It was assessed at US$ 572.64 million in 2022 and is likely to hit US$ 1,113.52 million by 2030, registering a CAGR of 8.7% during 2022-2030.

Key players operating in the Europe lateral flow assay market are F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Becton Dickinson and Co, PerkinElmer Inc, Hologic Inc, QIAGEN NV, bioMerieux SA, QuidelOrtho Corp, Abbott Laboratories, Merck KGaA, Bio-Rad Laboratories Inc, and Thermo Fisher Scientific Inc, among others.

•    In May 2022, Bio-Rad Laboratories launched the CFX Duet Real-Time PCR system to support researchers in developing singleplex and duplex quantitative PCR assays. The system offers the robust thermal performance and proprietary, accurate optical shuttle system of the company's CFX Opus system.
  
  

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