Lateral Flow Assays Market by Product (Kits & Reagents, Lateral Flow Readers); Technique (Sandwich Assays, Multiplex Detection Assays, Competitive Assays); Application (Drug Development and Quality Testing, Clinical or Point-of-Care testing, Others); End User (Hospitals & Clinics, Home Care, Pharmaceutical & Biotechnology Companies): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026830 | Pages: 100 | Industry: Pharmaceuticals | Date: Oct 2022 | Type: Global

The market crossed US$ 7.80 billion mark in 2022 and is expected to hit US$ 13.12 billion by 2030, recording a CAGR of 4.1% during the forecast period.

Kits & Reagents segment held the largest share by product segment.

Based on the product, the lateral flow assays market  is segmented kits & reagents, and lateral flow readers. The kits and reagents segment held the largest share in 2022 and it is also anticipated to grow at highest CAGR during the forecast period. The growth of the segment can be attributed to increasing application of lateral flow kits & reagents for POC testing and increasing number of product launches by the market players during the forecast period.

Within the report, the market is segmented into product and service, application, end user, geography. By product, the market is bifurcated into kits & reagents and lateral flow readers. By technique the market is segmented into sandwich assays, multiplex detection assays, and competitive assays. In terms of application the market is segmented  into Drug Development and Quality Testing, Clinical or Point-of-Care testing, Others. By end user the market is segmented into hospitals & clinics, home care, pharmaceutical & biotechnology companies. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Rising Incidences of Chronic and Infectious Diseases is likely to drive the market growth

The lateral flow assay (LFA) is a paper-based test for the detection and quantification of analytes in complex mixtures, where the sample is placed on a test device and the results are displayed within 5–30 min. LFA plays an important role in diagnosis of infectious diseases. It is majorly used to detect several infectious disorders like tuberculosis, STDs, influenza. As per the WHO, in the year 2020, an estimated 10 million people suffered from tuberculosis (TB) across the globe of which 5.6 million were men, 3.3 million were women and 1.1 million were children.

Growing Biotechnology & Biopharmaceutical Industries is likely to create growth opportunities for the market.

In recent years, the biotechnology industry is developing at an rapid speed. Market players operating in biotechnology industry are tackling various healthcare difficulties by developing medicines, progressing digitalization, therapy forms, and continuously changing the management. Also, the biotechnology sector in India has witnessed significant growth, doubling from US$ 30.2 billion in 2015 to US$ 70.2 billion in 2020.

Recent strategic developments in Lateral flow assays market  

The lateral flow assays market has undergone several significant developments, and a few of these have been mentioned below:

  • In October 2017, SYGNIS AG launched the advanced Universal Lateral Flow Assay (LFA) kit for expanding the range of lateral flow assay products and services.
  • In August 2021, Becton, Dickinson and Company got approval for the OTC rapid antigen test using the Scanwell Health Mobile App.

The lateral flow assays market  is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. F. Hoffmann-La Roche Ltd, Abbott, Thermo Fisher Scientific, Merck KGaA, Hologic, Inc, bioMerieux SA, Bio-Rad Laboratories, Inc, BD, QIAGEN, Quidel Corporationare among the prominent players operating in the market.

Target audience for the report:

  • Manufacturing Companies
  • Government & Research Organizations
  • Organizations, Forums, Alliances & Associations
  • State & National Authorities
  • Dealers & Suppliers And Vendors

 

 

Scope of the report:

In this report, the market has been segmented on the basis of:

 

  • Product
    • Kits & Reagents
    • Lateral Flow Readers
  • Technique
    • Sandwich Assays
    • Multiplex Detection Assays
    • Competitive Assays
  • Application
    • Drug Development and Quality Testing
    • Clinical or Point-of-Care testing
    • Others
  • End User
    • Hospitals & Clinics
    • Home Care
    • Pharmaceutical & Biotechnology Companies
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • F. Hoffmann-La Roche Ltd
    • Abbott
    • Thermo Fisher Scientific
    • Merck KGaA
    • Hologic, Inc
    • bioMerieux SA
    • Bio-Rad Laboratories, Inc
    • BD
    • QIAGEN
    • Quidel Corporation

The List of Companies
- F. Hoffmann-La Roche Ltd
- Abbott
- Thermo Fisher Scientific
- Merck KGaA
- Hologic, Inc
- bioMerieux SA
- Bio-Rad Laboratories, Inc
- BD
- QIAGEN
- Quidel Corporation

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