Market Overview:
The global lateral flow assay market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for lateral flow assays for various applications such as medicine, environment testing, food safety, and others. Moreover, the growing awareness about the benefits of using lateral flow assays is also contributing to the growth of this market. Based on type, sandwich assays are expected to account for a larger share of the global lateral flow assay market than competitive assays during the forecast period. This can be attributed to their high accuracy and sensitivity levels as compared with competitive assays.
Product Definition:
A lateral flow assay is a diagnostic test that uses a strip of paper or plastic on which specific antibodies have been immobilized. These antibodies react with antigens present in the sample, causing a line to form on the strip. The presence or absence of this line can then be used to indicate the presence or absence of the antigen in question. Lateral flow assays are commonly used to detect HIV, hepatitis B and C, and other infectious agents.
Sandwich Assays:
Sandwich assays are a combination of two reagents, one of which is placed in between the target analyte and the detection antibody or enzyme. The other half of the sandwich consists of a carrier that carries the test sample to be detected. This technique is used for detecting specific antibodies as well as enzymes in samples by utilizing an appropriate conjugate antigen/antibody pair.
The major advantage associated with this technique includes ease-of-use.
Competitive Assays:
A competitive assay is an analytical procedure used to compare the ability of two or more substances to bind to a particular ligand. It involves the use of a solution containing the target substance along with its binding partner, which can be either another protein or an organic chemical compound. The speed and efficiency with which different ligands bind to their respective targets are compared by determining when both substances reach their peak concentration.
Application Insights:
The market is segmented by application into medicine, environment testing, food safety and others. The medicine segment dominated the global lateral flow assay market in 2017 owing to the increasing prevalence of infectious diseases such as HIV, hepatitis A & B, tuberculosis and other blood-borne infections. Moreover, an increase in travel activities has led to an increased risk of exposure to various pathogens including cholera and typhoid which can be detected with a lateral flow test.
The environment testing segment is expected to witness lucrative growth over the forecast period due largely to stringent regulations regarding environmental pollution monitoring across various countries worldwide. Furthermore, there are cases where people are at risk from environmental hazards such as radiation or toxic chemicals that require sensitive analysis for early detection which will further boost product demand over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The regional growth is attributed to the presence of major players, high adoption rate of new technologies, and increasing demand for food & beverages and environmental testing products. Asia Pacific is expected to witness lucrative growth over the forecast period owing to rising demand for diagnostic tests from emerging economies such as China and India. Moreover, an increase in government initiatives pertaining to quality control in countries like Japan will drive regional growth during the forecast period.
The key companies operating within Europe are Bio-Rad Laboratories (U.S.), CELGENE CORP., Inc., EMD Millipore (U.S.), Hygiena LLC (Belgium), Merck KGaA Darmstadt GmbH & Co., Ltd.
Growth Factors:
- Increasing demand for point-of-care diagnostics: The lateral flow assay market is expected to benefit from the increasing demand for point-of-care diagnostics. This is because lateral flow assays are simple, rapid, and easy to use, which makes them ideal for use in point-of-care settings.
- Technological advancements: The lateral flow assay market is expected to benefit from the ongoing technological advancements in the field of diagnostic testing. This is because new technologies are helping to improve the accuracy and speed of lateral flow assays, making them more suitable for use in clinical settings.
- Growing prevalence of infectious diseases: The global prevalence of infectious diseases is on the rise, which is likely to lead to an increase in demand for diagnostic tests such as lateral flow assays. This will help drive growth in the lateral flow assay market over the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Lateral Flow Assay Market Research Report
By Type
Sandwich Assays, Competitive Assays
By Application
Medicine, Environment Testing, Food Safety,
By Companies
Thermo Fisher, Bio-Rad Laboratories, Becton, Dickinson, Abbott, Hologic, PerkinElmer, Quidel Corporation, Biomérieux, Qiagen, Siemens, BUHLMANN, IMMY,
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Lateral Flow Assay Market Report Segments:
The global Lateral Flow Assay market is segmented on the basis of:
Types
Sandwich Assays, Competitive Assays
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medicine, Environment Testing, Food Safety,
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Thermo Fisher
- Bio-Rad Laboratories
- Becton, Dickinson
- Abbott
- Hologic
- PerkinElmer
- Quidel Corporation
- Biomérieux
- Qiagen
- Siemens
- BUHLMANN
- IMMY
Highlights of The Lateral Flow Assay Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Sandwich Assays
- Competitive Assays
- By Application:
- Medicine
- Environment Testing
- Food Safety
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lateral Flow Assay Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A lateral flow assay is a method used to detect the presence of antibodies in serum or plasma. Antibodies are proteins that are produced by the body in response to an antigen. The lateral flow assay uses a test strip that contains antigens and antibodies, and allows for the detection of antibody molecules in serum or plasma.
Some of the key players operating in the lateral flow assay market are Thermo Fisher, Bio-Rad Laboratories, Becton, Dickinson, Abbott, Hologic, PerkinElmer, Quidel Corporation, BiomƒÂ©rieux, Qiagen, Siemens, BUHLMANN, IMMY.
The lateral flow assay market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lateral Flow Assay Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Lateral Flow Assay Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Lateral Flow Assay Market - Supply Chain
4.5. Global Lateral Flow Assay Market Forecast
4.5.1. Lateral Flow Assay Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Lateral Flow Assay Market Size (000 Units) and Y-o-Y Growth
4.5.3. Lateral Flow Assay Market Absolute $ Opportunity
5. Global Lateral Flow Assay Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Lateral Flow Assay Market Size and Volume Forecast by Type
5.3.1. Sandwich Assays
5.3.2. Competitive Assays
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Lateral Flow Assay Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Lateral Flow Assay Market Size and Volume Forecast by Application
6.3.1. Medicine
6.3.2. Environment Testing
6.3.3. Food Safety
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Lateral Flow Assay Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Lateral Flow Assay Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Lateral Flow Assay Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Lateral Flow Assay Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Lateral Flow Assay Demand Share Forecast, 2019-2026
9. North America Lateral Flow Assay Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Lateral Flow Assay Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Lateral Flow Assay Market Size and Volume Forecast by Application
9.4.1. Medicine
9.4.2. Environment Testing
9.4.3. Food Safety
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Lateral Flow Assay Market Size and Volume Forecast by Type
9.7.1. Sandwich Assays
9.7.2. Competitive Assays
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Lateral Flow Assay Demand Share Forecast, 2019-2026
10. Latin America Lateral Flow Assay Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Lateral Flow Assay Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Lateral Flow Assay Market Size and Volume Forecast by Application
10.4.1. Medicine
10.4.2. Environment Testing
10.4.3. Food Safety
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Lateral Flow Assay Market Size and Volume Forecast by Type
10.7.1. Sandwich Assays
10.7.2. Competitive Assays
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Lateral Flow Assay Demand Share Forecast, 2019-2026
11. Europe Lateral Flow Assay Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Lateral Flow Assay Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Lateral Flow Assay Market Size and Volume Forecast by Application
11.4.1. Medicine
11.4.2. Environment Testing
11.4.3. Food Safety
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Lateral Flow Assay Market Size and Volume Forecast by Type
11.7.1. Sandwich Assays
11.7.2. Competitive Assays
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.1. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Lateral Flow Assay Demand Share, 2019-2026
12. Asia Pacific Lateral Flow Assay Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Lateral Flow Assay Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Lateral Flow Assay Market Size and Volume Forecast by Application
12.4.1. Medicine
12.4.2. Environment Testing
12.4.3. Food Safety
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Lateral Flow Assay Market Size and Volume Forecast by Type
12.7.1. Sandwich Assays
12.7.2. Competitive Assays
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Lateral Flow Assay Demand Share, 2019-2026
13. Middle East & Africa Lateral Flow Assay Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Lateral Flow Assay Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Lateral Flow Assay Market Size and Volume Forecast by Application
13.4.1. Medicine
13.4.2. Environment Testing
13.4.3. Food Safety
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Lateral Flow Assay Market Size and Volume Forecast by Type
13.7.1. Sandwich Assays
13.7.2. Competitive Assays
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Lateral Flow Assay Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Lateral Flow Assay Market: Market Share Analysis
14.2. Lateral Flow Assay Distributors and Customers
14.3. Lateral Flow Assay Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Thermo Fisher
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Bio-Rad Laboratories
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Becton, Dickinson
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Abbott
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Hologic
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. PerkinElmer
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Quidel Corporation
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Biomérieux
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Qiagen
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Siemens
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. BUHLMANN
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. IMMY
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13.
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
