The growth in the lateral flow assays market is mainly attributed to increasing healthcare expenditure, prevalence of various chronic & infectious diseases, growing aging population, increasing usage of home-based lateral flow assay kits, growing demand of PoC testing, the impact of COVID-19, and continuous advancements in lateral flow assay diagnostic techniques. However, implementation of excise duty on medical devices in the U.S., inadequate reimbursement policies for LFA-based rapid test diagnostics, lack of trained caretakers for efficient patient handling equipment, and variance & inconsistency in lateral flow assay test results are expected to hinder the growth of the market.

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Scope of the Report

Lateral Flow Assays Market, by Product

Kits & Reagents
Lateral Flow Readers
Digital/Mobile Readers
Benchtop Readers
Lateral Flow Assays Market, by Technique

Sandwich Assays
Competitive Assays
Multiplex Detection Assays
Lateral Flow Assays Market, by Application

Clinical Testing
Infectious Disease Testing
Cardiac Marker Testing
Pregnancy & Fertility Testing
Cholesterol Testing/Lipid Profile
Drug Abuse Testing
Other Clinical Tests
Veterinary Diagnostics
Food Safety & Environment Testing
Drug Development & Quality Testing
Lateral Flow Assays Market, by End User

Hospitals & Clinics
Diagnostic Laboratories
Home Care
Pharmaceutical & Biotechnology Companies
Other End Users
(Note: Other End Users Include Water Treatment Facilities and Food Processing Units)

Lateral Flow Assays Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa
Middle East & Africa
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Lateral Flow Assays Market: Future Outlook

The lateral flow assays market is segmented on the basis of Product [Kits & Reagents and Lateral Flow Readers (Digital/Mobile Readers and Benchtop Readers)], Technique [Sandwich Assays, Competitive Assays, and Multiplex Detection Assays], Application [Clinical Testing (Infectious Disease Testing, Cardiac Marker Testing, Pregnancy & Fertility Testing, Cholesterol Testing/Lipid Profile, Drug Abuse Testing, and Other Clinical Tests), Veterinary Diagnostics, Food Safety & Environment Testing and Drug Development & Quality Testing], End User [Hospitals & Clinics; Diagnostic Laboratories, Home Care, Pharmaceutical & Biotechnology Companies; and Other End Users] and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

Based on product, in 2020, the kits & reagents segment accounted for the largest share of the lateral flow assays market. The large share of this segment is mainly attributed to factors such as the increasing adoption of lateral flow assay-based test kits due to innovations and their benefits over laboratory tests; the increasing spread of various chronic and infectious diseases across the world; and the high number of lateral flow assay rapid detection kits being launched by healthcare companies mainly for COVID-19 testing.

Based on technique, in 2020, the sandwich assays segment accounted for the largest share of the market. The large share of this segment is mainly attributed to the evolving applications of sandwich assays in medical testing settings and the advantages of sandwich assays, such as higher sensitivity and specificity for larger analytes. Moreover, a large number of lateral flow assay-based companies are launching rapid detection kits based on the sandwich assay technique for COVID-19 testing, which is further expected to contribute to the growth of this segment.

Based on application, the clinical testing segment accounted for the largest share of the market in 2020. The large share of this segment is mainly attributed to the increasing healthcare expenditure across the world, rise in government initiatives promoting health awareness, growing awareness among people regarding clinical testing, and the rising prevalence of various chronic and infectious diseases worldwide. In addition, continuous advancements in lateral flow assays are also expected to contribute to the growth of this segment.

Based on end user, the hospitals & clinics segment accounted for the largest share of the market in 2020. Factors driving the growth of this segment are the increasing access to healthcare, economic growth, the rising prevalence of lifestyle diseases, and the impact of COVID-19.

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Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa.

Key Players

The key players operating in the lateral flow assays market are Abbott Laboratories (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson, and Company (U.S.), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Germany), PerkinElmer, Inc. (U.S.), Quidel Corporation (U.S.), and Merck KGAA (Germany).

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Key questions answered in the report-

Which are the high growth market segments in terms of product, technique, application, end-user, and region/countries?
What was the historical market for lateral flow assays across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, opportunities, and challenges in the global lateral flow assays market?
Who are the major players in the lateral flow assays market?
How is the competitive landscape, and who are the market leaders in the global lateral flow assays market?
What are the recent developments in the global lateral flow assays market?
What are the different strategies adopted by the major players in the global lateral flow assays market?
What are the geographical trends and high growth regions/countries?

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