Lateral Flow Assays Market Size, Share & Trends Analysis Report By Product (Kits & Reagents, Benchtop Readers), By Application (Clinical Testing, Veterinary Diagnostics), By Technique, By End-use, By Region, And Segment Forecasts, 2021 - 2028

Lateral Flow Assays Market Growth & Trends

The global lateral flow assays market size is expected to reach USD 9.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2021 to 2028. Major drivers of the market include an increase in the prevalence of infectious diseases, a rise in government initiatives to curb infectious and chronic diseases, a rise in demand for point of care testing, and strategic mergers and acquisitions.

Continuous strategic initiatives undertaken by leading and emerging players to develop and launch advanced products are anticipated to significantly support the market growth. For instance, in January 2021, U.K.-based Sensyne Health launched MagnifEye, a novel smartphone app that utilizes deep machine learning AI to automate the accurate reading of lateral flow diagnostic tests. Additionally, in March 2021, IUL SA, a Spain-based lateral flow products manufacturer, introduced its new lateral flow reader, iPeak+. In addition, a rise in mergers and collaborations by market players is anticipated to facilitate access to novel lateral flow technologies.

A rise in the prevalence of infectious diseases, including the outbreak of COVID-19, and an increase in government initiatives to curb COVID-19, HIV, and other communicable diseases are anticipated to create significant demand for lateral flow devices. According to the U.S. Department of Health & Human Services, the U.S. government has formed the U.S. President's Emergency Plan for AIDS Relief (PEPFAR) that works towards preventing, early detection, and responding to new as well as existing risks related to AIDS and HIV.

Lateral Flow Assays Market Report Highlights

  • The outbreak of COVID-19 has created significant demand for lateral flow assays for conducting mass testing in the U.S. and European countries
  • However, increasing vaccinations leading to reduced COVID-19 cases in the coming years may hamper the segment growth
  • By product, kits and reagents held the largest share in 2020 as they offer easy, effective, and rapid diagnosis of chronic and infectious diseases
  • Easy availability of kits and reagents coupled with the launch of new kits by major players are key factors propelling the segment growth
  • A smartphone-based lateral flow reader is more convenient due to its ease of use and portability. Thus, it is anticipated to witness significant growth in the near future
  • The clinical testing application segment held the largest market share in 2020 owing to an increase in the incidence of infectious diseases, a rise in the pressure to reduce overall healthcare costs, and increasing demand for POC testing devices that can be used in any healthcare setting
  • Technological advancements in the healthcare sector, innovation in technology and devices, and an increase in the adoption of POC testing by patients and healthcare professionals are anticipated to fuel the market growth during the forecast period
  • The drug development and quality testing segment is anticipated to witness the fastest CAGR throughout the forecast period
  • An increase in the use of lateral flow assays for therapeutic drug monitoring has majorly driven the segment growth
  • An increase in the availability of antibiotic tests is one of the factors influencing the market growth during the forecast period
  • Sandwich assay technique accounted for significant revenue share in 2020 owing to their accuracy, affordability, and ease of use
  • Hospitals and clinics are the major end-users of lateral flow assays, thus, accounted for a major share in 2020
  • An increase in healthcare expenditure globally has significantly contributed to the growth of the market.
  • North America dominated the market in 2020 with the presence of prominent players in the region and high adoption of advanced products by end-users
  • Asia Pacific is projected to witness the fastest CAGR throughout the forecast period
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Product
1.1.2 Application
1.1.3 Technique
1.1.4 End Use
1.1.5 Regional Scope
1.1.6 Estimates And Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details Of Primary Research
1.3.5.1 Data for primary interviews in North America
1.3.5.2 Data for Primary Interviews in Europe
1.3.5.3 Data for Primary Interviews in Asia Pacific
1.3.5.4 Data for Primary Interviews in Latin America
1.3.5.5 Data for Primary Interviews in Middle East & Africa
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.2 Volume Price Analysis (Model 2)
1.6.2.1 Approach 2: Volume Price Analysis
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Market Outlook
Chapter 3 Lateral Flow Assay Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.2 Penetration And Growth Prospect Mapping
3.2.1 Key Opportunities Prioritized, By Product
3.2.2 Key Opportunities Prioritized, By Application
3.2.3 Key Opportunities Prioritized, By Technique
3.2.4 Key Opportunities Prioritized, By End Use
3.3 User Perspective Analysis
3.3.1 Consumer Behavior Analysis
3.4 Incidence Data, Infectious Diseases
3.4.1 COVID-19
3.4.1.1 U.S. COVID-19 total cases
3.4.1.2 Europe COVID-19 total cases
3.4.1.3 India COVID-19 total cases
3.4.2 Yellow Fever
3.4.3 Dengue
3.4.4 Zika
3.4.5 West Nile Virus
3.4.6 Influenza
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Rising prevalence of chronic and infectious diseases
3.5.1.2 Growing Demand for Point-Of-Care Testing
3.5.1.3 Increase in Usage of Home-Based Lateral Flow Assay Devices
3.5.2 Market Restraint Analysis
3.5.2.1 Advent of advanced techniques such as PCR and Molecular Diagnostics
3.5.2.2 Frequent Product Recalls
3.5.3 Market Challenge Analysis
3.5.3.1 Environmental Problems caused due to use of Lateral Flow Assay Devices
3.6 Lateral Flow Assay: Market Analysis Tools
3.6.1 Industry Analysis - Porter’s
3.6.2 Rapid Diagnostics Market - Swot Analysis, By Factor (Political & Legal, Economic And Technological)
3.7 COVID-19 Impact Analysis
Chapter 4 Lateral Flow Assay Market: Product Estimates and Trend Analysis
4.1 Product Market Share Analysis, 2020 & 2028
4.2 Segment Dashboard
4.3 Global Lateral Flow Assay Market Size & Forecasts and Trend Analysis, by Product, 2017 to 2028
4.3.1 Kits & Reagents
4.3.1.1 Kits & Reagents Market, market estimates and forecasts, 2017 - 2028 (USD Million)
4.3.2 Lateral Flow Readers
4.3.2.1 Lateral Flow Readers Market, market estimates and forecasts, 2017 - 2028 (USD Million)
4.3.3 Benchtop Lateral Flow Readers
4.3.3.1 Benchtop Lateral Flow Readers Market, market estimates and forecasts, 2017 - 2028 (USD Million)
4.3.4 Digital/Mobile Lateral Flow Readers
4.3.4.1 Digital/Mobile Lateral Flow Readers Market, market estimates and forecasts, 2017 - 2028 (USD Million)
Chapter 5 Lateral Flow Assay Market: Application Estimates and Trend Analysis
5.1 Application Market Share Analysis, 2020 & 2028
5.2 Segment Dashboard
5.3 Global Lateral Flow Assay Market Size & Forecasts and Trend Analysis, by Application, 2017 to 2028
5.3.1 Clinical Testing
5.3.1.1 Clinical Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2 Infectious Disease Testing
5.3.1.2.1 Infectious Disease Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.2 COVID-19 Testing
5.3.1.2.2.1 COVID-19 testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.3 Mosquito-borne Disease Testing
5.3.1.2.3.1 Mosquito-borne Disease Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.4 Influenza Testing
5.3.1.2.4.1 Influenza Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5 Sexually Transmitted Infection Testing
5.3.1.2.5.1 Sexually Transmitted Infection Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.2 HIV Testing
5.3.1.2.5.3 HIV Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.4 HPV Testing
5.3.1.2.5.5 HPV Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.6 Chlamydia Testing
5.3.1.2.5.7 Chlamydia Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.8 Syphilis Testing
5.3.1.2.5.9 Syphilis Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.10 Gonorrhea Testing
5.3.1.2.5.11 Gonorrhea Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.5.12 Other STDs Testing
5.3.1.2.5.13 Other STDs Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.6 Hepatitis Testing
5.3.1.2.6.1 Hepatitis Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.7 Tuberculosis Testing
5.3.1.2.7.1 Tuberculosis Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.2.8 Other Infectious Disease Testing
5.3.1.2.8.1 Other Infectious Disease Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3 Cardiac Marker Testing
5.3.1.3.1 Cardiac Marker Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.2 Troponin I and T Testing
5.3.1.3.2.1 Troponin I and T Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.3 CK-MB Testing
5.3.1.3.3.1 CK-MB Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.4 BNP and NT-ProBNP Testing
5.3.1.3.4.1 BNP and NT-ProBNP Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.5 Myoglobin Testing
5.3.1.3.5.1 Myoglobin Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.6 D-Dimer Testing
5.3.1.3.6.1 D-Dimer Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.3.7 Other Cardiac Marker Tests
5.3.1.3.7.1 Other Cardiac Marker Tests Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.4 Pregnancy & Fertility Testing
5.3.1.4.1 Pregnancy & Fertility Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.4.2 Pregnancy Testing
5.3.1.4.2.1 Pregnancy Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.4.3 Fertility Testing
5.3.1.4.3.1 Fertility Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.5 Cholesterol Testing/Lipid Profile Testing
5.3.1.5.1 Cholesterol Testing/Lipid Profile Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.6 Drugs of Abuse Testing
5.3.1.6.1 Drugs of Abuse Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.1.7 Other Clinical Tests
5.3.1.7.1 Other Clinical Tests Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.2 Veterinary Diagnostics
5.3.2.1 Veterinary Diagnostics Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.3 Food Safety & Environment Testing
5.3.3.1 Food Safety & Environment Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
5.3.4 Drug Development & Quality Testing
5.3.4.1 Drug Development & Quality Testing Market, market estimates and forecasts, 2017 - 2028 (USD Million)
Chapter 6 Lateral Flow Assay Market: Technique Estimates and Trend Analysis
6.1 Technique Market Share Analysis, 2020 & 2028
6.2 Segment Dashboard
6.3 Global Lateral Flow Assay Market Size & Forecasts and Trend Analysis, by Technique, 2017 to 2028
6.3.1 Sandwich Assay
6.3.1.1 Sandwich Assay market estimates and forecasts, 2017 - 2028 (USD Million)
6.3.2 Competitive Assay
6.3.2.1 Competitive Assay market estimates and forecasts, 2017 - 2028 (USD Million)
6.3.3 Multiplex Detection Assay
6.3.3.1 Multiplex Detection Assay market estimates and forecasts, 2017 - 2028 (USD Million)
Chapter 7 Lateral Flow Assay Market: End-use Estimates and Trend Analysis
7.1 End-use Market Share Analysis, 2020 & 2028
7.2 Segment Dashboard
7.3 Global Lateral Flow Assay Market Size & Forecasts and Trend Analysis, by End-use, 2017 to 2028
7.3.1 Hospitals & Clinics
7.3.1.1 Hospitals & Clinics Market estimates and forecasts, 2017 - 2028 (USD Million)
7.3.2 Diagnostic Laboratories
7.3.2.1 Diagnostic Laboratories estimates and forecasts, 2017 - 2028 (USD Million)
7.3.3 Home Care
7.3.3.1 Home Care Market estimates and forecasts, 2017 - 2028 (USD Million)
7.3.4 Pharmaceutical & Biotechnology Companies
7.3.4.1 Pharmaceutical & Biotechnology Companies Market estimates and forecasts, 2017 - 2028 (USD Million)
7.3.5 Other End Users
7.3.5.1 Other End Users Market estimates and forecasts, 2017 - 2028 (USD Million)

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