How Has The Lateral Flow Assays Market Size Evolved In Recent Years?
The lateral flow assays market has seen considerable growth due to a variety of factors.
• The market for lateral flow assays has been expanding robustly over the past few years. The market size is set to rise from $11.69 billion in 2024 to $12.39 billion in 2025, representing a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to the growth during the historic period encompass improvements in diagnostics, increasing instances of infectious diseases, its suitability for pregnancy testing, enhancement of home healthcare, advancements in immunochromatography, and expansion of point-of-care testing.
What are the Market Size and Expected Growth Rates for the Lateral Flow Assays Market?
The lateral flow assays market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for lateral flow assays is predicted to undergo robust expansion in the upcoming years, reaching a value of $17.88 billion in 2029, with a compound annual growth rate (CAGR) of 9.6%.
This expected growth during the forecast period can be linked to the rising usage in disease identification, popularity of home testing kits, growth in veterinary diagnostics, evolution of multiplex assays, and the increasing need for food and environmental testing. Key trends that may emerge during the forecast period include a focus on personalized medicine and home testing, development in manufacturing procedures, emphasis on environmental and food safety testing, cost-effectiveness, and broader application in drug and biomarker detection.
What Key Factors and Trends are Driving the Growth of the Lateral Flow Assays Market?
The lateral flow assay market's growth is significantly influenced by the global prevalence of infectious diseases. In nations that are still developing, the high occurrence of infectious conditions such as HIV and malaria, combined with deficient healthcare systems and a growing awareness among the public, is projected to boost the utilization of lateral flow assay testing. The ongoing COVID-19 pandemic has underscored the necessity for early illness detection mechanisms, fortifying the potential for market growth. For example, in August 2024, the UK Health Security Agency, an executive agency based in the UK, released data showing that in England, a staggering 368 cases of measles were reported in 2023. This number is a significant jump from the 53 cases reported the previous year, with West Midlands and London representing 44% and 33% of the cases, respectively. As such, high incidence of infectious diseases worldwide is expected to stimulate the growth of the lateral flow assay market.
What Are The Key Segments Within The Global Lateral Flow Assays Market?
The lateral flow assays market covered in this report is segmented –
1) By Type: Kits And Reagents, Lateral Flow Readers
2) By Technique: Sandwich Assays, Competitive Assays, Multiplex Detection Assays
3) By Application: Veterinary Diagnostics, Clinical Or Point-Of-Care Testing, Drug Development And Quality Testing, Other Applications
4) By End-User: Hospitals And Clinics, Diagnostic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies, Other End Users
Subsegments:
1) By Kits And Reagents: Rapid Test Kits, Diagnostic Kits, Control Reagents, Sample Collection And Preparation Reagents
2) By Lateral Flow Readers: Portable Lateral Flow Readers, Benchtop Lateral Flow Readers, Smartphone-Based Lateral Flow Readers, Automated Lateral Flow Readers
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How Are New Trends Impacting The Size Of The Lateral Flow Assays Market?
The trend of technological innovation is gaining momentum in the lateral flow assays market. To consolidate their market positions, prominent participants in the lateral flow assay market are concentrating on ushering in innovative technological testing products. For example, in February 2022, Abacus Diagnostica, a Finland-based producer of medical appliances, introduced the second-generation COVID-19 test, the GenomEra SARS-CoV-2 2.0 Assay Kit. This product aims for fast qualitative identification of SARS-CoV-2 in respiratory samples by utilizing a multiplex reverse transcriptase polymerase chain reaction (RT-PCR) technique.
Who Are the Key Players in the Lateral Flow Assays Market?
Major companies operating in the lateral flow assays market include:
• Siemens AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Danaher Corporation
• Merck KGaA
• Hologic Inc.
• BioMérieux SA
• PerkinElmer Inc.
• Quidel Corporation
• Bio-Rad Laboratories Inc.
• Roche Holding AG
• QIAGEN N.V.
• OraSure Technologies Inc.
• Meridian Bioscience Inc.
• DiaSorin S.p.A.
• Molbio Diagnostics
• Trinity Biotech
• Chembio Diagnostics Inc.
• Coris BioConcept
• HYCOR Biomedical
• Diagnostic BioSystems GmbH
• Express Diagnostics Ltd.
• Fujirebio Diagnostics Inc.
• Innova Diagnostics Inc.
• Leadtec Diagnostics Inc.
• S&D Diagnostics Inc.
• Standard Diagnostics Inc.
• V-Chek Diagnostics
What are the Regional Insights into the Lateral Flow Assays Market?
North America was the largest region in the lateral flow assays market in 2024. Asia-Pacific is expected to be the fastest-growing region in the lateral flow assays market share during the forecast period. The regions covered in the lateral flow assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
