Lateral Flow Assays Market Trends, Key Manufacturer, Upcoming Trends, Future Outlook 2033: SPER Market Research

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Published: Aug 2021	Report ID: MEDE2106	Pages: 1 - 285	Formats^*:
Category : Medical Devices

Global Lateral Flow Assays Market Overview

According to SPER Market Research, the Global Lateral Flow Assays Market is estimated to reach USD 25.77 billion by 2033 with a CAGR of 2.21%.

The presence or absence of a target analyte in a sample is determined using lateral flow assays, also referred to as lateral flow immunoassays or lateral flow tests. These tests are based on the idea of the interaction between an antigen and an antibody, in which particular antibodies are immobilised on a porous membrane. If the target analyte is present, the sample is applied to one end of the membrane, where it binds to the immobilised antibodies. A visual signal, like a coloured line, forms in the test zone to indicate a positive result as the analyte-antibody complex migrates through the membrane through capillary action. In point-of-care testing, food safety, veterinary diagnostics, and environmental monitoring, lateral flow assays are frequently employed because they offer quick and simple diagnostic solutions.

Exploring the Growth Drivers of the Global Lateral Flow Assays Industry.

Over the years, a number of reasons have contributed to the enormous expansion of the Global lateral flow assays market. Lateral flow assays (LFAs) are straightforward, quick diagnostic tests that are used to find a specific analyte in a sample, such as antibodies or antigens. They are extensively utilised in veterinary diagnostics, food safety testing, environmental monitoring, and medical diagnostics. Without requiring specialised laboratory equipment or trained personnel, lateral flow tests provide quick and convenient testing at the point of treatment. Point-of-care testing is becoming more and more popular, particularly in remote and resource-constrained settings. The market is expanding as a result of LFAs' ability to quickly diagnose a number of ailments, such as infectious infections, cardiac indicators, pregnancy, and drug testing.

What challenges does the Global Lateral Flow Assays Market face?

The lateral flow assays market is faced with a number of obstacles that could hinder its development and performance. When compared to more intricate laboratory-based testing, lateral flow assays may be less sensitive and specific. This could result in false-positive or false-negative results, which would reduce the diagnostic process' accuracy. Moreover, obtaining regulatory clearances for lateral flow assays can be a difficult and drawn-out process. Manufacturers may encounter difficulties adhering to numerous regulatory standards and rules, such as those established by the FDA or European Medicines Agency, which might delay the launch of a product or its introduction to the market.

In what ways has the COVID-19 pandemic affected Global Lateral Flow Assays Market?

The market for lateral flow assays has experienced significant effects as a result of the COVID-19 epidemic. Rapid antigen tests and point-of-care diagnostics saw a sharp increase in demand as these tests proved crucial for containing the virus's transmission. The development and use of lateral flow assays created especially for COVID-19 testing increased dramatically on the market. Worldwide, governments, healthcare institutions, and businesses made significant investments in expanding production capabilities, research, and the creation of new test formats. The market was positioned for significant advancements beyond the pandemic as a result of the increased demand for and focus on lateral flow tests, which resulted in significant market growth, expanded application areas, and rapid innovation in the industry.

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Scope of the Report:

Report Metric	Details
Market size available for years	2019-2033
Base year considered	2022
Forecast period	2023-2033
Segments covered	By Product, By Application, By Technique, By Test-type, By End User
Regions covered	Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered	Abbott Laboratories, bioMÃ©rieux SA, Bio-Rad Laboratories, Inc, Danaher Corporation, F. Hoffmann-La Roche AG, Hologic, Inc., Merck KGaA, PerkinElmer, Inc., QIAGEN N.V., Quidel Corporation, Siemens Healthineers, Thermo Fisher Scientific, Inc., Others

Key Target Audience:

Diagnostic Test Manufacturers
Distributors and Suppliers
Healthcare Providers
Patients and Consumers
Pharmaceutical and Biotechnology Companies
Point-of-Care Testing Facilities
Others

Global Lateral Flow Assays Market Segmentation:

1. By Product:

Global Lateral Flow Assays Market Value Share and Forecast, By Product, 2023-2033
Kits & Reagents
Lateral Flow Readers
Benchtop Readers
Digital Readers

2. By Application:

Global Lateral Flow Assays Market Value Share and Forecast, By Application, 2023-2033
Clinical Testing
Veterinary Diagnostics
Food Safety & Environment Testing
Drug Development & Quality Testing

3. By Technique:

Global Lateral Flow Assays Market Value Share and Forecast, By Technique, 2023-2033
Sandwich Assays
Competitive Assays
Multiplex Detection Assays

4. By Test-type:

Global Lateral Flow Assays Market Value Share and Forecast, By Test-type, 2023-2033
Lateral Flow Immunoassay
Nucleic Acid Lateral Flow Assay

5. By Region:

Asia-Pacific
Europe
Middle East & Africa
North America
Latin America

Key Topics Covered in the Report:

Global Lateral Flow Assays Market Size (FYâ€™2023-FYâ€™2033)
Overview of Global Lateral Flow Assays Market
Segmentation of Global Lateral Flow Assays Market By Product (Kits & Reagents, Lateral Flow Readers)
Segmentation of Global Lateral Flow Assays Market By Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, Drug Development & Quality Testing)
Segmentation of Global Lateral Flow Assays Market By Technique (Sandwich Assays, Competitive Assays, Multiplex Detection Assays)
Segmentation of Global Lateral Flow Assays Market By Test-type (Lateral Flow Immunoassay, Nucleic Acid Lateral Flow Assay)
Segmentation of Global Lateral Flow Assays Market By End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care, Pharmaceutical & Biotechnology Companies, Others)
Statistical Snap of Global Lateral Flow Assays Market
Analysis of growth of Global Lateral Flow Assays Market
Problems and Challenges in Global Lateral Flow Assays Market
Competitive Landscape in the Global Lateral Flow Assays Market
Impact of COVID-19 and Demonetization on Global Lateral Flow Assays Market
Details on Recent Investment in Global Lateral Flow Assays Market
Competitive Analysis of Global Lateral Flow Assays Market
Key Players in the Global Lateral Flow Assays Market
SWOT Analysis of Global Lateral Flow Assays Market
Global Lateral Flow Assays Market Future Outlook and Projections (FYâ€™2023-FYâ€™2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Lateral Flow Assays Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERâ€™s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Lateral Flow Assays Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Lateral Flow Assays Market

7. Global Lateral Flow Assays Market, By Product (USD Million)

7.1. Global Lateral Flow Assays Market Value Share and Forecast, By Product, 2023-2033
7.2. Kits & Reagents
7.3. Lateral Flow Readers

7.3.1. Benchtop Readers
7.3.2. Digital Readers

8. Global Lateral Flow Assays Market, By Application (USD Million)

8.1. Global Lateral Flow Assays Market Value Share and Forecast, By Application, 2023-2033
8.2. Clinical Testing
8.3. Veterinary Diagnostics
8.4. Food Safety & Environment Testing
8.5. Drug Development & Quality Testing

9. Global Lateral Flow Assays Market, By Technique (USD Million)

9.1. Global Lateral Flow Assays Market Value Share and Forecast, By Technique, 2023-2033
9.2. Sandwich Assays
9.3. Competitive Assays
9.4. Multiplex Detection Assays

10. Global Lateral Flow Assays Market, By Test-type (USD Million)

10.1. Global Lateral Flow Assays Market Value Share and Forecast, By Test-type, 2023-2033
10.2. Lateral Flow Immunoassay
10.3. Nucleic Acid Lateral Flow Assay

11. Global Lateral Flow Assays Market, By End User (USD Million)

11.1. Global Lateral Flow Assays Market Value Share and Forecast, By End User, 2023-2033
11.2. Hospitals & Clinics
11.3. Diagnostic Laboratories
11.4. Home Care
11.5. Pharmaceutical & Biotechnology Companies
11.6. Others

12. Global Lateral Flow Assays Market Forecast, 2019-2033 (USD Million)

12.1. Global Lateral Flow Assays Market Size and Market Share

13. Global Lateral Flow Assays Market, By Product, 2019-2033 (USD Million)

13.1. Global Lateral Flow Assays Market Size and Market Share By Product (2019-2026)
13.2. Global Lateral Flow Assays Market Size and Market Share By Product (2027-2033)

14. Global Lateral Flow Assays Market, By Application, 2019-2033 (USD Million)

14.1. Global Lateral Flow Assays Market Size and Market Share By Application (2019-2026)
14.2. Global Lateral Flow Assays Market Size and Market Share By Application (2027-2033)

15. Global Lateral Flow Assays Market, By Technique, 2019-2033 (USD Million)

15.1. Global Lateral Flow Assays Market Size and Market Share By Technique (2019-2026)
15.2. Global Lateral Flow Assays Market Size and Market Share By Technique (2027-2033)

16. Global Lateral Flow Assays Market, By Test-type, 2019-2033 (USD Million)

16.1. Global Lateral Flow Assays Market Size and Market Share By Test-type (2019-2026)
16.2. Global Lateral Flow Assays Market Size and Market Share By Test-type (2027-2033)

17. Global Lateral Flow Assays Market, By End User, 2019-2033 (USD Million)

17.1. Global Lateral Flow Assays Market Size and Market Share By End User (2019-2026)
17.2. Global Lateral Flow Assays Market Size and Market Share By End User (2027-2033)

18. Global Lateral Flow Assays Market, By Region, 2019-2033 (USD Million)

18.1. Global Lateral Flow Assays Market Size and Market Share By Region (2019-2026)
18.2. Global Lateral Flow Assays Market Size and Market Share By Region (2027-2033)
18.3. Asia-Pacific
18.3.1. Australia
18.3.2. China
18.3.3. India
18.3.4. Japan
18.3.5. South Korea
18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France
18.4.2. Germany
18.4.3. Italy
18.4.4. Spain
18.4.5. United Kingdom
18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada
18.6.2. Mexico
18.6.3. United States
18.7. Latin America
18.7.1. Argentina
18.7.2. Brazil
18.7.3. Rest of Latin America

19. Company Profile

19.1. Abbott Laboratories
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. bioMÃ©rieux SA
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. Bio-Rad Laboratories, Inc
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Danaher Corporation
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. F. Hoffmann-La Roche AG
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Hologic, Inc.
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. Merck KGaA
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. PerkinElmer, Inc.
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. QIAGEN N.V.
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Quidel Corporation
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. Siemens Healthineers
19.11.1. Company details
19.11.2. Financial outlook
19.11.3. Product summary
19.11.4. Recent developments
19.12. Thermo Fisher Scientific, Inc.
19.12.1. Company details
19.12.2. Financial outlook
19.12.3. Product summary
19.12.4. Recent developments
19.13. Others

20. List of Abbreviations

21. Reference Links

22. Conclusion

23. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3

Frequently Asked Questions About This Report

How big is Lateral Flow Assays Market?

Lateral Flow Assays Market is projected to reach USD 25.77 billion by 2033, growing at a CAGR of 2.21% during the forecast period.

What is the growth rate of Lateral Flow Assays Market?

Lateral Flow Assays Market grew in market size from 2023. The Market is expected to reach USD 25.77 billion by 2033, at a CAGR of 2.21% during the forecast period.

What is the anticipated CAGR of Lateral Flow Assays Market during the forecast period?

Lateral Flow Assays Market CAGR of 2.21% during the forecast period.

How can I get a sample report on Lateral Flow Assays Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of Lateral Flow Assays Market?

Lateral Flow Assays Market size is USD 25.77 billion from 2023 to 2033.

Which segment is expected to lead Lateral Flow Assays Market?

Lateral Flow Assays Market Segment is Covered By Product, By Application, By Technique, By Test-type, By End User

Which region is expected to have the highest market share in Lateral Flow Assays Market?

The North America region is anticipated to have the highest market share in Lateral Flow Assays Market.

Who are the key players in Lateral Flow Assays Market?

The key players in the market include Companies Covered Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories, Inc, Danaher Corporation, F. Hoffmann-La Roche AG, Hologic, Inc., Merck KGaA, PerkinElmer, Inc., QIAGEN N.V., Quidel Corporation, Siemens Healthineers, Thermo Fisher Scientific, Inc., Others

What is the conclusion of Lateral Flow Assays Market?

The presence or absence of a target analyte in a sample is determined using lateral flow assays, also referred to as lateral flow immunoassays or lateral flow tests.