Global Lateral Flow Assay Market, By Product Type (Laparoscopes, Energy Devices, Insufflators, Suction/Irrigation Systems, Closure Devices, Hand Instruments, Access Devices, Laparoscopic Scissors, Laparoscopic Hooks and Accessories), Application (General Surgery, Bariatric Surgery, Gynaecological Surgery, Urological Surgery, Colorectal Surgery, Paediatric Surgery and Others), End User (Hospitals, Ambulatory Surgical Centres and Specialty Clinics) – Industry Trends and Forecast to 2029
Market Analysis and Size
Lateral Flow Assays (LFAs) were developed over a half-century ago to aid in diagnosis in a variety of applications, including healthcare, environmental testing, and food and beverage. The use of LFAs in point-of-care diagnostic settings has gained significant traction in the research community, fuelling the growth of the lateral flow assay market.
Data Bridge Market Research analyses that the lateral flow assay market is expected to reach the value of USD 12.75 billion by the year 2029, at a CAGR of 8.29% during the forecast period. The high consumption rate for home-based lateral flow testing products and solutions, combined with the need for better point-of-care testing products, will drive growth in the lateral flow assay market from 2022 to 2029.
The lateral flow assay is a diagnostic technique involving the biochemical interaction of antibodies and probe DNA. This method ensures that the test is carried out in a highly simplified manner, at a low cost, and without the need for any interference. It can also be performed by untrained individuals because it is based on a highly user-friendly form of testing.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
Product Type (Pasta & Spreads, Dips, Deserts, Sauces, Others), Packaging Type (Bottles & Jars, Tubs, Others), Distribution Channels (Store Based, Non-Store Based),
U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Beckman Coulter, Inc. (U.S.), STRATEC SE (Germany), PerkinElmer, Inc. (U.S.), DRG International, Inc. (U.S.), MP BIOMEDICALS (U.S.), Cisbio (France), Euro Diagnostica AB (Sweden), Tecan Trading AG ( Switzerland), DiaSorinS.p.A. (Italy), EMD Millipore (U.S.), iZotope, Inc. (U.S.), DIAsource (U.S.), Berthold Technologies GmbH & Co. KG (Germany)
Lateral flow assay Market Dynamics
- The rapid antigen testing promotes market growth
Rapid antigen testing at the point of care is possible with lateral flow assay devices, which can provide results in less time than ELISA tests. Furthermore, lateral flow assay tests have been rapidly adopted in the veterinary sector, boosting overall market growth.
- The significant collaborations among key market players
Technological advancements and significant collaboration efforts among key pharmaceutical industry players, funding programmes, and the presence of reimbursement agencies will drive even higher demand for lateral flow rapid test diagnostics.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the lateral flow assay market.
New techniques, such as CAD and CAM technologies, have reduced design time and increased precision in procedures such as implant placement. Computer-generated virtual treatment aids dental doctors in providing patients with a better fit and deciding where to place implants in patients. Such factors are expected to drive the market's overall expansion.
The high cost of lateral flow assay is a significant barrier to market growth. A lack of awareness and a scarcity of professional dentists are impeding market growth in low-income countries.
This lateral flow assay market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lateral flow assay market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Lateral Flow Assay Market
Since the outbreak of the novel coronavirus (COVID-19), there has been an urgent need for diagnostic solutions, including lateral flow assays, as they are a critical component of the COVID-19 pandemic management. COVID-19 incidence increased exponentially across countries by 2020, prompting key operating players to invest in R&D for rapid tests. As a result, several antibody/antigen tests have been launched.
- Eurofins Technologies will launch its RapidScan ST5-W lateral flow reader in December 2021, designed for field and in-process testing applications requiring qualitative to semi-quantitative test results.
- Abbott announced in January 2021 that it had received CE Mark for two new applications of its Panbio COVID-19 Ag Rapid Test Device for the detection of the SARS-CoV-2 virus.
Global Lateral Flow Assay Market Scope
The lateral flow assay market is segmented on the basis of product, technique, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Kits and Reagents
- Lateral flow readers
Based on product, the lateral flow assay market is segmented into kits & reagents and lateral flow readers. Kits & reagents have been sub-segmented into test strip, dipstick, cassette and lancets; Lateral flow readers are sub-segmented into digital/mobile readers and benchtop readers.
- Sandwich assays
- Competitive assays
- Multiplex detection assays
Based on technique, the lateral flow assay market is segmented into sandwich assays, competitive assays and multiplex detection assays.
- Hospitals and Clinics
- Home care
- Pharma and biotech companies
- Diagnostic laboratories
On the basis of end user, the lateral flow assay market is segmented as hospitals & clinics, home care, pharmaceutical & biotechnology companies, diagnostic laboratories and others.
- clinical/POCT testing
- veterinary diagnostics
- food safety & environment testing
- drug development & quality testing
On the basis of application, the lateral flow assay market is segmented into clinical/POCT testing, veterinary diagnostics, food safety & environment testing and drug development & quality testing. Clinical/POC (Point-of-Care) testing is sub-segmented into infectious disease testing, cardiac marker testing, pregnancy & fertility testing, cholesterol testing/lipid profile, drugs of abuse testing and other clinical/POC (Point-of-Care) testing. Infectious disease testing is sub-segmented into mosquito-borne disease testing, influenza testing, sexually transmitted infection testing, hepatitis, tuberculosis and other infectious disease tests. Sexually transmitted infection testing are further segmented into HIV testing, HPV testing, chlamydia testing, gonorrhoea testing, syphilis testing and other sexually transmitted infection testing. Cardiac marker testing are sub-segmented into troponin I & T testing, CK-MB testing, BNP & NT-Propbnp Testing, myoglobin testing, D-dimer testing and other cardiac marker tests. Pregnancy & fertility testing are sub-segmented into pregnancy testing and fertility testing.
- Distribution channel
- Hospital pharmacies
- Retail pharmacies
Lateral flow assay market has also been segmented into hospital pharmacies, retail pharmacies, supermarket/hypermarket and e-commerce on the basis of distribution channel.
Lateral Flow Assay Market Regional Analysis/Insights
The lateral flow assay market is analysed and market size insights and trends are provided by country, product, technique, application, end user and distribution channel as referenced above.
The countries covered in the lateral flow assay market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The lateral flow assay market will be dominated by North America. The availability of advanced healthcare infrastructure and services, as well as rising incidences of target chronic disorders due to the region's growing geriatric population, are expected to strengthen this region's position. Collaboration on innovations and advancements with other market players has been one of the major factors driving this market's significant growth potential due to the presence of major market players in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The lateral flow assay market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for lateral flow assay market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the lateral flow assay market. The data is available for historic period 2010-2020.
Competitive Landscape and Lateral Flow Assay Market Share Analysis
The lateral flow assay market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lateral flow assay market.
Some of the major players operating in the lateral flow assay market are Beckman Coulter, Inc. (U.S.)
- STRATEC SE (Germany)
- PerkinElmer, Inc. (U.S.)
- DRG International, Inc. (U.S.)
- MP BIOMEDICALS (U.S.)
- Cisbio (France)
- Euro Diagnostica AB (Sweden)
- Tecan Trading AG (Switzerland)
- DiaSorinS.p.A. (Italy)
- EMD Millipore (U.S.)
- iZotope, Inc. (U.S.)
- DIAsource (U.S.)
- Berthold Technologies GmbH & Co. KG (Germany)