Lateral Flow Assay Market Key Players : Abbott Laboratories, Alere Inc., Becton Dickinson and Company, Bio-Rad Laboratories, Inc.

Lateral flow assays, also known as lateral flow immunochromatographic assays, are devices used to detect the presence (or absence) of a target analyte in sample (matrix). These assays are widely used in hospitals and clinical laboratories for the qualitative and quantitative detection of specific antigens and antibodies.

The key players operating in the market are Abbott Laboratories, Alere Inc., Becton Dickinson and Company, Bio-Rad Laboratories, Inc., Biomrieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd, Johnson & Johnson, Qiagen N.V., Siemens AG, and Thermo Fisher Scientific, Inc.

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Factors such as high prevalence of infectious diseases, rise in geriatric population, growth in demand for home-based lateral flow assay test kits, increase in disposable income, and surge in demand for point-of-care testing drive the growth of the global lateral flow assay market. However, stringent and time-consuming regulatory policies for assays performed to detect presence or absence of any analyte and unwillingness of people towards changing the existing medical practices restrain the market growth. Advancement of technology and increase in applications of lateral flow assay tests in clinical diagnostics provide lucrative opportunities for the market growth.

The lateral flow assay market is segmented on the basis of product, technique, application, end user, and region. Based on product, the market is bifurcated into lateral flow readers and kits & reagents. The lateral flow readers segment is subsegmented into digital/mobile readers and benchtop readers. By technique, the market is classified into competitive assay, sandwich assay, and multiplex detection assay. Applications covered in the study include veterinary diagnostics, clinical/point-of-care testing, and drug development & quality testing.

Clinical/point-of-care testing segment is further divided into infectious disease testing, cardiac marker testing, pregnancy & fertility testing, cholesterol & lipid testing, drugs-of-abuse testing, and others. According to end user, the market is segmented into home care, diagnostic laboratories, hospitals & clinics, and pharmaceutical & biotechnology companies. Geographically, it is analyzed across North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Key Benefits

• The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
• Comprehensive analysis of all geographical regions is provided, which helps to determine the prevailing opportunities.
• Key players are profiled and their strategies are analyzed thoroughly, which help to understand competitive outlook of the global market.
• The report offers a quantitative analysis from 2017 to 2023, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
• Exhaustive analysis of the lateral flow assay market by product helps to understand the types of technology that are currently being used along with the variants that are expected to gain prominence in the future.

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