Lateral Flow Assay Market Overview by Key Top Players Like Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific Inc. and Siemens AG for Forecast to 2023

The Lateral flow assay market report analyzes various types of kits & reagents and their adoption pattern. It aims at estimating market size and future growth potential of global lateral flow assay market for different segments like product, application, technique, end user, and region. Report also includes an in-depth competitive analysis of key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.

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Lateral flow assay market is projected to reach USD 8.24 billion by 2022, growing at a CAGR of 8.2% from 2017 to 2022. “Lateral flow readers segment expected to register highest CAGR during forecast period.” “APAC is projected to witness highest growth during forecast period.”

Executive Summary

Premium Insights
4.1 Market Overview
4.2 Market: Developed vs Developing Countries/Region
4.3 Market: Major Countries
4.4 Geographic Mix: Market
4.5 Market in Asia Pacific, By Application and Countries

Market Overview
5.1 Introduction
5.2 Market Dynamics: Impact Analysis
5.2.1 Market Drivers
5.2.1.1 High Prevalence of Infectious Diseases Across the Globe
5.2.1.2 Rapidly Increasing Geriatric Population
5.2.1.3 Growing Usage of Home-Based Lateral Flow Assay Devices
5.2.1.4 Growing Demand for Point-Of-Care Testing
5.2.2 Market Restraints
5.2.2.1 Reluctance Towards Changing Existing Diagnostic Practices
5.2.2.2 Implementation of Excise Duty on Medical Devices in the US
5.2.3 Market Opportunities
5.2.3.1 Evolving Applications of Lateral Flow Assays
5.2.3.2 Rising Demand for Lateral Flow Assays in the Food & Beverage Industry
5.2.4 Challenges
5.2.4.1 Limited Reimbursements for Lateral Flow Assay Products

Key players lateral flow assay market are Alere, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Siemens AG (Germany), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Johnson & Johnson (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherlands), and PerkinElmer, Inc. (U.S.).

Lateral flow assay, also known as immunochromatographic assays, are simple devices intended to detect presence (or absence) of a target analyte in a sample (matrix). Factiva, and Avention, and annual reports of companies have been used to identify and collect information useful for study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market.

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The lateral flow assay market segmented into clinical/point-of-care testing, veterinary diagnostics, food safety and environmental testing, and drug development & quality control testing. Food safety and environmental testing segment expected to grow at highest CAGR during forecast period. High growth of this segment driven by shifting of food & beverage industry from lab-based conventional microbiology techniques to rapid lateral flow assay tests.

Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Integration of Microfluidic Technology in Lateral Flow Assays
6.2.2 Demand for Quantitative Results
6.2.3 Rising Demand for Multiplexed Lateral Flow Biosensors
6.3 Value Chain Analysis
6.4 Supply Chain Analysis
6.5 Regulatory Analysis
6.5.1 North America
6.5.2 Europe
6.5.3 Asia
6.5.3.1 India
6.5.3.2 China
6.5.3.3 Japan
6.6 Parent Markets Analysis

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Geographically, lateral flow assay market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2016, North America held largest share of this market, and this is primarily attributed to the presence of a highly developed healthcare system, rising geriatric population, increasing incidence of chronic diseases, quick adoption of new innovative products, and a large number of lateral flow assay kits manufacturing companies in this region.

The global lateral flow assay market by end user is segmented into hospitals and clinics, home care, diagnostic laboratories, pharmaceutical & biotechnology companies, and other end users. In 2016, the hospitals and clinics segment accounted for the largest share of the market.

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