Lateral Flow Assay Market by Size | Growth | Analysis | Trends and Forecasts to 2018-2026

Global Lateral Flow Assay Market was valued US$ 5.8 Bn in 2017 and is expected to reach US$ 10.63 Bn by 2026, at a CAGR of 7.87 % during a forecast period. The lateral flow assay market is segmented into a product, application, end-user, technique, and region. In terms of product, lateral flow assay market is segmented into kits & reagents, lateral flow readers, digital & mobile readers, and bench top readers. Based on application segment, lateral flow assay market is classified into clinical testing, veterinary diagnostics, drug development & quality testing, and food safety & environmental safety. Further end-user, lateral flow assay market is divided into hospitals and clinics, diagnostic laboratories, home care, pharmaceutical and biotechnology companies, and other end users.

In terms of the technique, the lateral flow assay market is classified into competitive assays, sandwich assays, and multiplex detection assays. Based on regions, the global lateral flow assay market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa. Global Lateral Flow Assay Market On the basis of product, the kits & reagents segment is accounted for the largest share of the global lateral flow assay market during the forecast period owing to the increasing application of lateral flow kits & reagents for point-of-care testing, the growing burden of chronic diseases, and increasing use of lateral flow kits in home care.

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Based on application, the clinical testing segment accounted for the largest share of the lateral flow assay market due to the rise in population levels & prevalence of chronic diseases, growing pressure to reduce healthcare costs, and increasing demand for patient-centric care is boosting the growth of the clinical testing market. The high prevalence of infectious diseases worldwide, rapidly growing geriatric population, growing demand for point-of-care testing, and increased use of rapid testing in-home care settings are propelling the growth of the lateral flow assay market.

Additionally, Lateral flow assay market is witnessing a robust growth due to the increasing incidences of infectious and communicable diseases. The major hindering factor of the global lateral flow assays market is lack of trained caretakers for the efficient operation of patient handling equipment, fewer reimbursements policies for lateral flow assay products. Additionally, variance in lateral flow assay test results and stringent regulation & inconsistency in test results are projected to restrain the global lateral flow assay market.

Rising demand for lateral flow assays in the food & beverage industry and increasing applications of lateral flow point-of-need assays are major opportunities of the global lateral flow assays market. Geographically, North America accounted for the largest share of the lateral flow assay market during forecast period, followed by Europe, and Asia Pacific due 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 key player operating in the global lateral flow assay market are Roche, Danaher Corporation, Siemens, Johnson & Johnson, Becton Dickinson, bioM�rieux, Bio-Rad Laboratories, Thermo Fisher Scientific, Qiagen, Perkinelmer, Inc., Abbott, Hologic, Inc., Quidel, Abingdon Health, Alere, Inc, Trinity Biotech, and Lumos Diagnostics.

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Scope of global lateral flow assay market:
Global Lateral flow assay market, by Product:
o Kits & Reagents o Lateral Flow Readers o Digital & Mobile Readers o Benchtop Readers

Global Lateral flow assay market, by Application:
o Clinical Testing o Veterinary Diagnostics o Drug Development & Quality Testing o Food Safety & Environmental Safety

Global Lateral flow assay market, by End-User:
o Hospitals and Clinics o Diagnostic Laboratories o Home Care o Pharmaceutical and Biotechnology Companies o Other End Users

Global Lateral flow assay market, by Technique:
o Competitive Assays o Sandwich Assays o Multiplex Detection Assays

Global Lateral flow assay market, by Region:
o North America o Europe o Asia Pacific o Latin America o Middle East & Africa

The key player operating in the Global Lateral flow assay market:
o Roche o Danaher Corporation o Siemens o Johnson & Johnson o Becton Dickinson o bioM�rieux o Bio-Rad Laboratories o Thermo Fisher Scientific o Qiagen, Perkinelmer, Inc. o Abbott o Hologic, Inc. o Quidel o Abingdon Health o Alere, Inc o Trinity Biotech o Lumos Diagnostic

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