Lateral Flow Assays Market Going Digital With AI-driven Innovation and Smart Phone Integration, A USD 11 Billion Opportunity for Vendors, Home-Based Tests Creating Buzz-Arizton

According to Arizton's latest research report, the lateral flow assays market will grow at a CAGR of 3% from 2023-2028. Smartphone and AI integration in lateral flow immunoassay, evolving new applications of lateral flow assays, and a surge in demand for lateral flow assays in the food & beverage industry are the growing trends in the global lateral flow assays market. PocDoc, a Cambridge-based startup, received the CE mark approval for its digital reader powered with AI for lateral flow testing. A cloud-based system turns any smartphone or tablet into a universal digital reader, enabling healthcare organizations to perform large-scale lateral flow testing for any disease or marker. In February 2022, an AI-driven innovation that can read a COVID-19 lateral flow diagnostic test using a user's smartphone received special use approval from the MHRA.

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The kits & reagents are expected to be the largest share of the global lateral flow assays market in 2022. These kits & reagents predominantly include biomarkers, assay kits, and reagents, including substrates, enzymes, specific proteins, lipids, and other test kits. The awareness of rapid and POC testing for various infectious diseases is one of the key factors driving the demand for rapid testing. The large market share of the segment is also attributed to the use of consumables reoccurring in nature, and the consumables segment generates continuous revenue for vendors. As a result, many renowned vendors are manufacturing consumables required for analyzers. This growth is attributable to the growing use of rapid tests in several points of care (POC) sites, such as emergency care, physician offices, ambulatory settings, nursing homes, and by individuals for diagnosing several diseases such as infectious diseases, diabetes, cancer, and other metabolic diseases.

GROWING ADOPTION OF HOME-BASED LATERAL FLOW ASSAY DEVICES
Home tests (also called self-tests or home tests) are typically sold over the counter and allow users to test self-collected samples and obtain results without the assistance of a trained medical professional. The home-use lateral flow assay device plays an important role in the treatment of cardiovascular disease and infectious diseases. These devices could also be very useful for testing pregnancy and stigmatized diseases such as HIV, allowing patients to perform self-tests at home. Therefore, the increasing incidence of these diseases and the growing adoption of lateral flow assay testing in home healthcare are expected to propel the lateral flow assays market growth. During COVID-19, many companies have introduced at-home lateral flow assays for COVID-19 testing. The fear of rushing to a diagnostic lab or hospital for testing has created a demand for at-home lateral flow assays. Some of the introduced tests for home use were:
• In August 2020, BinaxNOW COVID-19 Ag Card and Panbio rapid COVID-19 test in September 2020
• In September 2020, Roche launched the SARS-CoV-2 Rapid Antigen test.
• Quidel launched during the COVID-19, Sofia 2 Flu+ SARS Antigen FIA
• In June 2022, Siemens Healthineers launched the CLINITEST Rapid COVID-19 Antigen test and
• BD has launched the BD Veritor SARS CoV-2 Test

VENDOR LANDSCAPE
Abbott, Thermo Fisher Scientific, Siemen Healthineers, F. Hoffmann-la Roche, and Quidel are the major global players in the market. The market is highly consolidated, with key players accounting for major market shares. Moreover, the market also offers tremendous growth opportunities to vendors due to the pandemic. Therefore, vendors prioritize developing and commercializing a wide range of automated and advanced analyzers and rapid test kits and platforms, helping end-users.
In March 2021, F. Hoffmann-La Roche launched the Cobas SARS-CoV-2 Set 1 variant test on their Cobas 6800/8800 systems. The company developed the test to detect and differentiate SARS-CoV-2 mutations in known variants. The company's innovative test helped researchers track mutation prevalence, measure the spread of circulating variants, and screen their latent impact on vaccines, treatments, and public health measures.

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KEY COMPANY PROFILES
• Abbott
• F. Hoffmann-La Roche
• Siemens Healthineers
• Thermo Fisher Scientific
• Quidel
• BD
• Abaxis
• Abingdon Health
• Access BIO
• Arbor Vita
• Assure Tech
• Atomo Diagnostics
• AccuBioTech
• BIOMÉRIEUX
• bioLytical Laboratories
• BIO-RAD Laboratories
• Biosynex
• Cupid
• DIALAB
• HUMAN Gesellschaft für Biochemica und Diagnostica mbH
• INTEC
• J. Mitra & Co. Pvt. Ltd.
• Meril Life Sciences
• MP Biomedicals
• Medsource Ozone Biomedicals
• Nanjing Synthgene Medical Technology
• OraSure Technologies
• Premier Medical
• QIAGEN
• SD Biosensor
• Rega Biotechnology
• KHB
• Türklab A.S.
• Trinity Biotech
• Wondfo
• PerkinElmer
• Merck KGaA

MARKET SEGMENTATION
Product
• Kits & Reagents
• Readers
Application
• Clinical Diagnostics
• Food Safety
• Veterinary Diagnostics
• Others
Technique
• Sandwich Assays
• Competitive Assays
End-Users
• Hospitals & Clinics
• Individuals
• Diagnostic Laboratories
• Food & Beverage Companies
• Pharma & Biotech Companies
• Others
Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Russia
o Spain
• APAC
o China
o Japan
o India
o South Korea
o Australia
o Philippines
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o Turkey

TABLE OF CONTENT
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 MARKET OVERVIEW
6.1.1 MARKET DYNAMICS
6.1.2 MARKET SEGMENTATION
6.1.3 VENDOR ANALYSIS
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
9 MARKET OPPORTUNITIES & TRENDS
9.1 SMARTPHONE & ARTIFICIAL INTELLIGENCE INTEGRATION IN LATERAL FLOW IMMUNOASSAY
9.2 NEW APPLICATIONS OF LFAS
9.3 SURGE IN DEMAND FOR LFAS IN FOOD & BEVERAGE INDUSTRY
10 MARKET GROWTH ENABLERS
10.1 PREVALENCE OF CHRONIC & INFECTIOUS DISEASES
10.2 ADOPTION OF HOME-BASED LFA DEVICES
10.3 DEMAND FOR POC TESTING
11 MARKET RESTRAINTS
11.1 AVAILABILITY OF ALTERNATIVE TESTING APPROACHES
11.2 INCONSISTENT RESULTS & LIMITATIONS OF LFA TESTS
11.3 CHALLENGES IN RAW MATERIAL SOURCING & LFA DEVELOPMENT
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 INSIGHT BY GEOGRAPHY SEGMENTATION
12.2.2 INSIGHT BY PRODUCT SEGMENTATION
12.2.3 INSIGHT BY TECHNIQUE SEGMENTATION
12.2.4 INSIGHT BY APPLICATION SEGMENTATION
12.2.5 INSIGHT BY END-USER SEGMENTATION
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 KITS & REAGENTS
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 READERS
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
14 APPLICATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 CLINICAL DIAGNOSTICS
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 FOOD SAFETY
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5 VETERINARY DIAGNOSTICS
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
14.6 OTHERS
14.6.1 MARKET OVERVIEW
14.6.2 MARKET SIZE & FORECAST
14.6.3 MARKET BY GEOGRAPHY
15 TECHNIQUE
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 SANDWICH ASSAYS
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4 COMPETITIVE ASSAYS
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
16 END-USER
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 HOSPITALS & CLINICS
16.3.1 MARKET OVERVIEW
16.3.2 MARKET SIZE & FORECAST
16.3.3 MARKET BY GEOGRAPHY
16.4 HOME HEALTHCARE
16.4.1 MARKET OVERVIEW
16.4.2 MARKET SIZE & FORECAST
16.4.3 MARKET BY GEOGRAPHY
16.5 DIAGNOSTIC LABORATORIES
16.5.1 MARKET OVERVIEW
16.5.2 MARKET SIZE & FORECAST
16.5.3 MARKET BY GEOGRAPHY
16.6 FOOD & BEVERAGE COMPANIES
16.6.1 MARKET OVERVIEW
16.6.2 MARKET SIZE & FORECAST
16.6.3 MARKET BY GEOGRAPHY
16.7 PHARMA & BIOTECH COMPANIES
16.7.1 MARKET OVERVIEW
16.7.2 MARKET SIZE & FORECAST
16.7.3 MARKET BY GEOGRAPHY
16.8 OTHERS
16.8.1 MARKET OVERVIEW
16.8.2 MARKET SIZE & FORECAST
16.8.3 MARKET BY GEOGRAPHY
17 GEOGRAPHY
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 GEOGRAPHIC OVERVIEW
18 NORTH AMERICA
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 NORTH AMERICA: PRODUCT SEGMENTATION
18.4 NORTH AMERICA: APPLICATION SEGMENTATION
18.5 NORTH AMERICA: TECHNIQUE SEGMENTATION
18.6 NORTH AMERICA: END-USER SEGMENTATION
18.7 KEY COUNTRIES
18.7.1 US: MARKET SIZE & FORECAST
18.7.2 CANADA: MARKET SIZE & FORECAST
19 EUROPE
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 EUROPE: PRODUCT SEGMENTATION
19.4 EUROPE: APPLICATION SEGMENTATION
19.5 EUROPE: TECHNIQUE SEGMENTATION
19.6 EUROPE: END-USER SEGMENTATION
19.7 KEY COUNTRIES
19.7.1 UK: MARKET SIZE & FORECAST
19.7.2 FRANCE: MARKET SIZE & FORECAST
19.7.3 GERMANY: MARKET SIZE & FORECAST
19.7.4 ITALY: MARKET SIZE & FORECAST
19.7.5 RUSSIA: MARKET SIZE & FORECAST
19.7.6 SPAIN: MARKET SIZE & FORECAST
20 APAC
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 APAC: PRODUCT SEGMENTATION
20.4 APAC: APPLICATION SEGMENTATION
20.5 APAC: TECHNIQUE SEGMENTATION
20.6 APAC: END-USER SEGMENTATION
20.7 KEY COUNTRIES
20.7.1 INDIA: MARKET SIZE & FORECAST
20.7.2 CHINA: MARKET SIZE & FORECAST
20.7.3 JAPAN: MARKET SIZE & FORECAST
20.7.4 SOUTH KOREA: MARKET SIZE & FORECAST
20.7.5 AUSTRALIA: MARKET SIZE & FORECAST
20.7.6 PHILIPPINES: MARKET SIZE & FORECAST
21 LATIN AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 LATIN AMERICA: PRODUCT SEGMENTATION
21.4 LATIN AMERICA: APPLICATION SEGMENTATION
21.5 LATIN AMERICA: TECHNIQUE SEGMENTATION
21.6 LATIN AMERICA: END-USER SEGMENTATION
21.7 KEY COUNTRIES
21.7.1 BRAZIL: MARKET SIZE & FORECAST
21.7.2 MEXICO: MARKET SIZE & FORECAST
21.7.3 ARGENTINA: MARKET SIZE & FORECAST
22 MIDDLE EAST & AFRICA
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.3 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION
22.4 MIDDLE EAST & AFRICA: APPLICATION SEGMENTATION
22.5 MIDDLE EAST & AFRICA: TECHNIQUE SEGMENTATION
22.6 MIDDLE EAST & AFRICA: END-USER SEGMENTATION
22.7 KEY COUNTRIES
22.7.1 TURKEY: MARKET SIZE & FORECAST
22.7.2 SAUDI ARABIA: MARKET SIZE & FORECAST
22.7.3 SOUTH AFRICA: MARKET SIZE & FORECAST
23 COMPETITIVE LANDSCAPE
23.1 COMPETITION OVERVIEW
23.2 MARKET SHARE ANALYSIS
24 KEY COMPANY PROFILES
24.1 ABBOTT
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.1.3 KEY STRATEGIES
24.1.4 KEY STRENGTHS
24.1.5 KEY OPPORTUNITIES
24.2 F. HOFFMANN-LA ROCHE
24.3 SIEMENS HEALTHINEERS
24.4 THERMO FISHER SCIENTIFIC
24.5 QUIDEL
25 OTHER PROMINENT VENDORS
25.1 ABAXIS
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.2 ABINGDON HEALTH
25.3 ACCESS BIO
25.4 ARBOR VITA
25.5 ASSURE TECH
25.6 ATOMO DIAGNOSTICS
25.7 ACCUBIOTECH
25.8 BD
25.9 BIOMÉRIEUX
25.1 BIOLYTICAL LABORATORIES
25.11 BIO-RAD LABORATORIES
25.12 BIOSYNEX
25.13 CUPID
25.14 DIALAB
25.15 HUMAN GESELLSCHAFT FÜR BIOCHEMICA UND DIAGNOSTICA MBH
25.16 INTEC
25.17 J. MITRA & CO. PVT.LTD.
25.18 KHB
25.19 MERIL LIFE SCIENCES
25.20 MERCK KGAA
25.21 MP BIOMEDICALS
25.22 MEDSOURCE OZONE BIOMEDICALS
25.23 NANJING SYNTHGENE MEDICAL TECHNOLOGY
25.24 ORASURE TECHNOLOGIES
25.25 PERKINELMER
25.26 PREMIER MEDICAL
25.27 QIAGEN
25.28 REGA BIOTECHNOLOGY
25.29 SD BIOSENSOR
25.30 TÜRKLAB A.S.
25.31 TRINITY BIOTECH
25.32 WONDFO
26 REPORT SUMMARY
26.1 KEY TAKEAWAYS
26.2 STRATEGIC RECOMMENDATIONS
27 QUANTITATIVE SUMMARY
27.1 MARKET BY PRODUCT
27.1.1 NORTH AMERICA: PRODUCT SEGMENTATION
27.1.2 EUROPE: PRODUCT SEGMENTATION
27.1.3 APAC: PRODUCT SEGMENTATION
27.1.4 LATIN AMERICA: PRODUCT SEGMENTATION
27.1.5 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION
27.2 MARKET BY TECHNIQUE
27.2.1 NORTH AMERICA: TECHNIQUE SEGMENTATION
27.2.2 EUROPE: TECHNIQUE SEGMENTATION
27.2.3 APAC: TECHNIQUE SEGMENTATION
27.2.4 LATIN AMERICA: TECHNIQUE SEGMENTATION
27.2.5 MIDDLE EAST & AFRICA: TECHNIQUE SEGMENTATION
27.3 MARKET BY APPLICATION
27.3.1 NORTH AMERICA: APPLICATION SEGMENTATION
27.3.2 EUROPE: APPLICATION SEGMENTATION
27.3.3 APAC: APPLICATION SEGMENTATION
27.3.4 LATIN AMERICA: APPLICATION SEGMENTATION
27.3.5 MIDDLE EAST & AFRICA: APPLICATION SEGMENTATION
27.4 MARKET BY END-USER
27.4.1 NORTH AMERICA: END-USER SEGMENTATION
27.4.2 EUROPE: END-USER SEGMENTATION
27.4.3 APAC: END-USER SEGMENTATION
27.4.4 LATIN AMERICA: END-USER SEGMENTATION
27.4.5 MIDDLE EAST & AFRICA: END-USER SEGMENTATION
27.5 MARKET BY GEOGRAPHY
27.5.1 KITS & REAGENTS: GEOGRAPHY SEGMENTATION
27.5.2 READERS: GEOGRAPHY SEGMENTATION
27.5.3 CLINICAL DIAGNOSTICS: GEOGRAPHY SEGMENTATION
27.5.4 FOOD SAFETY: GEOGRAPHY SEGMENTATION
27.5.5 VETERINARY DIAGNOSTICS: GEOGRAPHY SEGMENTATION
27.5.6 OTHERS: GEOGRAPHY SEGMENTATION
27.5.7 SANDWICH ASSAYS: GEOGRAPHY SEGMENTATION
27.5.8 COMPETITIVE ASSAYS: GEOGRAPHY SEGMENTATION
27.5.9 HOSPITALS & CLINICS: GEOGRAPHY SEGMENTATION
27.5.10 HOME HEALTHCARE: GEOGRAPHY SEGMENTATION
27.5.11 DIAGNOSTIC LABORATORIES: GEOGRAPHY SEGMENTATION
27.5.12 FOOD & BEVERAGE COMPANIES: GEOGRAPHY SEGMENTATION
27.5.13 PHARMA & BIOTECH COMPANIES: GEOGRAPHY SEGMENTATION
27.5.14 OTHERS: GEOGRAPHY SEGMENTATION
28 APPENDIX
28.1 ABBREVIATIONS

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