Lateral Flow Assays Market Size, Share, Industry Analysis, Segments And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Lateral Flow Assays Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The lateral flow assays market size has grown strongly in recent years. It will grow from $11.25 billion in 2023 to $12.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to diagnostic advancements, rise in infectious diseases, application in pregnancy testing, growth in home healthcare, development of immunochromatography, point-of-care testing expansion.

The lateral flow assays market size is expected to see strong growth in the next few years. It will grow to $16.38 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to expanding applications in disease detection, adoption in home testing kits, expansion in veterinary diagnostics, development of multiplex assays, rise in food and environmental testing. Major trends in the forecast period include personalized medicine and home testing, advancements in manufacturing techniques, environmental and food safety testing, focus on cost-effectiveness, application in drug and biomarker detection.

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=6359&type=smp

Market Segmentation:
The lateral flow assays market covered in this report is segmented -
1) By Type: Kits And Reagents, Lateral Flow Readers
2) By Technique: Sandwich Assays, Competitive Assays, Multiplex Detection Assays
3) By Application: Veterinary Diagnostics, Clinical/Point-Of-Care Testing, Drug Development And Quality Testing, Other Applications
4) By End-User: Hospitals And Clinics, Diagnostic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies, Other End Users

Major Driver - Surge In Infectious Diseases Drives Expansion Of Lateral Flow Assay Market
The high prevalence of infectious diseases across the globe significantly contributes to the growth of the lateral flow assay market. In developing countries, the high frequency of infectious diseases such as HIV and malaria, combined with the inadequate healthcare system and rising public awareness, is projected to accelerate the adoption of lateral flow assay testing. The recent COVID-19 pandemic has highlighted the need for early illness detection capabilities, projected to fuel market expansion. According to the World Health Organization (WHO), in 2021, an estimated 10.6 million people were infected with tuberculosis globally, 1.6 million died, and 1.5 million people acquired HIV in 2021 while 650,000 people lost lives due to it. Therefore, the high prevalence of infectious diseases across the globe will contribute to the growth of the lateral flow assay market.

Competitive Landscape:
Major companies operating in the lateral flow assays market report are Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Merck KGaA, Hologic Inc., BioMérieux SA, PerkinElmer Inc., Quidel Corporation, Bio-Rad Laboratories Inc., Roche Holding AG, QIAGEN N.V., Alere Inc., OraSure Technologies Inc., Meridian Bioscience Inc., DiaSorin S.p.A., Molbio Diagnostics, Trinity Biotech, Chembio Diagnostics Inc., Novus Biologicals Inc., Coris BioConcept, HYCOR Biomedical, Diagnostic BioSystems GmbH, Express Diagnostics Ltd., Fujirebio Diagnostics Inc., Innova Diagnostics Inc., Leadtec Diagnostics Inc., S&D Diagnostics Inc., Standard Diagnostics Inc., St. Croix Biosciences Inc., V-Chek Diagnostics

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/lateral-flow-assays-global-market-report

Top Trend - Portable Lateral Flow Reader For On-The-Go Testing In Food And Environmental Settings
Major companies in the lateral flow assay market are focused on developing versatile products, such as lateral flow readers, for providing on-the-go testing and to gain a competitive edge in the market. A lateral flow reader is a portable device used for quick and qualitative analysis of lateral flow assays, providing efficient results in various testing environments. For instance, in December 2021, Eurofins Technologies, a Luxembourg-based provider of diagnostic technologies, launched the RapidScan ST5-W lateral flow reader to address the need for a flexible, user-friendly, and accurate imaging platform for on-the-go testing in food and environmental settings. The instrument, with compatibility for various lateral flow tests, aims to provide quick and reliable results for contamination analysis, catering to both laboratory and field environments.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lateral Flow Assays Market Characteristics
3. Lateral Flow Assays Market Trends And Strategies
4. Lateral Flow Assays Market - Macro Economic Scenario
5. Lateral Flow Assays Market Size And Growth
…..
27. Lateral Flow Assays Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

This release was published on openPR.