Press release
Lateral Flow Assay Industry to Expand at 5.1% CAGR, Expected to Exceed US$ 14,844.6 Million by 2034
Lateral Flow Assay Market
The increasing prevalence of infectious diseases such as tuberculosis, malaria, HIV, and hepatitis is a primary driver of the lateral flow assay market. Lateral flow assays (LFAs) are rapid diagnostic tests widely used to detect various diseases in healthcare settings. These tests are easy to use, provide quick results, and require minimal training, making them an ideal choice for point-of-care testing.
Technological advancements have led to the development of innovative LFA products, including multiplex assay tests, which can detect multiple analytes simultaneously, thereby increasing efficiency and reducing costs. The rise in the prevalence of chronic diseases and the need for early diagnosis contribute to the growth of the lateral flow assay industry.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7246
The growing geriatric population and the increasing demand for home-based diagnostic tests are expected to fuel market growth. LFAs are user-friendly, cost-effective, and provide rapid results, making them suitable for home use and in remote or resource-limited settings.
Key Takeaway from Market Study:
The global lateral flow assay market is forecasted to expand at a CAGR of 5.1% from 2024 to 2034.
The LFA kits segment is the leading product type in the market, with an expected market share of 77.2% in 2024.
The East Asia lateral flow assay market is forecasted to expand at a CAGR of 5.6% through 2034.
North America is projected to hold a 43.8% share of the indwelling catheters market in 2024.
Lateral flow assay kits are projected to grow at a CAGR of 5.2% from 2024 to 2034.
"Market players should invest in cost-effective manufacturing techniques and innovative lateral flow assay technologies to enhance affordability and accessibility, ensuring wider adoption across healthcare, food safety, and environmental sectors while addressing rising demand for rapid diagnostics," says a Fact.MR analyst.
Growing Demand for Lateral Flow Assay (LFA) Kits:
The demand for LFA kits is expected to grow at a CAGR of 5.2% through 2034, driven by their ease of use, rapid results, and cost-effectiveness. These kits dominate the lateral flow assay market, particularly for point-of-care and home-based testing. The rising prevalence of infectious diseases and the need for on-site testing further fuel demand. Market players are focusing on developing innovative LFA test kits with enhanced accuracy and sensitivity, ensuring quicker and more reliable diagnostic results for healthcare professionals and individuals alike.
Key Market Players:
ThermoFisher Scientific Inc.
Meridian Bioscience Inc.
Abbott Laboratories
Becton, Dickinson & Company
PerkinElmer Inc.
Siemens Healthineers
Abcam plc.
Access Bio, Inc.
Humasis Co. Ltd
Hoffmann-La Roche
Bio-Rad Laboratories, Inc.
Maternova Inc.
Quidel Corporation
QIAGEN N.V.
bioMérieux SA
Healgen Scientific, LLC.
DIALUNOX GmbH
Detekt Biomedical LLC
Competitive Landscape:
Key players in the lateral flow assay market are focusing on developing one-step assays that eliminate the need for washing or sample preparation while ensuring high sensitivity and specificity. Companies are also consolidating through mergers and acquisitions to strengthen their market position.
Active product marketing and promotion remain crucial strategies for expanding the consumer base. Leading industry players include ThermoFisher Scientific Inc., Meridian Bioscience Inc., Abbott Laboratories, Becton, Dickinson & Company, PerkinElmer Inc., and Siemens Healthineers.
In 2021, Abbott announced that its Panbio COVID-19 Ag Rapid Test Device received CE Mark approval for asymptomatic screening and self-administered nasal swab sample collection for detecting the SARS-CoV-2 virus.
Want Full Report? Enquire Here- https://www.factmr.com/report/lateral-flow-assays-market
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the lateral flow assay market, presenting historical demand data and forecast statistics for the period (2024 to 2034).
The lateral flow assay market is categorized based on product type, application, distribution channel, and region. Product types include readers and LFA kits, with the latter being widely used due to their ease of use and rapid results. Applications range from infectious disease detection and sexually transmitted diseases to diabetes, pregnancy and fertility testing, and drug abuse testing. Distribution channels include hospital and retail pharmacies, supermarkets/hypermarkets, and e-commerce platforms. Geographically, the market is segmented into North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com
About Fact.MR:
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lateral Flow Assay Industry to Expand at 5.1% CAGR, Expected to Exceed US$ 14,844.6 Million by 2034 here
News-ID: 3951914 • Views: …
More Releases from Fact.MR
Fine Blanking Tools Market Projected to Reach USD 1.43 Billion by 2035 | U.S. CA …
The global Fine Blanking Tools Market is set for steady growth over the next decade, driven by rising demand for high-precision components, ongoing industrial automation, and surging requirements from automotive, electronics, and aerospace sectors. According to a recent forecast, the market is expected to grow from approximately USD 948.1 million in 2025 to USD 1,430.6 million by 2035, at a compound annual growth rate (CAGR) of about 4.2 % between…
Benzodiazepine Drugs Market is Expanding USD 5.4 billion by 2035 | Pfizer Inc.; …
The global benzodiazepine drugs market is projected to expand in the coming decade, driven by growing incidence of anxiety, insomnia, alcohol-withdrawal disorders, and advances in pharmaceutical formulations. According to a recent Fact.MR report, the market was valued at approximately USD 2.35 billion in 2022, and is expected to grow at a compound annual growth rate (CAGR) of 2.8% to reach USD 3.1 billion by 2032.
Market Drivers & Outlook
The demand for…
Ultrasound Systems Market to Surge to Nearly USD 20 Billion by 2035, Led by Adva …
The global Ultrasound Systems Market is on a strong growth trajectory, projected to rise from USD 10.8 billion in 2025 to approximately USD 19.7 billion by 2035, expanding at a CAGR of 6.2% during the forecast period. This growth is fueled by the rising demand for non-invasive diagnostic imaging, the increasing prevalence of chronic diseases, expanding healthcare infrastructure, and continuous technological innovations such as AI integration and portable imaging systems.
Key…
Surgical Staplers Market Is Forecasted To Reach USD 6.0 Billion In 2025 | Ethico …
The global Surgical Staplers Market is forecast to show strong growth over the next decade, nearly doubling in value as demand surges for efficient, reliable wound closure in advanced surgical procedures. According to the latest Fact.MR Surgical Staplers Market Size & Share Forecast Outlook 2025-2035 report, the market is expected to grow from USD 6.0 billion in 2025 to USD 12.5 billion by 2035, at a compound annual growth rate…
More Releases for Mark
MARK WAHLBERG INSTANT EARWORMS!
A jingle for Mark Wahlberg and Wahlburgers ( link below ). Host and enthusiastic Wahlburgers fan DeeDee from CRAZY JOURNEYS with DeeDee is putting out an open invitation to Mark Wahlberg himself - to join her for a fun, fresh photo retake at one of his legendary Wahlburgers locations.
Why? Because every great journey deserves a great snapshot- and the magic of an awesome burger.
DeeDee, whose content on YouTube has…
INTERVIEW: MARK JAMES SCOTT
I sat down with Brand Consultant, Designer & Creative Director Mark James Scott who is making an Impact in the Hip Hop World, in both the UK and the US. We talked working with Artists from The Game and Music Mogul Diddy, to his own Music and more..
BY SASHA JENKINS
WHAT SETS YOU APART FROM OTHERS IN YOUR FIELD?
I didn't study Design. I studied Psychology for 6 years and gained my Masters…
Impressionist landscape artist - Mark Briscoe
I am Mark Briscoe, Bristish artist well established in the field of Chinoiserie furniture decoration and restoration of antique lacquer. But the techniques for fine art easel painting in the wonderful manner of the old masters is something which I have been exploring in great earnest over the last two years as a long cherished desire. And while I cannot claim to have come anywhere near their heights, I have…
Mark de Clive-Lowe
On Thursday, May 3rd, 2012 internationally known musician Mark de Clive-Lowe (MdCL), will take the stage at The Beehive, located in Boston, MA, for a special performance of his revolutionary sound. Be there from 9:30PM to 1:00AM as MdCL plays impromptu remixes created from scratch, on the spot using drum machines, keyboards and special effects. He will start with a jazz-oriented set and crank up the intensity with his signature…
Trade Mark Act
Neoinfo Solutions Pvt. LTD is an IT based company with its main office located in Jaipur(rajasthan). Our expertise lies in the domain of Website Designing development portal development,maintenance software consulting, designing development , implimentation, training and maitenance.In the journey of achieving our combined business and social goals we have kept in mind and have always strictly followed all our data security policies to ensure that all informations of our clients…
Trade mark Act
Neoinfo Solutions Pvt. LTD is an IT based company with its main office located in Jaipur(rajasthan). Our expertise lies in the domain of Website Designing development portal development,maintenance software consulting, designing development , implimentation, training and maitenance.In the journey of achieving our combined business and social goals we have kept in mind and have always strictly followed all our data security policies to ensure that all informations of our clients…
