Major Growth Driver Identified in 2025 Lateral Flow Assays Market: Surge In Infectious Diseases Drives Expansion Of Lateral Flow Assay Market

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What Will the Lateral Flow Assays Industry Market Size Be by 2025?
The market size of lateral flow assays has experienced significant growth in the past few years. It's projected to increase from $11.69 billion in 2024 to $12.39 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. This growth during the historic period was driven by advancements in diagnostics, an increase in infectious diseases, the use in pregnancy testing, the progression of home healthcare, the evolution of immunochromatography, as well as the broadening of point-of-care testing.

What's the Long-Term Growth Forecast for the Lateral Flow Assays Market Size Through 2029?
In the coming years, robust growth is anticipated in the lateral flow assays market, with projections suggesting a size of $17.88 billion by 2029. This equates to a compound annual growth rate (CAGR) of 9.6%. Factors contributing to this growth during the forecast period include increased use in disease detection, the popularity of home testing kits, advancements in veterinary diagnostics, the development of multiplex assays, and an uptick in food and environmental testing. Further trends bolstering this forward movement are the rise of personalized medicine and an emphasis on home testing, manufacturing advancements, a focus on food safety and environmental testing, cost-effectiveness, and applications in drug and biomarker detection.

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What Are the Key Growth Drivers Fueling the Lateral Flow Assays Market Expansion?
The global prevalence of infectious diseases plays a significant role in propelling the lateral flow assay market's growth. In nations that are still developing, the high occurrence of ailments such as HIV and malaria, coupled with a lacking healthcare system and increasing public consciousness, are foreseen to expedite the adoption of lateral flow assay testing. The recent COVID-19 crisis underscores the importance of early disease detection, which is expected to drive market growth. As an illustration, in August 2024, the UK Health Security Agency, a domestic regulatory organization, disclosed that there were 368 incidences of measles in England in 2023, an almost seven times surge compared to the 53 cases documented in 2022. The West Midlands and London were responsible for 44% and 33% of these cases, correspondingly. As such, the worldwide prevalence of infectious diseases will steer the growth of the lateral flow assay market.

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What Are the Key Trends Driving Lateral Flow Assays Market Growth?
The lateral flow assays market is witnessing a surge in popularity due to significant technological advancements. This trend is prompting key market players to innovate and develop technologically sophisticated testing products to consolidate their market position. An example of this is Abacus Diagnostica, a medical devices manufacturer from Finland, which launched its second generation COVID-19 test, GenomEra SARS-CoV-2 2.0 Assay Kit, in February 2022. The assay aims for quick qualitative detection of SARS-CoV-2 in respiratory specimens using a multiplex reverse transcriptase polymerase chain reaction (RT-PCR) technique.

How Is the Lateral Flow Assays Market Segmented?
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 Or 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

Subsegments:
1) By Kits And Reagents: Rapid Test Kits, Diagnostic Kits, Control Reagents, Sample Collection And Preparation Reagents
2) By Lateral Flow Readers: Portable Lateral Flow Readers, Benchtop Lateral Flow Readers, Smartphone-Based Lateral Flow Readers, Automated Lateral Flow Readers

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Which Companies Are Leading the Charge in Lateral Flow Assays Market Innovation?
Major companies operating in the lateral flow assays market include 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., OraSure Technologies Inc., Meridian Bioscience Inc., DiaSorin S.p.A., Molbio Diagnostics, Trinity Biotech, Chembio Diagnostics 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., V-Chek Diagnostics

Which Regions Are Leading the Global Lateral Flow Assays Market in Revenue?
North America was the largest region in the lateral flow assays market in 2024. Asia-Pacific is expected to be the fastest-growing region in the lateral flow assays market share during the forecast period. The regions covered in the lateral flow assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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