Lateral Flow Assays Industry Outlook 2025-2029: Market Set to Cross $17.62 Billion Milestone

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How Large Will the Lateral Flow Assays Market Size By 2025?
The market size for lateral flow assays has been experiencing substantial growth recently. Its size is projected to increase from $11.69 billion in 2024 to $12.29 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.2%. Factors contributing to the growth during the historical period include advancements in diagnostics, a surge in infectious diseases, use in pregnancy tests, growth in at-home healthcare, developments in immunochromatography, and the expansion of point-of-care testing.

How Big Is the Lateral Flow Assays Market Size Expected to Grow by 2029?
The market size of lateral flow assays is predicted to witness substantial growth in the upcoming years, elevating to $17.62 billion in 2029, following a compound annual growth rate (CAGR) of 9.4%. This growth during the projected period can be ascribed to the broadening use in disease identification, incorporation in home testing kits, growth in veterinary diagnosis, the evolution of multiplex assays and an increase in food and environmental testing. Notable trends during this period encompass personalised medicine and home testing, advancements in production techniques, environmental and food safety tests, a concentration on cost-effectiveness, and application in the detection of drugs and biomarkers.

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Which Key Market Drivers Powering Lateral Flow Assays Market Expansion and Growth?
The lateral flow assay market's expansion is significantly powered by the widespread presence of infectious diseases worldwide. In countries still undergoing development, the rampant occurrence of diseases like HIV and malaria, combined with a deficient healthcare structure and increasing public consciousness, is anticipated to boost the utilization of lateral flow assay tests. The recent COVID-19 outbreak underlined the importance of early disease detection, a factor expected to fuel the market's growth. To illustrate, the UK Health Security Agency, a UK-based organization, reported a sharp increase in measles cases in August 2024, from 53 cases in 2022 to a staggering 368 in 2023. The majority of cases were found in the West Midlands and London, accounting for 44% and 33% respectively. Hence, the global high occurrence of infectious diseases will play a crucial role in enhancing the lateral flow assay market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Lateral Flow Assays Market?
Technological innovation is the driving trend in the lateral flow assays market, with main market players focusing on the development of technologically advanced testing products to consolidate their market positions. For instance, in February 2022, Abacus Diagnostica, a medical device manufacturer based in Finland, unveiled its second-generation COVID-19 test, the GenomEra SARS-CoV-2 2.0 Assay Kit. This product is intended for quick qualitative detection of SARS-CoV-2 in respiratory samples utilizing a multiplex reverse transcriptase polymerase chain reaction (RT-PCR) methodology.

What Are the Emerging Segments in the Lateral Flow Assays Market?
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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Who Are the Global Leaders in the Lateral Flow Assays Market?
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 are the Top Profitable Regional Markets for the Lateral Flow Assays Industry?
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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