Lateral Flow Assay Market, by Product Type (Kits and Reagents, and Lateral Flow Readers), By Technique (Competitive Assay, Multiplex Detection Assay and Sandwich Assay), By Application (Veterinary Diagnostic, Drug Development and Quality Testing, Clinical

Lateral Flow Assay Market, by Product Type (Kits and Reagents, and Lateral Flow Readers), By Technique (Competitive Assay, Multiplex Detection Assay and Sandwich Assay), By Application (Veterinary Diagnostic, Drug Development and Quality Testing, Clinical Testing and Food Safety and Environmental Testing), by End User (Hospitals, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies and Home Care Settings), and by Geography - Global Industry Insights, and Forecast, 2022 - 2028

Report Description
Lateral flow assay (LFA) offers simple, low-cost, rapid, point-of-care detection and quantification of analytes in complex mixtures, within 5-30 min. Low development costs and ease of operation of LFAs are results into expansion of its application in biomedicine, agriculture, veterinary, food safety and drug development. High prevalence of infectious disease and increasing adoption of lateral flow assay device in hospitals, physician’s clinics and clinical laboratories for the qualitative and quantitative detection of specific antigen and antibodies is expected to drive growth of lateral flow assay market over the forecast period. For instance, according to the World health Organization (WHO) January 2018 data findings, tuberculosis(TB) was reported to be one of the top 10 causes of death, in 2021 worldwide. Furthermore, in 2021, an estimated 1 million children were suffer from tuberculosis and 2, 50,000 children died of TB (including children with HIV associated TB).
Market Dynamics
The global lateral flow assay market is projected to witness significant growth over the forecast period, owing to growing adoption of lateral flow assay in various applications including clinical diagnostics, drug development, quality testing, veterinary diagnostic, food and environmental testing, micronutrient monitoring, diagnosing invasive pulmonary aspergillosis, qualitative and quantitative detection of specific antigens and antibodies, and gene amplification. For instance, according to the American Pharmaceutical Association (APhA) Academy of Student Pharmacists: Resolutions Committee-2015 report, 8,856 community pharmacies have a Clinical Laboratory Improvement Amendments (CLIA) Certificate of Waiver, which enables pharmacists to perform POC tests such as glucose measurement and other POC testing. Moreover, increasing adaptation of point-of-care testing in clinical diagnosis and integration of POC testing in lateral flow assay tests are expected to drive growth of the lateral flow assay market over the forecasted period. However, variance or inconsistency results by lateral flow assay would lead to lower adoption of the technology, which in turn would hinder the growth of lateral flow assay market.
Key features of the study:
This report provides in-depth analysis of the lateral flow assay market and its market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global lateral flow assay market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies
Key companies covered as a part of this study include Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Siemens Healthineers, Inc., Qiagen N.V., Becton, Dickinson and Company, Diagnostic Consulting Network, Inc., Tetracore, Inc., Humasis Co. Ltd., and F. Hoffmann-La Roche AG.
Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, governmental initiatives, technological up-gradation, market expansion and marketing tactics.
The global lateral flow assay market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors and suppliers for lateral flow assay kits and reagents, research and consulting firms, new entrants and financial analysts.

Detailed Segmentation:
Global Lateral Flow Assay Market, By Product Type:
Kits and Reagents
Lateral Flow Readers
Global Lateral Flow Assay Market, By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
Global Lateral Flow Assay Market, By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
Global Lateral Flow Assay Market, By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Global Lateral Flow Assay Market, By Region:
North America
By Country
U.S.
Canada
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Europe
By Country
U.K.
Germany
Italy
Spain
France
Russia
Rest of Europe
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Asia-Pacific
By Country:
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Middle East
By Country:
GCC
Israel
Rest of Middle East
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Africa
By Country:
North Africa
Central Africa
South Africa
By Product Type:
Kits and Reagents
Lateral Flow Readers
By Technique:
Competitive Assay
Multiplex Detection Assay
Sandwich Assay
By Application:
Veterinary Diagnostics
Drug Development and Quality Testing
Clinical Testing
Food Safety and Environmental Testing
By End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Home Care Settings
Company Profiles
Bio-Rad Laboratories, Inc. *
Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies
Thermo Fisher Scientific Inc.
Siemens Healthineers, Inc.
Qiagen N.V.
Becton, Dickinson and Company
Diagnostic Consulting Network, Inc.
Tetracore, Inc.
Humasis Co. Ltd.
F. Hoffmann-La Roche AG
“*” marked represents similar segmentation in other categories in the respective section.