Lateral Flow Assays Global Market to Reach $12.52 Billion by 2026 with a 4.78% CAGR

DUBLIN, Dec. 5, 2022 /PRNewswire/ -- The "Lateral Flow Assays Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

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The global lateral flow assays market is expected to grow from $9.75 billion in 2021 to $10.39 billion in 2022 at a compound annual growth rate (CAGR) of 6.55%. The lateral flow assays market is expected to grow to $12.52 billion in 2026 at a compound annual growth rate (CAGR) of 4.78%.

The main types of lateral flow assay are kits and reagents, and lateral flow readers. The lateral flow readers refer to instruments used to read and analyze the findings of lateral flow tests. The lateral flow assay works on sandwich assays, competitive assays, and multiplex detection assays techniques. These are used for veterinary diagnostics, clinical/point-of-care testing, drug development and quality testing, and other applications by hospitals and clinics, diagnostic laboratories, home care settings, pharmaceutical and biotechnology companies, and other end users.

North America was the largest region in the lateral flow assays market in 2021. Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.

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 raising 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 Centres for Disease Control and Prevention, the reported cases of infectious diseases rose from 2.97 million cases in 2018 to 3.10 million cases in 2019, a 4% rise in cases in one year. Therefore, the high prevalence of infectious diseases across the globe will contribute to the growth of the lateral flow assay market.

Technological advancements are the key trends gaining popularity in the lateral flow assays market. Key players operating in the lateral flow assays market are focusing on developing innovative technological testing products to strengthen their position in the market. For instance, in November 2021, IUL SA, a Spain-based laboratory equipment manufacturer introduced iPeak Europium, a new lateral flow reader equipped with iPeak technology based on machine vision illumination principles to scan fluorescence-labeled lateral flow tests. The fluorescence lateral flow tests provide high sensitivity and specificity as well as an affordable alternative to other PCR tests.

Scope

Markets Covered:

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

Key Topics Covered:

1. Executive Summary

2. Lateral Flow Assays Market Characteristics

3. Lateral Flow Assays Market Trends And Strategies

4. Impact Of COVID-19 On Lateral Flow Assays

5. Lateral Flow Assays Market Size And Growth

6. Lateral Flow Assays Market Segmentation

7. Lateral Flow Assays Market Regional And Country Analysis

8. Asia-Pacific Lateral Flow Assays Market

9. China Lateral Flow Assays Market

10. India Lateral Flow Assays Market

11. Japan Lateral Flow Assays Market

12. Australia Lateral Flow Assays Market

13. Indonesia Lateral Flow Assays Market

14. South Korea Lateral Flow Assays Market

15. Western Europe Lateral Flow Assays Market

16. UK Lateral Flow Assays Market

17. Germany Lateral Flow Assays Market

18. France Lateral Flow Assays Market

19. Eastern Europe Lateral Flow Assays Market

20. Russia Lateral Flow Assays Market

21. North America Lateral Flow Assays Market

22. USA Lateral Flow Assays Market

23. South America Lateral Flow Assays Market

24. Brazil Lateral Flow Assays Market

25. Middle East Lateral Flow Assays Market

26. Africa Lateral Flow Assays Market

27. Lateral Flow Assays Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Lateral Flow Assays Market

29. Lateral Flow Assays Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

  • Abbott Laboratories

  • Quidel Corporation

  • Roche Holding AG

  • Danaher Corporation

  • Siemens AG

For more information about this report visit https://www.researchandmarkets.com/r/6bn2xx

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