Key Insights into the Lateral Flow Assays Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theLateral Flow Assays Market?
The global proliferation of infectious diseases significantly drives the expansion of the lateral flow assay market. The frequent occurrence of diseases such as HIV and malaria in countries with developing healthcare systems, coupled with rising public awareness, is anticipated to fast-track the utilization of lateral flow assay testing. The recent COVID-19 pandemic underlined the necessity for early disease detection, suggesting an optimistic market growth. For example, the UK Health Security Agency, a leading executive agency based in England, reported 368 measles cases in 2023, a sharp rise from the 53 cases reported in 2022. The West Midlands and London were responsible for 44% and 33% of the cases, respectively, as per the data published in August 2024. Thus, the widespread presence of infectious diseases globally is anticipated to boost the lateral flow assay market’s growth.
Get Your Free Sample Report Now – Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6359&type=smp
How Has the Lateral Flow Assays Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market for lateral flow assays has been flourishing over recent years, with its size set to expand from $11.69 billion in 2024 to $12.39 billion in 2025. This represents a compound annual growth rate (CAGR) of 6.0%. The impressive advancement in diagnostics, the surge in infectious diseases, use in pregnancy tests, the expansion of home healthcare, the progression of immunochromatography, and the proliferation of point-of-care testing have all contributed to this remarkable growth during the historic period.
The market size for lateral flow assays is likely to experience robust expansion in the incoming years, projected to hit $17.88 billion in 2029 with a compound annual growth rate (CAGR) of 9.6%. A variety of factors contribute to this growth in the forecasted period, such as the surge in disease detection applications, usage in home testing kits, the broadening of veterinary diagnostics, the emergence of multiplex assays, and increased testing in food and the environment. Key trends for the forecast period are personalized medicine and home testing, improvements in manufacturing methods, testing for environmental and food safety, a focus on cost-efficiency, and the utilization in drug and biomarker detection.
You can Directly Purchase the Report Here:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6359
What Are the Latest Innovations Influencing theLateral Flow Assays Market?
In the lateral flow assays market, technological innovation is a trending growth driver. To solidify their market standing, major market players are making strides in the creation of technologically advanced testing products. For example, Abacus Diagnostica, originating in Finland and renowned for its medical devices, introduced the GenomEra SARS-CoV-2 2.0 Assay Kit, a second-generation COVID-19 test, in February 2022. This assay enables swift qualitative identification of SARS-CoV-2 in respiratory specimens through the application of a multiplex reverse transcriptase polymerase chain reaction (RT-PCR) approach.
Who Are the Major Industry Players Accelerating Growth in theLateral 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
Order Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/lateral-flow-assays-global-market-report
Which Primary Segments of the Lateral Flow Assays Market Are Driving Growth and Industry Transformations?
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
Gain Exclusive Market Insights—Customize Your Research Report Today for Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=6359&type=smp
Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theLateral Flow Assays Market?# Market?
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.
Browse Through More Reports Similar to the Global Lateral Flow Assays Market 2025, By The Business Research Company:
Cutting Equipment, Accessories & Consumables Global Market Report 2024
Machinery Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/machinery-global-market-report
Laser Processing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/laser-processing-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
