Analyzing the Future of Lateral Flow Assays Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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How has the lateral flow assays market grown in recent years?
In recent years, the market size for lateral flow assays has experienced significant growth. It is 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%. Factors contributing to this growth in the historic period include advancements in diagnostics, an increase in infectious diseases, use in pregnancy tests, the expansion of home healthcare, the evolution of immunochromatography, and the broadening reach of point-of-care testing.
How is the lateral flow assays market size expected to evolve during the forecast period?
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Which key drivers are propelling the lateral flow assays market’s growth?
The global surge in infectious diseases considerably aids the lateral flow assay market’s expansion. Variables such as the high incidences of ailments like HIV and malaria in emerging nations, coupled with an inadequate healthcare system and increasing public consciousness, are poised to hasten the incorporation of lateral flow assay testing. The recent COVID-19 outbreak underlines the importance of early disease detection, a factor set to stimulate market growth. For instance, the UK Health Security Agency, a UK executive agency, reported 368 cases of measles in 2023 in England, a near sevenfold increase from the 53 cases recorded in 2022. The West Midlands and London contributed to 44% and 33% of the cases, respectively according to data it published in August 2024. Hence, the worldwide high prevalence of infectious diseases will facilitate the growth of the lateral flow assay market.
What are the market segments in the lateral flow assays industry?
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 leading companies are shaping the growth of 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
What key trends are currently impacting the lateral flow assays market’s development?
In the lateral flow assays market, the key players consist of 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., and V-Chek Diagnostics.
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Which geographic areas are influencing the growth of the lateral flow assays 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.
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