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Global Lateral Flow Assays Market (2020 to 2025) - Evolving Applications of Lateral Flow Assays Present Opportunities

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Feb 25, 2021, 14:00 ET

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DUBLIN, Feb. 25, 2021 /PRNewswire/ -- The "Lateral Flow Assays Market by Application (Clinical Testing (Pregnancy, Infectious Diseases (Mosquito, Influenza, STI, Hepatitis, TB) Cardiac Marker Lipid Test) Veterinary, Food Safety), Product, Technique, End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global lateral flow assays market is projected to reach USD 10,230.3 million by 2025 from USD 8,205.3 million in 2020, at a CAGR of 4.5% during the forecast period.

The growing prevalence of infectious diseases globally, increasing aging population, growing demand for point-of-care and home-based lateral flow assay devices, and increasing demand in food and environment safety and veterinary diagnostics industry are the major factors driving the growth of this market. On the other hand, the reluctance among doctors and patients to change existing diagnostic procedures and the low accuracy of lateral flow assays are the key factors restraining the growth of the market in the forecast period.

Wide applications of lateral flow assays in food safety and environment testing promote the growth of this segment in the forecast period.

Based on applications, the lateral flow assays market is broadly segmented into clinical testing, veterinary diagnostics, food safety & environment testing, and drug development & quality testing. The food safety & environment testing segment is projected to register the highest growth rate in the lateral flow assays market, by an application during the forecast period. This can be attributed to lateral flow assays emerging as simple and rapid alternatives to traditional methods for the detection of foodborne pathogens and contaminants. In case of environment testing, lateral flow assays finding wide applications due to their ability to handle a wide variety of samples and perform many sample-handling tasks, such as filtration, concentration, and removal of cross-reactive elements.

In the lateral flow assay kits & reagents by technique segment, sandwich assays holds the highest market share

On the basis of technique, the lateral flow assay kits & reagents market is segmented into competitive assays, sandwich assays, and multiplex detection assays. Sandwich assays hold the highest share in the lateral flow assays market. The large share of this segment can be attributed to the better assay sensitivity and specificity associated with sandwich assays as well as its extensive application in the measurement of critical analytes (such as cardiac and hepatitis markers).

By sample type, the Other Samples segment is growing at the fastest rate in the forecast period

Based on sample type, the lateral flow assays market for clinical testing applications is segmented into blood, urine, saliva, and other samples. In this segment, Other Samples is projected to register the highest growth rate in the lateral flow assays market for clinical testing applications segment during the forecast period. The high growth rate of this segment can be attributed toan increase in R&D for lateral flow diagnostic testing and the need for more specific disease testing.

North American region holds the highest market share in the lateral flow assays market

North America is expected to account for the largest share of the global lateral flow assays market in 2019. The large share of the North American region is due to the lucrative growth opportunities the region offers due to the presence of several large hospitals and health systems, changing regulations, and the rising geriatric population in the country. A vast majority of global players are also based in the US, owing to which the country is a center for innovation in the lateral flow assays market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Lateral Flow Assays Market Overview
4.2 Regional Mix: Lateral Flow Assays Market
4.3 Lateral Flow Assays Market: Developed Vs. Developing Markets

5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Impact Analysis
5.2.1 Market Drivers
5.2.1.1 High Prevalence of Infectious Diseases Across the Globe
5.2.1.2 Rapidly Increasing Geriatric Population
5.2.1.3 Growing Usage of Home-Based Lateral Flow Assay Devices
5.2.1.4 Growing Demand for Point-Of-Care Testing
5.2.1.5 Need for Rapid Diagnostic Testing for COVID-19
5.2.2 Market Restraints
5.2.2.1 Reluctance Towards Changing Existing Diagnostic Practices
5.2.2.2 Lower Accuracy of Lateral Flow Assay Tests
5.2.3 Market Opportunities
5.2.3.1 Evolving Applications of Lateral Flow Assays
5.2.3.2 Rising Demand for Lateral Flow Assays in the Food & Beverage Industry
5.2.4 Challenges
5.2.4.1 Limited Reimbursements for Lateral Flow Assay Products
5.2.4.2 Difficulties in Procuring Quality Raw Materials for the Development of Lateral Flow Assay Tests
5.3 Porter's Five Forces Analysis
5.3.1 Threat from New Entrants
5.3.2 Threat from Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Average Selling Price Trend
5.5 Value Chain Analysis
5.6 Ecosystem Map
5.7 Technology Analysis
5.7.1 Key Technology: Lateral Flow Assays
5.7.2 Adjacent Technology: Elisa (Enzyme-Linked Immunosorbent Assays)
5.8 COVID-19 Impact on the Lateral Flow Assays Market

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Integration of Microfluidic Technology in Lateral Flow Assays
6.2.2 Demand for Quantitative Results
6.2.3 Rising Demand for Multiplexed Lateral Flow Biosensors
6.2.4 Nanoparticle-Based Lateral Flow Assays
6.3 Regulatory Analysis
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.3.1 India
6.3.3.2 China
6.3.3.3 Japan
6.4 Component Analysis for Lateral Flow Assay Kits
6.4.1 Membranes
6.4.1.1 Nitrocellulose Membranes
6.4.1.2 Other Membranes
6.4.2 Pads
6.4.2.1 Conjugate Pads
6.4.2.2 Absorbent Pads

7 Lateral Flow Assays Market, by Product
7.1 Introduction
7.2 Kits & Reagents
7.2.1 Increasing Demand for Poc Testing is Driving the Demand for Kits & Reagents in the Lateral Flow Assays Market
7.3 Lateral Flow Readers
7.3.1 Digital/Handheld Readers
7.3.1.1 Technological Advancements and High Accuracy are the Major Factors Driving the Growth of the Digital/Handheld Readers Market
7.3.2 Benchtop Readers
7.3.2.1 Lower Diagnosis Cost Per Patient is Driving the Benchtop Readers Market
7.3.3 Mobile/Smartphone Readers
7.3.3.1 Low Cost, Convenience, and User-Friendliness are Major Factors Driving the Growth of the Mobile/Smartphone Readers Market

8 Lateral Flow Assays Market, by Application
8.1 Introduction
8.2 Clinical Testing
8.2.1 Infectious Disease Testing
8.2.2 Cardiac Marker Testing
8.2.3 Pregnancy & Fertility Testing
8.2.4 Cholesterol Testing/Lipid Profiles
8.2.4.1 Growing Prevalence of Obesity and Cvd is the Key Factor Driving Market Growth
8.2.5 Drugs-Of-Abuse Testing
8.2.5.1 Technological Advancements and Growing Focus on Workplace Drug Testing are Driving Market Growth
8.2.6 Other Clinical Tests
8.3 Veterinary Diagnostics
8.3.1 Infectious Disease Outbreaks (Particularly in Large Livestock Animals) to Drive Market Growth
8.4 Food Safety & Environment Testing
8.4.1 High Sensitivity and Ease of Use are Driving the Demand for Lateral Flow Assays for Food Safety Testing
8.5 Drug Development & Quality Testing
8.5.1 Increasing Focus on Product Safety and Quality Assurance is Driving the Growth of this Market
8.6 COVID-19 Impact on the Lateral Flow Assay Application Market

9 Lateral Flow Assay Kits & Reagents Market, by Technique
9.1 Introduction
9.2 Sandwich Assays
9.2.1 Wide Applications of Sandwich Assays in Clinical Testing Contributing to the Largest Share of this Segment
9.3 Competitive Assays
9.3.1 Reduced Selectivity and Sensitivity of Competitive Assays in Relation to Sandwich Assays Could Hamper Growth
9.4 Multiplex Detection Assays
9.4.1 Increasing Adoption of Multi-Analyte Assays Among Clinicians to Drive the Growth of this Market

10 Clinical Testing Lateral Flow Assays Market, by Sample Type
10.1 Introduction
10.2 Blood Samples
10.2.1 Increasing Use of Blood Samples for Infectious Disease Testing to Drive the Growth of this Segment
10.3 Urine Samples
10.3.1 Growing Use of Urine Samples for Pregnancy Testing and Drugs-Of-Abuse Testing to Drive the Growth of this Market
10.4 Saliva Samples
10.4.1 Easy and Low-Cost Collection, Transport, and Analysis of Saliva Samples are the Key Factors Driving Market Growth
10.5 Other Samples

11 Lateral Flow Assays Market, by End-user
11.1 Introduction
11.2 Hospitals & Clinics
11.3 Diagnostic Laboratories
11.4 Home Care Settings
11.4.1 Growing Acceptance of Remote Monitoring Driving the Growth of the Lateral Flow Assays Market for Home Care
11.5 Pharmaceutical & Biotechnology Companies
11.5.1 Increasing Focus on Product Safety to Drive the Use of Lateral Flow Assays Among Pharmaceutical & Biotech Companies
11.6 Other End-users

12 Lateral Flow Assays Market, by Region
12.1 Introduction
12.2 North America
12.3 COVID-19 Impact on the Lateral Flow Assays Market in North America
12.4 Europe
12.5 COVID-19 Impact on the Lateral Flow Assays Market in Europe
12.6 Asia-Pacific
12.7 COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific
12.8 Latin America
12.9 COVID-19 Impact on the Lateral Flow Assays Market in Latin America
12.10 Middle East & Africa
12.11 COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa

13 Competitive Landscape
13.1 Introduction
13.2 Revenue Share Analysis of the Top Market Players
13.3 Product Benchmarking
13.4 Geographical Assessment of Major Players in the Lateral Flow Assays Market
13.5 Competitive Assessment of the R&D Expenditure
13.6 Competitive Situations and Trends
13.6.1 Product Launches
13.6.2 Expansions
13.6.3 Acquisitions
13.6.4 Partnerships, Agreements, and Collaborations

14 Company Evaluation Matrix and Company Profiles
14.1 Company Evaluation Matrix Definition & Methodology
14.2 Lateral Flow Assays Market Share (2019)
14.3 Competitive Leadership Mapping
14.3.1 Stars
14.3.2 Emerging Leaders
14.3.3 Pervasive Players
14.3.4 Participants
14.4 Competitive Leadership Mapping for Start-Ups (2019)
14.4.1 Progressive Companies
14.4.2 Dynamic Companies
14.4.3 Starting Blocks
14.4.4 Responsive Companies
14.5 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis and Analyst's View)*
14.5.1 Abbott Laboratories
14.5.2 F. Hoffmann-La Roche Ag
14.5.3 Danaher Corporation
14.5.4 Siemens Ag
14.5.5 Becton, Dickinson and Company
14.5.6 Biomerieux Sa
14.5.7 Bio-Rad Laboratories, Inc.
14.5.8 Thermo Fisher Scientific Inc.
14.5.9 Qiagen N.V.
14.5.10 Perkinelmer Inc.
14.5.11 Hologic Inc.
14.5.12 Quidel Corporation
14.5.13 Merck KGaA
14.5.14 ABCAM plc
14.5.15 Surmodics Ivd
14.5.16 Chembio Diagnostic Systems, Inc.
14.5.17 Orasure Technologies
14.5.18 DCN Diagnostics
14.5.19 Polysciences, Inc.
14.5.20 Abingdon Health

15 Appendix
15.1 Insights from Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Subscription Portal
15.4 Available Customizations

For more information about this report visit https://www.researchandmarkets.com/r/aptxg9

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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