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Lateral Flow Assay Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Lateral flow assay market envisioned to value over US$ 9.7 Billion by 2029 end and register a CAGR of over 6.9% from 2019 to 2029. Lateral flow assay is used to ratify pathogens or biomarkers in animals and humans. It's mostly used in human health a
Lateral Flow Assay Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
Lateral flow assay market envisioned to value over US$ 9.7 Billion by 2029 end and
register a CAGR of over 6.9% from 2019 to 2029.
Lateral flow assay is used to ratify pathogens or biomarkers in animals and humans.
It's mostly used in human health and in medical diagnostics for laboratory use and
home testing. Increase in disposable income and rising geriatric population are
expected to fuel the growth of the market. Increase demand for home pregnancy
tests is also boosting the growth of the market.
The market is bifurcated on the basis of the product type, indications and
distribution channel. On product type, the market is segmented into Readers and LFA
Kits. Readers consist of handheld readers & bench top readers. A gradual increase in
miniaturization has enhanced the preference of handheld readers. Latest
advancements in technology are expected to create more demand for bench top
readers. Advancement of technology is expected to create more demand for mobile
readers. LFA kits consist of a test strip, dipstick, cassette & lancets. Rising demand for
test strip among consumers is expected to inflate the size of the market during the
forecast period.
Based on indications, the market is segmented into infectious diseases, pregnancy,
and drug abuse testing. Infectious diseases consist of mosquito-borne diseases,
streptococcus infections, sexually transmitted infections (STI), hepatitis, tuberculosis
(TB), gastrointestinal infections & others. Increasing prevalence regarding mosquitoborne diseases is stimulating the growth of the market.
Based on the distribution channel, the market is bifurcated into hospital pharmacies,
retail pharmacies, supermarket/hypermarket & e-commerce. Retail pharmacies are
currently dominating the market. However, e-commerce is expected to grow during
the forecast period.
However, time consuming and strict policies coupled with the inconsistency of test
results are expected to hinder the growth of the market.
Based on geographical regions, North America accounts for the largest share of the
market. Increasing prevalence of infectious diseases coupled with a rise in demand of
handheld readers remain the key factors driving the growth of the market in the
region. Europe is followed after North America. Asia-Pacific region is witnessed to
see huge growth of the market during the forecast period. Factors such as large
population and increasing government initiatives to support health care facilities are
expected to propel the growth of the market in the region.
Prominent players of the market are Hoffman-La Roche Ltd, Becton Dickinson and
Company, Alere Inc., Abbott Laboratories, Thermo Fisher Scientific, Johnson &
Johnson and Siemens AG.
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Global Lateral Flow Assay Market Segmentation:
By Product Type


o
o
o
o
Readers
o Bench top readers
o Handheld readers
LFA Kits
Test strip
Dipstick
Cassette
Lancets
By Indications

i.
ii.
iii.
iv.
v.
vi.
vii.


Infectious Diseases
Mosquito-borne Diseases
Streptococcus Infections
Sexually transmitted infections (STI)
Hepatitis
Tuberculosis (TB)
Gastrointestinal Infections
Others
Pregnancy Test
Drug of Abuse Testing
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Supermarket/Hypermarket
• E-commerce
By Region
• Europe
• North America
• APAC
• Latin America
• Rest of World
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Competitive Landscape
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study
• To provide with an exhaustive analysis on the lateral flow assay market based on
the product type, indications, distribution channel, and region
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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