Lateral flow assay market

Lateral Flow Assay Market, by Product Type (Kits and Reagents, and Lateral Flow Readers), By Technique (Competitive Assay, Multiplex Detection Assay and Sandwich Assay), By Application (Veterinary Diagnostic, Drug Development and Quality Testing, Clinical Testing and Food Safety and Environmental Testing), by End User (Hospitals, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies and Home Care Settings), and by Geography - Global Industry Insights, and Forecast to 2025

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Apr 2018
CMI1147
170 Pages
Excel & Pdf
Medical Devices

Summary

Lateral Flow Assay Market – Insights

In the field of on-site diagnostics, lateral flow assay (LFA) are well-established commercial product due to their ability of providing precise, fast, and low-cost result such as home-based pregnancy tests. Lateral flow assay technology are rapidly evolved over the years and routinely used for point-of-care and companion diagnostic applications. Moreover, technological advances to transform the assays from simple qualitative tests into complex multi-analyte quantitative assay are driving growth of the lateral flow assay market. Lateral flow assay market is projected to witness growth over the forecast period, owing to increasing application in medical diagnostics, high prevalence of infectious disease, increasing demand for point-of-care testing, and high adoption of home-based lateral flow assay test. The global lateral flow assay market was valued at US$ 5.6 billion in 2017 and is expected to witness a CAGR of 7.5% over the forecast period (2017 – 2025).

Global Lateral Flow Assay Market Share (%), By Product Type, 2017 & 2025

Source: Coherent Market Insights Analysis (2018)

Increasing adoption of home-based lateral flow assay test are driving growth of the lateral flow assay market

Increasing prevalence of lifestyle and infectious diseases rising the demand for point-of-care testing under home care settings which has the ability to provide result in real-time (5-15 minutes), and ease of use. The home pregnancy test is well recognized example of lateral flow assay technology, which detects the presence of a hormone produced during pregnancy and displays a binary result. Adoption of home-based lateral flow assay devices is increasing, owing to various features such as portable device, low production cost, immediate results, and overall ease of use. Lateral flow assay based point-of-care testing improves the quality of care, owing to various advantages offered by them such as cost savings, reduced doctor, visits and laboratory overhead costs. However, variance in lateral flow assay test results may hinder growth of the lateral flow assay market.

Lateral flow assay tests are designed to provide cheap, rapid, and easy tests. However, lateral flow assay tests are only suitable for primary screening of point-of-care. Moreover, they have several disadvantages such as inaccurate sample volume which reduces the precision of result, restricting the total volume in the test and gives a limit of sensitivity, and the analysis time is dependent on the nature of sample (if the sample is viscous, then the time for analysis increases).

Key players in the in-vitro clinical diagnostic device manufacturing are engaged in development of new point-of-care tests, which will provides the less variance and more accurate test results. For instance, in March 2018, U.S. Food and Drug Administration (FDA), approved immunoassay fecal occult blood test of Alfa Scientific Designs, Inc. for the diagnosis of precancerous polyps and colorectal cancer. This new test uses one drop of sample solution and provides result in less than one minute. It is five times quicker than the standard lateral flow assay test. For instance, in October 2014, Agdia, Inc., announced a new lateral flow test strip. The test is developed for examining seed quality by determining the presence or absence of Vip3A protein in transgenic corn. This increase in the demand for point-of-care testing devices and technological advancements in the lateral flow assay devices to introduce cost-effective, rapid, and affordable devices in market for early detection of disease are expected to drive growth of the lateral flow assay market over the forecast period.

High prevalence of infectious disease is expected to drive growth of the lateral flow assay market

High prevalence and increasing incidence of infectious disease are the major factors driving growth of the lateral flow assay market. According to the study published in journal Lancet Infectious Disease, in 2017, around 54,984,661 cases of 45 infectious diseases were reported with average yearly incidence 417·98 per 100?000 in china between January 2004 and December 2013. Furthermore, Hepatitis B and tuberculosis has shown high incidence rate of 81.57 and 80.33 per 100,000, respectively. Moreover, World Health Organization (WHO) estimated 212 million malaria cases worldwide in 2015, with highest incidence in African regions.

Key players operating in market include Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Siemens Healthineers, Inc., Qiagen N.V., Becton, Dickinson and Company, Diagnostic Consulting Network, Inc., Tetracore, Inc., Humasis Co. Ltd., and F. Hoffmann-La Roche AG.

Table of Content

Table of Contents

Research Objective and Assumption

Research Objectives
Assumptions
Abbreviations

Market Overview

Report Description

Market Definition and Scope

Executive Summary

Market Snippet, By Product Type
Market Snippet, By Technique
Market Snippet, By Application
Market Snippet, By End User
Market Snippet, By Region

Coherent Opportunity Map (COM)

Market Dynamics, Regulations, and Trends Analysis

Market Dynamics

Drivers
Restraints
Market Opportunities

Impact Analysis
Market Trends
Epidemiology
Product Launches
PEST Analysis

Global Lateral Flow Assay Market, By Product Type, 2015 – 2025, (US$ Million)

Introduction

Market Share Analysis, 2017 and 2025 (%)
Y-o-Y Growth Analysis, 2016 – 2025
Segment Trends

Kits and Reagents

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Lateral Flow Readers

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Global Lateral Flow Assay Market, By Technique, 2015 – 2025, (US$ Million)

Introduction

Market Share Analysis, 2017 and 2025 (%)
Y-o-Y Growth Analysis, 2016 – 2025
Segment Trends

Competitive Assay

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Multiplex Detection Assay

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Sandwich Assay

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Global Lateral Flow Assay Market, By Application, 2015 – 2025, (US$ Million)

Introduction

Market Share Analysis, 2017 and 2025 (%)
Y-o-Y Growth Analysis, 2016 – 2025
Segment Trends

Veterinary Diagnostics

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Drug Development and Quality Testing

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Clinical Testing

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Food Safety and Environmental Testing

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Global Lateral Flow Assay Market, By End User, 2015 – 2025, (US$ Million)

Introduction

Market Share Analysis, 2017 and 2025 (%)
Y-o-Y Growth Analysis, 2016 – 2025
Segment Trends

Hospitals

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Diagnostic Laboratories

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Pharmaceutical and Biotechnology Companies

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Home Care Settings

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2015 – 2025, (US$ Million)

Global Lateral Flow Assay Market, By Region, 2015 – 2025, (US$ Million)

Introduction

Market Share Analysis, By Region, 2017 and 2025 (%)
Y-o-Y Growth Analysis, By Region, 2016 – 2025

North America

Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)
- U.S.
- Canada

Europe
- Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
- Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
- Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
- Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
- Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific

Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)

China
Japan
India
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)

Brazil
Mexico
Argentina
Rest of Latin America

Africa

Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)

Northern Africa
Central Africa
South Africa

Middle East

Market Size and Forecast, By Product Type, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Technique, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Application, 2015 – 2025, (US$ Million)
Market Size and Forecast, By End User, 2015 – 2025, (US$ Million)
Market Size and Forecast, By Country, 2015 - 2025, (US$ Million)

GCC Countries
Israel
Rest of Middle East

Competitive Landscape

Heat Map Analysis
Company Profiles

Bio-Rad Laboratories, Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Thermo Fisher Scientific Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Siemens Healthineers, Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Qiagen N.V.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Becton, Dickinson and Company

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Diagnostic Consulting Network, Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Tetracore, Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Humasis Co. Ltd.

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

F. Hoffmann-La Roche AG

Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies

Section

References
Research Methodology
About Us and Sales Contact

*Browse 47 market data tables and 45 figures on "Lateral Flow Assay Market - Global forecast to 2025”.

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- Frequently Asked Questions -

What are the growth estimates for lateral flow assay market till 2025?

The global lateral flow assay market is estimated to surpass US$ 10.1 Billion by 2025.

Which are the prominent lateral flow assay market players across the globe?

Major players operating in the global lateral flow assay market include Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Siemens Healthineers, Inc., Qiagen N.V., Becton, Dickinson and Company, Diagnostic Consulting Network, Inc., Tetracore, Inc., Humasis Co. Ltd., and F. Hoffmann-La Roche AG.

What are the key factors hampering growth of the lateral flow assay market?

Variance in lateral flow assay test results is one of the major factors that is expected to hamper growth of the market over the forecast period

What are the key factors driving growth of the lateral flow assay market?

Increasing adoption of home-based lateral flow assay test is one of the major factors that is expected to propel growth of the market over the forecast period

What is the Compound Annual Growth Rate (CAGR) of the lateral flow assay market for next 8 years?

The global lateral flow assay market is estimated to exhibit a CAGR of 7.5% over the forecast period

Which segment based on end user, accounted for the highest demand in the lateral flow assay market?

Among end user, diagnostic laboratories segmentaccounts for largest market share, owing to various point-of care application, potential cost reduction, and ability to offer qualitative result within short duration.