Lateral Flow Assays Market

Executive Summary

Lateral Flow Assays Market was valued at US $9.80 billion in 2021 and is projected to grow at 4.30% CAGR over the forecast period to reach US $12.62 billion by 2027. Lateral Flow Assays Market represented US $0.79 billion opportunity over 2019-2021 and estimated to create US $2.82 billion opportunity in 2027 over 2021.

Lateral Flow Assays from Consainsights analyses the Lateral Flow Assays Market in the Life Sciences industry over the forecast period to 2027.

Lateral Flow Assays research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Lateral Flow Assays segmentation includes Product, Application, Technique, Sample Type, End-user, Region and Geography.

Based on the Product, the Lateral Flow Assays analysis covers Kits & Reagents, Lateral Flow Readers.

In Product segment, Kits & Reagents segment has highest cagr growth of 3.81%.

Based on the Application, the Lateral Flow Assays analysis covers Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, Drug Development & Quality Testing, COVID-19 Impact on the Lateral Flow Assay Application Market.

In Application segment, Clinical Testing segment has highest cagr growth of 3.81%.

Based on the Technique, the Lateral Flow Assays analysis covers Sandwich Assays, Competitive Assays, Multiplex Detection Assays.

In Technique segment, Sandwich Assays segment has highest cagr growth of 3.81%.

Based on the Sample Type, the Lateral Flow Assays analysis covers Blood Samples, Urine Samples, Saliva Samples, Other Samples.

In Sample Type segment, Blood Samples segment has highest cagr growth of 3.81%.

Based on the End-user, the Lateral Flow Assays analysis covers Hospitals & Clinics, Diagnostic Laboratories, Home Care Settings, Pharmaceutical & Biotechnology Companies, Other End-users.

In End-user segment, Hospitals & Clinics segment has highest cagr growth of 3.81%.

Based on the Region, the Lateral Flow Assays analysis covers North America, COVID-19 Impact on the Lateral Flow Assays Market in North America, Europe, COVID-19 Impact on the Lateral Flow Assays Market in Europe, Asia-Pacific, COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific, Latin America, COVID-19 Impact on the Lateral Flow Assays Market in Latin America, Middle East & Africa, COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa.

In Region segment, North America segment has highest cagr growth of 3.81%.

Based on the region, the Lateral Flow Assays analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Product

Introduction

In 2021, Kits & Reagents segment has the highest revenue of US $6.64 billion and is expected to grow at CAGR of 3.81% by 2027 Kits & Reagents segment has highest cagr growth of 3.81%.

Kits & Reagents

Kits & Reagents segment was valued at US $6.11 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $8.55 billion by 2027. Kits & Reagents segment represented US $0.54 billion opportunity over 2019-2021 and estimated to create US $1.91 billion opportunity in 2027 over 2021.

Lateral Flow Readers

Lateral Flow Readers segment was valued at US $2.91 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $4.07 billion by 2027. Lateral Flow Readers segment represented US $0.26 billion opportunity over 2019-2021 and estimated to create US $0.91 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Clinical Testing segment has the highest revenue of US $3.89 billion and is expected to grow at CAGR of 3.81% by 2027 Clinical Testing segment has highest cagr growth of 3.81%.

Clinical Testing

Clinical Testing segment was valued at US $3.58 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $5.01 billion by 2027. Clinical Testing segment represented US $0.31 billion opportunity over 2019-2021 and estimated to create US $1.12 billion opportunity in 2027 over 2021.

Veterinary Diagnostics

Veterinary Diagnostics segment was valued at US $2.37 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $3.33 billion by 2027. Veterinary Diagnostics segment represented US $0.21 billion opportunity over 2019-2021 and estimated to create US $0.74 billion opportunity in 2027 over 2021.

Food Safety & Environment Testing

Food Safety & Environment Testing segment was valued at US $1.60 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $2.23 billion by 2027. Food Safety & Environment Testing segment represented US $0.14 billion opportunity over 2019-2021 and estimated to create US $0.50 billion opportunity in 2027 over 2021.

Drug Development & Quality Testing

Drug Development & Quality Testing segment was valued at US $1.44 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $2.02 billion by 2027. Drug Development & Quality Testing segment represented US $0.13 billion opportunity over 2019-2021 and estimated to create US $0.45 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assay Application Market

COVID-19 Impact on the Lateral Flow Assay Application Market segment was valued at US $0.02 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.03 billion by 2027. COVID-19 Impact on the Lateral Flow Assay Application Market segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.01 billion opportunity in 2027 over 2021.

Technique

Introduction

In 2021, Sandwich Assays segment has the highest revenue of US $5.11 billion and is expected to grow at CAGR of 3.81% by 2027 Sandwich Assays segment has highest cagr growth of 3.81%.

Sandwich Assays

Sandwich Assays segment was valued at US $4.69 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $6.57 billion by 2027. Sandwich Assays segment represented US $0.41 billion opportunity over 2019-2021 and estimated to create US $1.47 billion opportunity in 2027 over 2021.

Competitive Assays

Competitive Assays segment was valued at US $4.26 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $5.97 billion by 2027. Competitive Assays segment represented US $0.37 billion opportunity over 2019-2021 and estimated to create US $1.33 billion opportunity in 2027 over 2021.

Multiplex Detection Assays

Multiplex Detection Assays segment was valued at US $0.06 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.08 billion by 2027. Multiplex Detection Assays segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.02 billion opportunity in 2027 over 2021.

Sample Type

Introduction

In 2021, Blood Samples segment has the highest revenue of US $4.71 billion and is expected to grow at CAGR of 3.81% by 2027 Blood Samples segment has highest cagr growth of 3.81%.

Blood Samples

Blood Samples segment was valued at US $4.33 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $6.06 billion by 2027. Blood Samples segment represented US $0.38 billion opportunity over 2019-2021 and estimated to create US $1.35 billion opportunity in 2027 over 2021.

Urine Samples

Urine Samples segment was valued at US $2.79 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $3.91 billion by 2027. Urine Samples segment represented US $0.25 billion opportunity over 2019-2021 and estimated to create US $0.87 billion opportunity in 2027 over 2021.

Saliva Samples

Saliva Samples segment was valued at US $0.79 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $1.11 billion by 2027. Saliva Samples segment represented US $0.07 billion opportunity over 2019-2021 and estimated to create US $0.25 billion opportunity in 2027 over 2021.

Other Samples

Other Samples segment was valued at US $1.10 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $1.54 billion by 2027. Other Samples segment represented US $0.10 billion opportunity over 2019-2021 and estimated to create US $0.34 billion opportunity in 2027 over 2021.

End-user

Introduction

In 2021, Hospitals & Clinics segment has the highest revenue of US $4.29 billion and is expected to grow at CAGR of 3.81% by 2027 Hospitals & Clinics segment has highest cagr growth of 3.81%.

Hospitals & Clinics

Hospitals & Clinics segment was valued at US $3.94 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $5.52 billion by 2027. Hospitals & Clinics segment represented US $0.35 billion opportunity over 2019-2021 and estimated to create US $1.23 billion opportunity in 2027 over 2021.

Diagnostic Laboratories

Diagnostic Laboratories segment was valued at US $2.56 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $3.59 billion by 2027. Diagnostic Laboratories segment represented US $0.23 billion opportunity over 2019-2021 and estimated to create US $0.80 billion opportunity in 2027 over 2021.

Home Care Settings

Home Care Settings segment was valued at US $1.57 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $2.20 billion by 2027. Home Care Settings segment represented US $0.14 billion opportunity over 2019-2021 and estimated to create US $0.49 billion opportunity in 2027 over 2021.

Pharmaceutical & Biotechnology Companies

Pharmaceutical & Biotechnology Companies segment was valued at US $0.72 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $1.01 billion by 2027. Pharmaceutical & Biotechnology Companies segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.23 billion opportunity in 2027 over 2021.

Other End-users

Other End-users segment was valued at US $0.21 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.30 billion by 2027. Other End-users segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.07 billion opportunity in 2027 over 2021.

Region

Introduction

In 2021, North America segment has the highest revenue of US $3.73 billion and is expected to grow at CAGR of 3.81% by 2027 North America segment has highest cagr growth of 3.81%.

North America

North America segment was valued at US $3.42 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $4.80 billion by 2027. North America segment represented US $0.30 billion opportunity over 2019-2021 and estimated to create US $1.07 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assays Market in North America

COVID-19 Impact on the Lateral Flow Assays Market in North America segment was valued at US $2.13 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $2.99 billion by 2027. COVID-19 Impact on the Lateral Flow Assays Market in North America segment represented US $0.19 billion opportunity over 2019-2021 and estimated to create US $0.67 billion opportunity in 2027 over 2021.

Europe

Europe segment was valued at US $1.34 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $1.88 billion by 2027. Europe segment represented US $0.12 billion opportunity over 2019-2021 and estimated to create US $0.42 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assays Market in Europe

COVID-19 Impact on the Lateral Flow Assays Market in Europe segment was valued at US $0.85 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $1.19 billion by 2027. COVID-19 Impact on the Lateral Flow Assays Market in Europe segment represented US $0.07 billion opportunity over 2019-2021 and estimated to create US $0.27 billion opportunity in 2027 over 2021.

Asia-Pacific

Asia-Pacific segment was valued at US $0.50 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.69 billion by 2027. Asia-Pacific segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.15 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific

COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific segment was valued at US $0.30 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.42 billion by 2027. COVID-19 Impact on the Lateral Flow Assays Market in the Asia-Pacific segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.09 billion opportunity in 2027 over 2021.

Latin America

Latin America segment was valued at US $0.20 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.28 billion by 2027. Latin America segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.06 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assays Market in Latin America

COVID-19 Impact on the Lateral Flow Assays Market in Latin America segment was valued at US $0.13 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.18 billion by 2027. COVID-19 Impact on the Lateral Flow Assays Market in Latin America segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.04 billion opportunity in 2027 over 2021.

Middle East & Africa

Middle East & Africa segment was valued at US $0.09 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.12 billion by 2027. Middle East & Africa segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa

COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa segment was valued at US $0.05 billion in 2019 and is projected to grow at 3.81% CAGR over the forecast period to reach US $0.07 billion by 2027. COVID-19 Impact on the Lateral Flow Assays Market in the Middle East & Africa segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.02 billion opportunity in 2027 over 2021.