The Global Lateral Flow Assay Market was valued at USD9.3 billion in 2022 and is projected to grow at a CAGR of around 3.4% during the forecast period, i.e., 2023-28.

1. Global Lateral Flow Assay Market
Research Report
Forecast (2023-2028)
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4. Market Insights
• The Global Lateral Flow Assay Market was valued at USD9.3 billion in 2022 and is
projected to grow at a CAGR of around 3.4% during the forecast period, i.e., 2023-28. The
market is witnessing significant growth due to the increasing demand for point-of-care
testing, expansion of home-based testing applications, and favorable market trends in
various regions stemming from the growing prevalence of infectious diseases.
• Rising awareness about early disease detection and the development of multiplexed
and smartphone-based LFAs are further propelling market expansion. Moreover,
technological advancements in lateral flow assays, supported by investments in
research and development, have expanded their applications and improved their
sensitivity, specificity, and multiplexing capabilities. These advancements have
increased the reliability of lateral flow assays, driving their adoption in various industries
such as healthcare, food safety, and environmental monitoring. Key players in the
industry continue to innovate and diversify their product portfolios, fostering market
competition and its overall growth.

5. Market Segmentation of
the Industry
By Product – (Kits & Reagents, Lateral Flow Readers),
By Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environment
Testing, Drug Development & Quality Testing),
By Region (North America, South America, Europe, Middle East and Africa, Asia-Pacific),

6. Competitive Benchmarking
Abbott Laboratories, PerkinElmer Inc., Merck KGaA, QIAGEN
N.V., Quidel Corporation, Hologic Inc., Thermo Fisher
Scientific Inc., bioMerieux SA, Becton, Dickinson and
Company, Bio-Rad Laboratories Inc., Abcam PLC, Danaher
Corporation, P4Q Electronics, Hoffmann-La Roche AG,
Siemens Healthineers

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