Home > > Global Lateral Flow Assays Market Report
The Lateral Flow Assays market was valued at $9,576.0 Million in 2022, and is projected to reach $25,488.2 Million by 2032 growing at a CAGR of 10.36% from 2023 to 2032.Lateral flow assays (LFAs) are rapid diagnostic tests that are used to detect the presence of a specific analyte in a sample, such as a disease marker or drug of abuse. Some common applications of LFAs include pregnancy tests, ovulation tests, and drug tests. The global lateral flow assays market is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2025, driven by factors such as the increasing prevalence of infectious diseases, the growing demand for rapid and point-of-care (POC) testing, and the increasing adoption of LFAs in veterinary care. Some of the top companies in the lateral flow assays market include: Roche: Roche is a global leader in the development and manufacturing of LFAs for a wide range of applications, including infectious diseases, cancer, and cardiovascular disease. In 2020, the company launched a new LFA platform called cobas LFA that allows for the rapid detection of COVID-19. Abbott: Abbott is a major player in the LFA market with a wide range of products for various applications, including infectious diseases, cardiovascular disease, and diabetes. In 2020, the company launched a new LFA platform called ID Now that allows for the rapid detection of COVID-19. Bio-Rad: Bio-Rad is a leading provider of LFAs for the detection of infectious diseases, cancer, and other conditions. In 2020, the company launched a new LFA platform called SARS-CoV-2 Antigen Rapid Qualitative Test that allows for the rapid detection of COVID-19. Quidel: Quidel is a leading provider of LFAs for the detection of infectious diseases, reproductive health, and other conditions. In 2020, the company launched a new LFA platform called Sofia 2 that allows for the rapid detection of COVID-19. Becton, Dickinson and Company (BD): BD is a major player in the LFA market with a wide range of products for various applications, including infectious diseases, cancer, and diabetes. In 2020, the company launched a new LFA platform called Veritor Plus that allows for the rapid detection of COVID-19. Overall, the lateral flow assays market is expected to see strong growth in the coming years, driven by the increasing demand for rapid and point-of-care testing, the growing prevalence of infectious diseases, and the increasing adoption of LFAs in veterinary care.