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What is the projected market size of the lateral flow assays industry, and what is its expected CAGR?
The lateral flow assays market size has grown strongly in recent years. It will grow from $11.69 billion in 2024 to $12.39 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to diagnostic advancements, rise in infectious diseases, application in pregnancy testing, growth in home healthcare, development of immunochromatography, point-of-care testing expansion.
The lateral flow assays market size is expected to see strong growth in the next few years. It will grow to $17.88 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to expanding applications in disease detection, adoption in home testing kits, expansion in veterinary diagnostics, development of multiplex assays, rise in food and environmental testing. Major trends in the forecast period include personalized medicine and home testing, advancements in manufacturing techniques, environmental and food safety testing, focus on cost-effectiveness, application in drug and biomarker detection.
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What external factors are influencing the lateral flow assays market’s growth momentum?
The high prevalence of infectious diseases across the globe significantly contributes to the growth of the lateral flow assay market. In developing countries, the high frequency of infectious diseases such as HIV and malaria, combined with the inadequate healthcare system and rising public awareness, is projected to accelerate the adoption of lateral flow assay testing. The recent COVID-19 pandemic has highlighted the need for early illness detection capabilities, projected to fuel market expansion. For instance, in August 2024, according to the data published by the UK Health Security Agency, a UK-based executive agency, in England, the UK Health Security Agency (UKHSA) reported 368 measles cases in 2023, marking a nearly sevenfold increase from the 53 cases reported in 2022, with the West Midlands and London accounting for 44% and 33% of the cases, respectively. Therefore, the high prevalence of infectious diseases across the globe will contribute to the growth of the lateral flow assay market.
What are the major market segments driving the growth of the lateral flow assays industry?
The lateral flow assays market covered in this report is segmented –
1) By Type: Kits And Reagents, Lateral Flow Readers
2) By Technique: Sandwich Assays, Competitive Assays, Multiplex Detection Assays
3) By Application: Veterinary Diagnostics, Clinical Or Point-Of-Care Testing, Drug Development And Quality Testing, Other Applications
4) By End-User: Hospitals And Clinics, Diagnostic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies, Other End Users
Subsegments:
1) By Kits And Reagents: Rapid Test Kits, Diagnostic Kits, Control Reagents, Sample Collection And Preparation Reagents
2) By Lateral Flow Readers: Portable Lateral Flow Readers, Benchtop Lateral Flow Readers, Smartphone-Based Lateral Flow Readers, Automated Lateral Flow Readers
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Which trends are expected to dominate the lateral flow assays market landscape in the coming years?
Technological advancements are the key trends gaining popularity in the lateral flow assays market. Key players operating in the lateral flow assay market are focusing on developing innovative technological testing products to strengthen their position in the market. For instance, in February 2022, Abacus Diagnostica, a Finland-based manufacturer of medical devices, launched second generation COVID-19 test, the GenomEra SARS-CoV-2 2.0 Assay Kit. This assay is designed for the rapid qualitative detection of SARS-CoV-2 in respiratory specimens using a multiplex reverse transcriptase polymerase chain reaction (RT-PCR) method.
Who are the key market players contributing to the growth of the lateral flow assays industry?
Major companies operating in the lateral flow assays market include Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Merck KGaA, Hologic Inc., BioMérieux SA, PerkinElmer Inc., Quidel Corporation, Bio-Rad Laboratories Inc., Roche Holding AG, QIAGEN N.V., OraSure Technologies Inc., Meridian Bioscience Inc., DiaSorin S.p.A., Molbio Diagnostics, Trinity Biotech, Chembio Diagnostics Inc., Coris BioConcept, HYCOR Biomedical, Diagnostic BioSystems GmbH, Express Diagnostics Ltd., Fujirebio Diagnostics Inc., Innova Diagnostics Inc., Leadtec Diagnostics Inc., S&D Diagnostics Inc., Standard Diagnostics Inc., V-Chek Diagnostics
Which regions are leading the growth of the lateral flow assays market globally?
North America was the largest region in the lateral flow assays market in 2024. Asia-Pacific is expected to be the fastest-growing region in the lateral flow assays market share during the forecast period. The regions covered in the lateral flow assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can Companies Use The Lateral Flow Assays Market Report to Drive Business Results?
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:
• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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