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Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2021: COVID-19 Growth and Change to 2030

  • ID: 5321444
  • Report
  • May 2021
  • Region: Global
  • The Business Research Company

FEATURED COMPANIES

  • Abbott Laboratories
  • bioMérieux
  • Danaher Corporation
  • F. Hoffmann-La Roche
  • PerkinElmer, Inc.
  • Quidel Corporation
Lateral Flow Immunoassay (LFIA) Based Rapid Test Global Market Report 2021: COVID-19 Growth and Change to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global lateral flow immunoassay (LFIA) based rapid test market.







This report focuses on the lateral flow immunoassay (LFIA) based rapid test market which is experiencing strong growth. The report gives a guide to the lateral flow immunoassay (LFIA) based rapid test market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order.

Description:

Where is the largest and fastest growing market for the lateral flow immunoassay (LFIA) based rapid test? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Lateral Flow Immunoassay (LFIA) Based Rapid Test market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider lateral flow immunoassay (LFIA) based rapid test market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The lateral flow immunoassay (LFIA) based rapid test market section of the report gives context. It compares the lateral flow immunoassay (LFIA) based rapid test market with other segments of the lateral flow immunoassay (LFIA) based rapid test market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, lateral flow immunoassay (LFIA) based rapid test indicators comparison.

Scope

Markets Covered:

1) By Technique: Competitive Assay; Sandwich Assay; Multiplex Detection Assay 2) By End User: Hospital & Clinic; Diagnostic Laboratory; Home Care; Others 3) By Application : Infectious Disease; Pregnancy & Fertility; Toxicology; Others

Companies Mentioned: Abbott Laboratories; F. Hoffmann-La Roche; Danaher Corporation; Siemens AG; Becton, Dickinson and Company

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market

What is the estimated value of the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market?

The Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market was estimated to be valued at $6.1 billion in 2021.

What is the growth rate of the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market?

The growth rate of the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market is 10.5%, with an estimated value of $9.1 billion by 2025.

What is the forecasted size of the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market?

The Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market is estimated to be worth $9.1 billion by 2025.

Who are the key companies in the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market?

Key companies in the Global Lateral Flow Immunoassay (Lfia) Based Rapid Test Market include Abbott Laboratories, F. Hoffmann, La Roche, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, bioMérieux and Rad Laboratories.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • bioMérieux
  • Danaher Corporation
  • F. Hoffmann-La Roche
  • PerkinElmer, Inc.
  • Quidel Corporation

1. Executive Summary2. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Characteristics3. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Trends and Strategies4. Impact of COVID-19 on Lateral Flow Immunoassay (LFIA) Based Rapid Test
5. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Size and Growth
5.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Segmentation
6.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Technique, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Competitive Assay
  • Sandwich Assay
  • Multiplex Detection Assay
6.2. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Hospital & Clinic
  • Diagnostic Laboratory
  • Home Care
  • Others
6.3. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Infectious Disease
  • Pregnancy & Fertility
  • Toxicology
  • Others

7. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Regional and Country Analysis
7.1. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
8.1. Asia-Pacific Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
  • Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
9. China Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
9.1. China Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
9.2. China Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
10. India Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
10.1. India Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11. Japan Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
11.1. Japan Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Australia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
12.1. Australia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13. Indonesia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
13.1. Indonesia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14. South Korea Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
14.1. South Korea Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15. Western Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
15.1. Western Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
15.2. Western Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16. UK Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
16.1. UK Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17. Germany Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
17.1. Germany Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18. France Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
18.3. France Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19. Eastern Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
19.1. Eastern Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
19.2. Eastern Europe Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20. Russia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
20.1. Russia Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21. North America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
21.1. North America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
21.2. North America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22. USA Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
22.1. USA Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
22.2. USA Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23. South America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
23.1. South America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
23.2. South America Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24. Brazil Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
24.1. Brazil Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25. Middle East Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
25.1. Middle East Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
25.2. Middle East Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26. Africa Lateral Flow Immunoassay (LFIA) Based Rapid Test Market
26.1. Africa Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Overview
26.2. Africa Lateral Flow Immunoassay (LFIA) Based Rapid Test Market, Segmentation By Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
27. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Competitive Landscape and Company Profiles
27.1. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Competitive Landscape
27.2. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Company Profiles
27.2.1. Abbott Laboratories
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. F. Hoffmann-La Roche
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Danaher Corporation
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Siemens AG
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Becton, Dickinson and Company
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers and Acquisitions in the Lateral Flow Immunoassay (LFIA) Based Rapid Test Market29. Lateral Flow Immunoassay (LFIA) Based Rapid Test Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • bioMérieux
  • Danaher Corporation
  • F. Hoffmann-La Roche
  • PerkinElmer, Inc.
  • Quidel Corporation
Major players in the lateral flow immunoassay (LFIA) based rapid test market are Abbott Laboratories, F. Hoffmann-La Roche, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, bioMérieux, Bio-Rad Laboratories, Thermo Fisher Scientific, QIAGEN NV, and Hologic Inc.

The global lateral flow immunoassay (lfia) based rapid test market is expected to grow from $5.768 billion in 2020 to $6.136 billion in 2021 at a compound annual growth rate (CAGR) of 6.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.136 billion in 2025 at a CAGR of 10%.

The lateral flow immunoassay (LFIA) based rapid test market consists of sales of devices and equipment used to run lateral flow immunoassays (LFIA) based rapid test and related services by companies that develop lateral flow immunoassays (LFIA) based rapid test equipment. These are testing devices used to assess the existence of a target, such as pathogens or biomarkers, in samples obtained from the human body or animals, or pollutants in water sources, food or animal feed.

Companies are collaborating to launch new products. In May 2020, Lateral Flow Diagnostic Company Mologic Ltd., which has teamed up with Biosure Ltd., the developer of the only CE approved HIV home testing kit, to develop a COVID-19 antibody self-test. The companies combine Mologic's validated IgG lateral flow test strip with Biosure's test kit. In July 2020, MP Biomedicals Asia Pacific Pte Ltd collaborated with a Singapore company A*STAR to create the ASSURE® SARS-CoV-2 IgG / IgM rapid antibody test kit to detect IgG and IgM antibodies in a person infected with SARS-CoV-2. The kit delivers precise results in very less time as less as 15 minutes and uses the lateral flow method.

The lateral flow immunoassay (LFIA) based rapid test market covered in this report is segmented by technique into competitive assay; sandwich assay; multiplex detection assay. It is also segmented by end user into hospital and clinic; diagnostic laboratory; home care; others, and by application into infectious disease; pregnancy and fertility; toxicology; others.

In April 2020, True Diagnostics, a leading US-based Point of Care (POC) company, partnered with Veravas and Infectolab Americas to create and distribute a fast, point-of-care immunoassay for SARS-CoV-2, the VeraTest SARS-CoV-2 IgA / IgG Fast Test will be developed to detect immunoglobulin A and immunoglobulin G antibodies to SARS-CoV-2 in the blood within 15 minutes. The test combines True Diagnostics, TrueDx lateral flow immunoassay technology with Veravas, VeraPrep clean and VeraPrep capture technologies designed to remove cross-reaction antibodies and ensure the detection of only SARS-CoV-2-specific antibodies. Veravas is an emerging US-based diagnostic company. Infectolab Americas is a US-based laboratory specialized in the lab testing for tick-borne disease.

The demand for point-of-care testing under home care settings is expected to drive the Lateral Flow Immunoassay (LFIA) Based Rapid Test market. Point-of-care (POCT) testing is essential for rapid on-site diagnosis and treatment. The most important features for current POCT diagnostic systems are a quick analysis time with a test-to-answer format. Lateral flow immunoassays (LFIA) are widely used as POCTs due to their speed and precision, simplicity and low cost. For instance, the recent outbreak of coronavirus disease (COVID-19) has increased the significance of these devices to rapid screening and surveillance. Acro Biotech COVID-19 Rapid POC CE-IVD is a lateral flow immunoassay that quantifiably assesses the existence of patient-generated IgG and IgM antibodies to SARS-CoV-2, the causative agent of novel coronaviral disease COVID-19. These antibodies may be detected in whole blood, serum or plasma samples in the test cassette. OZO has developed three different variations of its products using the Latex Enhanced Lateral Flow Immunoassays (LFIAs) method for testing COVID-19. Therefore, the need for point-of-care testing under home care settings is expected to drive the Lateral Flow Immunoassay (LFIA) Based Rapid Test market.

Low sensitivity of Lateral Flow Immunoassay (LFIA) Based Rapid Test is expected to limit the market. The sensitivity of the test is mainly the ability of the test to correctly identify those with the disease, which is low for Lateral Flow Immunoassay (LFIA) Based Rapid Test compared to other methods that may, in some cases, require a re-test for confirmation. according to a study conducted by researchers, including those from the Harvard medical school in the USA and also the University of British Columbia, Canada. The medical databases and preprint servers were searched from January 1 to April 30 2020, for studies measuring the sensitivity and specificity of the Covid-19 antibody test compared to the control test. It had been found that pooled sensitivities were consistently lower for the lateral flow immunoassay (LFIA) test compared to other test methods. The low level of sensitivity is anticipated to restrain the market growth for Lateral Flow Immunoassay (LFIA) based rapid test.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Abbott Laboratories
  • F. Hoffmann-La Roche
  • Danaher Corporation
  • Siemens AG
  • Becton
  • Dickinson and Company
  • bioMérieux
  • Bio-Rad Laboratories
  • Thermo Fisher Scientific
  • QIAGEN NV
  • Hologic Inc.
  • PerkinElmer, Inc.
  • Quidel Corporation
Note: Product cover images may vary from those shown

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