North America Lateral Flow Assay Market

North America Lateral Flow Assay Market Size (2024 to 2029)

As per the research report, the North America Lateral Flow Assay Market size has been calculated at USD 3.08 billion in 2024. It is further expected to grow and be worth USD 4.42 billion by 2029, showcasing a CAGR of 7.54% between 2024 to 2029.

Lateral flow assays (LFAs) are the technology behind low-cost, simple, rapid, and portable detection devices popular in biomedicine, agriculture, food, and environmental sciences. Lately, these types of assays have attracted considerable attention due to their potential to provide an immediate diagnosis to patients. The variety and interpretation of these results and parameters are used for the assessment of the assay.

The North American lateral flow assay market is projected to be fueled by the proliferation of infectious and contagious diseases and an increase in the utilization of rapid testing in-home care settings. 

Other factors such as the aging population, increased use of lateral flow assay in clinical laboratory practice, an increase in chronic conditions, and technical advancements are expected to drive the market growth during the forecast period.

However, the increase in demand for point-of-care testing is expected during the forecast period in the North America lateral flow assay market. Because point-of-care testing devices are rapid, simple, and portable, they give faster results, leading to better patient outcomes.

Furthermore, more new products with better technology have been introduced as a result of the rising demand for point-of-care testing equipment. Therefore, the increased use of lateral flow assays and the growing demand for lateral flow tests in the food and beverage industry provide significant potential possibilities for companies in the lateral flow assays market. In addition, technological advancements and a surge in lateral flow assay procedures in clinical diagnostics present appealing market potential opportunities.

However, the increased regulations and inconsistent test results are hampering the North American Lateral flow assay market growth. 

This research report on the North American Lateral Flow Assay Market has been segmented and sub-segmented into the following categories.

North America Lateral Flow Assay Market Analysis By Product

• Reader

• Kit

North America Lateral Flow Assay Market Analysis By Application

• Clinical

• Veterinary

• Drug Development

• Food Safety

North America Lateral Flow Assay Market Analysis By Technique

• Competitive

• Multiplex

• Sandwich

North America Lateral Flow Assay Market Analysis by End User

• Hospitals and Clinics

• Home Care

• Diagnostic Laboratories

• Pharmaceutical and Biotechnology Companies

North America Lateral Flow Assay Market Analysis By Country

• The United States

• Canada

• Rest of North America

In 2023, The North America lateral flow assay market had the highest share globally, and this trend was expected to continue during the forecast period, owing to an increase in the prevalence of infectious diseases such as Lyme disease, tuberculosis and an elevated death rate connected to AIDS in the region. Additionally, due to government funding and assistance, the present COVID- 19 epidemic has boosted spending in research and innovation in the lateral flow assays industry in the region. Therefore, this region is predicted to have the greatest share of the lateral flow assays market throughout the forecast period due to these factors.

In the regional market, the United States dominated the North America Lateral flow assay market, and it is likely to continue its dominance throughout the forecast period. The lateral flow assays market in the United States is expected to give excellent growth possibilities due to the country’s multiple large hospitals and health systems, changing laws, and the country’s aging population. Furthermore, the US is home to the vast majority of global players, making it a center of lateral flow assays innovation. According to a report released by the US Department of Health and Human Services in January 2020, 37.832 people in the United States were diagnosed with HIV in 2018, and 38,000 new HIV infections are still occurring in the country. It has also been claimed that numerous infectious disorders, such as meningitis and urinary tract infections, are spreading rapidly, needing urgent diagnosis, demanding fast diagnostic testing devices fueling the North America lateral flow assay market. Furthermore, factors such as increased adoption of advanced infrastructure, the number of diagnostic facilities, and enhanced public awareness are likely to boost the market in the area, increasing its already impressive share of global market revenue.

Companies playing a dominant role in the North America Lateral Flow Assay Market profiled in this report are Alere Inc., F. Hoffmann-La Roche AG, Danaher Corporation, Siemens AG, Becton, Dickinson and Company, bioMérieux SA, Johnson & Johnson, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., and PerkinElmer Inc.