The Lateral Flow Assays (LFA) Market is expected to grow at a CAGR of 8.8% from 2020 to 2027 to reach $13.85 billion by 2027
Lateral flow assays are devices used to confirm the presence or absence of a target analyte without the need for lab equipment. These devices are widely used in hospitals and clinical laboratories for the qualitative and quantitative detection of specific antigens and antibodies. It is a simple and low-cost technology used in qualitative and quantitative detection of pathogens or biomarkers in humans or animals, or contaminants or toxic elements in water supplies, foodstuffs, or animal feeds. The growth of this market is mainly attributed to the benefits of LFA-based rapid tests over laboratory testing, increasing usage of home-based lateral flow assay kits, growing demand for point-of-care testing, increasing prevalence of chronic & infectious diseases, and growing acceptance of smart devices. In addition, evolving applications of lateral flow assays and rising demand for lateral flow assays in the food & beverage industry offer significant growth opportunities for players operating in the lateral flow assays market.
Here are the top 10 companies operating in Lateral Flow Assays Market
Abbott Laboratories develops, manufactures, and sells a broad and diversified range of healthcare products. The company’s products include pharmaceutical, nutritional, diagnostic, and vascular products. The company offers its products through four operating segments, namely, Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Cardiovascular and Neuromodulation Products. Abbott manufactures and markets lateral flow assay devices through the Rapid Diagnostics segment (a part of the Diagnostic Products segment).
Abbott has its presence across various countries like Germany, Japan, India, Switzerland, Russia, France, Brazil, Italy, the U.K., the U.S., the Netherlands, Colombia, Vietnam, and other countries. The company operates through its 92 manufacturing facilities across the globe, of which 23 are for diagnostic product manufacturing.
Some of its subsidiaries operating in the lateral flow assays market include Abbott Rapid Diagnostics Informatics, Inc. (U.S.), Abbott Rapid Diagnostics ULC (Canada), Abbott Rapid Diagnostics Germany GmbH (Germany), Abbott Rapid Diagnostics Jena GmbH (Germany), Abbott Rapid Diagnostics Limited (United Kingdom), Abbott Rapid Diagnostics S.r.l. (Italy), and Abbott Rapid Diagnostics Healthcare, S.L. (Spain), among others.
Becton, Dickinson and Company
Becton, Dickinson and Company (BD) is a global medical technology company engaged in developing, manufacturing, and selling a range of medical supplies, devices, laboratory equipment, and diagnostic products. The company operates through three business segments: BD Medical, BD Life Sciences, and BD Interventional. The BD Life Sciences segment provides products for the safe collection and transport of diagnostics specimens, and instruments and reagent systems to detect a range of infectious diseases, healthcare-associated infections, and cancers. The company’s BD Life Sciences segment consists of various business units, including preanalytical systems, diagnostic systems, and biosciences. The company operates into the lateral flow assays market through its Diagnostic Systems sub-segment of the BD Life Sciences segment.
The subsidiaries of the company operating in the lateral flow assays market include Becton Dickinson Canada Inc. (Canada), Becton Dickinson GmbH (Germany), ARX SA (Switzerland), BD Rapid Diagnostic (Suzhou) Co., Ltd. (China), Becton Dickinson Asia Limited (Hong Kong), Becton, Dickinson B.V. (Netherlands) and Becton Dickinson India Private Limited.
Thermo Fisher Scientific, Inc.
Thermo Fisher manufactures scientific instruments, consumables, and chemicals. The company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.
The company operates through four business segments—Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Services. The Specialty Diagnostics segment offers a broad range of products, such as diagnostic test kits, reagents, culture media, instruments, and associated products to serve customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories. The company operates through its Specialty Diagnostics in the lateral flow assays market. The subsidiaries of the company operating in the lateral flow assays market include Thermo Fisher Scientific C.V. (Netherlands), Medical Diagnostics Systems, Inc. (U.S.), Athena Diagnostics, Inc (Delaware), Scientific Products (Asia Pacific) Pte. Ltd. (Singapore), and Scientific Products (Shanghai) Pte. Ltd. (China).
F. Hoffmann-La Roche AG
F. Hoffmann-La Roche provides in-vitro diagnostics and drugs for cancer and transplantation. The company specializes in oncology, virology, inflammation, metabolism, CNS, clinical chemistry, immunology, urinalysis, blood screening, genetics, infectious diseases, and microbiology. The company operates through two business segments, namely, Pharmaceuticals and Diagnostics. The Roche Diagnostics segment offers in-vitro diagnostic solutions, covering clinical chemistry and immunoassays, molecular and digital diagnostics, point of care testing, patient self-testing, next-generation sequencing, laboratory automation and IT, and decision support. The company operates in the lateral flow assays market through its Centralized and Point-Of-Care Solutions segment (a part of the Diagnostics segment).
Roche has its presence across the U.S., Germany, Switzerland, Japan, China, India, New Zealand, Australia, Latin America, and Africa. The subsidiaries of the company operating in the lateral flow assays market include Genentech (U.S.), Roche Diagnostics (U.S.), Roche Diagnostics GmbH (Germany), Roche Diagnostics (Shanghai) Ltd. (China), Roche Diagnostics (Suzhou) Limited (China) and Roche Diagnostics K.K (Japan).
“Meticulous Research in its latest publication on Lateral Flow Assays Market has predicted the growth of 8.8% during the forecast year 2020-2027”
Siemens Healthineers AG
Siemens Healthineers is a provider of healthcare solutions and services. The company provides medical technology and software solutions and clinical consulting services supported by extensive training and service offerings. Siemens Healthineers operates through three business segments: Imaging, Diagnostics, and Advanced Therapies. Siemens operates in the lateral flow assays market through its Diagnostics segment.
The subsidiaries of the company operating in the lateral flow assays market include Siemens Healthcare Diagnostics Products GmbH (Germany), Siemens Healthcare Limited (Canada), Siemens Healthcare AG (Switzerland), Siemens Healthcare Diagnostics Inc. (United States), Siemens Healthcare Diagnostics Ltd. (United Kingdom), Siemens Healthcare Diagnostics K.K (Japan), Siemens Healthcare Limited (Hong Kong), and Siemens Healthineers Diagnostics (China).
bioMérieux designs, develops, manufactures, and markets systems in the field of in-vitro diagnostics for medical and industrial applications. The company is specialized in the diagnosis of infectious diseases and pathologies. bioMérieux is also active in analyzing food, pharmaceuticals, and environmental samples to determine their microbiological quality.
The company operates through two business segments—Clinical Applications and Industry Applications. The Clinical Applications segment provides vitro diagnostic solutions that help doctors and healthcare workers determine the disease source. This segment is further categorized into Microbiology, Immunoassays, and Molecular Biology. Through its Immunoassays segment, the company operates in the lateral flow assays market.
The subsidiaries of the company operating in the lateral flow assays market include bioMérieux UK Ltd, bioMérieux Inc (Canada), Cambridge bioMérieux Inc (U.S.) bioMérieux Japan Ltd., bioMérieux Brazil S.A., bioMérieux Inc Egypt, bioMérieux CZ s.r.o., bioMérieux Austria GmbH, bioMérieux espala S.A. (Spain), bioMérieux Asia Pacific Pte. Ltd. (Singapore), bioMérieux China Ltd., and bioMérieux India Private Limited.
Bio-Rad Laboratories, Inc.
Bio-Rad Laboratories is engaged in the research, development, and production of specialty chemicals for biochemical, pharmaceutical, and other life science research applications. The company operates through two business segments —Life Science and Clinical Diagnostics. The Clinical Diagnostics segment designs, manufactures, sells, and supports test systems, informatics systems, test kits, and specialized quality controls for clinical laboratories in the global diagnostics market. The company operates in the lateral flow assays market through its Clinical Diagnostics
The company has direct distribution channels in more than 35 countries outside the U.S. The company has major manufacturing and distribution facilities, including the Western U.S., France, Switzerland, Germany, and Singapore. The subsidiaries of the company operating in the lateral flow assays market include Bio-Rad Laboratories N.V. (Belgium), Bio-Rad Pacific Limited (U.S.), Bio-Rad Laboratories GmbH (Germany), and Bio-Rad Laboratories AB (Switzerland).
QIAGEN is a provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research. The company provides solutions that help to transform biological materials into valuable molecular insights. QIAGEN provides sample technologies that isolate and processes DNA, RNA, and proteins from any biological sample, such as blood or tissue.
QIAGEN operates through two major business segments: Molecular Diagnostics and Life Sciences. The Molecular Diagnostics segment markets products that help healthcare providers in many aspects of patient care by providing accurate diagnoses and insights to guide treatment decisions in oncology, infectious diseases, and immune monitoring. The company operates in the lateral flow assays market through its Molecular Diagnostics segment. The subsidiaries of the company operating in the lateral flow assays market include QIAGENAG (Switzerland), QIAGEN China (Shanghai) Co. Ltd. (China), QIAGEN GmbH (Germany), QIAGEN Inc (Canada), and QIAGEN K.K. (Japan).
PerkinElmer provides technology, services, and solutions to the diagnostics, research, environmental, industrial, and laboratory services market. The company’s products include equipment used for genetic screening and drug discovery, optoelectronics, analytical instruments, image detection systems, and fluid containment products. The company operates through two business segments: Discovery & Analytical Solutions and Diagnostics.
The Discovery & Analytical Solutions segment offers products that help researchers to understand diseases and develop treatments. In addition, this segment also helps scientists diagnose, monitor, and manage contaminants and toxic chemicals that directly impact the environment and food supply. PerkinElmer operates in the lateral flow assays market through its Discovery & Analytical Solutions segment.
The subsidiaries of the company operating in the lateral flow assays market include PerkinElmer, Inc (U.S.), PerkinElmer Healthcare Diagnostics (Shanghai) Co., Ltd. (China), PerkinElmer Germany Diagnostics GmbH, Perkin Elmer Italia SpA, PerkinElmer Finland Oy, PerkinElmer International C.V (Netherlands) and PerkinElmer Singapore Pte.
Quidel discovers, develops, manufactures, and markets diagnostic healthcare products and solutions. The company offers diagnostic solutions that help detect and diagnose critical diseases and other medical conditions, including infectious, women’s health, gastrointestinal, autoimmune, and bone health, and thyroid diseases.
The company operates through four business segments: Rapid Immunoassay, Cardiac Immunoassay, Specialized Diagnostic Solutions, and Molecular Diagnostic Solutions. The Rapid Immunoassay segment offers a wide range of products that include fluorescent immunoassay (FIA) systems, rapid test kits, and POC products used in physician offices, hospital laboratories and emergency departments, retail clinics, eye health settings, pharmacies, and other urgent care settings. The company operates in the lateral flow assays market through its Rapid Immunoassay and Molecular Diagnostic Solutions segments.
The subsidiaries of the company operating in the lateral flow assays market include McKellar Court (U.S.), Diagnostic Hybrids, Inc. (U.S.), Quidel Cardiovascular Inc. (Delaware), Quidel Ireland Limited, and Quidel China Ltd.
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