U.S. Lateral Flow Assays Market Size & Outlook, 2023-2030
U.S. lateral flow assays market, 2018-2030 (US$M)
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U.S. lateral flow assays market highlights
- The U.S. lateral flow assays market generated a revenue of USD 2,938.7 million in 2023 and is expected to reach USD 3,711.0 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.4% from 2024 to 2030.
- In terms of segment, kits & reagents was the largest revenue generating product in 2023.
- Kits & Reagents is the most lucrative product segment registering the fastest growth during the forecast period.
Lateral flow assays market data book summary
| Market revenue in 2023 | USD 2,938.7 million |
| Market revenue in 2030 | USD 3,711.0 million |
| Growth rate | 3.4% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Kits & Reagents |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Lateral Flow Readers |
| Key market players worldwide | Abbott Laboratories, Thermo Fisher Scientific Inc, Roche, Bio-Rad Laboratories Inc, BioMerieux SA, QuidelOrtho Corp, Hologic Inc, PerkinElmer, Merck KGaA, BD, Siemens Healthineers AG ADR, Danaher Corp, Qiagen NV |
Other key industry trends
- In terms of revenue, U.S. accounted for 28.9% of the global lateral flow assays market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lateral flow assays market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 924.0 million by 2030.
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Lateral Flow Assays Market Scope
Lateral Flow Assays Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. lateral flow assays market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lateral flow assays market will help companies and investors design strategic landscapes.
Kits & reagents was the largest segment with a revenue share of 68.42% in 2023. Horizon Databook has segmented the U.S. lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing prevalence of infectious diseases in the U.S. is expected to propel market growth during the forecast period. For instance, as per the U.S. CDC estimates, between 2010 and 2020, there have been around 9 million to 41 million influenza infection cases, leading to about 140 thousand to 710 thousand hospitalizations, and 12 thousand to 52 thousand deaths annually in the U.S.
There has been an increasing number of government initiatives and awareness programs to curb the spread of HIV/AIDS in the country. For instance, Ending the HIV Epidemic in the U.S. (EHE) is one such program launched in 2019 with the aim of ending the country’s HIV epidemic by 2030.
Under this initiative, an operational plan has been developed by the U.S. Department of Health and Human Services (HHS) that seeks to reduce the number of new HIV infections in the country by 75% by 2025, and by 90% by 2030.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into U.S. lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. lateral flow assays market size, by product, 2018-2030 (US$M)
U.S. Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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