Growth Factors

COVID-19 impact on universal lateral flow assay kit market acts as a burgeoning factor for the overall growth

COVID-19 pandemic has a positive impact on the universal lateral flow assay kit market globally. In fact, sending patient samples to the laboratories for testing, utility of universal lateral flow assay kit is more convenient for laboratory testing. As it is available in smaller, portable, and can be controlled with minimal training it has gained high prominence in the global market during COVID-19 pandemic. Such factors makes it center of attention for deployment outside of healthcare facilities for low and middle income groups. Also, makes it profitable for those countries rolling out for mass population screening programs. Countries such as Slovakia and the United Kingdom are using universal lateral flow assay kits extensively for mass screening programs. For instance, the British Government has approved lateral flow device (LFD) viral antigen immunoassays that has been developed by commercial and research organizations worldwide as diagnostic tests for COVID-19 infections. This is highly supported owing to UK Government planning to scale up mass population testing. It has gained high prominence due to its specialization for testing different proteins targets and is routinely used in healthcare settings principally as a result of their affordability, easy-to-use, short turnaround time, and high test accuracy. The newly developed COVID-19 antigen LFDs identify the presence of specific viral proteins, using conjugated antibodies that bind, spike, envelope, membrane or nucleocapsid proteins. When compared with Reverse Transcriptase Polymerase Chain Reaction (RT-PCR) LFDs show results within 10-30 minutes depending on the device.

Technological advancements in the universal lateral flow assay kits acts positively for the ultimate growth of the global market

The technology supported products provides a tool for the easy, quick development of customized sandwich lateral flow assays. This enhances the researchers to rapidly progress the R&D of point-of-care (POC) diagnostic tools thereby providing physicians with faster access to POC testing for rapid early detection of disease. The technology supported universal lateral flow assay kits has gained huge demand from the overall market due to surge in demand for POC testing and increasing prevalence of infectious diseases globally. By launching technology supported universal lateral flow assay kit provoke the researchers to streamline the R&D of diagnostic tests and enables rapid development of POC diagnostic tools for entry in developing economies. For instance, SYGNIS AG announced launching of new product supported by novel technology for universal lateral flow assay kit. The newly launched kit utilizes the company's world leading patented antibody labeling technologies Lightning-Link® and InnovaCoat® GOLD that enables the customers to create lateral flow assay reagents with only few minutes hands-on time, without the need for spray down capture antibodies on the test strip. With strong technology support it provides complete flexibility to the customer offering the ability to optimize a personalized lateral flow assay in a few days instead of weeks.

Government involvement acts as a flourishing factor for the growth of universal lateral flow assay kits market globally

Universal Lateral flow Assay Kit is one of the new tools intended to assist detection and fight COVID-19. The Public Health England and Oxford University have performed extensive clinical validation and filed evaluations to access and understand the performance of the tests to be used in communities and care homes. Through integration of universal lateral flow assay kit it helps in detection of majority of cases containing the high level of virus that is more likely to transmit. The kits used are quick and convenient prior to care home visit allowing showing results within 30 minutes.

Market Segmentation

The Universal Lateral Flow Assay Kits market is segmented based on type and application. Based on type, the universal lateral flow assay (LFA) kit is bifurcated as customized specification and general specification. Further, by application, the market is classified into sandwich FLA and point-of-care testing.

Based on application, point-of-care testing will hold prominent market share for the growth of global Universal Lateral Flow Assay Kits market. The segmental growth is attributed to surging prevalence of infectious diseases and mass population screening to display the results within minutes. Additionally, companies involved in development of new medical equipments are striving hard to utilize several technological advancement tools to support point-of-care testing devices. For records, Mesa Biotech’s Accula system is a hand-held device that is fully automated RT-PCR process. It possesses a slim cartridge containing a sample that utilizes lateral flow visual readout indicating the test results in about 30 minutes. Additionally, the new product designed by Quidel’s Sofia 2 is an antigen test that displays results within 15 minutes. The company's third-point of care device is an antigen test specialized in displaying results within 15 minutes.

Regional Overview

North America dominates the market and will continue similar trend in the coming years

Rising incidences of various infectious diseases involving Lyme disease, tuberculosis, and an increased mortality rate associated with HIV/AIDS in the region. In North America, the US holds the largest market share owing to ever-growing patient pool and affordable product pricing coupled with increasing disposable incomes. The pandemic had a long-lasting impact that forced the government to mass screening programs boosting the regional growth in this region. Furthermore, the rising adoption rate of advanced infrastructure, volume of diagnostic centers, spreading awareness among the population are the stimulating factors that boost the regional market growth of Universal Lateral Flow Assay Kits market. Also, supports to record remarkable market share contributing the growth of global Universal Lateral Flow Assay Kits market.

Competitive Landscape

The prominent players involved in Universal Lateral Flow Assay Kits market involves Thermo Fisher Scientific, PerkinElmer, Inc., Bio-Rad Laboratories, Hologic, Inc., Becton, Dickinson and Company, Milenia Biotec GmbH, Abcam, Novus Biologicals, Innova Biosciences Ltd., BioSpace, and among others.

Market Segmentation

Market By Type

Customized Specifications
General Specifications

Market By Application

Sandwich FLA
Point-of-care Testing

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa