Lateral flow (immuno)assays are widely used for qualitative, semiquantitative, and to some extent quantitative monitoring in resource-poor or non-laboratory environments. These assays are used for testing pathogens, drugs, hormones, and metabolites in various settings, including biomedical, phytosanitary, veterinary, feed/food, and environmental. The technology is based on the movement of a liquid sample along a strip of polymeric material, where molecules interact with the analyte of interest. The assay format is similar to enzyme immunoassays but does not replace them. Lateral flow assays (LFAs) are often incorrectly referred to as "dipsticks," but they are designed for single-use at point of care/need. Results are typically available within 10–20 minutes, with high sensitivity, selectivity, and ease of use. The current generation of LFAs uses miniaturized thin-layer chromatography, analyte-specific antibodies, or DNA/RNA sequences, and labels such as colloidal gold or latex nanoparticles. The strengths of lateral flow assays include their portability, speed, and ease of use, making them suitable for point-of-care testing. However, they have limitations in quantitative results, sensitivity, and the need for visual interpretation. Opportunities include their use in home testing, environmental monitoring, and food safety. Threats include the need for more accurate quantitative results and the potential for interference from sample matrix components. A SWOT analysis highlights the importance of improving reproducibility, sensitivity, and the integration of advanced technologies such as quantum dots and upconverting phosphor technology. Future perspectives include the development of lab-on-a-chip formats and the integration of LFAs with other technologies to enhance their capabilities. Despite challenges, lateral flow assays remain a valuable tool for rapid, on-site testing in various applications.Lateral flow (immuno)assays are widely used for qualitative, semiquantitative, and to some extent quantitative monitoring in resource-poor or non-laboratory environments. These assays are used for testing pathogens, drugs, hormones, and metabolites in various settings, including biomedical, phytosanitary, veterinary, feed/food, and environmental. The technology is based on the movement of a liquid sample along a strip of polymeric material, where molecules interact with the analyte of interest. The assay format is similar to enzyme immunoassays but does not replace them. Lateral flow assays (LFAs) are often incorrectly referred to as "dipsticks," but they are designed for single-use at point of care/need. Results are typically available within 10–20 minutes, with high sensitivity, selectivity, and ease of use. The current generation of LFAs uses miniaturized thin-layer chromatography, analyte-specific antibodies, or DNA/RNA sequences, and labels such as colloidal gold or latex nanoparticles. The strengths of lateral flow assays include their portability, speed, and ease of use, making them suitable for point-of-care testing. However, they have limitations in quantitative results, sensitivity, and the need for visual interpretation. Opportunities include their use in home testing, environmental monitoring, and food safety. Threats include the need for more accurate quantitative results and the potential for interference from sample matrix components. A SWOT analysis highlights the importance of improving reproducibility, sensitivity, and the integration of advanced technologies such as quantum dots and upconverting phosphor technology. Future perspectives include the development of lab-on-a-chip formats and the integration of LFAs with other technologies to enhance their capabilities. Despite challenges, lateral flow assays remain a valuable tool for rapid, on-site testing in various applications.