The global Lateral Flow Assay (LFA) components market size was USD 340.7 Million in 2021 and is expected to register a revenue CAGR of 4.1% during the forecast period, according to the latest analysis by Emergen Research. Increasing adoption of lateral flow assay devices in home settings for early detection and diagnosis of infectious diseases, growing technological advancements in the product design of lateral flow assay components, and the increasing prevalence of infectious diseases globally are some of the key factors driving market growth.
The market size, revenue growth, and CAGR from 2022 to 2030 are all addressed in the Lateral Flow Assay Components Market Analysis. The research also gives significant insights into the top market players, including SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis, to give readers a competitive edge. The study focuses on the current epidemic’s most recent trends, major challenges, opportunities, and limitations.
One of the approaches for qualitative and quantitative analysis is the use of lateral flow assay-based devices. On a plastic background, LFA is applied to a strip that has been constructed out of various parts. Nitrocellulose membrane, adsorption pad, conjugate pad, and sample application pad are among these elements. In addition, LFA blends biorecognition probes with the unique advantages of chromatography, and LFA-based strips come in a variety of detection forms. LFA development is kept within specs and budget by making intelligent decisions early on, such as selecting the proper type of Nitrocellulose (NC) membrane. Moreover, rising lateral flow assay device use for infectious illness early detection and diagnosis is another key factor driving market growth. Lateral flow immunoassays are indispensable for the diagnosis of infectious illnesses, and as a result of technological developments, these tests now function better and are acknowledged by professional users.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Lateral Flow Assay Components market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Merck KGaA, Danaher Corporation, Sartorius Stedim Biotech, Abbott., Advanced Microdevice Pvt. Ltd., Ahlstrom-Munksjö., Nupore Filtration, DCN Diagnostics., Ballya Bio., and PerkinElmer Inc.
How will this Report Benefit you?
An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Lateral Flow Assay Components market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Lateral Flow Assay Components. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.
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Some Key Highlights From the Report
- The sandwich assay segment accounted for largest revenue share in 2021. Sandwich lateral flow assays, which provide a quick, affordable, one-step assay, are some of the most commercially commercialized paper-based biosensors. Sandwich-based immunostrip, known as lateral flow strip test, is used to quickly (5–20 min) determine whether target molecules are present in a sample. This kind of test is suitable for use in detection and diagnosis of snakebites and can give medical professionals advice on how to deliver antivenom. It is more commonly used for bigger molecular weight analytes because smaller molecular weight compounds do not respond as well to sandwich configuration. Sandwich format assays are used when analyte has many binding sites (aptamers epitopes), whereas competitive substrates are more practical for analytes with low molecular weight or a single binding site, which is significantly driving revenue growth of this segment.
- The pads segment is expected to account at a steady revenue CAGR during the forecast period. Pads on membrane’s two sides are equally important for performance. The sample pad can serve a variety of purposes, most crucial is to distribute sample uniformly and guide it toward conjugate pad. Sample pad is typically impregnated with buffer salts, proteins, surfactants, and other fluids to regulate sample’s flow rate and prepare it for contact with detection system. In addition, sample pad’s holes can function as a filter to eliminate extraneous elements such as red blood cells. Conjugate pad’s primary job is to store detector particles and maintain their functional stability up until the test is conducted.
- The Asia Pacific market accounted for a significant revenue share in 2021. This is attributed to rising incidences of infectious diseases, such as dengue, respiratory syncytial viruses and COVID-19, favorable government regulations as well as rising R&D activities and projects. Governments of countries, such as China, South Korea, and many others, are practicing mass testing resulting in higher demand for rapid testing kits based on lateral flow assays to curb rising cases of new variants of COVID-19 and further mutations. India and China are densely populated countries and only social distancing is not sufficient to minimize the spread of this disease, therefore, efficient testing kits showcasing rapid results are largely demanded in this region.
What Questions Should You Ask before Buying a Market Research Report?
- How is the Lateral Flow Assay Components market evolving?
- What is driving and restraining the Lateral Flow Assay Components market?
- How will each Lateral Flow Assay Components submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
- How will the market shares for each Lateral Flow Assay Components submarket develop from 2022 to 2030?
- What will be the main driver for the overall market from 2022 to 2030?
- Will leading Lateral Flow Assay Components markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
- Who are the leading players and what are their prospects over the forecast period?
- What are the Lateral Flow Assay Components projects for these leading companies?
- How will the industry evolve during the period between 2022 and 2030? What are the implications of Lateral Flow Assay Components projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the Lateral Flow Assay Components market?
- Where is the Lateral Flow Assay Components market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the Lateral Flow Assay Components market today, and over the next 10 years:
- Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them – Now.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you Today how the Lateral Flow Assay Components market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Market Overview:
The report bifurcates the Lateral Flow Assay Components market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Million; 2019-2030)
- Pads
- Membranes
- Lateral Flow Test Strips & Readers
- Others
- Technique Outlook (Revenue, USD Million; 2019-2030)
- Sandwich Assays
- Multiplex Detection Assays
- Competitive Assays
- Application Outlook (Revenue, USD Million; 2019-2030)
- Clinical Testing
- Food Safety & Environmental Testing
- Drug Development & Quality Testing
- Others
Forecasts to 2030 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2030, our new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Lateral Flow Assay Components prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
How will the Lateral Flow Assay Components Market, 2022 to 2030 report help you?
In summary, our 250-page report provides you with the following knowledge:
- Revenue forecasts to 2030 for Lateral Flow Assay Components Market, 2022 to 2030 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2030 for four regional and 20 key national markets – See forecasts for the Lateral Flow Assay Components Market, 2022 to 2030 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Lateral Flow Assay Components Market, 2022 to 2030.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Lateral Flow Assay Components Market, 2022 to 2030, market-leading companies. You will find data, trends and predictions.
The content of each profile differs, depending on the organization. In general, a profile gives the following information:
- Overview of the company’s Lateral Flow Assay Components products & services
- Analysis of recent financial performance–annual revenue of the companies
- Assessment of developments–activities, acquisitions, production capacity, deals, new service offerings and collaborations
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