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Lateral Flow Assay Components Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Canada - Size and Forecast 2024-2028

Lateral Flow Assay Components Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Canada - Size and Forecast 2024-2028

Published: Aug 2024 169 Pages SKU: IRTNTR74725

Market Overview at a Glance

$95.5 Mn
Market Opportunity
5.07%
CAGR
4.61
YoY growth 2023-2024(%)

Lateral Flow Assay Components Market Size 2024-2028

The lateral flow assay components market size is forecast to increase by USD 95.5 million at a CAGR of 5.07% between 2023 and 2028.

  • The Lateral Flow Assay (LFA) components market is experiencing significant growth due to several key trends. Firstly, the increasing focus on research and development In the healthcare sector is driving market expansion. Furthermore, the growing demand for point-of-care (POC) testing, which LFAs are well-suited for, is another major growth factor. Additionally, regulatory requirements and inconsistent test results are leading to an increase in demand for standardized and reliable LFA components. These trends are expected to continue shaping the market dynamics In the coming years. Despite these opportunities, challenges persist, including the need for continuous innovation to address regulatory requirements and improve test accuracy.
  • Overall, the LFA components market is poised for steady growth, driven by these trends and the ongoing demand for rapid and reliable diagnostic solutions.

    • What will be the Size of the Lateral Flow Assay Components Market During the Forecast Period?

    Lateral Flow Assay Components Market Size

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  • The lateral flow assay (LFA) components market is experiencing significant growth due to the increasing demand for rapid and convenient diagnostic solutions in various industries. The geriatric population's rising healthcare needs, particularly in home-based settings, are driving market expansion. LFAs offer simplified, easy-to-use alternatives to conventional substitutes such as ELISA tests and cardiac marker testing. Rapid diagnosis of cardiovascular diseases, infectious diseases, and pregnancy are key applications fueling market growth. The food and beverage industry also utilizes LFAs for pathogen detection, while the veterinary sector benefits from their use in animal health testing. Antibodies and probe DNA are essential components of LFAs, enabling the detection of various analytes with high accuracy and sensitivity.
  • Rapid antigen testing for influenza and hepatitis are gaining popularity due to their convenience and quick results. The market is expected to continue growing as LFAs become increasingly integrated into various diagnostic applications, offering rapid, cost-effective, and user-friendly solutions.

    • How is this Lateral Flow Assay Components Industry segmented and which is the largest segment?

    The lateral flow assay components industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Technique
      • Sandwich assays
      • Competitive assays
      • Multiplex detection assays
    • End-user
      • Medical device manufacturing companies
      • Medical device contract manufacturing companies
    • Geography
      • North America
        • Canada
        • US
      • Europe
        • Germany
        • UK
      • Asia
        • China
      • Rest of World (ROW)

      By Technique Insights

      • The sandwich assays segment is estimated to witness significant growth during the forecast period.

      The Lateral Flow Assay (LFA) components market encompasses technologies utilized In the development of rapid diagnostic tests for various applications, including cardiovascular diseases, infectious diseases, pregnancy, HIV, chronic diseases, and biomarker detection. These tests offer advantages such as portability, rapid diagnosis, and simplicity, making them suitable for home-based use and clinical testing. LFA components consist of lateral flow membranes, rapid test kits, and infectious disease testing. Membranes include nitrocellulose membranes and pore size variants, while pads include sample pads, conjugate pads, absorbent pads, and clinical testing applications. The assay technique is applicable to various sectors, including women's health, veterinary diagnostics, drug development, food safety, animal health, and environmental testing.

      Sandwich assays and multiplex detection assays are common techniques used in LFA components. The market caters to diverse industries, including healthcare, food and beverage, diagnostic technique, and agriculture. LFA components provide solutions for drug testing, food microbiology, biowarfare, and behavioral health. Despite challenges like low biomolecule affinity and cross reactivity, LFA components offer advantages such as short analysis time and saliva diagnostics, making them a valuable tool in numerous industries.

      Lateral Flow Assay Components Market Size

      Get a glance at the  Lateral Flow Assay Components Industry report of share of various segments Request Free Sample

      The Sandwich assays segment was valued at USD 175.50 million in 2018 and showed a gradual increase during the forecast period.

      Regional Analysis

      • North America is estimated to contribute 45% to the growth of the global market during the forecast period.

      Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

      Lateral Flow Assay Components Market Share by Geography

      For more insights on the market share of various regions, Request Free Sample

      The Lateral Flow Assay (LFA) components market in North America holds a significant share due to the region's advanced healthcare infrastructure, high prevalence of chronic diseases like Lyme disease and tuberculosis, and a substantial number of LFA components manufacturers. According to the US Centers for Disease Control and Prevention (CDC), approximately 35-64 million influenza infections occurred In the US between October 2023 and May 25, 2024, resulting in around 390,000-820,000 hospitalizations. This underscores the importance of rapid diagnostic tools, including LFA, in addressing infectious diseases. Additionally, the increasing adoption of home-based devices, portability, and rapid diagnosis in various sectors such as cardiovascular diseases, infectious diseases, women's health, HIV, and chronic diseases, further propels market growth.

      LFA components include lateral flow membranes, rapid test kits, nitrocellulose membranes, pore size, and various pads (sample, conjugate, absorbent). These components support a range of applications, including infectious disease testing, biomarker detection, drug testing, food safety, animal health, and clinical testing. LFA is also utilized in veterinary diagnostics, drug development, sandwich assays, multiplex detection assays, and various diagnostic techniques. In sectors like cardiac marker testing, influenza testing, hepatitis, tuberculosis, HIV testing, HPV testing, chlamydia testing, gonorrhoea testing, syphilis testing, myoglobin testing, and pregnancy testing, LFA offers advantages such as simplified manner, rapid antigen testing, and ELISA tests. Industries like food and beverage, healthcare, and the veterinary sector benefit from LFA's ability to provide quick and accurate results, contributing to its increasing popularity.

      Market Dynamics

      Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

      What are the key market drivers leading to the rise In the adoption of Lateral Flow Assay Components Industry?

      Rising efforts in research and development is the key driver of the market.

    • The market is experiencing significant growth due to the increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, In the geriatric population. Rapid diagnosis through home-based devices is becoming increasingly important for early intervention and treatment. Lateral flow assays offer several advantages over conventional substitutes, including portability, simplified manner, and rapid test results. In the healthcare sector, lateral flow assays are used for infectious disease testing, including HIV, hepatitis, tuberculosis, influenza, and chlamydia. In women's health, pregnancy and fertility testing are common applications. In the veterinary diagnostics sector, lateral flow assays are used for animal health and drug development.
    • The food safety industry utilizes lateral flow assays for biomarker detection and food microbiology testing. In the agricultural sector, lateral flow assays are used for environmental testing and biowarfare detection. Sandwich assays and multiplex detection assays are popular techniques used in lateral flow assays. The market is driven by the need for rapid antigen testing, such as In the case of the COVID-19 pandemic. The use of lateral flow membranes, including nitrocellulose membranes and pore size, plays a crucial role In the assay's performance. The shelf life and analysis time are essential factors In the market's growth. Saliva diagnostics and behavioral health are emerging applications for lateral flow assays.
    • Drug testing and cardiac marker testing are other significant applications. The market is expected to grow further due to the increasing demand for rapid and accurate diagnostic techniques in various industries.

      • What are the market trends shaping the Lateral Flow Assay Components Industry?

      Growing demand for point-of-care (POC) testing is the upcoming market trend.

    • The lateral flow assays components market is witnessing significant growth due to the increasing demand for rapid and portable diagnostic solutions, particularly In the healthcare sector. Lateral flow assays are becoming increasingly popular for diagnosing various conditions, including cardiovascular diseases, infectious diseases, and chronic diseases, among others. These assays offer several advantages over conventional laboratory tests, such as faster analysis time, portability, and ease of use. Home-based devices using lateral flow membranes and rapid test kits are gaining popularity, especially for infectious disease testing and women's health applications such as pregnancy and fertility testing. Lateral flow membranes, including nitrocellulose membranes and pore size-controlled membranes, play a crucial role In the assay's functionality.
    • The market for lateral flow assays is expanding to include biomarker detection, drug testing, food safety, animal health, and various other applications. The lateral flow assays market is also witnessing innovation In the form of simplified sandwich assays and multiplex detection assays, which offer increased sensitivity and specificity. However, challenges such as low biomolecule affinity, cross reactivity, and pretreatment of samples can impact the market's growth. The market for lateral flow assays is expected to grow significantly due to the increasing demand for point-of-care (POC) testing in various industries, including healthcare, veterinary diagnostics, drug development, and food and beverage.
    • POC testing is anticipated to hold the greatest share In the lateral flow assays components market due to its importance in combating the growing disease burden. POC diagnostic tests do not require complex infrastructures and training, leading to less expensive tests compared to conventional laboratory diagnostic procedures. Furthermore, POC testing devices are quick, simple, and portable, providing faster results and better patient outcomes. Novel goods with improved technology are being introduced to meet the rising demand for POC testing equipment. The lateral flow assays components market is also expanding to include various applications such as saliva diagnostics, behavioral health, agriculture, biowarfare, environmental testing, food microbiology, and more.
    • Lateral flow assays are being used in various industries, including clinical testing, veterinary diagnostics, drug development, and food and beverage, among others. The market is expected to continue growing due to the increasing demand for rapid and portable diagnostic solutions. In summary, the lateral flow assays components market is experiencing significant growth due to the increasing demand for rapid and portable diagnostic solutions, particularly In the healthcare sector. Lateral flow assays offer several advantages over conventional laboratory tests, including faster analysis time, portability, and ease of use. The market is expanding to include various applications such as POC testing, biomarker detection, drug testing, food safety, animal health, and more.
    • The market is expected to continue growing due to the increasing demand for rapid and portable diagnostic solutions in various industries.

      • What challenges does the Lateral Flow Assay Components Industry face during its growth?

      Increase in regulations and inconsistency in test results is a key challenge affecting the industry growth.

    • Lateral flow assays have gained significance in various industries due to their rapid diagnosis capabilities, particularly In the healthcare sector for infectious diseases, cardiovascular diseases, chronic diseases, and women's health. However, inconsistency in test results and consumer reluctance to switch from conventional substitutes are major challenges hindering market expansion. The introduction of multiplexed assays, such as sandwich assays and multiplex detection assays, has also impacted the market growth. Lateral flow assays are used in infectious disease testing, cardiac marker testing, and veterinary diagnostics, among others. Key components include lateral flow membranes, rapid test kits, nitrocellulose membranes, pore size, and various pads, such as sample pads, conjugate pads, and absorbent pads.
    • These assays are portable, making them suitable for home-based devices and clinical testing. However, variations in test results due to sample pretreatment, cross reactivity, and stringent regulations have limited market growth. Moreover, the presence of alternative diagnostic techniques, such as ELISA tests and rapid antigen testing, further impacts the market dynamics. The market serves various industries, including healthcare, food and beverage, veterinary diagnostics, drug development, and food safety. Despite these challenges, the market is expected to grow due to the increasing demand for rapid and simplified diagnostic methods in various applications.

      • Exclusive Customer Landscape

      The lateral flow assay components market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the lateral flow assay components market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

      Lateral Flow Assay Components Market Share by Geography

       Customer Landscape

      Key Companies & Market Insights

      Companies are implementing various strategies, such as strategic alliances, lateral flow assay components market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

      Abbott Laboratories - The lateral flow assay market encompasses various components essential for the successful execution of this diagnostic technique. One such component is DIGIVAL, a versatile offering from the company. DIGIVAL is a critical element in lateral flow assays, contributing to the detection and visualization of targeted analytes through a colorimetric or chromogenic reaction. This component enhances the sensitivity and specificity of the assay, ensuring accurate and reliable results. DIGIVAL's role In the lateral flow assay process includes the conjugation of specific antibodies or probes, which subsequently bind to target antigens or biomolecules. The binding event triggers a cascade of reactions, leading to the production of a visible signal. As a result, DIGIVAL plays a pivotal role In the lateral flow assay process, contributing to its efficiency and overall performance.

      The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

      • Abbott Laboratories
      • Ahlstrom Holding 3 Oy
      • AXIVA SICHEM Pvt. Ltd.
      • Becton Dickinson and Co.
      • Bio Rad Laboratories Inc.
      • Bio Techne Corp.
      • Cytodiagnostics Inc.
      • DxDiscovery Inc.
      • F. Hoffmann La Roche Ltd.
      • Geno Technology Inc.
      • Hologic Inc.
      • Merck KGaA
      • Nupore Filtration System
      • Perkin Elmer Inc.
      • Porex Corp.
      • QIAGEN NV
      • Quidelortho Corp.
      • Sartorius AG
      • Siemens AG
      • Thermo Fisher Scientific Inc.

      Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

      Research Analyst Overview

      Lateral flow assays (LFAs) have gained significant attention in various industries due to their simplicity, portability, and rapid results. These diagnostic tools have become increasingly popular for the detection of biomolecules in various fields, including healthcare, food and beverage, veterinary diagnostics, and research. Lateral flow assays consist of several components that work together to provide accurate and reliable results. Membranes, pads, and conjugates are essential components of LFAs. Membranes serve as the foundation of the assay, providing a platform for the movement of fluids and the capture of biomolecules. Pads, including sample pads, absorbent pads, and conjugate pads, play a crucial role In the sample preparation and reaction process.

      The membranes used in LFAs are typically made of materials like nitrocellulose or cellulose acetate. The pore size and surface properties of these membranes can significantly impact the assay's performance, with smaller pores allowing for greater specificity and larger pores enabling faster analysis times. The shelf life of membranes is also an essential consideration, as prolonged storage can impact their performance. The pads used in LFAs serve various functions. Sample pads absorb the sample and deliver it to the test area, while absorbent pads absorb excess fluid and prevent backflow. Conjugate pads contain gold or silver nanoparticles conjugated with specific antibodies or probe DNA, which react with target biomolecules In the sample.

      The use of LFAs in clinical testing has revolutionized the diagnosis of various diseases, from cardiovascular diseases and infectious diseases to women's health issues and pregnancy testing. Rapid antigen testing and sandwich assays have become essential tools for the detection of infectious diseases, such as influenza, hepatitis, tuberculosis, HIV, HPV, chlamydia, gonorrhoea, syphilis, myoglobin, and others. In the veterinary sector, LFAs have become essential for the diagnosis of various diseases, including cardiac marker testing and infectious disease testing. These assays offer a simplified manner for veterinarians to diagnose diseases in animals, enabling quick treatment and improving animal health.

      LFAs have also found applications in drug development, biomarker detection, food safety, animal health, and other industries. The ability to detect low biomolecule affinity and the absence of cross reactivity makes LFAs an attractive option for various applications. Despite their advantages, LFAs face challenges, including issues related to pretreatment of samples and analysis time. Ongoing research and development efforts aim to address these challenges and improve the performance and accuracy of LFAs. In summary, lateral flow assays have become an essential diagnostic tool in various industries, offering rapid, portable, and accurate results. The components of LFAs, including membranes, pads, and conjugates, play a crucial role In the assay's performance.

      Ongoing research and development efforts aim to improve the performance and accuracy of LFAs, addressing challenges related to sample pretreatment and analysis time.

      Market Scope

      Report Coverage

      Details

      Page number

      169

      Base year

      2023

      Historic period

      		 2018-2022

      Forecast period

      2024-2028

      Growth momentum & CAGR

      Accelerate at a CAGR of 5.07%

      Market growth 2024-2028

      USD 95.5 million

      Market structure

      Fragmented

      YoY growth 2023-2024(%)

      4.61

      Key countries

      US, Germany, UK, China, and Canada

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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      What are the Key Data Covered in this Lateral Flow Assay Components Market Research and Growth Report?

      • CAGR of the Lateral Flow Assay Components industry during the forecast period
      • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
      • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
      • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
      • Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
      • Thorough analysis of the market’s competitive landscape and detailed information about companies
      • Comprehensive analysis of factors that will challenge the lateral flow assay components market growth of industry companies

      We can help! Our analysts can customize this lateral flow assay components market research report to meet your requirements.

      Get in touch

       

      1 Executive Summary

      • 1.1 Market overview
        • Executive Summary - Chart on Market Overview
        • Executive Summary - Data Table on Market Overview
        • Executive Summary - Chart on Global Market Characteristics
        • Executive Summary - Chart on Market by Geography
        • Executive Summary - Chart on Market Segmentation by Technique
        • Executive Summary - Chart on Market Segmentation by End-user
        • Executive Summary - Chart on Incremental Growth
        • Executive Summary - Data Table on Incremental Growth
        • Executive Summary - Chart on Company Market Positioning

      2 Market Landscape

      • 2.1 Market ecosystem
        • Parent Market
        • Data Table on - Parent Market
      • 2.2 Market characteristics
        • Market characteristics analysis
      • 2.3 Value chain analysis
        • Value Chain Analysis

      3 Market Sizing

      • 3.1 Market definition
        • Offerings of companies included in the market definition
      • 3.2 Market segment analysis
        • Market segments
      • 3.3 Market size 2023
        • 3.4 Market outlook: Forecast for 2023-2028
          • Chart on Global - Market size and forecast 2023-2028 ($ million)
          • Data Table on Global - Market size and forecast 2023-2028 ($ million)
          • Chart on Global Market: Year-over-year growth 2023-2028 (%)
          • Data Table on Global Market: Year-over-year growth 2023-2028 (%)

        4 Historic Market Size

        • 4.1 Global Lateral Flow Assay Components Market 2018 - 2022
          • Historic Market Size - Data Table on Global Lateral Flow Assay Components Market 2018 - 2022 ($ million)
        • 4.2 Technique segment analysis 2018 - 2022
          • Historic Market Size - Technique Segment 2018 - 2022 ($ million)
        • 4.3 End-user segment analysis 2018 - 2022
          • Historic Market Size - End-user Segment 2018 - 2022 ($ million)
        • 4.4 Geography segment analysis 2018 - 2022
          • Historic Market Size - Geography Segment 2018 - 2022 ($ million)
        • 4.5 Country segment analysis 2018 - 2022
          • Historic Market Size - Country Segment 2018 - 2022 ($ million)

        5 Five Forces Analysis

        • 5.1 Five forces summary
          • Five forces analysis - Comparison between 2023 and 2028
        • 5.2 Bargaining power of buyers
          • Bargaining power of buyers - Impact of key factors 2023 and 2028
        • 5.3 Bargaining power of suppliers
          • Bargaining power of suppliers - Impact of key factors in 2023 and 2028
        • 5.4 Threat of new entrants
          • Threat of new entrants - Impact of key factors in 2023 and 2028
        • 5.5 Threat of substitutes
          • Threat of substitutes - Impact of key factors in 2023 and 2028
        • 5.6 Threat of rivalry
          • Threat of rivalry - Impact of key factors in 2023 and 2028
        • 5.7 Market condition
          • Chart on Market condition - Five forces 2023 and 2028

        6 Market Segmentation by Technique

        • 6.1 Market segments
          • Chart on Technique - Market share 2023-2028 (%)
          • Data Table on Technique - Market share 2023-2028 (%)
        • 6.2 Comparison by Technique
          • Chart on Comparison by Technique
          • Data Table on Comparison by Technique
        • 6.3 Sandwich assays - Market size and forecast 2023-2028
          • Chart on Sandwich assays - Market size and forecast 2023-2028 ($ million)
          • Data Table on Sandwich assays - Market size and forecast 2023-2028 ($ million)
          • Chart on Sandwich assays - Year-over-year growth 2023-2028 (%)
          • Data Table on Sandwich assays - Year-over-year growth 2023-2028 (%)
        • 6.4 Competitive assays - Market size and forecast 2023-2028
          • Chart on Competitive assays - Market size and forecast 2023-2028 ($ million)
          • Data Table on Competitive assays - Market size and forecast 2023-2028 ($ million)
          • Chart on Competitive assays - Year-over-year growth 2023-2028 (%)
          • Data Table on Competitive assays - Year-over-year growth 2023-2028 (%)
        • 6.5 Multiplex detection assays - Market size and forecast 2023-2028
          • Chart on Multiplex detection assays - Market size and forecast 2023-2028 ($ million)
          • Data Table on Multiplex detection assays - Market size and forecast 2023-2028 ($ million)
          • Chart on Multiplex detection assays - Year-over-year growth 2023-2028 (%)
          • Data Table on Multiplex detection assays - Year-over-year growth 2023-2028 (%)
        • 6.6 Market opportunity by Technique
          • Market opportunity by Technique ($ million)
          • Data Table on Market opportunity by Technique ($ million)

        7 Market Segmentation by End-user

        • 7.1 Market segments
          • Chart on End-user - Market share 2023-2028 (%)
          • Data Table on End-user - Market share 2023-2028 (%)
        • 7.2 Comparison by End-user
          • Chart on Comparison by End-user
          • Data Table on Comparison by End-user
        • 7.3 Medical device manufacturing companies - Market size and forecast 2023-2028
          • Chart on Medical device manufacturing companies - Market size and forecast 2023-2028 ($ million)
          • Data Table on Medical device manufacturing companies - Market size and forecast 2023-2028 ($ million)
          • Chart on Medical device manufacturing companies - Year-over-year growth 2023-2028 (%)
          • Data Table on Medical device manufacturing companies - Year-over-year growth 2023-2028 (%)
        • 7.4 Medical device contract manufacturing companies - Market size and forecast 2023-2028
          • Chart on Medical device contract manufacturing companies - Market size and forecast 2023-2028 ($ million)
          • Data Table on Medical device contract manufacturing companies - Market size and forecast 2023-2028 ($ million)
          • Chart on Medical device contract manufacturing companies - Year-over-year growth 2023-2028 (%)
          • Data Table on Medical device contract manufacturing companies - Year-over-year growth 2023-2028 (%)
        • 7.5 Market opportunity by End-user
          • Market opportunity by End-user ($ million)
          • Data Table on Market opportunity by End-user ($ million)

        8 Customer Landscape

        • 8.1 Customer landscape overview
          • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

        9 Geographic Landscape

        • 9.1 Geographic segmentation
          • Chart on Market share by geography 2023-2028 (%)
          • Data Table on Market share by geography 2023-2028 (%)
        • 9.2 Geographic comparison
          • Chart on Geographic comparison
          • Data Table on Geographic comparison
        • 9.3 North America - Market size and forecast 2023-2028
          • Chart on North America - Market size and forecast 2023-2028 ($ million)
          • Data Table on North America - Market size and forecast 2023-2028 ($ million)
          • Chart on North America - Year-over-year growth 2023-2028 (%)
          • Data Table on North America - Year-over-year growth 2023-2028 (%)
        • 9.4 Europe - Market size and forecast 2023-2028
          • Chart on Europe - Market size and forecast 2023-2028 ($ million)
          • Data Table on Europe - Market size and forecast 2023-2028 ($ million)
          • Chart on Europe - Year-over-year growth 2023-2028 (%)
          • Data Table on Europe - Year-over-year growth 2023-2028 (%)
        • 9.5 Asia - Market size and forecast 2023-2028
          • Chart on Asia - Market size and forecast 2023-2028 ($ million)
          • Data Table on Asia - Market size and forecast 2023-2028 ($ million)
          • Chart on Asia - Year-over-year growth 2023-2028 (%)
          • Data Table on Asia - Year-over-year growth 2023-2028 (%)
        • 9.6 Rest of World (ROW) - Market size and forecast 2023-2028
          • Chart on Rest of World (ROW) - Market size and forecast 2023-2028 ($ million)
          • Data Table on Rest of World (ROW) - Market size and forecast 2023-2028 ($ million)
          • Chart on Rest of World (ROW) - Year-over-year growth 2023-2028 (%)
          • Data Table on Rest of World (ROW) - Year-over-year growth 2023-2028 (%)
        • 9.7 US - Market size and forecast 2023-2028
          • Chart on US - Market size and forecast 2023-2028 ($ million)
          • Data Table on US - Market size and forecast 2023-2028 ($ million)
          • Chart on US - Year-over-year growth 2023-2028 (%)
          • Data Table on US - Year-over-year growth 2023-2028 (%)
        • 9.8 Germany - Market size and forecast 2023-2028
          • Chart on Germany - Market size and forecast 2023-2028 ($ million)
          • Data Table on Germany - Market size and forecast 2023-2028 ($ million)
          • Chart on Germany - Year-over-year growth 2023-2028 (%)
          • Data Table on Germany - Year-over-year growth 2023-2028 (%)
        • 9.9 UK - Market size and forecast 2023-2028
          • Chart on UK - Market size and forecast 2023-2028 ($ million)
          • Data Table on UK - Market size and forecast 2023-2028 ($ million)
          • Chart on UK - Year-over-year growth 2023-2028 (%)
          • Data Table on UK - Year-over-year growth 2023-2028 (%)
        • 9.10 China - Market size and forecast 2023-2028
          • Chart on China - Market size and forecast 2023-2028 ($ million)
          • Data Table on China - Market size and forecast 2023-2028 ($ million)
          • Chart on China - Year-over-year growth 2023-2028 (%)
          • Data Table on China - Year-over-year growth 2023-2028 (%)
        • 9.11 Canada - Market size and forecast 2023-2028
          • Chart on Canada - Market size and forecast 2023-2028 ($ million)
          • Data Table on Canada - Market size and forecast 2023-2028 ($ million)
          • Chart on Canada - Year-over-year growth 2023-2028 (%)
          • Data Table on Canada - Year-over-year growth 2023-2028 (%)
        • 9.12 Market opportunity by geography
          • Market opportunity by geography ($ million)
          • Data Tables on Market opportunity by geography ($ million)

        10 Drivers, Challenges, and Opportunity/Restraints

        • 10.1 Market drivers
          • 10.2 Market challenges
            • 10.3 Impact of drivers and challenges
              • Impact of drivers and challenges in 2023 and 2028
            • 10.4 Market opportunities/restraints

              11 Competitive Landscape

              • 11.1 Overview
                • 11.2 Competitive Landscape
                  • Overview on criticality of inputs and factors of differentiation
                • 11.3 Landscape disruption
                  • Overview on factors of disruption
                • 11.4 Industry risks
                  • Impact of key risks on business

                12 Competitive Analysis

                • 12.1 Companies profiled
                  • Companies covered
                • 12.2 Market positioning of companies
                  • Matrix on companies position and classification
                • 12.3 Abbott Laboratories
                  • Abbott Laboratories - Overview
                  • Abbott Laboratories - Business segments
                  • Abbott Laboratories - Key news
                  • Abbott Laboratories - Key offerings
                  • Abbott Laboratories - Segment focus
                • 12.4 Ahlstrom Holding 3 Oy
                  • Ahlstrom Holding 3 Oy - Overview
                  • Ahlstrom Holding 3 Oy - Product / Service
                  • Ahlstrom Holding 3 Oy - Key news
                  • Ahlstrom Holding 3 Oy - Key offerings
                • 12.5 Becton Dickinson and Co.
                  • Becton Dickinson and Co. - Overview
                  • Becton Dickinson and Co. - Business segments
                  • Becton Dickinson and Co. - Key news
                  • Becton Dickinson and Co. - Key offerings
                  • Becton Dickinson and Co. - Segment focus
                • 12.6 Bio Rad Laboratories Inc.
                  • Bio Rad Laboratories Inc. - Overview
                  • Bio Rad Laboratories Inc. - Business segments
                  • Bio Rad Laboratories Inc. - Key news
                  • Bio Rad Laboratories Inc. - Key offerings
                  • Bio Rad Laboratories Inc. - Segment focus
                • 12.7 Bio Techne Corp.
                  • Bio Techne Corp. - Overview
                  • Bio Techne Corp. - Business segments
                  • Bio Techne Corp. - Key news
                  • Bio Techne Corp. - Key offerings
                  • Bio Techne Corp. - Segment focus
                • 12.8 F. Hoffmann La Roche Ltd.
                  • F. Hoffmann La Roche Ltd. - Overview
                  • F. Hoffmann La Roche Ltd. - Business segments
                  • F. Hoffmann La Roche Ltd. - Key news
                  • F. Hoffmann La Roche Ltd. - Key offerings
                  • F. Hoffmann La Roche Ltd. - Segment focus
                • 12.9 Geno Technology Inc.
                  • Geno Technology Inc. - Overview
                  • Geno Technology Inc. - Product / Service
                  • Geno Technology Inc. - Key offerings
                • 12.10 Hologic Inc.
                  • Hologic Inc. - Overview
                  • Hologic Inc. - Business segments
                  • Hologic Inc. - Key news
                  • Hologic Inc. - Key offerings
                  • Hologic Inc. - Segment focus
                • 12.11 Merck KGaA
                  • Merck KGaA - Overview
                  • Merck KGaA - Business segments
                  • Merck KGaA - Key news
                  • Merck KGaA - Key offerings
                  • Merck KGaA - Segment focus
                • 12.12 Perkin Elmer Inc.
                  • Perkin Elmer Inc. - Overview
                  • Perkin Elmer Inc. - Business segments
                  • Perkin Elmer Inc. - Key news
                  • Perkin Elmer Inc. - Key offerings
                  • Perkin Elmer Inc. - Segment focus
                • 12.13 QIAGEN NV
                  • QIAGEN NV - Overview
                  • QIAGEN NV - Product / Service
                  • QIAGEN NV - Key news
                  • QIAGEN NV - Key offerings
                • 12.14 Quidelortho Corp.
                  • Quidelortho Corp. - Overview
                  • Quidelortho Corp. - Product / Service
                  • Quidelortho Corp. - Key news
                  • Quidelortho Corp. - Key offerings
                • 12.15 Sartorius AG
                  • Sartorius AG - Overview
                  • Sartorius AG - Business segments
                  • Sartorius AG - Key news
                  • Sartorius AG - Key offerings
                  • Sartorius AG - Segment focus
                • 12.16 Siemens AG
                  • Siemens AG - Overview
                  • Siemens AG - Business segments
                  • Siemens AG - Key news
                  • Siemens AG - Key offerings
                  • Siemens AG - Segment focus
                • 12.17 Thermo Fisher Scientific Inc.
                  • Thermo Fisher Scientific Inc. - Overview
                  • Thermo Fisher Scientific Inc. - Business segments
                  • Thermo Fisher Scientific Inc. - Key news
                  • Thermo Fisher Scientific Inc. - Key offerings
                  • Thermo Fisher Scientific Inc. - Segment focus

                13 Appendix

                • 13.1 Scope of the report
                  • 13.2 Inclusions and exclusions checklist
                    • Inclusions checklist
                    • Exclusions checklist
                  • 13.3 Currency conversion rates for US$
                    • Currency conversion rates for US$
                  • 13.4 Research methodology
                    • Research methodology
                  • 13.5 Data procurement
                    • Information sources
                  • 13.6 Data validation
                    • Data validation
                  • 13.7 Validation techniques employed for market sizing
                    • Validation techniques employed for market sizing
                  • 13.8 Data synthesis
                    • Data synthesis
                  • 13.9 360 degree market analysis
                    • 360 degree market analysis
                  • 13.10 List of abbreviations
                    • List of abbreviations

                  Research Methodology

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Frequently Asked Questions

                  Lateral Flow Assay Components market growth will increase by $ 95.5 mn during 2024-2028 .

                  The Lateral Flow Assay Components market is expected to grow at a CAGR of 5.07% during 2024-2028 .

                  Lateral Flow Assay Components market is segmented by Technique( Sandwich assays, Competitive assays, Multiplex detection assays) End-user( Medical device manufacturing companies, Medical device contract manufacturing companies)

                  Abbott Laboratories, Ahlstrom Holding 3 Oy, AXIVA SICHEM Pvt. Ltd., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bio Techne Corp., Cytodiagnostics Inc., DxDiscovery Inc., F. Hoffmann La Roche Ltd., Geno Technology Inc., Hologic Inc., Merck KGaA, Nupore Filtration System, Perkin Elmer Inc., Porex Corp., QIAGEN NV, Quidelortho Corp., Sartorius AG, Siemens AG, Thermo Fisher Scientific Inc. are a few of the key vendors in the Lateral Flow Assay Components market.

                  North America will register the highest growth rate of 45% among the other regions. Therefore, the Lateral Flow Assay Components market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

                  US, Germany, UK, China, Canada

                  • Rising efforts in research and developmentThe increased emphasis on drug and therapy research and development for rare diseases such as salmonella and malaria will create enormous opportunities for lateral flow assay component manufacturers. Rising early diagnosis needs will increase the demand for conducting research activities is the driving factor this market.
                  • promoting market growth. During the COVID-19 outbreak is the driving factor this market.
                  • the FDA and the European Commission have approved some rapid lateral flow tests to prevent virus transmission and reduce infection or illness rates. The increased global prevalence of infectious diseases is the driving factor this market.
                  • a rapidly aging population is the driving factor this market.
                  • and home-based lateral flow assay kits are further estimated to drive the research and development of the global lateral flow assay components market. Some of the key development by the organizations are as follows: In September 2021 is the driving factor this market.
                  • Abingdon Health launched a score-card product is the driving factor this market.
                  • an accessory of the AbC-19 rapid test that provides semi-quantitative results to show the strength of antibody response and possible immunity. The use of the score-card accessory in conjunction with the AbC-19 lateral flow assay allows researchers to determine the presence and strength of IgG-neutralizing antibodies following infection and/or vaccination. This product launch aimed to broaden the company's product portfolio while also expanding the capabilities of the AbC-19 rapid test. In 2021 is the driving factor this market.
                  • Abbott released the Panbio COVID-19 Antigen Self-Test for the detection of the SARS-CoV-2 virus in children and adults with and without symptoms. This self-test detects infection from a nasal swab sample and provides a quick result within 15 minutes. This strategy allowed the company to broaden its lateral flow assay product portfolio while also increasing revenue generation. Thus is the driving factor this market.
                  • the rise in incidences of infectious diseases is anticipated to fuel the research and development in the lateral flow assay components market and is expected to grow the market in focus during the forecast period. is the driving factor this market.

                  The Lateral Flow Assay Components market vendors should focus on grabbing business opportunities from the Sandwich assays segment as it accounted for the largest market share in the base year.