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The lateral flow assay components market size is forecast to increase by USD 97.76 million, at a CAGR of 5.22% between 2022 and 2027. The market's growth trajectory hinges on various factors, notably the increasing focus on research and development initiatives aimed at enhancing product innovation and efficacy. Technological advancements play a pivotal role, in driving the development of more sophisticated and user-friendly home-based lateral flow assay devices. These devices, offering rapid and convenient diagnostic solutions, are witnessing growing acceptance among consumers, further propelling market expansion. Additionally, heightened awareness regarding the importance of early detection and monitoring of health conditions contributes to increased adoption. As stakeholders continue to invest in advancing technology and improving accessibility to diagnostic tools, the market is poised for sustained growth, addressing evolving healthcare needs and preferences effectively.
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The report extensively covers market segmentation by technique (sandwich assays, competitive assays, and multiplex detection assays), end-user (medical device manufacturing companies and medical device contract manufacturing companies), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market encompasses the supply of essential elements used in the production of LFA devices for various healthcare applications. These components include conjugates, such as antibodies and probe DNA, which play a crucial role in the specific recognition and detection of target biomolecules. In the geriatric population, home-based LFA devices have gained significance as conventional substitutes for laboratory-based diagnostic techniques. These rapid diagnosis tools are instrumental in the timely identification of cardiovascular diseases and infectious diseases, thereby improving healthcare outcomes. The veterinary sector also benefits from LFA technology, with applications in cardiac marker testing and influenza testing. Food and beverage industries utilize LFA components for the detection of specific proteins or pathogens in their products. ELISA tests and rapid antigen testing are common diagnostic techniques that employ LFA components for the qualitative and quantitative analysis of biomolecules. Hepatitis and influenza are among the numerous diseases that can be diagnosed using these simplified diagnostic methods. In summary, the LFA Components Market holds immense potential due to the increasing demand for rapid, accurate, and cost-effective diagnostic solutions across diverse sectors. Our researchers analyzed the data with 2022 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.
The rising efforts in research and development are the key factor driving the global lateral flow assay components market growth. The market is experiencing significant growth due to the increasing focus on research and development for various applications, including infectious diseases such as salmonella and malaria, cardiovascular diseases, chronic diseases, pregnancy, HIV, and drug testing. The geriatric population and the availability of home-based devices are driving the demand for rapid diagnosis and portability. Infectious disease testing, women's health, and food safety are key areas of application. LFA components include lateral flow membranes, nitrocellulose membranes, pore size, and various pads such as sample pads, conjugate pads, and absorbent pads.
Moreover, rapid test kits, biomarker detection, and drug development also utilize LFA components. Sandwich assays and veterinary diagnostics are other applications. Challenges include low biomolecule affinity, cross reactivity, pretreatment of samples, analysis time, and shelf life. Applications in behavioral health, agriculture, biowarfare, environmental testing, food microbiology, and animal health are also expanding the market. Thus, 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.
The growing demand for point of care testing is the primary trend in the market. The market is significantly growing due to the increasing adoption of POC tests, particularly in combating the burden of infectious diseases, cardiovascular diseases, and chronic diseases in the geriatric population. Home based devices have gained popularity as they offer rapid diagnosis without the need for complex infrastructures and specialized training. LFA-based POC tests are faster and more cost-effective than conventional laboratory procedures. Lateral flow membranes and rapid test kits are essential components of these devices. They are used in infectious disease testing, women's health (pregnancy and HIV), drug testing, food safety, animal health, and various other applications. The portability of these devices allows for on-site analysis, reducing analysis time and improving patient outcomes. Novel goods with improved technology, such as nitrocellulose membranes with optimized pore size and extended shelf life, are being introduced to address challenges like low biomolecule affinity and cross reactivity.
Further, other components include sample pads, conjugate pads, absorbent pads, and clinical testing applications in veterinary diagnostics, drug development, and sandwich assays. LFA components are also used in agriculture, biowarfare, environmental testing, food microbiology, and other industries. The increased need for point-of-care testing, as well as the growing emphasis on employing lateral flow assay, assay-based POC testing devices to achieve better portability, are projected to drive the growth of the lateral flow assay components market during the forecast period.
The increase in regulations and inconsistency in test results is a major challenge to the global lateral flow assay components market growth. market faces challenges due to inconsistent test results, resistance to change from conventional diagnostic methods, and the emergence of multiplexed assays. However, this market holds potential in various sectors, particularly in the context of the geriatric population and home-based devices for rapid diagnosis of cardiovascular diseases, infectious diseases, pregnancy, HIV, and chronic diseases. LFA components are essential for home-based diagnostics, biomarker detection, drug testing, food safety, animal health, and environmental testing. These components include lateral flow membranes, nitrocellulose membranes, pore size, and various pads such as sample pads, conjugate pads, and absorbent pads.
Despite challenges, the market is driven by the need for portability, low biomolecule affinity, and cross reactivity. Analysis time, saliva diagnostics, and behavioral health are other factors influencing market growth. Applications in clinical testing, veterinary diagnostics, drug development, and sandwich assays further expand the market scope. In various places globally, lateral flow assay-based diagnostics have witnessed limited adoption due to difficult and time-consuming rules and regulation policies, which is expected to further hinder the market growth during the forecast period.
Customer Landscape
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ahlstrom Corp- The company offers lateral flow assay components such as CytoSep single-layer plasma separation media.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 market 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.
Based on technique, the market is segmented into sandwich assays, competitive assays, and multiplex detection assays. The market encompasses technologies used for rapid diagnosis of various conditions, including infectious diseases, cardiovascular diseases, chronic diseases, and pregnancy. These home-based devices cater to the geriatric population and offer portability, making diagnosis more accessible. Lateral Flow Assays (LFAs) Diagnostic technique consist of lateral flow membranes, rapid test kits, and nitrocellulose membranes. Infectious disease testing, women's health, and drug testing are significant applications. Biomarker detection and food safety are other sectors utilizing LFAs. Animal health, agriculture, biowarfare, environmental testing, and food microbiology are additional markets.
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The sandwich assays segment was valued at USD 169.57 million in 2017 and continued to grow by 2021. The sandwich assay technique is a positive test represented by the presence of a coloured line at the test line position. In clinical settings, the sandwich assay is commonly used to test for a variety of antibodies and antigens. LFA components include conjugate pads, absorbent pads, sample pads, and pore size-controlled membranes. Sandwich assays, a type of LFA, employ capture and detection antibodies to bind target antigens, such as HIV or biomarkers, for analysis. Despite their advantages, challenges include low biomolecule affinity, cross reactivity, and pretreatment requirements. Analysis time and saliva diagnostics are ongoing improvements. Behavioural health and clinical testing are emerging applications. LFAs are crucial in drug development and veterinary diagnostics. The wide applications of these assays in clinical testing, as well as the benefits associated with their use, such as higher sensitivity and specificity for larger analytes, are the major factors expected to drive the growth of the segment in the market during the forecast period.
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North America is expected to account for 43% of market growth by 2023. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. market is primarily driven by the healthcare sector, particularly in North America, due to the high prevalence of chronic diseases such as Lyme disease, tuberculosis, HIV, hepatitis, and influenza, among others. In the US alone, there were approximately 16 million influenza infections in 2020, leading to over 380,000 hospitalizations. The availability of advanced diagnostic techniques, including multiplex detection assays, has facilitated rapid antigen testing and ELISA tests, enabling simplified manner diagnosis of various conditions. The food and beverage industry also utilizes LFA components for pathogen detection. Vendors are focusing on the US market to expand their presence, with key diagnostic techniques including cardiac marker testing, tuberculosis testing, and Pregnancy and fertility testing, among others, gaining significance in the veterinary sector as well. Rapid antigen testing is also used for myoglobin testing and fertility testing. Diagnostic techniques for diseases such as syphilis, Chlamydia, gonorrhoea, HPV, and HIV continue to drive market growth.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The market is a significant sector in the diagnostic industry. Homogeneous bases, cards, reagents, substrates, and membranes are the essential components of LFAs. These components play a crucial role in the detection and quantification of various analytes, including proteins, antigens, and nucleic acids. The homogeneous bases provide a stable platform for the assay, while cards serve as a support structure for the membrane and reagents. Reagents, such as conjugates and buffers, facilitate the binding of target molecules to the membrane. Substrates, including chromogens and chemiluminescent reagents, generate a visual signal upon interaction with the target molecules. Membranes, which contain capture and detection lines, are coated with specific antibodies or probes that bind to the target analytes. The LFA components market is driven by the increasing demand for rapid, accurate, and cost-effective diagnostic solutions. The convenience and ease of use of LFAs make them an attractive alternative to traditional laboratory-based methods. Furthermore, the continuous advancements in LFA technology, such as multiplexing and automation, are expected to fuel market growth in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.22% |
Market growth 2023-2027 |
USD 97.76 million |
Market structure |
Fragmented |
YoY growth (%) |
4.41 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Ahlstrom Munksjo, AXIVA SICHEM Pvt. Ltd., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bio Techne Corp., DxDiscovery Inc., F. Hoffmann La Roche Ltd., Geno Technology Inc., Hologic Inc., Merck KGaA, Nupore Filtration System, PerkinElmer Inc., Porex Corp., QIAGEN NV, Quidel Corp., Sartorius AG, Siemens AG, Thermo Fisher Scientific Inc., and Cytodiagnostics Inc. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technique
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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