With a CAGR of 4.1%, Lateral Flow Assay Components Market Size Worth USD 490.8 Billion in 2030
The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
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 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 product design of lateral flow assay components, and increasing prevalence of infectious diseases globally are some of the key factors driving market growth of the market.
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As well as new entrants in the Lateral Flow Assay Components market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies in the global market report include Merck KGaA, Danaher Corporation, Sartorius Stedim Biotech, Abbott., Advanced Microdevice Pvt. Ltd., Ahlstrom-Munksjö., Nupore Filtration, DCN Diagnostics., Ballya Bio., and PerkinElmer Inc.
One of the report’s central components is the broad Lateral Flow Assay Components market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in 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.
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The global Lateral Flow Assay Components market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Lateral Flow Assay Components sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global lateral flow assay components market based on product, application, and region:
- Product Type Outlook (Revenue, USD Million; 2019-2030)
- Lateral Flow Test Strips & Readers
- 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
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Medical Device Manufacturing Companies
- Medical Device Contract Manufacturing Companies
Regional Bifurcation of the Lateral Flow Assay Components Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Radical Features of the Lateral Flow Assay Components Market Report:
- The report encompasses Lateral Flow Assay Components market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Lateral Flow Assay Components industry
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