Lateral Flow Assay Components Market 2022 Global Analysis by Type, Application, Technique, End User, Region, and Key Players - Danaher Corporation (US), Merck KGaA (Germany), Sartorius Stedim Biotech (Germany), Ahlstrom-Munksjö (Finland)

Lateral Flow Assay Components Market research report delivers a systematic and comprehensive market research study, along with the facts and figures associated with any subject in the field of marketing. This report has a lot of features to offer about the Medical Devices industry such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis. These and such other parameters help to take the business towards the escalation and success. Lateral Flow Assay Components Market report has been framed with the most excellent and superior tools of collecting, recording, estimating and analyzing market data.

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The prominent players in this market include Danaher Corporation (Cytiva Life Science and Pall Corporation) (US), Merck KGaA (Germany), Sartorius Stedim Biotech (Germany), Ahlstrom-Munksjö (Finland), Advanced Microdevice Pvt. Ltd. (India), Hangzhou Cobetter Filtration System Co., Ltd. (China), Axiva-Axiflow Group (India), Nupore Filtration (India), DCN Diagnostics (US), and Ballya Bio (China).

Lateral Flow Assay Components Market report is an accurate study of the Medical Devices industry which gives estimations about new triumphs that will be made in the Lateral Flow Assay Components Market in 2022-2027. It also explains what the market definition, classifications, applications, engagements, and global industry trends are. In this global marketing report, all the company profiles of the major players and brands are covered extensively. The report exhibits important product developments and tracks recent acquisitions, mergers, and research in the Medical Devices industry by the key players. The market drivers and restraints have been described thoroughly using SWOT analysis.

The global lateral flow assay components market is projected to reach USD 420 million by 2027 from USD 339 million in 2022, at a CAGR of 4.3% during the forecast period.

The high prevalence of infectious diseases worldwide, rapid growth in the geriatric population, the growing demand for point-of-care testing, the increased demand for lateral flow assay components due to COVID-19, and the rising use of home-based lateral flow assay devices are the major factors driving the growth of the lateral flow assay components market.

"Membranes segment accounted for the largest share in the lateral flow assay components market."

Based on type, the lateral flow assay components market is segmented into membranes, pads, and others. In 2021, membranes accounted for the largest share of 58.8% of the global lateral flow assay components market. This segment is projected to reach USD 245.6 million by 2027 from 198.8 million in 2022, at a CAGR of 4.3% during the forecast period. The large share of this segment can be attributed to the increasing applications of lateral flow assay kits & reagents for POC testing, the growing burden of chronic diseases, the increasing use of lateral flow assay kits in home care settings, and their convenience and ease of use.

The lateral flow assay membranes market is further bifurcated into nitrocellulose and other membranes. In 2021, the nitrocellulose membranes segment accounted for the largest share of 98.3% of the global lateral flow assay membranes market. Nitrocellulose membranes are mainly used to make lateral flow immunoassays.

The lateral flow assay pads market is further bifurcated into sample pads, conjugate pads, and absorbent pads. In 2021, the sample pads segment accounted for 56.4% of the lateral flow assay pads market.

"Clinical Testing segment is expected to witness the fastest growth in the forecast period."

Based on applications, the lateral flow assay components market is segmented into clinical testing, veterinary diagnostics, food safety & environmental testing, and drug development & quality testing. The clinical testing segment accounted for the largest share of 94.5% of the lateral flow assay components market in 2021. The large share of this segment can be attributed to the rising prevalence of chronic diseases, the growing pressure to reduce healthcare costs, and the increasing demand for patient-centric care.

"Sandwich assays technique accounted for the largest share of lateral flow assay components market in 2021"

Based on techniques, the lateral flow assay components market is segmented into competitive assays, sandwich assays, and multiplex detection assays. Sandwich assays dominated the lateral flow assay components market in 2021, with a share of 80.9%. The large share of this segment can be attributed to its better assay sensitivity and specificity as well as its extensive applications in the measurement of critical analytes (such as cardiac and hepatitis markers).

"The medical device manufacturing company accounted for the largest share of lateral flow assays components market in 2021"

Based on end users, the lateral flow assay components market is segmented into medical device manufacturing companies and medical device contract manufacturing companies. Medical device manufacturing companies accounted for the largest market share of 69.3% of the lateral flow assay components market in 2021. The COVID-19 pandemic has also increased the demand for point-of-care testing in professional healthcare settings, which increases the demand for lateral flow assay components among medical device manufacturing companies.

"North America accounted for the largest share of the lateral flow assay components market in 2021"

In 2021, North America accounted for the largest share of 49.4% of the lateral flow assay components market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. However, the APAC region is expected to grow at the highest CAGR of 7.1% during the forecast period. The rapidly developing raw material industry in China and India, the growing number of local manufacturers for lateral flow assay components, increasing investments in the region by key market players, the availability of low-cost labor for manufacturing, and the presence of a favorable regulatory environment are the key factors driving market growth in the APAC. The current COVID-19 scenario and its high impact in the Asia Pacific region (especially India) have also resulted in a high growth rate in the lateral flow assay components market in this region.

A breakdown of the primary participants (supply-side) for the lateral flow assay components market referred to for this report is provided below:

By Company Type: Tier 1-35%, Tier 2-20%, and Tier 3-45%
By Designation: C-level-45%, Director Level-25%, and Others-30%
By Region: North America-36%, Europe-26%, Asia Pacific-21%, Latin America- 10%, and Middle East and Africa- 7%

Research Coverage:

The market study covers the lateral flow assay components market across various segments. It aims at estimating the market size and the growth potential of this market across different segments by type, application, by technique, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the lateral flow assay components market and its segments. This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies. The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Category-Wise Inclusions And Exclusions In The Lateral Flow Assay Components Market
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Lateral Flow Assay Components Market Segmentation
1.3.2 Years Considered For The Study
1.4 Currency
Table 1 Exchange Rates Utilized For Conversion To Usd
1.5 Stakeholders

2 Research Methodology
2.1 Research Approach
Figure 2 Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Breakdown Of Primaries
Figure 3 Breakdown Of Primary Interviews (Supply Side): By Company Type, Designation, And Region
Figure 4 Breakdown Of Primary Interviews (Demand Side): By End User, Designation, And Region
2.2 Market Size Estimation
Figure 5 Market Size Estimation: Revenue Share Analysis (2021)
Figure 6 Supply-Side Analysis: Lateral Flow Assay Components Market (2021)
2.3 Market Breakdown & Data Triangulation
Figure 7 Data Triangulation Methodology
2.4 Key Industry Insights
2.5 Limitations
2.5.1 Methodology-Related Limitations
2.6 Risk Assessment
2.7 Assumptions For The Study

3 Executive Summary
Figure 8 Lateral Flow Assay Components Market, By Type, 2022 Vs. 2027 (Usd Million)
Figure 9 Lateral Flow Assay Components Market, By Technique, 2022 Vs. 2027 (Usd Million)
Figure 10 Lateral Flow Assay Components Market, By Application, 2022 Vs. 2027 (Usd Million)
Figure 11 Lateral Flow Assay Components Market, By End User, 2022 Vs. 2027 (Usd Million)
Figure 12 Geographical Snapshot Of The Lateral Flow Assay Components Market

4 Premium Insights
4.1 Lateral Flow Assay Components Market Overview
Figure 13 Rising Number Of Local Manufacturers For Components Is Driving The Growth Of The Lateral Flow Assay Components Market
4.2 Regional Mix: Lateral Flow Assay Components Market
Figure 14 Apac To Register The Highest Cagr During The Forecast Period
4.3 Asia Pacific: Lateral Flow Assay Components Market, By Type And Country
Figure 15 Membranes Accounted For The Largest Share Of The Asia Pacific Market In 2021
4.4 Lateral Flow Assay Components Market: Geographical Growth Opportunities
4.5 Lateral Flow Assay Components Market: Developed Vs. Developing Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Impact Analysis
5.2.1 Drivers
5.2.1.1 Growing Demand For Lateral Flow Assay Kits Due To The Covid-19 Pandemic
5.2.1.2 Growing Usage Of Home-Based Lateral Flow Assay Devices
5.2.1.3 Growing Demand For Point-Of-Care Testing
5.2.1.4 Increasing Public-Private Investments To Develop Lateral Flow Assays
5.2.2 Restraints
5.2.2.1 Availability Of Alternative Diagnostic Technologies
5.2.3 Opportunities
5.2.3.1 Evolving Applications Of Lateral Flow Assays
5.2.4 Challenges
5.2.4.1 Requirement Of Specialized Storage And Shipping Facilities For Membranes
5.3 Assessment Of The Impact Of Covid-19 On The Economic Scenario In The Lateral Flow Assay Components Market
5.4 Trends/Disruptions Impacting Customers' Businesses (Yc-Ycc) In The Lateral Flow Assay Components Market
Figure 16 Yc-Ycc Shift In The Lateral Flow Assay Components Market
5.5 Average Selling Price Trend
Table 2 Average Selling Price Of Lateral Flow Assay Components, By Region, 2021 (Usd)
5.6 Ecosystem Market Map
Figure 17 Ecosystem: Lateral Flow Assay Components Market (2021)
5.7 Patent Analysis
5.7.1 Patent Publication Trends For Lateral Flow Assays
Figure 18 Global Patent Publication Trends In The Lateral Flow Assay Components Market, 2016-2021
5.7.2 Jurisdiction Analysis: Top Applicants (Countries) For Patents In The Lateral Flow Assay Components Market
Figure 19 Jurisdiction Analysis: Top Applicant Countries For Lateral Flow Assays Components, 2016-2021
5.8 Value Chain Analysis
5.9 Regulatory Landscape
Table 3 Regulatory Standards/Approvals Required For Lateral Flow Immunoassay Products, By Country/Region
5.9.1 North America
5.9.2 Europe
5.9.3 Asia Pacific
5.9.3.1 India
5.9.3.2 China
5.9.3.3 Japan
5.10 Technology Analysis
5.10.1 Key Technology: Lateral Flow Assays
5.11 Key Conferences & Events During 2021-2023
Table 4 Lateral Flow Assay Components Market: Detailed List Of Conferences & Events
5.12 Key Stakeholders & Buying Criteria
5.12.1 Key Stakeholders In The Buying Process
Figure 20 Influence Of Stakeholders In The Buying Process For The Top 3 Applications
Table 5 Influence Of Stakeholders In The Buying Process For The Top 3 Applications
5.12.2 Buying Criteria
Figure 21 Key Buying Criteria For The Top 3 Applications
Table 6 Key Buying Criteria For The Top 3 Applications
5.13 Porter's Five Forces Analysis
Table 7 Lateral Flow Assay Components Market: Porter's Five Forces Analysis
5.13.1 Threat From New Entrants
5.13.2 Threat From Substitutes
5.13.3 Bargaining Power Of Buyers
5.13.4 Bargaining Power Of Suppliers
5.13.5 Intensity Of Competitive Rivalry

6 Lateral Flow Assay Components Market, By Type
6.1 Introduction
Table 8 Lateral Flow Assay Components Market, By Type, 2020-2027 (Usd Million)
6.2 Membranes
Table 9 Lateral Flow Assay Components Market, By Membrane Type, 2020-2027 (Usd Million)
Table 10 Lateral Flow Assay Components Market For Membranes, By Country, 2020-2027 (Usd Million)
6.2.1 Nitrocellulose Membranes
6.2.1.1 Advantages Of Nitrocellulose Membranes Such As High Protein-Binding Affinity And Compatibility With A Wide Range Of Detection Methods To Drive Market Growth
Table 11 Lateral Flow Assay Components Market For Nitrocellulose Membranes, By Country, 2020-2027 (Usd Million)
Table 12 Lateral Flow Assay Components Market For Nitrocellulose Membranes (1 X 1 M Sheets), By Region, 2020-2027 (In Thousands)
Table 13 Lateral Flow Assay Components Market For Nitrocellulose Membranes (20 Mm X 1 M Rolls), By Region, 2020-2027 (In Millions)
6.2.2 Other Membranes
Table 14 Lateral Flow Assay Components Market For Other Membranes, By Country, 2020-2027 (Usd Million)
6.3 Pads
Table 15 Examples Of Different Materials Used In Manufacturing Lateral Flow Assay Pads
Table 16 Lateral Flow Assay Components Market, By Pad Type, 2020-2027 (Usd Million)
Table 17 Lateral Flow Assay Components Market For Pads, By Country, 2020-2027 (Usd Million)
6.3.1 Sample Pads
6.3.1.1 Ability To Promote Even And Controlled Distribution Of Samples To Drive Market Growth
Table 18 Lateral Flow Assay Components Market For Sample Pads, By Country, 2020-2027 (Usd Million)
6.3.2 Conjugate Pads
6.3.2.1 Conjugate Pads Play An Important Role In Controlling The Performance Of Lateral Flow Immunoassays
Table 19 Lateral Flow Assay Components Market For Conjugate Pads, By Country, 2020-2027 (Usd Million)
6.3.3 Absorbent Pads
6.3.3.1 Absorbent Pads Prevent Backflow-A Key Factor Driving Market Growth
Table 20 Lateral Flow Assay Components Market For Absorbent Pads, By Country, 2020-2027 (Usd Million)
6.4 Other Components
Table 21 Other Lateral Flow Assay Components Market, By Country, 2020-2027 (Usd Million)

7 Lateral Flow Assay Components Market, By Application
7.1 Introduction
Table 22 Lateral Flow Assay Components Market, By Application, 2020-2027 (Usd Million)
7.2 Clinical Testing
Table 23 Lateral Flow Assay Components Market For Clinical Testing Applications, By Type, 2020-2027 (Usd Million)
Table 24 Lateral Flow Assays Market For Clinical Testing Applications, By Country, 2020-2027 (Usd Million)
7.2.1 Infectious Disease Testing
7.2.1.1 Rising Demand For Infectious Disease Testing In Emerging Markets To Drive Market Growth
Table 25 Lateral Flow Assay Components Market For Infectious Disease Testing, By Country, 2020-2027 (Usd Million)
7.2.2 Pregnancy & Fertility Testing
7.2.2.1 Growing Infertility Levels Due To Changing Lifestyles-A Key Factor Driving Market Growth
Table 26 Lateral Flow Assay Components Market For Pregnancy & Fertility Testing, By Country, 2020-2027 (Usd Million)
7.2.3 Cardiac Marker Testing
7.2.3.1 Rising Prevalence Of Cardiovascular Diseases And Growing Government Support To Drive Growth In This Market Segment
Table 27 Lateral Flow Assay Components Market For Cardiac Marker Testing, By Country, 2020-2027 (Usd Million)
7.2.4 Cholesterol Testing/Lipid Profiling
7.2.4.1 Growing Prevalence Of Obesity And Cvd- A Key Factor Driving Market Growth
Table 28 Lateral Flow Assay Components Market For Cholesterol Testing/Lipid Profiling, By Country, 2020-2027 (Usd Million)
7.2.5 Drugs-Of-Abuse Testing
7.2.5.1 Technological Advancements And A Growing Focus On Workplace Drug Testing Are Driving Market Growth
Table 29 Lateral Flow Assay Components Market For Drugs-Of-Abuse Testing, By Country, 2020-2027 (Usd Million)
7.2.6 Other Clinical Testing Applications
Table 30 Lateral Flow Assay Components Market For Other Clinical Testing Applications, By Country, 2020-2027 (Usd Million)
7.3 Veterinary Diagnostics
7.3.1 Infectious Disease Outbreaks (Particularly In Large Livestock Animals) To Drive Market Growth
Table 31 Lateral Flow Assay Components Market For Veterinary Diagnostic Applications, By Country, 2020-2027 (Usd Million)
7.4 Food Safety & Environmental Testing
7.4.1 High Sensitivity And Ease Of Use Are Key Factors Driving The Demand For Lateral Flow Assays For Food Safety Testing
Table 32 Lateral Flow Assay Components Market For Food Safety & Environmental Testing Applications, By Country, 2020-2027 (Usd Million)
7.5 Drug Development & Quality Testing
7.5.1 Increasing Focus On Product Safety And Quality Assurance To Drive Market Growth In The Coming Years
Table 33 Lateral Flow Assay Components Market For Drug Development & Quality Testing Applications, By Country, 2020-2027 (Usd Million)

8 Lateral Flow Assay Components Market, By Technique
8.1 Introduction
Table 34 Lateral Flow Assay Components Market, By Technique, 2020-2027 (Usd Million)
8.2 Sandwich Assays
8.2.1 Sandwich Assays Provide Higher Levels Of Assay Sensitivity And Specificity Than Other Assay Techniques-A Key Factor Driving Growth In This Market Segment
Table 35 Lateral Flow Assay Components Market For Sandwich Assays, By Country, 2020-2027 (Usd Million)
8.3 Competitive Assays
8.3.1 Reduced Selectivity And Sensitivity Of Competitive Assays In Relation To Sandwich Assays Could Hamper Market Growth
Table 36 Lateral Flow Assay Components Market For Competitive Assays, By Country, 2020-2027 (Usd Million)
8.4 Multiplex Detection Assays
8.4.1 Increasing Adoption Of Multi-Analyte Assays Among Clinicians To Drive Market Growth
Table 37 Lateral Flow Assay Components Market For Multiplex Detection Assays, By Country, 2020-2027 (Usd Million)

9 Lateral Flow Assay Components Market, By End User

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