Authored By: Sarah
22 Feb 2023

Lateral Flow Assay Components Market Size to Grow by USD 97.76 Million at a CAGR of 5.22% Between 2022 and 2027

The lateral flow assay components market share is forecast to reach USD 97.76 million, after growing at a CAGR of 5.22% during 2022-2027. The rising efforts in research and development are analyzed to boost the lateral flow assay components market growth. Moreover, the growing demand for point-of-care (POC) testing is the major trend enhancing the overall market demand for lateral flow assay components during the forecast period.   

Get a snapshot of the lateral flow assay components market analysis: Unlock the Sample Report 

Browse Technavio's 153-page report and in-depth TOC on "Lateral Flow Assay Components Market 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)).

View detailed Table of Contents Here: https://www.technavio.com/report/lateral-flow-assay-components-market-analysis

Lateral Flow Assay Components Market Size to Grow by USD 97.76 Million at a CAGR of 5.22% Between 2022 and 2027

Technique: 

  • Sandwich assays: The market share growth by the sandwich assays segment will be significant during the forecast period.  The wide applications of the 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 sandwich assays segment in the lateral flow assay components market during the forecast period.

  • Competitive assays

  • Multiplex detection assays

Geography: 

  • North America: 43% of market growth will develop from North America during the forecast period. The low cost of lateral flow assay devices is expected to increase the demand for lateral flow assay components and is expected to grow the market in focus across the region during the forecast period.

  • Europe 

  • Asia 

  • Rest of World (ROW) 

End-user: 

  • Medical device manufacturing companies

  • Medical device contract manufacturing companies 

Key Takeaways: 

  • The lateral flow assay components market size will witness a YOY Growth Rate of 4.41% in 2023.  

  • The increase in regulations and inconsistency in test results will be a major challenge for the lateral flow assay components market during the forecast period. 

  • Major key lateral flow assay components market players include 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. 

  • The report illustrates the lifecycle of the market, focusing on the adoption rates of the major regions such as North America, Europe, Asia, and Rest of World (ROW). 

Download the PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth. 

Key data covered in the Lateral Flow Assay Components Market report 

  • Precise market size estimation during the forecast period 2023-2027.  

  • CAGR of the lateral flow assay components market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the lateral flow assay components market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the growth of the lateral flow assay components market.  

  • Lateral flow assay components industry growth across North America, Europe, Asia, and Rest of World (ROW).

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