Portland, OR, Aug. 19, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global lateral flow assays market was estimated at $8.35 billion in 2020 and is expected to hit $13.35 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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High prevalence of infectious diseases across the globe, rise in usage of home based lateral flow assay kit, and growing demand for point-of-care testing drive the growth of the global lateral flow assays market. On the other hand, lower accuracy of lateral flow assay tests and limited reimbursements for lateral flow assay products impede the growth to some extent. However, evolving applications of lateral flow assays are expected to pave the way for lucrative opportunities in the industry.
- Lateral flow assay-based tests are being used worldwide for diagnosing COVID-19 infections as LFA test kits have demonstrated the potential to detect both symptomatic and asymptomatic COVID-19 infections. This factor has boosted the market growth in more than one way.
- Many healthcare companies are focused on developing lateral flow assay devices that can detect patient…