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Lateral Flow Assay Market - Dynamics, Market Size, And Opportunity Forecast To 2031

Global Lateral flow assay market: By Product & Services (Readers and LFA Kits); Indications (Infectious Diseases, Pregnancy Test, and Drug of Abuse Testing); Technique (Sandwich Assays, Competitive Assays, and Multiplex Detection Assays); End User (Hospitals & Clinics, Diagnostics Laboratories, Home Care Settings, and Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarkets/ Hypermarkets, and E-commerce); and Region—Industry Dynamics, Market Size and Opportunity Forecast for 2031

  • Published On: 15-Feb-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0522239
    Delivery: 2 to 4 Hours
Lateral Flow Assays Market

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Global Lateral Flow Assay Market was valued at US$ 9,535.1 Mn in 2022.

Lateral flow assay is a diagnostic device that is used to confirm the presence or absence of a target analyte, such as pathogens or biomarkers in humans or animals, or contaminants in water supplies, foodstuffs, or animal feeds.

The Global Lateral Flow Assay Market is estimated to expand at a CAGR of 5.3% during 2023-2031.

The market is majorly driven by factors such as the need for rapid diagnostic testing for COVID-19 and the high prevalence of infectious diseases.

The inconsistent results of lateral flow assay tests may hamper the market growth.

Evolving application of lateral flow assays is creating an emerging opportunity in the lateral flow assays market.

The various segmentations considered to analyze the global lateral flow assay market are based on product & services, indications, technique, end-user, distribution channel, and region.

LFA kits hold the highest share in the Global Lateral Flow Assay Market.

Infectious disease indication dominates the market in 2022.

Hospitals are the highest end-users in the market in 2022.

Sandwich assays segment leads the Global Lateral Flow Assay Market in 2022.

The key players in the global lateral flow assay market are Abbott Laboratories (Alere Inc), BioMérieux SA, PerkinElmer Inc, and Hologic Inc., among others.