Global Lateral Flow Assays Market Growth, Trends & Forecast 2023-2030
Lateral Flow Assays Industry Overview The global lateral flow assays market size is expected to reach USD 13.60 billion by 2030, registering a CAGR of 4.26% over the forecast period, according to a new report by Grand View Research, Inc. Major factors driving the growth include the rising prevalence of infectious diseases, growing government initiatives to curb infectious and chronic diseases, rise in demand for point-of-care testing, and increasing strategic mergers & acquisitions among others. Lateral flow assays were developed about half a century ago and have facilitated several diagnostic and testing applications in domains such as healthcare, food & beverage testing, and environmental testing. Similarly, lateral flow assay applications in point-of-care diagnostics are growing and are propelling significant advancements in research for the development of products that evaluate body fluids, such as urine and saliva. The use of these devices promo...