Lateral Flow Assays Market expected to reach at a CAGR of 4.0% by 2028
Lateral Flow Assays Industry Overview The global lateral flow assays market size was valued at USD 7.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. Lateral Flow Assays (LFAs) have been developed over half a century ago, facilitating diagnosis across several applications, such as healthcare, environmental testing, and food and beverage. The use of LFAs in point of care diagnostic settings has been gaining significant traction in the research community in turn, driving the growth of the market for lateral flow assays. The use of POC devices reduces the need for laboratory testing eliminating the need for trained laboratory personnel and propelling self-testing. Although several technological advancements have been made in the recent past, several emerging economies are still facing the struggle to get timely medical intervention in times of need. This is one of the major factors propelling market growth as dipsticks...