Lateral Flow Assays Market in terms of revenue was estimated to be worth $20.5 billion in 2022 and is poised to reach $22.6 billion by 2027, growing at a CAGR of 2.0% from 2022 to 2027 according to a new report by MarketsandMarkets™. The increasing demand of lateral flow assays due to increase in prevalence of infectious disease, increasing number of geriatric populations in many countries, and rising use of home-based lateral flow assay devices are the major factors driving the growth of this m...

Lateral flow assays are rapid diagnostic tests used to detect the presence of a specific analyte in a sample. The assay consists of a lateral flow strip that contains reagents that react with the target analyte in the sample. A sample is applied to the strip and allowed to migrate along it. If the analyte is present in the sample, a colored line will appear indicating a positive result. If the analyte is not present, no line will appear indicating a negative result. Lateral flow assays are used ...

The Global Lateral Flow Assays Market is projected to reach USD 12.6 billion by 2026, at a CAGR of 2.0% during the forecast period. The high prevalence of infectious diseases worldwide, rapid growth in the geriatric population, growing demand for point-of-care testing, and rising use of home-based lateral flow assay devices are the major factors driving the growth of this market. On the other hand, reluctance among doctors and patients to change existing diagnostic procedures and the low accurac...