Lateral Flow Assays Market is expected to reach USD 12.6 billion by 2026 with CAGR of 2.0%
The report "Lateral Flow Assays Market by Application (Clinical Testing (Pregnancy, Infectious Diseases (Mosq...View MoreLateral Flow Assays Market is expected to reach USD 12.6 billion by 2026 with CAGR of 2.0%
The report "Lateral Flow Assays Market by Application (Clinical Testing (Pregnancy, Infectious Diseases (Mosquito, Influenza, STI, Hepatitis, TB) Cardiac Marker Lipid Test) Veterinary, Food Safety) Product (Readers, Kits) Technique, End User - Global Forecast to 2026", is projected to reach USD 12.6 billion by 2026 from USD 11.4 billion in 2021, 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 industry. On the other hand, reluctance among doctors and patients to change existing diagnostic procedures and the low accuracy of lateral flow assays are the key restraints.