Global Lateral Flow Assay Market Research Report: Forecast (2023-2028)

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4. Market Insights • The Global Lateral Flow Assay Market was valued at USD9.3 billion in 2022 and is projected to grow at a CAGR of around 3.4% during the forecast period, i.e., 2023-28. The market is witnessing significant growth due to the increasing demand for point-of-care testing, expansion of home-based testing applications, and favorable market trends in various regions stemming from the growing prevalence of infectious diseases. • Rising awareness about early disease detection and the development of multiplexed and smartphone-based LFAs are further propelling market expansion. Moreover, technological advancements in lateral flow assays, supported by investments in research and development, have expanded their applications and improved their sensitivity, specificity, and multiplexing increased the reliability of lateral flow assays, driving their adoption in various industries such as healthcare, food safety, and environmental monitoring. Key players in the industry continue to innovate and diversify their product portfolios, fostering market competition and its overall growth. capabilities. These advancements have

5. Market Segmentation of the Industry By Product – (Kits & Reagents, Lateral Flow Readers), By Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing, Drug Development & Quality Testing), By Region (North America, South America, Europe, Middle East and Africa, Asia-Pacific),

6. Competitive Benchmarking Abbott Laboratories, PerkinElmer Inc., Merck KGaA, QIAGEN N.V., Quidel Corporation, Hologic Inc., Thermo Fisher Scientific Inc., bioMerieux SA, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Abcam PLC, Danaher Corporation, P4Q Electronics, Hoffmann-La Roche AG, Siemens Healthineers

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