Lateral Flow Assays Market Insights, Size and Growth Forecast To 2027
The global lateral flow assays market is expected to grow at a CAGR of ~9% from 2020 to reach ~14 billion by 2027. The growth is primarily attributed to prevalence of infectious diseases, growing geriatric population, increasing demand for POC testing and home-based lateral flow assay devices. However, lower accuracy and high margin of error associated with lateral flow assays is expected to hinder the growth of the market. By Product: The lateral flow readers segment to grow at highest CAGR The lateral flow readers provide the quantitative analysis of lateral flow strips. The lateral flow readers are expected to grow at the highest CAGR during the forecast period. The growth can be mainly attributed to high sensitivity and ability to quantify and accurately capture and transmit data. By Technique: Sandwich assays accounted for the largest market share in 2020 Sandwich assays segment accounted for the largest market share of the lateral flow assay m...