Lateral Flow Assays Market by Technique (Sandwich Assays, Competitive Assays, and Multiplex Detection Assays), Product (Kits & Reagents and Lateral Flow Readers), Application (Clinical Testing, Veterinary Diagnostics, Food Safety & Environment Testing and Drug Development & Quality Testing), and End User (Hospitals & Clinics, Diagnostic Laboratories, Home Care, Pharmaceutical & Biotechnology Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

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High prevalence of infectious diseases, rise in geriatric population, growth in demand for home-based lateral flow assay test kits, increase in disposable income, and surge in demand for point-of-care testing drive growth of the global lateral flow assay market. Moreover, the recent outbreak of COVID-19 has positively affected growth of the lateral flow assays market. However, stringent and time-consuming regulatory policies for assays performed to detect presence or absence of any analyte and unwillingness of people toward changing existing medical practices restrain the market growth. Advancements in technology and increase in applications of lateral flow assay tests in clinical diagnostics provide lucrative opportunities for the market growth. North America is expected to dominate the overall LFA market throughout the forecast period, owing to rise in incidences of various infectious diseases such as Lyme disease, COVID-19, tuberculosis, and increased mortality rate associated with HIV/AIDS in the region. In North America, the U.S holds the largest market share, owing to increased patient pool and high affordability with increasing disposable income.