According to the research report titled ‘Lateral Flow Assays Market Size By Product (Kits, Readers), By Application (Infectious Disease Testing {Influenza, STDs, Hepatitis, Tuberculosis}, Cardiac Metabolic Testing {CK-MB Testing, Myoglobin, D-dimer}, Pregnancy & Fertility Testing {Pregnancy Testing, Fertility Testing}, Cholesterol Testing, Drug of Abuse), By Technique (Sandwich Assays, Competitive Assays, Multiplex Detection Assays), By End-use (Hospital & Clinics, Diagnostic Laboratories, Homecare Settings), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, worldwide lateral flow assays market is anticipated to garner massive returns by the end of 2027.
 

Rising demand for diagnostic testing owing to sudden outbreak of Covid-19 pandemic, and substantial technical improvements in the field are the major growth inducing factors for lateral flow assays market.
 

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For the unversed, lateral flow assays (LFA) are low-cost, paper-based devices that detect the presence (or absence) of a target analyte in a liquid sample without the use of specialist equipment. These tests are commonly used in medical diagnostics, either for point of care testing or at home testing, or in laboratories.
 

Furthermore, profitable strategies made by industry players to fulfill the soaring demand for infectious disease testing due to the pandemic is facilitating the industry scenario.
 

Based on product terrain, the readers segment accounted for USD 1.6 billion in 2020 and is predicted to witness steady growth during the forecast period.
 

In terms of application spectrum of lateral flow assays market, the drug of abuse testing segment is poised to register a CAGR of 6.6% over the assessment period.
 

On the basis of technique, the competitive assays sub-segment held 33.4% market share in 2020 and is slated to garner notable returns during the analysis timeframe.
 

Speaking of end-user ambit, the homecare settings division is anticipated to exceed a valuation of USD 3.6 billion by the end of 2027.
 

Considering the regional perspective, Latin America industry held around 5.1% revenue share in 2020 and is expected to showcase remunerative growth during 2021-2027. Whereas, Middle East & Africa market is likely to gain traction at around 5.4% CAGR during the forecast timeline.
 

The key players in lateral flow assays marketplace are Quidel Corporation, Operon S.A., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Hologic, Inc., bioMérieux S.A., Shenzhen Bioeasy Biotechnology Co. Ltd., Bio-Rad Laboratories, Inc., Abbott Laboratories, and Abingdon Health.