Astute Analytica publishes a research report on the Lateral Flow Assay Market. The analysis report contains in-depth data about demand, growth, opportunities, challenges, and restraints. In addition, it provides a thorough examination of the structure and possibility of global and regional industries. 

The Lateral Flow Assay Market, analyzed by Astute Analytica, was valued at US$ 9,165.7 Million in 2021 and is estimated to reach US$ 14,128.7 Million by 2030. The market is recording a CAGR of 5% over the forecast period 2022-2030.

The global market study includes information from key firms on R&D, new product launches, and product responses from global markets. The analysis includes a graphical presentation and a diagrammatic examination of the global market by region.

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People and economies globally rely substantially on the healthcare business. It is one of the fastest-growing industries. There is a correlation between income levels and healthcare spending in different nations, with healthcare spending accounting for more than 10% of most industrialized countries’ GDP.

Impact Analysis of COVID-19

Global COVID-19 cases have climbed above 516 million as of May 2022, and the death toll has exceeded 6.25 million. COVID-19 has disproportionately impacted specific racial and ethnic minority groups, as well as underserved and marginalized communities, highlighting the persistent challenges of health equity and health outcomes.

COVID-19 is causing a great deal of emotional, physical, and professional stress among health care personnel. The changing attitudes and behaviours of consumers, the integration of life sciences and health care, fast-growing digital health technology, new talent, and care delivery models, and clinical innovation advanced by COVID-19.

As sector players and the customers, they serve to adapt to a new world of remote working, virtual doctor visits, and a supply chain plagued by shortages of medical goods, employees, and services, the sector is reforming to become more customer-centric.

The Centres for Medicare and Medicaid Services data calculates that the U.S. national healthcare expenditure reached US$ 4.1 trillion in 2020 and is forecast to surpass US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. spent nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, spending 12.2%. In addition, New Zealand and Australia dedicate only 9.3%.

Regional Analysis

By Product & Services segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         Readers

·         Bench-top Readers

·         Hand-held Readers

·         LFA Kits

·         Test Strips

·         Dipsticks

·         Cassettes

·         Lancets

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By Indications segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         Infectious Diseases

·         Mosquito-borne Diseases

·         Streptococcus Infections

·         Sexually Transmitted Diseases

·         Hepatitis

·         Tuberculosis

·         Asthma

·         Pneumonia

·         Sepsis

·         Gastrointestinal Infections

·         Others

·         Pregnancy Test

·         Drug of Abuse Testing

By Technique segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         Sandwich Assays

·         Competitive Assays

·         Multiplex Detection Assays

By End User segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         Hospitals & Clinics

·         Diagnostics Laboratories

·         Home Care Settings

·         Pharmaceuticals & Biotechnology Companies

·         Other

By Distribution Channel segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         Hospital Pharmacies

·         Retail Pharmacies

·         Supermarkets/ Hypermarkets

·         e-Commerce

By Region segment of the Global Lateral Flow Assays Market is sub-segmented into: 

·         North America

·         The U.S.

·         Canada

·         Mexico

·         Europe

·         Western Europe

·         The UK

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Western Europe

·         Eastern Europe

·         Poland

·         Russia

·         Rest of Eastern Europe

·         Asia Pacific

·         China

·         India

·         Japan

·         Australia & New Zealand

·         ASEAN

·         Rest of Asia Pacific

·         Middle East & Africa (MEA)

·         UAE

·         Saudi Arabia

·         South Africa

·         Rest of MEA

·         South America

·         Argentina