Infectious disease segment is anticipated to show significant growth during the forecast period
As per the report, the lateral flow immunoassay based rapid test industry was estimated at $4.72 billion in 2018 and is expected to reach $8.49 billion by 2026, growing at a CAGR of 7.6% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments. Advantages of LFIA based rapid tests over laboratory testing, increase in initiatives of government and nonprofit organizations toward health awareness, and surge in healthcare expenditure all over the world drive the growth of the global lateral flow immunoassay based rapid test market. On the other hand, inadequate reimbursement policies for LFIA based rapid test diagnostics restraint the growth to some extent. However, growth prospects in the developing markets, and rise in prevalence of various chronic and infectious diseases worldwide are estimated to offer ...