In the area of on-site diagnostics, this lateral flow assay (LFA) refers to a well-established line of commercial product, which is known for its ability to provide low-cost, fast, and precise outcome. Home-based pregnancy test is one such example of lateral flow assay. This technology is rapidly evolving over the years and is utilized regularly for companion and point-of-care diagnostic applications. In addition, technological advancement made changes the assays from simple qualitative tests into complicated multi-analyte quantitative assay, which is likely to pave way for rapid growth of the global lateral flow assay market in the years to come.
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In addition to that, this technology is finding growing utilization in several medical diagnostics along with increased incidences of infectious diseases is estimated to augur well for the market. A rise in the adoption of home-based lateral flow assay test and demand for point-of-care testing is estimated to drive the demand for these tests.
Multiple Benefits of the Testing System is Likely to Accentuate its Demand in the Market
The global lateral flow assay market is likely to observe considerable growth in the years to come. Such growth of the market is ascribed to the ability to provide outcome in around 5 to 15 minutes and increasing incidences of infectious diseases. A surge in the demand for point-of-care testing in comfortable homecare settings along with hassle-free use is likely to drive the demand for lateral flow assay in the years to come.
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Home pregnancy test is an ideal instance of flow assay technology that is capable of detecting the presence of pregnancy-induced hormone and it displays a binary result. In addition, various benefits of such tests, such as immediate results, low cost of production, and portability of the device is likely to foster growth of the global lateral flow assay market in the years to come.