Lateral Flow Assay Market Excellent Growth 2021 Top Key Players

 


Lateral Flow Assay are well-established commercial product due to their ability of providing precise, fast, and low-cost result such as for example home-based pregnancy tests. Lateral flow assay technology are rapidly evolved over time and routinely useful for point-of-care and companion diagnostic applications.

Among the major challenges facing the global lateral flow assays market is the limited reimbursements for lateral flow assay products. Owing to reimbursement issues, lateral flow assay-based diagnostic tests have witnessed limited adoption in many countries across the globe. The rise in healthcare expenditure is compelling insurance payers to question and analyze the necessity of new diagnostic tests. Also, payers are moving from fee-for-service reimbursement systems towards fee-for-value-based reimbursement systems. That is among the challenges facing the Lateral Flow Assay Market in the forecast period.

Lateral Flow Assay tests, although easy to do and more economical than laboratory tests, have now been observed to own lower accuracy. As an example, the SARS-CoV-2 antibody tests, based on the lateral flow technology, show a big margin of error. It has generated false negatives, which can make it difficult to track the spread of the coronavirus. Based on Global Health Research and Innovation at Johns Hopkins Medicine, 10–25% of all test results are false negative. The low reliability of lateral flow assay tests has resulted in many clinicians and patients preferring molecular tests over rapid tests for the more accurate diagnosis of COVID-19.


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