Global Paper Diagnostics Market to Witness Sustainable Growth: In-depth Industry Analysis

 

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The global market is expected to grow at the growth rate of 6.8% to reach USD 8.96 billion by 2025. The report analyzes the industry in terms of the product, device type, application, disease type, end-use, and geography. This comprehensive study reveals the market estimate numbers for different market segments. Key industry dynamics, regulatory scenario, and strategic benchmarking and thorough competitive landscaping are discussed, spreading over 150 pages.

Traditionally, the paper was widely used in various analytical and bio-analytical methods owing to its low cost and unbiased nature. Nowadays, it has become one of the most attractive substrates for the development of effective sensing platform and low-cost disposable devices. Paper diagnostic technique is developed to conduct a wide range of complex medical diagnostic procedures for chronic disease diagnosis such as cancer, diabetes, and HIV.

Increasing incidence of chronic diseases coupled with the introduction of technologically advanced products spurs the industry growth to great extent. For instance, in March 2015, University of Rhode Island conducted a study to develop a new class of paper-based test strip which capable of handling multiple reagents by combining micro-patterning techniques and innovative paper-based valves. This innovative lab-on-technique will help patients to capture accurate quantitative results. Furthermore, increasing acceptance of paper-based diagnostics method among the patient population is expected to be another factor stimulated the market growth. For example, paper-based lateral flow test strips, such as for pregnancy test kits have been very successful product among pregnant women. On the flip side, low awareness of this technique in developing regions restrain the market growth to some extent.

Key Takeaways
- Lateral flow assay segment capture more than 64% share of the total market and is projected to maintain its dominance over the study period
- Among the different types, diagnostics segment accounted for the highest share which covers pregnancy testing, diabetes, cancer detection etc. The increasing demand for this technique for diagnosis of various chronic diseases has helped this segment to record significant revenue share.
- The end-user segment is categorized into Research Laboratories, Home Healthcare, and Hospital Settings. Hospital segment has recorded the largest share and it appears to be growing at a strong rate.
- North America dominated the global market with 42.67% share in 2017 owing to the rise in prevalence of infectious diseases such as tuberculosis, hepatitis, and HIV. Additionally, availability of various paper-based microfluidics fabrication technologies such as polydimethylsiloxane (PDMS) plotting, photolithography, wax printing, and plasma and inkjet etching supports the growth in North America.
- Companies namely BiognostiX, Alere Inc., Siemens Healthcare, and Bio-Rad Laboratories exhibit their strong presence in this market
- Strategic collaborations are one of the key strategy adopted by established players. For example, In November 2014, Alere entered into an agreement with Optum United Health Group in order to expand and strengthen its market position in the rapid diagnostics business
- Likewise, in December 2013, Diagnostics For All collaborated with Cambridge Consultants to develop a mobile reader for better immunity assessment which has facilitated immunization services to remote areas

The scope of the Report:
- The market, by Product: Dipsticks and Lateral Flow Assays
- The market, by Device Type: Diagnostics and Monitoring
- The market, by Application: Food quality testing, Environmental monitoring and Clinical Diagnostics
- The market, by disease Type: Infectious diseases, Cancer, Liver Disorders and Other
- The market, by End Use: Research Laboratories, Home Healthcare and Hospital Settings
- The market, by Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa and Rest of the World
- The market, by Country: U.S., Canada, Germany, France, India, and China;

Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include an additional 10 profiles of companies):
- BiognostiX
- Alere Inc.
- Siemens Healthcare
- Bio-Rad Laboratories

Our Value Proposition:
- The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
- A thorough analysis of relevant statistical data to estimate the market paradigms
- Exceptional understanding of the region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

Research Methodology:
- Preliminary Data Mining: Secondary Research, Paid Databases, Primary Research
- Data Synthesis & Analysis: Top-Down Approach, Bottom-Up Approach, Supply Side and Demand Side
- Market Formulation: Market Dynamics, Total Addressable Market and Machine Learning Technique
- Data Verification: Quality Assurance and Reach a Conclusion

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Paper Diagnostics Market Share, Paper Diagnostics Market Trend

 

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