Paper Diagnostics Market Size Worth $8.96 Billion By 2025 | CAGR: 6.8%
Published Date : 10 / 04 / 18 | Report Format: PDF
The global paper diagnostics market is expected to grow at growth rate of 6.8% to reach USD 8.96 billion by 2025.
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.
- 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
KEY BENEFITS OF THE REPORT
- In-depth analysis of the key market dynamics
- Granular analysis of the current market scenario and expected factors to affect the market
- Detailed analysis of the geographic region, regional and county wise analysis
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the market
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Lateral Flow Assays
MARKET, BY DEVICE TYPE
MARKET, BY APPLICATION
- Food quality testing
- Environmental monitoring
- Clinical Diagnostics
MARKET, BY DISEASE TYPE
- Infectious diseases
- Liver Disorders
MARKET, BY END USE
- Research Laboratories
- Home Healthcare
- Hospital Settings
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
We strive to become one of the trusted partner of our client by offering value added services and concrete research data.
Tailor Made Solutions
From single reports and data downloads to enterprise subscriptions to custom consultancy, we can base our precise solutions round our client’s exact needs.
Our analyst aims to provide research studies in quickest turnaround time and in a much cost effective manner.
Data Accuracy And Reliablity
We utilize a mix of primary, secondary research, and machine learning algorithms to generate accurate and comprehensive data about market size and revenue forecasts.
We offer most competitive pricing policy across the research industry
Why Choose Us
We devise research report with quality data:
Combined with an in-depth knowledge of the current industry and a sharp analytical mind, AnalystView serve our customer accurate research in accordance with a constantly evolving industry.
We work with businesses just like yours:
AnalystView committed to making a positive difference for our clients. This means whatever you demand, chances are we already have experience with something similar.