Global Paper Diagnostics Market to Witness Sustainable Growth

AnalystView Market Insights has announced the addition of the "Global Paper Diagnostics Market Industry Analysis and Opportunity

Online PR News – 03-April-2019 – Portland, Oregon – 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.

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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.