Global Paper Diagnostics Market Generate Revenue of USD 10.50 billion at CAGR of 8.0% during the forecast period 2018-2025
MAY 15, 2019: The global paper diagnostics market size is estimated to reach USD 10.50 billion by 2025, according to a new report by Radiant Insights, Inc, rising at a CAGR of 8.0% during the forecast period. Increasing prevalence of diseases such as cancer, autoimmune diseases, and inflammatory diseases is one of the key factors expected to fuel the demand for novel and rapid diagnostics techniques, thereby driving the market during the forecast period. For instance, as per the American Cancer Society, in 2018, around 1.7 million new cancer cases are likely to be diagnosed and 609,640 individuals are poised to die due to cancer. The number of cancer cases is projected to rise by around 70.0% over the next two decades. This trend is anticipated to help the market gain momentum during the forecast period.
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Rising R&D investments, technological advancements, and new product launches are the key growth strategies incorporated by companies to cater to rising needs. ARKRAY Inc.; Acon Laboratories, Inc.;Abbott; Bio-Rad Laboratories; Siemens healthcare; Abcam Plc; and Abingdon Health are some of the players focusing on new product development by rising R&D investments. For instance, in March 2017, ARKRAY Inc. launched saliva testing system, capable of measuring cariogenic bacteria, acidity & buffer capacity, occult blood, leukocyte & proteins, and ammonia from saliva. Moreover, in May 2017, ACON Laboratories, Inc. received U.S. FDA approval for its “Mission Urine Reagent Strips” for detection of Microalbumin and Creatinine.
Further key findings from the report suggest:
• Introduction of technologically advanced paper based diagnostic products, which offer sensitive and rapid results, is estimated to boost market growth over the forecast period
• Development of paper-based ELISA for detection of autoimmune antibodies in body fluid is expected to bolster the demand for technologically advanced & upgraded lateral flow assays over the forecast period
• Lateral flow assays held a significant share in the market in 2017, owing to wide application in disease diagnostics and associated advantages such as robust & rapid results, sensitivity, ease of use, and cost efficiency
• Paper based diagnostic devices are widely used as point-of-care diagnostics. Increasing inclination towards these devices can be attributed to advent of wax patterning technology, facilitating greater flexibility and adaptability
• In terms of application, the clinical diagnostics segment is likely to witness lucrative growth during the same period. Rising awareness regarding their benefits such as improved control and rapid results and growth prospects in area of nanomaterial & biomolecules are contributing to the growth of the segment
• In 2017, North America was the most prominent regional market, owing to surging demand for self-testing devices coupled with well-established healthcare infrastructure
• Market leaders are involved in R&D activities to develop accurate, cost efficient, and sensitive paper based microfluidics. Focus on mergers and acquisitions, consistent system upgradation through R&D investments and fund raising are some of the key strategies adopted by players.
Table of Contents
Chapter 1 Report Scope
1.1 Segment Market Scope
1.2 Regional Scope
1.3 Estimates & Forecast Timeline
Chapter 2 Research Methodology
2.1 Model Details
2.1.1 Regression And Variable Analysis
2.1.2 Total Addressable Market (TAM)
2.2 Information Procurement
2.3 List Of Primary Sources
2.3.1 Purchased Database:
2.3.2 GVR’s Internal Database
2.4 Primary Interview Breakup
2.4.1 Data For Primary Interviews, By Sources
2.4.2 Data For Primary Interviews, By Region
2.5 List Of Secondary Sources
Chapter 3 Report Objectives
3.1 Objectives
Chapter 4 Executive Summary
4.1 Market Summary
Chapter 5 Paper diagnostics market: Industry Outlook
5.1 Market Variable Analysis
5.2 Market Driver Analysis
5.2.1 Rising Incidence Of Infectious Diseases And Cancer
5.2.2 Rising Demand For Point-Of-Care And In-Vitro Diagnostics
5.2.3 Introduction Of Technologically Advanced Paper Diagnostics Technologies
5.3 Market Restraints Analysis
5.3.1 Limited Quantitative Application
5.3.2 Lack Of Specific Regulatory Framework
5.4 Business Environment Analysis Tools
5.4.1 Paper Diagnostics Market – Swot Analysis, By Factor (Political & Legal, Economic And Technological)
5.4.2 Porter’s Five Forces Analysis
Chapter 6 Competitive & Vendor Landscape
6.1 Market Participation Categorization
Chapter 7 Paper Diagnostics Market: Product Analysis
7.1 Product Business Analysis
7.2 Dipsticks
7.2.1 Dipsticks Market Estimates And Forecasts, 2014 – 2025 (USD Million)
7.3 Lateral Flow Assays
7.3.1 Lateral Flow Assays Market Estimates And Forecasts, 2014 – 2025 (USD Million)
7.4 Paper Based Microfluidics Devices
7.4.1 Paper-Based Microfluidics Devices Market Estimates And Forecasts, 2014 – 2025 (USD Million)
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For more information, Visit: http://www.radiantinsights.com
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com
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