Global paper diagnostics market forecast
The medical cases of infectious diseases such as hepatitis B, hepatitis C, and HIV is increasing on a global level. Research analysis in the global paper diagnostics market identifies that the increasing prevalence of infectious and lifestyle associated diseases will be one of the major factors that will have a positive impact on the paper diagnostics market size. The analysis of infectious agent requires paper diagnostic test using molecular testing or assays. Paper diagnostic is also widely used to detect urinary infections through urinalysis. The lack of medical infrastructure and low awareness in emerging economies such as Africa, Saudi Arabia, India, and South Korea is driving the incidence of infectious diseases. This, in turn, will boost the application of paper diagnostics for primary testing. According to the paper diagnostics industry analysis, Technavio’s market research analysts predict that this market will grow at a CAGR of close to 7% by 2021.
The rising awareness about the rapid testing of infectious diseases in the emerging markets such as Mexico, Brazil, and Chile is driving the growth prospects for the global paper diagnostics market in the Americas. The adoption of diagnostic paper products for Zika virus, Ebola, and use of nano-biosensors will continue to increase in the region throughout the estimated period due to the presence of sophisticated healthcare infrastructure and high patient awareness.
Competitive landscape and key vendors
The paper diagnostics market is highly competitive due to the presence of major vendors. These vendors are increasingly competing against each other based on factors such as pricing, product differentiation, advances in technology, and a strong distribution channel. They are also entering into partnerships with other vendors.
Key vendors in this market are
- Alere
- Bio-Rad Laboratories
- Siemens Healthcare
Other prominent vendors in the market include Abcam, Abingdon Health, ACON Laboratories, ARKRAY, BBI Solutions, BIOPORTO, Chembio Diagnostic Systems, Cytodiagnostics, DCN Diagnostics, Innova Biosciences, NanoHybrids, SD Biosensor, Sigma-Aldrich (Merck Millipore), and Surmodics.
Segmentation by product and analysis of the paper diagnostics market
- Lateral flow assay kits
- Dipsticks
The rising incidence rate of infectious diseases and lifestyle disorders is driving the demand for paper diagnostic test across the globe. The paper diagnostics market will continue to witness growth in the lateral flow assay kits segment due to the constant changes in the lifestyle of people.
Segmentation by end-user and analysis of the paper diagnostics market
- Hospitals
- Clinical diagnostic laboratories
- Home healthcare
- Academic and research institutes
The growing incidence rate of infectious diseases such as cancer, human immunodeficiency virus (HIV), and lifestyle-associated disorders such as diabetes and pre-diabetes is responsible for the increasing sales of paper diagnostics in hospitals. Based on the paper diagnostics market outlook, this market will continue to grow in the hospital segment for the next four years due to the bulk purchase of diagnostic kits, dipsticks, and other consumables.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global paper diagnostics market?
- What are the key market trends impacting the growth of the global paper diagnostics market?
- What are the challenges to market growth?
- Who are the key vendors in the global paper diagnostics market?
- What are the market opportunities and threats faced by the vendors in the global paper diagnostics market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global paper diagnostics market?
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