Jan 13, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Paper Diagnostics Market.
It was estimated prior to this unanticipated outbreak that the Paper Diagnostics Market was expected to grow at a CAGR of 7.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Paper diagnostics are defined as devices that are made of paper or cellulosic materials to recognize and quantify chemical agents and biomolecules which affect health. Paper diagnostic products include lateral flow assays, dipsticks, and paper-based microfluidics.
Lateral flow assays are one of the most commonly used product types in various applications including pregnancy tests and diseases such as TB & HIV.
The growth of the global paper diagnostics market is primarily driven by a surge in demand for cost-effective diagnostic methods.
The wide availability and superior properties of paper such as cost-effectiveness, biocompatible, biodegradable, and combustible among others are expected to propel the market growth at a significant rate during the review period.
Growing emphasis on the development of advanced paper diagnostics is expected to create lucrative opportunities for the players operating in the global paper diagnostics market during the review period.
Based on application, the market has been segmented into clinical diagnostics, food quality testing and environmental monitoring.
The clinical diagnostics segment has been further sub-segmented into cancer, infectious diseases, liver disorders and other.
The clinical diagnostics segment is expected to register significant growth during the review period on account of increasing use of paper diagnostics in diagnosis of various ailments including ebola, malaria, and TB among others.
Geographically, the market in North America accounted for the largest market share in 2020 owing to the presence of a strong healthcare industry coupled with high demand for advanced diagnostic solutions.
The market in Asia-Pacific is expected to register the fastest growth during the review period on account of rising product awareness coupled with the prevalence of a high number of people suffering from TB and dengue.
Key players operating in the global Paper Diagnostics market are-
ARKRAY, INC. (Japan),
ACON LABORATORIES, INC. (The U.S),
GVS S.P.A. (Italy),
Bio-Rad Laboratories, Inc. (The U.S),
Abbott Laboratories (The U.S),
Siemens Healthineers AG (Germany),
Diagnostics For All Inc (The U.S),
Navigene, Genetic Science Private (India),
Kenosha C.V. (Netherlands), and
Micro Essential Laboratory Inc (The U.S).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Paper Diagnostics analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors