Paper Diagnostics Market size to exceed USD 8 billion by 2023

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Paper Diagnostics Market size to exceed USD 8
billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Paper Diagnostics Market

• Regionally, North America led the global industry
  in 2015 with over 30 of the revenue owing to
  rising occurrence of diseases such as hepatitis,
  cancer, HIV, as well as high awareness and
  government initiatives.
• Based on the product, industry is segregated into
  lateral flow assays and dipsticks. Lateral flow
  assays accounted for the largest paper
  diagnostics market share of approximately 60 in
  2015, due to extensive use in pregnancy tests
  worldwide.
• Asia Pacific paper diagnostics market size is
  anticipated to show significant development over
  the forecast period due to growing acceptance of
  home healthcare, high prevalence of infectious
  diseases, high population growth rate, and the
  existence of untouched opportunities for new
  companies.

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Application Analysis of Paper Diagnostics Market

• Paper based diagnostics market share dominated
  the global clinical diagnostics industry with
  over 40 of the overall revenue due to high
  occurrence of infectious diseases, liver
  disorders and cancer.
• This technique is also used in food quality
  testing due to low-resource settings and rapid
  bacterial detection. Increasing environmental
  pollution and need to detect possible pollutants
  are expected to drive demand over the forecast
  timeframe.
• The presence of diseases that require
  self-monitoring, for instance in diabetes
  mellitus,and other tests such aspregnancy test,
  pH test, oxygen sensingand rising demand for
  cost effective devices made by technological
  advancements are the other major factors for
  paper diagnostics market growth.
• Other benefits include less complexity, increased
  cost-efficiency, and rapid results which are also
  responsible for increasing revenue.

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Competitive Market Share of Paper Diagnostics
Market

• Key participants in the industry are Siemens
  Healthcare, Diagnostics For All, Bio-Rad
  Laboratories, BiognostiX, Kenosha C.V, Navigate
  Genetic Science, Alere, Micro Essential
  Laboratory, and GVS Filter Technology. The market
  is characterized by intense competition, and
  companies are thereby entering into
  collaborations, and merger and acquisitions.
• In 2014, Siemens Healthcare collaborated with
  Beckman Coulter for expanding its diagnostics
  sector. Likewise, Alere collaborated with Optum
  UnitedHealth Group in order for the former to
  strengthen its position in the field of rapid
  diagnostics.

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