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Paper Diagnostics Market size to exceed USD 8 billion by 2023

Paper Diagnostics Market size was valued at around USD 4 billion in 2015 with revenue forecast to exceed USD 8 billion by 2023. Increasing pervasiveness of infectious diseases and lifestyle associated diseases like diabetes coupled with increasing geriatric population base is expected to present lucrative growth opportunities.

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Paper Diagnostics Market size to exceed USD 8 billion by 2023

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  1. Paper Diagnostics Market size to exceed USD 8 billion by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024 Low Power Wide Area Network

  2. 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.

  3. 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 sensing;and 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.

  4. 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.

  5. Browse Full Market Research Report On Paper Diagnostics Market @ https://www.gminsights.com/industry-analysis/paper-diagnostics-market Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/471

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