The Future of Paper Diagnostics….. COVID-19 & Its Impact….


The global paper diagnostics market size is estimated to reach USD 10.50 billion by 2025, according to a new report by Grand View Research, 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.
Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.
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.
Key established players include ARKRAY Inc.; Acon Laboratories, Inc.; Abbott; Bio-Rad Laboratories; and Siemens healthcare Gmbh. High R&D investments to deliver novel product portfolio are one of the key strategies adopted by these players to capture shares. For instance, Abbott invested around USD 2.24 billion in FY 2017 for research and developmental activities. The company has HIV Combo Fingerstick, SD BIOLINE HAT 2.0, and Malaria Ag.P.F. Test products under its product portfolio serving the market. 
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https://www.grandviewresearch.com/industry-analysis/paper-diagnostics-market/request/rs1
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.
The global paper diagnostics market size was estimated at USD 5.69 billion in 2017. It is poised to witness a CAGR of 8.0% during the forecast period. Increasing need for cost-effective healthcare in remote areas of developing countries is leading to rising popularity of point-of-care diagnostic methods in these countries. Moreover, in developed countries, heightened adoption of point-of-care diabetes test kits and pregnancy test kits is projected to work in favor of the market.
Furthermore, changing lifestyle habits, including smoking and unhealthy diet coupled with increased incidence of obesity, is anticipated to lead to an increase in the prevalence of lifestyle-associated diseases, such as diabetes and cardiac diseases, worldwide. For instance, as per a study conducted by the International Diabetes Federation (IDF), in 2017, around 3.27 million cases of diabetes were diagnosed in France. Growing cases are likely to lead to development of diabetic paper diagnostic test kits in near future, thereby  driving the market.
Rising focus of established players in Japan towards developing technologically advanced paper diagnostics, increasing healthcare initiatives, and clinical development frameworks of emerging economies are poised to create ample growth opportunities for the market in APAC. Rising incidence of hospital acquired urinary tract infections in India is prompting hospitals and doctors to focus on delivery of proper care and incorporation of diagnostic techniques.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-paper-diagnostics-market
Grand View Research has segmented the global paper diagnostics market on the basis of product, devices type, application, end-use, and region:
Paper Diagnostics Product Outlook (Revenue, USD Million, 2014 - 2025)
·         Lateral Flow Assays
·         Dipsticks
·         Paper Based Microfluidics
Paper Diagnostics Device Type Outlook (Revenue, USD Million, 2014 - 2025)
·         Diagnostic Devices
·         Monitoring Devices
Paper Diagnostics Application Outlook (Revenue, USD Million, 2014 - 2025)
·         Clinical Diagnostics
o    Cancer
o    Infectious diseases
o    Liver Disorders
o    Other
·         Food Quality Testing
·         Environmental Monitoring 
Paper Diagnostics End-use Outlook (Revenue, USD Million, 2014 - 2025)
·         Home Healthcare
·         Assisted Living Healthcare Facilities
·         Hospital and Clinics
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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