Global Paper Diagnostics Market 2017-2021
About Paper Diagnostics
Paper diagnostics are paper-based diagnostic tests performed for the detection of various infectious diseases and food quality monitoring. Lateral flow assay kits and dipsticks are the two types of paper diagnostic products available in the market. Lateral flow assay kits are the largest contributors to the global paper diagnostics market. Paper diagnostic tests are helpful in reducing the time between the diagnosis of a disease and treatment procedure.
Technavio’s analysts forecast the global paper diagnostics market to grow at a CAGR of 6.89% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global paper diagnostics market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Paper Diagnostics Market 2017-2021
Technavio recognizes the following companies as the key players in the global paper diagnostics market: Alere, Bio-Rad Laboratories, and Siemens Healthcare.
Other Prominent Vendors in the market are: 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.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is focus on nano-biosensors. Technological advances such as incorporation of nanomaterial linkages and 3D paper-based sensors lead to the development of new products in the market. Nano-biosensors, ELISA, and a combination of the paper substrate with synthetic biomarkers are key components for the advanced product development. Gold nanoparticles are also used in the lateral flow assay development.”
According to the report, one driver in the market is low cost of paper diagnostic products. Cost-effectiveness of the products drives the global paper diagnostics market. The lateral flow assay kits and dipsticks are one of the cheapest products available in the global IVD market (parent market). The cost of lateral flow assay kit and dipstick varies with a huge margin, but it is the quite cost-effective product for the disease monitoring. On an average dipstick cost about $2-$10 in any geographical region. The low cost of the product drives the market growth, as it increases product affordability and influences the bulk purchase of the product in online and offline platforms (hospitals and retail stores).
Further, the report states that one challenge in the market is lack of reimbursement. Reimbursements are not provided for dipsticks, as they are low-cost products. Unlike, other IVD products, the cost of these paper diagnostic products is lesser. The emerging economies offer limited or negligible reimbursements for IVD products. There are no reimbursements provided for dipsticks and lateral assay kits in the emerging economies. In the developed economies such as the US and Germany, the reimbursement for lateral flow assay is minimal, which is impacting the market adoption moderately. The cost of lateral flow assay kits is higher compared with that of the dipsticks. However, the lack of reimbursement is expected to affect the market adoption rate.
Alere, Bio-Rad Laboratories, Siemens Healthcare, 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.
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