Paper Diagnostics Market Analysis, Size, Share and Growth

Global paper diagnostics market is expected to reach USD 8.35 billion by 2022, according to a new report by Grand View Research, Inc. Increasing prevalence of infectious disorders and lifestyle associated diseases such as diabetes coupled with rising geriatric population base is expected to present this market with lucrative growth opportunities.

In addition, rising adoption of cost effective and easily accessible rapid POC diagnostics especially in the developing economies of Asia Pacific region is expected to boost market growth over the forecast period. Furthermore, growing incidence rates of cancer is expected to serve paper diagnostics market as a driver. As reported by WHO, in 2012, cancer was among the prime causes of mortality worldwide with 8.2 cancer associated deaths and 14 million new cases, thereby expected to propel the need for development of rapid, portable and cost-effective paper diagnostics.

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Introduction of technologically advanced paper based sensor, 3D wax printing devices have potential advantages over conventional technologies, associated benefits such as disposable nature, user friendliness and low cost of fabrication are the factors attributing towards the growth of this industry.

Further key findings from the study suggest:

Lateral flow assays dominated the product market in terms of revenue share as of 2014, at over 65% of market owing to high adoption rates and introduction of fluid actuated valves which are embedded in paper enabling manipulation of fluids & reagents in imunodetection tests.

Demand for diagnostics devices such as paper based microfluidics, and other upgraded technology based on fluidics for confirmatory tests is expected to heighten over the forecast period owing to increasing R&D activities assuring inflow of novel products in the industry. High cost of quantitative tests and growing awareness pertaining to...