Global Paper Diagnostics Market: Overview
Paper diagnostics are a group of diagnostic procedures that can be performed with cheap, user-friendly, and robust devices in locations where advanced diagnostic procedures may not be available or affordable. Advanced diagnostic equipment also usually requires a trained staff, in the absence of which paper diagnostics can be an excellent solution for making point-of-care treatment available in remote locations.
Paper diagnostics work on the same principle as litmus or pH papers, that is, a chemical reaction between the coating on the paper and the substance to be tested produces a distinct visible result, which can be used for diagnosis. Due to the clear guidelines regarding the meaning of each visible result, paper diagnostics can even be used by untrained patients. This has resulted in a steady demand for paper diagnostics from patients suffering from conditions that require regular self-diagnosis.
The report provides detailed information about the global paper diagnostics market, including a clear review of the market’s historical trajectory, in order to provide reliable insights into the expected trajectory of the market in the coming years. The major segments of the paper diagnostics market have been analyzed to provide a granular view. The regional and competitive dynamics of the market have also been elaborated upon in the report to provide pointers regarding the leading players in each regional segment.
Paper Diagnostics Market: Drivers and Restraints
The primary driver for the global paper diagnostics market is the increasing prevalence of diseases that can be diagnosed or monitored with paper diagnostics. The rise in the prevalence of diabetes, in particular, is a major driver for the global paper diagnostics market. Diabetes can be effectively self-monitored with paper diagnostics, which eliminates the need for hospital visits and expensive medical tests.
The increasing prevalence of liver disorders, several infectious diseases, and cancer has also propelled the global paper diagnostics market. The growing number of patients suffering from these diseases in remote locations has driven the demand for point-of-care testing, thus driving the demand for paper diagnostics. The increasing environmental pollution has also contributed to the increasing prevalence of such diseases.
The high reliability of paper diagnostics, obtained at costs much lower than diagnostic devices, is also responsible for the growing demand for the same. Paper diagnostics are less complex due to the lack of technological sophistication, which has also driven the demand for the technology in remote regions.
Paper Diagnostics Market: Regional Analysis
Asia Pacific is expected to emerge as a major regional player in the global paper diagnostics market in the coming years. The increasing prevalence of various cancers and diabetes, along with the lack of widespread medical facilities, is expected to drive the market for paper diagnostics in this region. The growing preference for home healthcare over hospitalization is another major factor driving the Asia Pacific paper diagnostics market.
Paper Diagnostics Market: Competitive Landscape
The competitive landscape of the global paper diagnostics market is fragmented to a high degree and marked by intense competition as a result. Mergers and acquisitions, particularly in developing economies, have become the go-to strategy for major players in the paper diagnostics market, as they allow companies to expand their operations in regions showing immense promise. Major players in the global paper diagnostics market include Siemens Healthcare, BiognostiX, Navigate Genetic Science, Bio-Rad Laboratories, and Alere.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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