U.S. paper diagnostics market, by product, 2012-2022 (USD Million)
- 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 associated benefits with adoption of these technologies are growth propellers for this market.
- Clinical diagnostics segment is expected to gain market share of over 45% over the forecast period due to rising demand for cost effective screening tests for infectious diseases and cancer. Increasing usage of microfluidics, and paper based biosensors in the diagnosis of liver disorders and diseases such as HIV, malaria, and dengue the segment is anticipated to be instrumental in providing lucrative growth platform during the forecast period.
- Biotech-Pharma research segment is expected to grow with lucrative CAGR of 8.1% owing to increasing R&D activities for the development of paper based analytical devices for diseases diagnosis.
- For example, in October 2015, Alere Ltd. UK in collaboration with other market players initiate the project for the development of laser printable point of care sensors which enables laser based printing for biological material. This study helps in the detection of specific disease such as tuberculosis and reducing the detection time
- Major players operating in the paper diagnostics market include Diagnostics For All, BiognostiX, Navigene Genetic Science Pvt. Ltd., Micro Essential Laboratory, Kenosha C.V., GVS Filter Technology, Alere Inc., Bio-Rad Laboratories, and Siemens Healthcare. Market leaders are involved in extensive research for the development of cost efficient, accurate, sensitive paper based microfluidics.