Global Diagnostic Tape Market – Industry Trends and Forecast to 2029

Global Diagnostic Tape Market, By Product Type (Single Coated Clear PET, Single Coated White PET, Double Coated White PET, Double Coated Clear PET), Thickness (2.5 mil, 3.4 mil, 6.4 mil), Application (Blood Glucose Test Strips, Urine Testing, Pregnancy Tests, Lateral Flow Assays, Microfluidic Consumables) – Industry Trends and Forecast to 2029

Diagnostic Tape Market Analysis and Size

The market for diagnostic tape is expected to grow during the forecast period of 2022-2029. The increasing number of imaging and diagnostic centres and the extended usage of point-of-care and fast diagnostic tests. As the occurrence of osteoarthritis, ovarian cancer, breast cancer, and cervical cancer rises, the market is growing.

Data Bridge Market Research analyses that the diagnostic tape market which was USD 71.1 billion in 2021, would rocket up to USD 107.06 billion by 2029, and is expected to undergo a CAGR of 5.25% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

The tape lab assists the clients in the blood assay and diagnostic sectors in identifying the best diagnostic adhesive and film options for their particular application. With more and more diagnostic films and tapes being developed to detect, monitor, and prevent numerous other medical issues, choosing the right one has long been crucial in blood glucose monitoring.

Global Diagnostic Tape Market Dynamics

Drivers

• Increasing chronic diseases

Increased instances of chronic wound infections, pressure ulcers, diabetic foot, and other conditions, as well as the rapid increase in the world's senior population and surgical procedures, are expected to boost the growth of the diagnostic tape market over the forecast period of 2022–2029.

• Increasing incidence of chronic and lifestyle-related disorders

The expanding number of imaging and diagnostic centres and the expanded usage of point-of-care and fast diagnostic tests. The market is growing as the prevalence of osteoarthritis, ovarian, breast, and cervical cancer.

• Increase in the rate of approval of point-of-care diagnostic testing

The market is anticipated to expand as more diagnostic and imaging devices are offered globally. However, during the forecast period of 2022–2029, it is anticipated that a surge in demand for the creation of small diagnostic devices, along with improvements in healthcare infrastructure and new marketing campaigns by major vendors in emerging nations, will offer lucrative opportunities for market expansion.

Opportunities

Growing applications from developing nations fuel the diagnostic tape market's growth will create a number of new chances for the expansion of the diagnostic tape market. This will provide beneficial opportunities for the diagnostic tape market growth.

Moreover, increasing emerging markets and new product launches will further provide beneficial opportunities for the diagnostic tape market growth during the forecast period.

Restraints/Challenges

• High cost

On the other hand, the high cost of advanced dressing along with skin allergies due to medical adhesive will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the diagnostic tape market.

This diagnostic tape market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the diagnostic tape market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Diagnostic Tape Market

During the COVID-19 pandemic, travel restrictions, restricted transit alternatives, and market and economic instability hindered international trade and transportation, which had an impact on the supply chain for women's health diagnostics and temporarily decreased demand. The development of this industry is hampered by unfavourable changes to the regulations and laws. Major regulatory organisations claim that individuals with breast cancer are more likely than healthy people to be infected with COVID-19. As a result, screenings, surgeries, and diagnostic screenings at hospitals and breast cancer clinics have all been delayed or drastically reduced.

Global Diagnostic Tape Market Scope

The diagnostic tape market is segmented on the basis of product type, thickness, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Single Coated Clear PET
• Single Coated White PET
• Double Coated White PET
• Double Coated Clear PET

 Thickness

• 2.5 mil
• 3.4 mil
• 6.4 mil

Application

• Blood Glucose Test Strips
• Urine Testing
• Pregnancy Tests
• Lateral Flow Assays
• Microfluidic Consumables

Diagnostic Tape Market Regional Analysis/Insights

The diagnostic tape market is analysed and market size insights and trends are provided by country, product type, thickness, and application as referenced above.

The countries covered in the diagnostic tape market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the diagnostic tape market due to the rising awareness among the people regarding wound infections along with increasing geriatric population.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness along with growing per capita income of the people.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Diagnostic Tape Market Share Analysis

The diagnostic tape market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to diagnostic tape market.

Some of the major players operating in the diagnostic tape market are:

• Siemens (Germany)
• Hologic, Inc. (U.S.)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
• Abbott (U.S.)
• BD (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Thermo Fisher Scientific Inc. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• NeuroLogica Corp. (U.S.)
• Shimadzu Medical (India) pvt. Ltd. (Japan)
• GENERAL ELECTRIC (U.S.)
• Quest Diagnostics Incorporated (U.S.)
• Sysmex India Pvt. Ltd. (Japan)
• Hitachi, Ltd. (Japan)
• Canon Inc. (Japan)
• FUJIFILM Holdings Corporation (U.K.)