November 08, 2021: Global Paper Diagnostics Market is expected to reach USD 8.35 billion by 2022. Paper diagnostics are the tools that are rugged enough, simple to use, and cheap for rural areas that could save thousands of lives across the globe. A disposable and versatile test that may analyze blood or urine for indication of chronic conditions or infectious diseases. The paper diagnostics market is estimated to grow at a significant CAGR of 7.5% over the forecast period as the scope and its applications are rising enormously across the globe.
The factors that are playing a major role in the growth of the paper diagnostics market are growing occurrence of diseases that can be monitored or diagnosed with paper diagnostics, growing number of patients suffering from diabetes, and benefits like cost-efficient, fast results, and less complexity. However, the presence of alternatives may restrain overall market growth in the years to come. Paper diagnostics industry is segmented based on product type, device type, application, end-user, and region.
Lateral flow assays and dipsticks are the product types that could be explored in paper diagnostics in the forecast period. Lateral flow assays sector accounted for the significant market share of paper diagnostics in terms of revenue and is estimated to continue with its dominance in the years to come. This could be because of its extensive usage in the form of pregnancy tests across the globe.
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Monitoring devices and diagnostic devices are the device types that could be explored in paper diagnostics in the forecast period. Diagnostic devices sector accounted for the substantial market share of paper diagnostics and is estimated to grow at highest CAGR in the years to come. The reason behind the overall market growth could be high flexibility and adaptability and application in food pathogen detection and infectious diseases diagnosis. In addition, monitoring devices sector is estimated to grow at the fastest pace in the years to come.
The market may be categorized based on applications like environmental monitoring, clinical diagnostics, food quality, and others could be explored in the forecast period. The clinical diagnostics sector accounted for the substantial market share of paper diagnostics and is estimated to grow at highest CAGR in the years to come. The reason could be the growing occurrence of infectious diseases, liver disorders, and cancer.
Academic and research institutes, hospitals, home healthcare, clinical diagnostic laboratories, and other end-users could be explored in paper diagnostics in the forecast period. Hospitals sector accounted for the significant market share of paper diagnostics and is estimated to lead the overall market in the years to come. The reason behind the growth could be increasing use of paper-based tests in primary clinical diagnosis.
Globally, North America accounted for the significant market share of paper diagnostics and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be rising awareness among consumers regarding paper diagnostics, growing occurrence of diseases like HIV, hepatitis, and cancer, and government initiative.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise increasing acceptance of home healthcare over hospitalization and growing occurrence of infectious diseases.
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The key players of the paper diagnostics market are Siemens Healthcare, Alere, Bio-Rad Laboratories, Abcam, Sigma-Aldrich, ACON Laboratories, Surmodics, SD Biosensor, and Innova Biosciences. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Market Segment:
Global Paper Diagnostics Product Outlook (Revenue, USD Million, 2012 - 2022)
• Dipsticks
• Lateral Flow Assays
Global Paper Diagnostic Device Type Outlook (Revenue, USD Million, 2012 - 2022)
• Diagnostics devices
• Monitoring devices
Global Paper Diagnostics Application Outlook (Revenue, USD Million, 2012 - 2022)
• Clinical diagnostics
• Cancer
• Infectious diseases
• Liver disorders
• Others
• Food quality testing
• Environmental Monitoring
Paper Diagnostics Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• U.S
• Canada
• Europe
• U.K
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• MEA
• South Africa
• Saudi Arabia
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