Global Paper Diagnostics Market – Key Regions, Company Profile, Opportunity and Challenge 2030

The global paper diagnostics market is expanding fast, as demand for rapid testing and accurate diagnosis continues to rise in response to increase in cases of cancer, autoimmune diseases, and inflammatory diseases, worldwide, finds Fact.MR, in a new study. Due to their benefits such as ease of fabrication, affordability, sensitivity, reproducibility, and low limits of detection, paper diagnostics are highly sought-after in the healthcare and diagnostics segment.

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According to the World Health Organization (WHO), there were 18.1 million new cancer cases and 9.6 million deaths in 2018, globally. This has resulted in a surge in demand for paper diagnostics for early detection of cancer over the past decade.

However, the outbreak of COVID-19 has hampered the market’s growth trajectory, as restrictions imposed to contain the virus disrupted manufacturing activities. Besides, shortage of raw materials and inadequate labour supply were other challenges faced during extended periods of lockdown. Contrary to this, Fact.MR projects that, the paper diagnostics market will continue gaining from rising demand from key end users such as hospitals & clinics, home care settings, and others, over the coming years.

Key Takeaways from Paper Diagnostics Market Report

• Lateral flow assays are expected to witness the considerably high demand over the forecast period between 2020 and 2030
• Hospitals & clinics segment is expected to remain the primary end user of paper diagnostics through the forecast period
• North America will lead the global paper diagnostics market with its epicenter in the U.S.
• East Asia will emerge as another lucrative region exhibiting impressive growth throughout the forecast period
• The outbreak of COVID-19 is expected to moderately impact the growth of the paper diagnostics market till the end of the next year

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Paper Diagnostics Market – Segmentation

Fact.MR’s research study assesses the global paper diagnostics market in terms of product type, end user, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and their influence on the growth prospects of the global paper diagnostics market.

Product

• Lateral Flow Assays
• Dipsticks
• Paper-based Micro Fluidics

End User

• Hospitals & Clinics
• Home Care Settings

Paper Diagnostics Market: Competitive Landscape

Competition prevailing in the paper diagnostics market is expected to get more intense in the coming years. In order to keep their positions intact, market players are focusing on launching of more efficient paper diagnostics solutions.

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For instance,

• Acon Laboratories has announced the launch of its Flowflex™ Antigen COVID-19 test in November, 2020. Also, the Acon has received FDA clearance for its Distinct® Early Detection Pregnancy Test on December 16, 2020.
• Bio-Rad Laboratories Inc. launched its new extensive range of paper diagnostics solutions such as D-10 Hemoglobin Testing System, D-10 accessories, Early Diabetes Detection solutions, and others in the current year.

Some of the companies profiled in the paper diagnostics market report are Siemens Healthineers, Chembio Diagnostic Systems Inc., Acon Laboratories, Bio-Rad Laboratories Inc., Arkray Inc., and Cytodiagnostics Inc.

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