The global Paper Diagnostics market size is expected to be worth around US$ 20.50 billion by 2030, according to a new report by Vision Research Reports.
The global Paper Diagnostics market size was valued at US$ 6.69 billion in 2020 and is anticipated to grow at a CAGR of 9.0% during forecast period 2021 to 2030.
Increasing prevalence of diseases such as cancer, autoimmune diseases, and inflammatory diseases is one of the key factors expected to fuel the demand for novel and rapid diagnostics techniques, thereby driving the market during the forecast period. For instance, as per the American Cancer Society, in 2018, around 1.7 million new cancer cases are likely to be diagnosed and 609,640 individuals are poised to die due to cancer. The number of cancer cases is projected to rise by around 70.0% over the next two decades. This trend is anticipated to help the market gain momentum during the forecast period.
Rising R&D investments, technological advancements, and new product launches are the key growth strategies incorporated by companies to cater to rising needs. ARKRAY Inc.; Acon Laboratories, Inc.;Abbott; Bio-Rad Laboratories; Siemens healthcare; Abcam Plc; and Abingdon Health are some of the players focusing on new product development by rising R&D investments. For instance, in March 2017, ARKRAY Inc. launched saliva testing system, capable of measuring cariogenic bacteria, acidity & buffer capacity, occult blood, leukocyte & proteins, and ammonia from saliva. Moreover, in May 2017, ACON Laboratories, Inc. received U.S. FDA approval for its “Mission Urine Reagent Strips” for detection of Microalbumin and Creatinine.
The lateral flow assays segment accounted for the largest revenue share of more than 55.0% of the market in 2017. The growth of the segment can be attributed to wide usage rate as pregnancy tests and a wide range of applications of the product type. Furthermore, growing incidence of infectious diseases such as HIV, TB, and pneumonia is estimated to spur the growth of the segment during the forecast period.
For instance, according to the Global TB Report 2017 published by WHO in 2016, around 2.8 million cases of TB were reported in India. The report further stated that India accounted for a quarter of the global TB burden. Moreover, rising efforts by government and healthcare organizations to create awareness about detection and treatment of TB are contributing to the growth of the segment.
The paper-based microfluidics segment is expected to exhibit significant growth over the forecast period owing to surging demand for point-of-care testing and R&D investments by life sciences and pharmaceutical companies. For instance, researchers from Purdue University, U.S. developed “Self-powered and Paper-based Electrochemical Devices (SPEDs),” a portable paper-based device, which can identify diseases such as anemia. It is a medical diagnostic device made out of paper, which helps detect biomarkers and identify disease by performing an electrochemical analysis.
Diagnostic devices represented the leading revenue share in the market in 2017. Paper diagnostic devices are used in blood separation and glucose detection. Rising awareness regarding associated merits, such as improved intensity, quality, and frequency of diagnosis along with new product launch and approvals is likely to supplement the growth of the segment.
Novel wax patterning technology can provide greater flexibility and adaptability, thereby increasing the potential of the diagnostics devices segment. Furthermore, burgeoning popularity of programmable microfluidics devices in urinalysis is poised to augment the growth of the segment during the forecast period.
Monitoring devices are also projected to post healthy growth during the forecast period. This can be attributed to increasing usage of devices in application that includes food testing and nutrient monitoring in aquatic systems. Moreover, rising incorporation by government organization, such as Ministry of Food Processing and International Food Protection Training Institute or agricultural groups, for enhanced monitoring will support the growth of the overall paper diagnostics market.
home helathcare is likely to register a CAGR of more than 8.0% during forecast period. High adoption of pregnancy and diabetes test kits in home healthcare is one of the key factors escalating the growth of the segment. Growing inclination towards affordable healthcare systems and government initiatives are also playing a vital role in the growth of the segment.
Public Health England (PHE), NHS England, and Diabetes U.K. initiated “National NHS Diabetes Prevention Programme” in the U.K. to raise awareness and reduce incidence rate of type 2 diabetes. Thus, rising efforts to create awareness about diabetes and need for its early detection will further fuel the demand for paper diagnostics in the home healthcare segment.
Paper-based molecular assays, ELISA, cell assays, and nucleic acid assays are used in biotech pharma research institutions. These diagnostics are incorporated to support clinical development of drugs and as an aid in drug discovery. Moreover, growing R&D and fund raising activities in emerging countries is poised to propel the growth of the segment.
The clinical diagnostics segment is anticipated to witness lucrative growth during the forecast period, owing to increasing usage of filter paper, and paper-based biosensors in diagnosis of liver disorders. In addition, the segment is estimated to dominate the market throughout the forecast horizon owing to increasing prevalence of infectious disease such as Ebola, malaria, dengue, tuberculosis, and HIV.
Moreover, new product launch and technological advancements are expected to further bolster the growth of the segment. For instance, in April 2017, Alere introduced “Malaria Ag.P.F,” a sensitive malaria RDT that can be used for detection of antigen of Plasmodium falciparum, i.e., histidine-rich protein II antigen, even with very low parasitemia.
North America was the leading revenue contributor in the market in 2017. Presence of major players in the market with a strong network of technology distribution in the U.S. is one of the primary growth stimulants for the market. Moreover, rising government initiatives to promote advanced diagnosis for infectious diseases are benefiting the growth of the regional market.
For instance, in August 2017, CDC provided funding of around USD 200 million through the ‘Epidemiology & Laboratory Capacity (ELC) for Infectious Disease’ agreement. The funding is projected to help countries control and prevent threat posed by infectious diseases. In addition, well-established healthcare facilities, rising awareness among the populace, and availability of effective paper diagnostic tools are anticipated to foster the growth of the market in North America.
ARKRAY Inc.; Acon Laboratories, Inc.; Abbott; Bio-Rad Laboratories; and Siemens healthcare Gmbh.
Lateral Flow Assays
Paper Based Microfluidics
Device Type Outlook
Food Quality Testing
Assisted Living Healthcare Facilities
Hospital and Clinics
Middle East & Africa
The Paper Diagnostics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Paper Diagnostics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Paper Diagnostics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Paper Diagnostics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Paper Diagnostics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Paper Diagnostics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Paper Diagnostics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Paper Diagnostics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Paper Diagnostics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Paper Diagnostics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Paper Diagnostics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Paper Diagnostics 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 Paper Diagnostics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Paper Diagnostics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Paper Diagnostics market. These factors have benefited the growth of the global market for Paper Diagnostics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Paper Diagnostics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Paper Diagnostics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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