Paper Diagnostics Market Size To Reach $22.5 Billion By 2030

Paper Diagnostics Market Growth & Trends

The global paper diagnostics market size is expected to reach USD 22.5 billion by 2030, registering a CAGR of 6.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. 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.

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Paper Diagnostics Market Report Highlights

• Introduction of technologically advanced paper based diagnostic products, which offer sensitive and rapid results, is estimated to boost market growth over the forecast period

• Development of paper-based ELISA for detection of autoimmune antibodies in body fluid is expected to bolster the demand for technologically advanced & upgraded lateral flow assays over the forecast period

• The lateral flow assays segment held the largest revenue share in 2022, owing to wide application in disease diagnostics and associated advantages such as robust & rapid results, sensitivity, ease of use, and cost efficiency

• Paper based diagnostic devices are widely used as point-of-care diagnostics. Increasing inclination towards these devices can be attributed to advent of wax patterning technology, facilitating greater flexibility and adaptability

• In terms of application, the clinical diagnostics segment is likely to witness lucrative growth during the forecast period. Rising awareness regarding their benefits such as improved control and rapid results and growth prospects in area of nanomaterial & biomolecules are contributing to the growth of the segment

• North America led the overall market with a revenue share of 35.9% in 2022, owing to surging demand for self-testing devices coupled with well-established healthcare infrastructure

• Market leaders are involved in R&D activities to develop accurate, cost efficient, and sensitive paper based microfluidics. Focus on mergers and acquisitions, consistent system upgradation through R&D investments and fund raising are some of the key strategies adopted by players.

Paper Diagnostics Market Segmentation

Grand View Research has segmented the global paper diagnostics market on the basis of kit type, device type, application, end-use, and region:

Paper Diagnostics Kit Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Lateral Flow Assays

• Dipsticks

• Paper Based Microfluidics

Paper Diagnostics Device Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Diagnostic Devices

• Monitoring Devices

Paper Diagnostics Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Clinical Diagnostics

  • Cancer

  • Infectious Diseases

  • Liver Disorders

  • Others

• Food Quality Testing

• Environmental Monitoring

Paper Diagnostics End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Home Healthcare

• Assisted Living Healthcare Facilities

• Hospital and Clinics

• Others

Paper Diagnostics Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Paper Diagnostics Market

• Arkray, Inc.

• Acon Laboratories, Inc.

• Abbott (Alere Inc.)

• Bio-Rad Laboratories, Inc.

• Gvs S.P.A.

• Siemens Healthcare Gmbh

• Diagnostics For All, Inc.

• Ffei Life Science (Biognostix)

• Navigene

• Micro Essential Laboratory Inc

• Kenosha Tapes