Paper Diagnostics Market: About the Report
The global paper diagnostics market is forecast to grow at a steady pace as demand for rapid testing and accurate diagnosis rises in response to increasing cases of cancer and auto-immune diseases, worldwide. While the market was considerably affected due to the outbreak of COVID-19 during the first half of 2020, rising demand from key end-use industries such as hospitals and clinics, home care settings, and others is expected to aid in the fast recovery in the near future. Fact.MR offers a detailed analysis of the market, studying its growth trajectory across North America, Europe, South Asia, East Asia, and other regions.
Paper Diagnostics Market Overview
Increasing awareness regarding the early detection of various auto-immune diseases such as Graves ’ disease, pernicious anemia, Addison disease, and others has been a key growth driver of the paper diagnostics market. According to the World Health Organization (WHO), in 2008, 7.6 million people died from cancer accounting for 13% of all deaths worldwide. And the number of global cancer deaths is projected to increase by 45% through 2030. The rising incidence of cancer is expected to fuel the demand for paper diagnostics.
Steady growth of the hospitals, clinics, home care settings, and other healthcare segments is projected to create growth opportunities for the market between 2020 and 2030. According to the European Commission (EC), in 2018 the total expenditure of general governments on ‘health’ amounted to EUR 944 billion or 7.0% of GDP.
Government stimulus to the healthcare sector is projected to surge in the coming years, fuelling demand for advanced diagnostic technologies. Against this backdrop, despite suffering set-backs due to the ongoing pandemic, the paper diagnostics market is likely to recover gradually over the next year.
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Increasing Cases of Autoimmune Diseases Bolstering Growth
Rising cases of autoimmune diseases and cancers coupled with the growing awareness among solutions available for fast and prompt diagnosis have resulted in high demand for the early detection of these diseases.
According to the recent report of National Institutes of Health (NIH) published in April, 2020, the prevalence of autoimmune diseases in the United States was 11.0% for 1988-1991 and it had been increasing steadily to reach at 11.5% during 199-2004 and at 15.9% during 2011-2012.
Paper diagnostics provide promising solutions for early diagnosis of these diseases while emphasizing on the key aspects of the diagnosis procedure and outcomes such as affordability, sustainability, portability, disposability, and others.
According to the National Health and Nutrition Examination Survey (NHANES) of NIH, the rate of auto-immune diseases is forecast to grow further in the United States in the coming years. The data indicates that demand for paper diagnostics will surge considerably in the coming years
Regional Outlook of Paper Diagnostics Market
North America is the leading market for paper diagnostics in the world owing to the rising cases of cancer and advanced healthcare infrastructure. According to the National Cancer Institute, the U.S. is likely to have 1,806,590 new cases of cancer in 2020 and nearly 606,520 people might succumb to the disease. The demand for early and effective detection of cancer has therefore become a priority for the healthcare industry in North America. This in turn is boosting the demand for paper diagnostics in the region.
Europe is the second-leading market for paper diagnostics and is set to sustain its position through the forecast period. The presence of well-developed healthcare sector, coupled with the support from government are propelling the growth in Europe. For instance, a new policy adopted by the European Health Commission includes four pillars to beat cancers which are- prevention, early diagnosis, treatment, and follow-up care.
The presence of favorable policies such as this is creating environment conducive to the growth of the market. Fact MR has identified countries such as Germany, France, Italy, and others as highly lucrative pockets for paper diagnostics sales within Europe.
Asia Pacific is the fastest growing region in the global market and is expected to remain in the position due to the steady rise in demand for early and reliable detection of the diseases such as diabetes, cancer, tuberculosis, and others.
According to the World Health Organization (WHO), more than half worldwide cases of tuberculosis are reported in South-East Asia and Western Pacific region. This has significantly contributed to the surge in demand for paper diagnostics in East Asia.
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Paper Diagnostics Market Insights by Product
Presently, lateral flow assays are the leading segment in terms of product type in the global paper diagnostics market. Lateral flow assays paper diagnostics are widely popular in the healthcare segments such as hospitals, clinics, home care settings, and others because they offer more sophisticated, cost-effective, and reliable diagnostics solutions for the early diagnosis of various autoimmune diseases and cancers.
Paper Diagnostics Market Insights by End User
Presently hospitals and clinics segment is the leading end user in the paper diagnostics market and is set to maintain the lead through the forecast period. With the increase in awareness among doctors, other healthcare staff, and patients, the demand for paper diagnostics solutions is rising.
The European Centre for Disease Prevention and Control (ECDC) has recently launched their online program for Continuous Professional Development along with the advanced tools and documents aiming for advancement in the healthcare industry. The initiatives like this are intended to increase awareness among healthcare professionals about various healthcare solutions. Such initiatives are creating prospects for growth within the hospitals and clinics segment.
Home care settings has emerged another lucrative end user and is expected to continue exhibiting increasing demand for paper diagnostics over the forecast period. According to the National Center for Bio Technology Information (NCBI), 8090 home health care agencies in the United States provide care for more than 2.4 million elderly and disabled people annually. An increasing number of patients and their families are likely to adopt advanced home care solutions in the near future. This will in turn fuel demand for paper diagnostics in the coming years.
An Adaptive Approach to Modern-day Research Needs
Paper Diagnostics Market: Competitive Landscape
Companies operating in the paper diagnostics market are focusing on product launches as one of their key strategies to gain competitive advantage.
- For instance, Siemens Healthineers launched its new range of paper diagnostics solutions such as FTD Respiratory Assays using multiplex RT-PCR, VERSANT HCV Genotype 2.0 Assay (LiPA), and others in the current year.
- Arkray Inc. launched its new extensive range of paper diagnostics solutions such as HbA1c Analyzer, Orinalyser U500, and others in the recent year.
The Analyst’s Viewpoint
“For instance, according to the National Institutes of Health (NIH), the prevalence of autoimmune diseases in Italy is highest for autoimmune thyroiditis (2,619 per 100,000) followed by psoriatic arthritis (939 per 100,000), type 1 diabetes (464 per 100,000), and others. With the incidence of diabetes and autoimmune diseases unlikely to reduce in the coming years, market players are expected the demand for paper diagnostics to pick up in the coming years.”
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COVID-19 Impact on Paper Diagnostics Market
The outbreak of the COVID-19 pandemic caused temporary decline in the growth of the paper diagnostics market, especially since the focus of the healthcare industry shifted towards dealing with emergency caused due to the virus outbreak.
However, demand is expected to pick up since the demand for effective solutions for rapid testing of infectious diseases is at all-time high. Awareness is improving across countries such as Chile, Brazil, Mexico, and others, which will favor the overall expansion of the market in the coming years.
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.
- Lateral Flow Assays
- Paper-based Micro Fluidics
- Hospitals & Clinics
- Home Care Settings
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa (MEA)
Paper Diagnostics Market - Scope of the Report
A recent study by Fact.MR on the paper diagnostics market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of paper diagnostics. The study also provides the dynamics that are responsible for influencing the future status of the paper diagnostics market over the forecast period.
A detailed assessment of the paper diagnostics value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the paper diagnostics market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Paper Diagnostics Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the paper diagnostics market across the globe.
A comprehensive estimate on the paper diagnostics market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Fact.MR’s Paper Diagnostics Market Report
- Which are the most lucrative markets for paper diagnostics?
- Which factors will impact paper diagnostics market growth?
- How will changing trends impact the strategy of market players?
- How can market players capture the low-hanging opportunities?
- Which companies are leading the paper diagnostics market?
- What are the winning strategies of stakeholders in the paper diagnostics market?
Paper Diagnostics Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the paper diagnostics market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the paper diagnostics market during the forecast period.
Country-specific valuation on demand for paper diagnostics has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Paper Diagnostics Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the paper diagnostics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the paper diagnostics market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the paper diagnostics market report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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