Demand for Home Care Settings Paper Diagnostics Is Slated to Accelerate At a CAGR of 8.1% Across the 2021-2031
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.
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.
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“According to the National Center for Biotechnology Information (NCBI), autoimmune diseases are among the leading causes of death among young and middle-aged woman in the United States, and the prevalence rate ranges from less than 5 per 100,000 (e.g. chronic active hepatitis, uveitis) to more than 500 per 100,000 (grave disease, rheumatoid arthritis, thyroiditis). Against this backdrop, demand will continue rising steadily as focus remains on prompt diagnosis of autoimmune diseases,”said a Fact.MR analyst.
Global Paper Diagnostics Market: Segmentation
- Lateral Flow Assays
- Paper-based Micro Fluidics
- Hospitals & Clinics
- Home Care Settings
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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
Following Questions Answers Covered in the Report are:
- How will the global Paper Diagnostics Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Paper Diagnostics Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Paper Diagnostics Market?
- How will these strategies influence the market growth and competition?
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Increase in Demand from Hospitals & Clinics Boosting Growth
The rise in demand from hospitals and clinics for paper diagnostics has been a key factor driving the market. As paper diagnostics solutions are highly efficient in detecting cancer early, the increasing incidence of the disease will continue creating growth opportunities for the paper diagnostics market.
According to the National Centre for Biotechnology Information (NCBI), in 2011, one in every 27 people living in Western Australia had been diagnosed with cancer at some time in their lifetime. Between 1992 and 2011, complete cancer prevalence in Western Australia increased by a magnitude of 2.5-fold.
Cancer patients might need special care and support that often requires infrastructure and facilities that only a hospital can accommodate. Timely diagnosis of their conditions and communication from clinicians are highly sought-after by cancer patients and their families. An increasing number of hospitals and healthcare clinics are therefore choosing paper diagnostics to offer improved patient care.
These devices include biological, chemical, and microfluidic components implemented on paper substrates to ascertain a set of principles, called ASSURED (Affordable, Sensitive, Specific, User friendly, Rapid and Robust, Equipment free and Deliverable to end users) laid down by the World Health Organization (WHO). Their applications across hospitals and clinics are rising as paper diagnostics are identified as equipment-free and affordable diagnostics solutions.
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