Paper Diagnostics Global Market Report 2024

The global paper diagnostics market has grown strongly in recent years. It will grow from $9.16 billion in 2023 to $10.01 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth observed in the historic period can be primarily linked to the demand for accessible healthcare, readiness to address global health crises, the use of point-of-care testing for chronic conditions, and diagnostic applications tailored for resource-constrained environments. This growth was further driven by the need for quick results to facilitate timely decision-making and an amplified emphasis on preventive healthcare measures.

The global paper diagnostics market is expected to see strong growth in the next few years. It will grow to $14.49 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the upcoming period is driven by advancements in paper-based biosensors and their integration with wearable health devices. The forecast also considers the expansion of personalized medicine, the burgeoning demand for telehealth services, and the need for early cancer detection methods. Furthermore, this growth is expected to be bolstered by the expansion of veterinary diagnostics and government initiatives focused on preventive healthcare. Key trends on the horizon encompass advancements in paper-based technologies, the convergence of technology in diagnostics, the proliferation of chronic disease management apps, the development of multiplexing capabilities, the use of microfluidics in paper devices, and the integration of smartphone technology.

The anticipated rise in heart disease cases is set to drive the paper diagnostics market. Heart disease, affecting the cardiovascular system, prompts the demand for sensitive microfluidic paper-based devices (PAD) capable of simultaneous detection of various cardiac biomarkers. This enables early and late-stage diagnoses of acute myocardial infarction, stimulating the demand for paper diagnostics. Statistics Canada's data from August 2023 revealed a notable surge in heart disease fatalities in Canada, reaching 17.7% (55,271 deaths) in 2021 from the 1.6% recorded in 2020, underlining the market's growth driven by increased heart disease prevalence.

The escalating number of cancer instances is poised to boost the paper diagnostics market. As cancer signifies abnormal cell growth, paper diagnostics play a crucial role in its early detection and monitoring. The devices offer swift and accessible testing methodologies for diagnosing and tracking cancer progression. The American Cancer Society's January 2022 journal projected an increase in new cancer cases and fatalities in the United States in 2022 compared to the previous year, highlighting the rising cancer instances and their influence on the paper diagnostics market.

Key players in the paper diagnostics market are focused on Point-of-Care (POC) test advancements. In August 2023, Mylab Discovery Solutions launched two rapid point-of-care tests for detecting dengue infections. The rapid gold test and high-accuracy dry luminescence assay test deliver results within 15-20 minutes sans the need for laboratory setup. These aids significantly support dengue screening programs in resource-limited areas, offering healthcare professionals precise tools for prompt diagnosis and effective disease management.

Major entities in the paper diagnostics market are introducing novel tests like the PrecivityAD2 blood test to enhance patient assessment. C2N Diagnostics unveiled the PrecivityAD2 blood test in August 2023, catering to clinical care, specifically addressing Alzheimer's disease and cognitive decline. This analytically and clinically validated assay measures specific plasma amyloid beta and tau peptide concentrations, accurately identifying Alzheimer's in patients with mild cognitive impairment or dementia. The test's performance statistics demonstrated high accuracy, exhibiting a 0.94 AUC and 88% accuracy in a study involving 583 patients with cognitive impairment, using amyloid PET as the reference standard.

In March 2023, Servier, a pharmaceutical group based in France, joined forces with QIAGEN, a German solutions provider, specializing in Sample to Insight capabilities, aimed at extracting valuable molecular insights from life's elemental building blocks. This strategic partnership between Servier and QIAGEN is focused on creating a companion diagnostic test for identifying IDH1 mutations in patients diagnosed with Acute Myeloid Leukemia (AML). The collaboration is a response to the pivotal clinical phase 3 data from the AGILE study, showcasing the exceptional outcomes of ivosidenib when combined with azacitidine for AML patients with IDH1 mutations.

Major companies operating in the paper diagnostics market report are Navigene, Siemens Healthcare GmbH, Arkray Inc., Acon Laboratories Inc., Chembio Diagnostic Systems Inc., Kenosha Tapes, GVS S.p.A, Abingdon Health, Micro Essential Laboratory Inc., Paperdrop Diagnostics, Monadnock Paper Mills Inc., Bio-Rad Laboratories Inc., Diagnostics for All Inc., Sysmex Corporation, Abcam Plc., Cytodiagnostics Inc., Abbott Inc., Alere Inc., NanoEntek Inc., BiognostiX, Mologic Ltd., Becton Dickinson and Company, BioFluidica, BioDot Inc., Biopico Systems Inc., BioMedomics Inc., BioPorto Diagnostics A/S, Danaher Corporation, EMD Millipore, EKF Diagnostics Holdings plc

North America was the largest region in the paper diagnostics market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the paper diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the paper diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The realm of paper diagnostics, key classifications include dipsticks, lateral flow assays, and paper-based microfluidics. A urine dipstick test, for instance, involves immersing a specific paper strip into a urine sample for analysis. These devices come in varied types, serving as both monitoring tools and diagnostic aids. Their applications span environmental monitoring, clinical diagnostics, and food quality assessments, catering to end-users such as home healthcare, assisted living facilities, as well as hospitals and clinics.

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The paper diagnostics market consists of sales of paper diagnostics for commercial colorimetric tests, and LFA (lateral flow assay) paper-based testing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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