Increasing Cases of Autoimmune Diseases to Boost Growth of Paper Diagnostics Market – Fact.MR Survey

As per the latest industry analysis published by Fact.MR, global market for paper diagnostics is likely to be valued at US$ 7.2 Bn in 2021, and is slated to accelerate at a CAGR of 8.1% across the 2021-2031 forecast period, reflecting more than 2x increase. Paper-based lateral flow assays are projected to be most demanded, accumulating over 60% revenue until 2031.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Paper Diagnostics market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Paper Diagnostics

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The report offers actionable and valuable market insights of Paper Diagnostics. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Paper Diagnostics Market across various industries and regions.

This newly published and insightful report sheds light on Market Insights of Paper Diagnostics, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Paper Diagnostics Market.

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.

Product
• Lateral Flow Assays
• Dipsticks
• Paper-based Micro Fluidics

End User
• Hospitals & Clinics
• Home Care Settings

Region
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

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Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, enhanced R&D investments, technological advancements and mergers.
• The Wyss Institute has developed paper-based synthetic gene networks as a next generation diagnostic technology for use in global healthcare crises and patient-care. This new type pf platform may also provide patients and consumers with simple-to-use texts for a variety of other health problems.
• In Sept 2017, U.S. ARKRAY, Inc. (ARKRAY) launched the ADAMS™ A1c HA-8180V System for haemoglobin A1c testing. The system obtained FDA 510(k) clearance as an aid in the monitoring and diagnosis of individuals with diabetes. This fully automated analyser utilizes gold standard HPLC technology.

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

“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.

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How did COVID-19 Spur Paper Diagnostics across Hospitals & Clinics?
In terms of end-user, hospitals and clinics are the foremost utilizers of paper diagnostics. With the increase in awareness among doctors, other healthcare staff, and patients, the demand for paper diagnostics solutions is rising. Fact.MR expects the segment to experience a CAGR of 7% until 2031.

During the height of the coronavirus pandemic, documented limitations associated with rapid diagnostic approaches such as RT-PCR (real-time PCR), RT-LAMP and ELISA prompted high reliance on paper-based diagnostics, capable of testing viral genome sequence to reflect information on the spread and distribution of the pathogen, especially in wastewater.

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Report Benefits & Key Questions Answered
• Paper Diagnostics Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
• Paper Diagnostics Historical volume analysis: The report provides a comparison of Paper Diagnostics’s historical sales and projected sales performance for 2021-2031.
• Paper Diagnostics Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Paper Diagnostics market. It carefully gauges the impact of changing healthcare needs of key demographics globally
• Paper Diagnostics Consumption by demographics: The report investigates consumer behavior affecting Paper Diagnostics demand outlook for the assessment period. Effect of their keenness for digital trends on Paper Diagnostics market is carefully analyzed
• Post COVID consumer spending on Paper Diagnostics: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Paper Diagnostics market growth.

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