The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s paper diagnostics market report forecasts the paper diagnostics market size to grow to $12.59 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

Learn More On The Paper Diagnostics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/paper-diagnostics-global-market-report

Paper Diagnostics Market Size Forecast
The global paper diagnostics market is expected to grow from $8.37 billion in 2022 to $9.08 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The paper diagnostics market size is expected to grow to $12.59 billion in 2027 at a CAGR of 8.5%.

North America held the largest paper diagnostics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Paper Diagnostics Market Driver ­– Increase In The Prevalence Of Heart Diseases
For instance, according to the report published by American Heart Association, a US-based organization dedicated to fighting heart disease and stroke, in 2022, Ischemic Heart Disease (IHD) was predicted to affect 244.1 million persons worldwide in 2020, and it was more common in men than in women. Moreover, mortality rates from the disease were 112.37 per 100, 000 in 2020. Eastern Europe, Central Asia, North Africa, and the Middle East had the greatest rates of IHD mortality. Therefore, the increased prevalence of heart diseases is driving the growth of the paper diagnostics market.

Request for A Sample Of The Global Paper Diagnostics Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8582&type=smp

Key Paper Diagnostics Market Trend – Developing Paper Strip Tests
Major companies operating in the paper diagnostics market are developing innovative tests to strengthen their position in the market. For instance, in May 2020, the Chemical Biological Center of the United States Army Combat Capabilities Development Command (CCDC), a US-based army research organization entered into a cooperative research and development agreement (CRADA) with the State of Delaware Division of Forensic Science, a US-based organization responsible for providing scientific services to the justice community and the Anne Arundel County Crime Lab, a US-based forensics crime lab of the Anne Arundel County Police Department, to develop a fentanyl detection test strip. The lateral flow immunoassay (LFI) test strip is a simple paper strip designed to detect fentanyl in liquid samples without the use of costly laboratory equipment. The results come three to four minutes after the strip is exposed to fluid—one line indicates the presence of fentanyl, and two lines indicate the absence of fentanyl.

Paper Diagnostics Market Segment
1) By Product: Dipsticks, Lateral Flow Assays: Paper Based Microfluidics
2) By Device Type: Monitoring Devices, Diagnostic Devices
3) By Application: Environmental Monitoring, Clinical Diagnostics, Food Quality Testing
4) By End-User: Home Healthcare, Assisted Living Healthcare Facilities, Hospital And Clinics

Paper Diagnostics Market Major Players and Strategies
Major players in the paper diagnostics market are Navigene, Siemens Healthcare GmbH, Arkray Inc., Acon Laboratories Inc., Chembio Diagnostic Systems Inc., Micro Essential Laboratory, Kenosha Tapes, GVS S.p.A, Abingdon Health, Micro Essential Laboratory Inc., Paperdrop Diagnostics, Monadnock Paper Mills Inc., Bio-Rad Laboratories Inc., and Diagnostics for All Inc.

In July 2020, 3M, a US-based global company operating in paper diagnostics partnered with a team from Massachusetts Institute of Technology (MIT), a US-based research university. With this collaboration, both intend to provide faster, more easily accessible, and more reasonably priced testing for the COVID-19 virus, which will be a significant step in halting its spread with the mass manufacturing of paper-based diagnostic kits using 3M’s diverse technologies. Moreover, in May 2020, the Institute of Genomics and Integrative Biology (IGIB), an India-based institute carrying out research leading to the generation of new knowledge and development of technologies in various areas partnered with Tata Sons to launch India’s first paper-strip test for rapid diagnosis of COVID-19. Tata Sons is an India-based investment holding company and promoter of Tata companies.

The Paper Diagnostics Global Market Report 2023 covers regional data on paper diagnostics market size, paper diagnostics market trends and drivers, opportunities, strategies, and paper diagnostics market competitor analysis. The countries covered in the paper diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Paper diagnostics are devices that use cellulosic and paper materials to identify and measure chemicals and bio-molecules that have an impact on health. They are utilized in the majority of healthcare settings, including hospitals, doctor’s offices, professional sports testing, and maternity clinics.

View More Reports Related To The Paper Diagnostics Market –
Diagnostic Imaging Services Global Market Report 2023
Paper Products Global Market Report 2023
Paper Pigments Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: