The global paper diagnostics market was valued at USD 4,700 million in 2014 and is anticipated to grow at CAGR of 7.5% over the forecast period. Rising prevalence of infectious diseases such as HIV, malaria, tuberculosis is responsible for the overall growth of the paper diagnostic market over the forecast period. Rising geriatric population with disorders that requires self-monitoring such as, in the case of diabetes mellitus, is also a high impact rendering driver Moreover, growing demand for cost-efficient alternatives coupled with technological advancements is expected to propel the growth of paper based diagnostics industry over the forecast period.

Technological advancements include incorporation of nano-biosensors, Enzyme-Linked Immunosorbent Assay (ELISA) and a combination of the paper substrate with synthetic biomarkers. Associated benefits such as increased cost-efficiency, less complexity, and rapid results is thereby responsible for boosting the industry growth.

U.S. paper diagnostics market, by product, 2012-2022 (USD Million)

Product Insights

Paper diagnostics market, on the basis of the product, is segmented into dipsticks and lateral flow assays. Lateral flow assays dominated the overall industry in terms of revenue share at over 65.0% in 2014, owing to wide usage rates in the form of pregnancy tests globally. Associated benefits over traditional methods such as small reagent volume requirement, rapid analysis, and lower associated costs are imperative to the growth of paper diagnostics market.

It is also anticipated to be the fastest growing segment due to extensive utilization in the wide range of applications, rising R&D pertaining to paper based ELISA test coupled with rising awareness levels globally. Increasing demand for decentralized diagnostic tests and home healthcare is also a major contributing factor towards the growth of paper diagnostics market.

Dipsticks are anticipated to exhibit significant growth in coming years owing to increasing usage in urinalysis in clinical laboratories and health centers. Rising prevalence of urinary tract infections is high impact rendering driver of this segment. These facilitate rapid diagnosis enabling a greater volume of tests performed at a time in healthcare facilities thereby propelling the growth of paper based diagnostics industry. Advantages associated with dipsticks include convenience and higher stability is anticipated to present this segment with future growth opportunities.

Device Insights

Device segment includes diagnostics and monitoring devices. Diagnostics devices dominated the overall industry in 2014 in terms of revenue share at over 55.0% as a consequence of rising preference towards cost-effective point-of-care diagnostics. Associated benefits including minimum equipment support, high adaptability and flexibility are also responsible for driving market demand for this segment.

The diagnostic devices segment is expected to gain market share lucratively at a CAGR of over 7.5% over the forecast period, due to its wide range of application in infectious diseases diagnosis and food pathogen detection. Technological advancements such as incorporation of nanomaterial linkages and 3D paper based sensors are further anticipated to propel future growth prospects of this segment.

Monitoring devices segment is anticipated to exhibit growth over the forecast period as a consequence of increasing application in drug metabolism and environmental monitoring. Unmet medical needs coupled with fewer entry barriers in this segment are expected to propel the growth opportunities for new entrants in industry

Application Insights

Paper based diagnostics are most commonly used in clinical diagnostics. This segment dominated the overall industry in 2014 in terms of revenue share at over 45.0% owing to increasing prevalence of infectious diseases, cancer, and liver disorders.

According to the estimates published by the WHO, in 2012, worldwide cancer incidences were approximately 14.1 Million. This segment is also expected to grow at the fastest rate during the forecast period due to rising demand for rapid and cost effective techniques.

Paper based diagnostics are also employed in food quality testing as a consequence of rising incidences of food borne diseases. These are employed in low-resource settings and enables rapid bacterial detection that accelerates further market growth. Rising environmental pollution coupled with increasing need to detect potential pollutants are anticipated to drive the demand for this segment over the forecast period.

End-use Insights

Hospitals segment dominated the overall industry in 2014 in terms of revenue share at over 48.0% due to due to extensive utilization of paper based tests in primary clinical diagnosis and high employability in the case of emergencies. Biotech-Pharma research institutions are expected to be the fastest growing segment of this industry, owing to increasing demand for paper based ELISA for autoimmune disease detection and adverse drug effect monitoring. Home Healthcare segment is expected to witness growth owing to rising geriatric population, rising popularity in developed regions and low accessibility to healthcare settings in remote regions.

Regional Insights

North America dominated the overall industry in terms of revenue in 2014 at over 40.0%. High awareness levels pertaining to government initiatives and rising prevalence of diseases such as cancer, HIV, hepatitis are the factors attributing to the largest share of this region of paper diagnostics industry. Asia-Pacific, on the other hand, is expected to witness notable growth over the forecast period owing to the high prevalence of infectious diseases, rising adoption of home healthcare, high population growth rate coupled with the presence of untapped opportunities for new companies.

Competitive Market Share Insights

Some key players in this market include Diagnostics For All, BiognostiX, Navigate Genetic Science Pvt Ltd., Micro Essential Laboratory, Kenosha C.V., GVS Filter Technology Inc., Alere Inc., Bio-Rad Laboratories, and Siemens Healthcare. The industry is competitive in nature and companies are following strategies such as collaborative agreements and merger & acquisition to gain competitive advantage. For instance, in November 2014, Alere Inc. strengthened its position in the realm of rapid diagnostics by entering into an agreement with Optum United Health Group. Similarly, in July 2014, Siemens Healthcare collaborated with Beckman Coulter in order to expand its diagnostics division.

 
Analyst perspective

Paper based diagnostics is proving to be a cost-efficient alternative to conventional methods in resource-limited settings. These can be implemented in on-site medical care for the prevention and control of infectious diseases. Paper based microfluidic technology and 3D wax patterning are key developments. With further innovations and commercialization, it will be able to address needs, especially, in the developing regions.

For instance, larger result output, reduction of consumption of samples and reagents, less time-consuming operations is expected to propel demand over in the coming years. Moreover, it is envisioned that integration of materials science and biomedical engineering to develop -based sensors is a major step forward in improving healthcare services.

The aim of this study is to understand the paper diagnostics market, identify key drivers responsible for demand, and understand the flow of revenue in the industry. The report further focuses over key trends and to forecast the market growth based on current developments and by studying the prospective developments that can be anticipated to boost growth over the forecast period.

The paper diagnostics market is competitive with research institutes and companies who are aimed at developing alternatives highly beneficial to the consumers. A competitive study of these entities can provide valuable insights about strategic product positioning and new product development and to enhance market penetration.

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