Frequently Asked Questions:
The global Paper Diagnostics market was valued at USD 6.9 Billion in 2022.
The Paper Diagnostics market is estimated to grow at an 8.50% CAGR between 2023 and 2030, reaching USD 12.21 billion in 2030.
In terms of product, lateral flow assays lead the global market for paper diagnostics.
Diagnostic devices dominate the device type category of the paper diagnostic market.
The home healthcare segment is predicted to have the greatest CAGR during the forecast period.
North America is driving the growth of the Paper Diagnostics industry with a 42.60% share in 2022.
The top players include ARKRAY, Inc., ACON Laboratories, Inc., Abbott, GVS S.p.A, and Siemens. Other major players include Diagnostics for All, Inc., Bio-Rad Laboratories, Inc., and Merck KGaA.
Autoimmune diseases are becoming more common, and the prevalence of disorders that paper diagnostics can diagnose is rising, driving the market growth.
The absence of a particular regulatory framework and the limited quantitative applications for paper diagnostics are restraining the market growth.
The paper diagnostics market provides significant growth opportunities, including government R&D spending and technical improvements, as well as the integration of paper diagnostics with digital technology.