The Paper Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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In the realm of Paper Diagnostics, meticulously analyzed by The Business Research Company, the market has exhibited robust growth. Surging from $9.16 billion in 2023 to an anticipated $10.01 billion in 2024, the market showcases a commendable compound annual growth rate (CAGR) of 9.2%. This substantial expansion during the historic period is underpinned by various factors, including the imperative need for affordable healthcare, a global focus on health crisis preparedness, the utility of point-of-care testing for chronic diseases, diagnostic applications in resource-limited settings, the urgency of rapid results for timely decision-making, and an amplified emphasis on preventive healthcare.

Looking ahead, the Paper Diagnostics market is poised for strong growth, reaching an estimated valuation of $14.49 billion in 2028, reflecting a notable CAGR of 9.7%. This anticipated surge in the forecast period is attributed to key factors such as advancements in paper-based biosensors, seamless integration with wearable health devices, the burgeoning growth in personalized medicine, the expanding realm of telehealth services, a growing demand for early cancer detection, the widening scope of veterinary diagnostics, and government initiatives fostering preventive healthcare. Salient trends in this envisaged period encompass continuous advancements in paper-based technologies, the convergence of technologies in diagnostics, the proliferation of chronic disease management apps, the integration of multiplexing capabilities, the utilization of microfluidics in paper devices, and the seamless integration of smartphone technology into the diagnostic landscape. This confluence of factors not only underscores the pivotal role of Paper Diagnostics in the healthcare domain but also positions it as a key enabler for accessible, timely, and preventive healthcare solutions globally.

Increased prevalence of heart diseases is expected to propel the paper diagnostics market going forward. Any condition that has an impact on the cardiovascular system is referred to as heart disease. A sensitive and quick microfluidic paper-based device (PAD) helps in the simultaneous detection of numerous cardiac biomarkers for the early and late diagnosis of acute myocardial infarction, as a result, the increased prevalence of heart diseases increases the demand for paper diagnostics. For instance, in August 2023, according to Statistics Canada, a Canada-based government organization, in 2021, fatalities resulting from heart disease in Canada amounted to 17.7% (55,271), marking an increase from the 1.6% recorded for heart disease-related deaths in 2020. Therefore, the increased prevalence of heart diseases is driving the growth of the paper diagnostics market.

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The paper diagnostics market covered in this report is segmented –
1) Paper Diagnostics Market By Product: Dipsticks, Lateral Flow Assays: Paper Based Microfluidics
2) Paper Diagnostics Market By Device Type: Monitoring Devices, Diagnostic Devices
3) Paper Diagnostics Market By Application:Environmental Monitoring, Clinical Diagnostics, Food Quality Testing
4) Paper Diagnostics Market By End-User: Home Healthcare, Assisted Living Healthcare Facilities, Hospital And Clinics

Major companies operating in the paper diagnostics market are focusing on advancement for POC test. In August 2023, Mylab Discovery Solutions, an India-based Mylab Discovery Solutions, launched two rapid point-of-care tests for detecting dengue infections: the rapid gold test and the high-accuracy dry luminescence assay test. These tests provide results within 15-20 minutes without the need for a laboratory setup. They can aid in determining the stage and progression of the infection, supporting dengue screening programs in resource-limited regions. The tests differentiate between IgM and IgG antibodies, offering healthcare professionals accurate tools for timely diagnosis and effective disease management.

The paper diagnostics market report table of contents includes:

1. Executive Summary

2. Paper Diagnostics Market Characteristics

3. Paper Diagnostics Market Trends And Strategies

4. Paper Diagnostics Market - Macro Economic Scenario

5. Global Paper Diagnostics Market Size and Growth

.....

31. Global Paper Diagnostics Market Competitive Benchmarking

32. Global Paper Diagnostics Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Paper Diagnostics Market

34. Paper Diagnostics Market Future Outlook and Potential Analysis

35. Appendix

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