The global at-home diagnostics testing market is expected to witness a growth rate of 4.5% during the forecast period of 2022-2028. Tests that are carried out on human body samples, such as blood, saliva, and urine, in order to find illnesses or other disorders are known as in-vitro diagnostics or home diagnostics when performed at home. The fact that these tests are affordable, quick, and private makes them a preferable choice among patients. The technological advancements had resulted in the increased adoption of diagnostic kits for at-home use. The home diagnostics market is driven by various factors such as rising penetration of telemedicine, reduction in healthcare costs, and increased convenience owing to at-home use.
Moreover, at-home diagnostics is considered more confidential, cost-effective, and less time-consuming and is also available with cutting-edge technology such as Artificial Intelligence (AI) and the Internet of Things (IoT). Growing consumer interest in healthcare, particularly in metropolitan areas, has created profitable commercial opportunities. Demand is continually rising, on the back of a population that is predisposed to illnesses like obesity and diabetes.
Covid-19 has boosted the potential of the at-home diagnostics testing market
Based on test type, infectious disease testing is projected to exhibit a considerable growth rate during the forecast period. There is an evident shift toward preventive healthcare rather than curative medicines. The at-home diagnostic testing kits have made it easier for the global population to keep track of their well-being. As Covid-19 continues to necessitate social distancing, the at-home diagnosis testing market is anticipated to upsurge in the upcoming year.
Additionally, the increased need for self-testing and prerequisites for telemedicine for patients globally, are notable drivers of the growth in the at-home diagnostic testing market. The global population is aware of the importance of early detection of chronic diseases like diabetes, HIV, etc., owing to the emergence of Covid-19.
Moreover, the Covid-19 outbreak has also diverted the focus of major market players toward the development of rapid detection test kits like the real-time reverse transcriptase polymerase chain reaction (RT-PCR), which takes a few hours to detect the virus. Furthermore, the augmented demand for home-based minimally invasive confirmatory tests will escalate the market growth in the forecast period.
North America constitutes a dominant market share in the global at-home diagnostics testing market
North America holds a major share of the global at-home diagnostics testing market. North America is home to a multitude of home diagnostics kit manufacturers vying for customers’ attention. The growing prevalence of diseases like Covid-19, diabetes, hypertension, STD, cholesterol, etc. has created a demand for quick test kits that can be used at home.
The demand for home diagnostics test kits is burgeoning owing to the increased prevalence of various lifestyle-associated and infectious diseases including obesity and cancer and pregnancy among women. Owing to the increasing healthcare expenditure, expanding geriatric population, and prevalence of chronic diseases, Western Europe accounts for a sizeable share in the at-home diagnostics testing market. The Asia Pacific is also considered to be a lucrative market and is expected to obtain considerable growth during the forecast period.
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Market Structure and Competitive Landscape
The global at-home diagnostics testing market is fragmented in nature and some of the prominent players that contribute significantly to the global at-home diagnostics testing market include, Abbott Laboratories, Acon Laboratories Inc., Arkray Inc., Assure Tech Co. Ltd., Becton Dickinson & Company, Bionime corporation, BTNX Inc., Quidel Corporation, Trinity Biotech plc, Atlas Medical UK, Orasure Technologies, LifeScan Inc., Siemens Healthcare, Nova Biomedical, Taidoc Technology Corporation, F.Hoffmann-La Roche Ltd., B.Braun Melsungen AG, Troge Medical Gmbh, Trividia Health Inc. and Prima Lab among others.
Product Launches, Mergers & Acquisitions, joint ventures, and R&D activities are key strategies adopted by the players in the At-Home Diagnosis Testing Market. These companies adopt numerous approaches to strengthen their market share and gain a competitive edge over other competitors in the market. Some of the key developments in the At-Home Diagnosis Testing market include,
- In August 2022,LordsMed, the pharma division of Lord’s Mark Industries Pvt. Ltd. entered into an “exclusive partnership” with Singapore-based diagnostics kit manufacturer Sensing Self Pte. Ltd. to bring the world’s first Covid-19 saliva-based rapid antigen test kit to India.
- In February 2020, Becton, Dickinson & Company collaborated with Babsons Diagnostic, a transformative diagnostic blood-testing company, to bring laboratory-quality, small volume blood collection to retail pharmacies.
Key Market Segmentation
RationalStat has segmented the global at-home diagnostics testing market on the basis of test type, sample type, distribution channel, and region.
- By Test Type
- Glucose Monitoring
- Blood Pressure Monitoring
- Cholesterol Detection
- Pregnancy Detection
- Allergies & Intolerances
- Infectious Disease Testing
- Fertility, Ovulation, and Sexual Health
- Drug Abuse Testing
- By Sample Type
- By Distribution Channel
- Drug Stores (incl. Retail Pharmacies)
- Hospitals Pharmacies
- By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East & Africa
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for at-home diagnostics testing kits manufacturers, third-party distributors, suppliers, dealers, medical device manufacturers, the healthcare industry, government organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The Global At-Home Diagnostics Testing market is expected to grow at a CAGR of over 4% during the forecast period 2022-2028.
The Global At-Home Diagnostics Testing market is estimated at around US$ 5.2 billion in 2021.
The Global At-home diagnosis testing market is primarily driven by the growing geriatric population and growing demand need for early detection of chronic diseases.
North America is the leading region in the market.
Major companies operating in the Global At-Home Diagnostics Testing market include, Abbott Laboratories, Acon Laboratories Inc, Arkray Inc, assure tech co ltd, Becton Dickinson & Company, Bionime corporation, BTNX inc, Quidel corporation, trinity biotech plc, atlas medical UK, Orasure Technologies, LifeScan Inc, Siemens Healthcare, Nova Biomedical, Taidoc Technology corporation, F.Hoffmann-La Roche ltd, B.Braun Melsungen AG, Troge Medical Gmbh, Trividia Health Inc and Prima Lab among others.