Market Forecast Report on Home Testing Products 2017-2030
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Home testing products allow an individual to test a disease condition at home. The tests done at home are quick and confidential. Home testing can aid in detecting possible health conditions when there are no symptoms so that treatment can be started. It also lowers the chances of complications. Home tests also help monitor frequent changes in treatment and detect specific condition where there are no signs to allow immediate action. Home testing products are available for various diseases such as HIV, hepatitis, and many conditions such as pregnancy, diabetes, and cholesterol.
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The global home testing products market is anticipated to grow at a steady rate during the forecast period. Major factors driving the global home testing products market are these are quick and provide results within minutes. Additionally, home tests do not require frequent visit to physicians and laboratories, thereby making them preferable for patients across all age groups. Furthermore, growing awareness among people about home testing products for diagnosis of infectious diseases, increasing prevalence of infectious diseases, ease of use, and unhealthy lifestyle are the factors likely to propel the growth of the global home testing products market. According to the WHO, the global diabetes population will increase to 366 million by 2030. This is likely to positively impact the global home testing products market during the forecast period.
The global home testing products market has been segmented based on application, specimen, and region. In terms of application, the global home testing product market has been divided into pregnancy and fertility, cholesterol, blood glucose, infectious diseases, and others. The blood glucose segment held the largest share of the global home testing products market driven by higher prevalence of chronic illnesses such as diabetes, increase in awareness among patients about self-testing, rise in geriatric population, and unhealthy lifestyle. The pregnancy and fertility segment is expected to witness strong growth from 2016 to 2024 due to ease of use and rapid results. Based on specimen, the global market has been segmented into blood, urine, saliva, and others.
Geographically, the global home testing products market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated the global home testing product market in terms of value and volume, followed by Europe. North America is expected to continue to lead the market from 2016 to 2024 due to growing awareness among people about home based tests, unhealthy lifestyle, and increased prevalence of infectious diseases such as HIV, syphilis, and hepatitis and chronic illnesses. The market in Asia Pacific is expected to register highest growth rate owing to factors such as increase in population, rise in prevalence of infectious diseases, unhealthy lifestyle leading to chronic illnesses, and awareness about the technologies. Prevalence of infectious disease and emergence of new diseases in countries in Africa are likely to drive the home based testing products market in Middle East & Africa during the forecast period.
Major players operating in the global home testing product market are Abbott Laboratories, OraSure Technologies, Inc., F. Hoffmann-La Roche Ltd., Alere, Beckman Coulter, Inc., Siemens Medical Solutions USA, Abacus Diagnostics, Inc., Bio-Rad Laboratories, Inc., Trividia Health, Inc., Nipro, and bioMérieux SA among others. Key companies in the global home testing product market are expected to adopt strategies such as the launch of cost effective products and mergers. The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications. The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa) The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain. A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period. Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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