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At-Home Testing Kits Market Is Growing Steadily With A 6.6% CAGR In The Coming Years | Douglas Insights

Douglas Insights
Douglas Insights

Some of the key global players that have been actively setting the trends in the at-home testing kits market are Atlas Medical UK, Siemens Healthcare GmbH, Nova Biomedical, Rapikit, Abbott, and AccuBioTech Co., Ltd. Eurofins Scientific, Everlywell, ACON Laboratories, F. Hoffmann-La Roche Ltd, and ARKRAY USA among others are also contributing to the new trends in the market.

Isle of Man, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Douglas Insights is making new waves with its new digital tool, the first ever comparison engine for market research reports. The at-home testing kits market has recently made it to the vast library of market research reports. The market research reports highlight the latest market trends, opportunities, driving factors, and significant restraints that researchers, field experts, and businesses could use to make predictions and get further market insight. Douglas Insights’ Comparison Engine compares different private and public market reports based on price, publication date, and table of contents, amongst other things.

Market Insights

At-home testing kits are testing equipment that customers can use at home to perform rapid tests and get instantaneous results. There’s no need for expert supervision if the procedure, written in the instruction manual that’s packaged in the kit, is performed correctly. The simplified at-home testing is cost and time effective with immediate results. Some complex testing also allows customers to send in the fluid samples to certified laboratories for in-depth results. Diabetes, pregnancy, infections, and recently Covid-19 are some primary clinical conditions that are diagnosed or monitored using at-home testing kits.

The Covid-19 global pandemic contributed to the surge in demand for at-home DIY testing kits as social contact was prohibited. People needed home-based solutions for rapid testing, including testing for Covid-19, where rapid diagnosis could significantly contribute to increasing survival chances. Major pharmaceutical companies manufactured Covid-19 DIY testing kits to help in practical and timely diagnosis during the pandemic leading to market growth that will continue till 2029 at a CAGR of 6.6%.

Apart from Covid-19, the self-testing kits’ affordable rates and easy accessibility through online pharmacies contributed to the growth of the at-home testing kits market. The at-home easy testing kits saved the fees and transportation charges involved with traditional doctor visits while also saving time spent waiting for the test results. Besides that, major online and traditional pharmacies contributing to the widespread availability of self-testing kits also don’t require an official prescription. The medical devices involved in testing are seeing a rise in the use of AI, which will continue to introduce new trends in the market.

Despite the increased demands for self-testing kits, a significant concern that could impede the market’s growth is the inaccuracy of the results produced by the DIY testing kits. The prevalent issue has led to a faulty diagnosis that contributes to increased stress in people and also the costs that follow when the patients seek proper treatment or procedures associated with the diagnosed infection or condition. Due to inaccurate and invalid results, numerous unreliable testing kits are already off the shelves. Hence, key market players must focus on ensuring this aspect of the at-home testing kits to boost market growth.

The rise of at-home testing in the Asia-Pacific region has been a major part of the overall market growth. While China is leading the region’s market growth, countries like India, Malaysia, Australia, and Japan are not far behind.

The self-testing kits are categorised based on age, sample type, test type, distribution channel, usage, and type. Hence, the market is segmented based on these categories. Glucose testing, paediatric tests, urine sample tests, strip-based tests, disposable tests, and tests bought from online pharmacies are some of the most prevalent tests sold in the market.

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Key players

Some of the key global players that have been actively setting the trends in the at-home testing kits market are Atlas Medical UK, Siemens Healthcare GmbH, Nova Biomedical, Rapikit, Abbott, and AccuBioTech Co., Ltd. Eurofins Scientific, Everlywell, ACON Laboratories, F. Hoffmann-La Roche Ltd, and ARKRAY USA among others are also contributing to the new trends in the market.

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At-Home Testing Kits Market Report Coverage

Report Attributes

Details

Market Size in 2020

US$ ** BN

Market Size Projection in 2030

US$ ** BN

CAGR 2020-2029

 6.6%

Largest Market

North America

Report Segmentation

By Type, By Age, By Sample Type, By Usage, By Distribution, By Region

Regional Analysis

North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa)

Key Companies Covered

Atlas Medical UK, Siemens Healthcare GmbH, Nova Biomedical, Rapikit, Abbott, and AccuBioTech Co., Ltd. Eurofins Scientific, Everlywell, ACON Laboratories, F. Hoffmann-La Roche Ltd, and ARKRAY USA

Segmentations

Test Type

  • Pregnancy Test

  • HIV Test Kit

  • Diabetes

  • Infectious Diseases

  • Glucose Tests

  • Ovulation Predictor Test Kit

  • Drug Abuse Test Kit

  • Others

Type

  • Cassette

  • Strip

  • Midstream

  • Test Panel

  • Dip Card

  • Others

Age

  • Pediatric

  • Adult

  • Geriatric

Sample Type

  • Urine

  • Blood

  • Saliva

  • Others

Usage

  • Disposable

  • Reusable

Distribution Channels

  • Retail Pharmacies

  • Drug Store

  • Supermarket/Hypermarket

  • Online Pharmacies

Key questions answered in this report

  • COVID 19 impact analysis on global At-Home Testing Kits industry.

  • What are the current market trends and dynamics in the At-Home Testing Kits market and valuable opportunities for emerging players?

  • What is driving At-Home Testing Kits market?

  • What are the key challenges to market growth?

  • Which segment accounts for the fastest CAGR during the forecast period?

  • Which product type segment holds a larger market share and why?

  • Are low and middle-income economies investing in the At-Home Testing Kits market?

  • Key growth pockets on the basis of regions, types, applications, and end-users

  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

Unique data points of this report

  • Statistics on At-Home Testing Kits and spending worldwide

  • Recent trends across different regions in terms of adoption of At-Home Testing Kits across industries

  • Notable developments going on in the industry

  • Attractive investment proposition for segments as well as geography

  • Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)

Table of Content:

1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY

1.2 MARKET DEFINITION

1.3 OVERVIEW OF GLOBAL AT-HOME TESTING KITS MARKET

1.4 LIMITATIONS

1.5 MARKETS COVERED

2 MARKET SEGMENTATION

2.1 MARKETS COVERED

2.2 GEOGRAPHICAL SCOPE

2.3 YEARS CONSIDERED FOR THE STUDY

2.4 CURRENCY AND PRICING

2.5 DBMR TRIPOD DATA VALIDATION MODEL

2.6 MULTIVARIATE MODELLING

2.7 GLOBAL AT-HOME TESTING KITS MARKET, BY TEST TYPE

2.8 MARKET POSITION COVERAGE GRID

2.9 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS

2.1 DBMR MARKET POSITION GRID

2.11 DISTRIBUTOR CHANNEL ANALYSIS

2.12 SECONDARY SOURCES

2.13 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 PESTEL ANALYSIS

4.2 PORTER'S FIVE FORCES

5 GLOBAL AT- HOME TESTING KITS MARKET: REGULATIONS

5.1 REGULATION IN U.S

5.2 GUIDELINES FOR SELF-TESTING KITS

5.3 REGULATION IN EUROPE

5.4 GUIDELINES FOR TESTING KITS

5.5 REGULATION IN INDONESIA:

6 MARKET OVERVIEW

6.1 DRIVERS

6.1.1 GROWING ADOPTION OF SELF-TESTING KITS

6.1.2 EASY AVAILABILITY OF SELF-TESTING KITS AT PHARMACIES

6.1.3 INCREASE IN AWARENESS ABOUT THE IMPORTANCE OF HIV DIAGNOSIS

6.1.4 EASE OF USE AND LOW COSTS OF RAPID SELF-TEST KITS

6.2 RESTRAINTS

6.2.1 INACCURACY OF RESULTS BY SELF-TESTING KITS

6.2.2 STRINGENT GOVERNMENT REGULATIONS FOR MANUFACTURING AND DISTRIBUTION OF TESTING KITS

6.3 OPPORTUNITIES

6.3.1 ADVENT OF ADVANCED TECHNOLOGIES

6.3.2 EMERGING NEED FOR RAPID TESTING KITS FOR COVID-19 PANDEMIC

6.3.3 STRATEGIC INITIATIVES OF KEY PLAYERS

6.4 CHALLENGES

6.4.1 HIGH COMPETITION IN THE MEDICAL TECHNOLOGY INDUSTRY

6.4.2 REDUCTION IN RESEARCH & DEVELOPMENT BUDGETS

…………… Table of content continued

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