Blood test is the most basic diagnostic method used to determine the malfunctioning of human bodily systems. Regular blood tests are easiest way of keeping track of one’s health.
It is imperative to have regular blood tests for well-being in general and to make informed decisions about health in particular. Blood tests are also pivotal in reducing risk of various diseases or complications associated with it.
Hence, home blood testing devices hold a very important role in this changing times of increased accessibility and independence.COVID-19 pandemic has been known to affect different people with varying severity.
People with already compromised immune system are most certainly at higher risk of mortality. For such vulnerable population visiting hospital even for a simple blood test could be counter-productive and can put them at a high risk.
Home blood testing devices could come in very handy for people with such problems and eliminate the danger of cross-infection. Thus, COVID-19 can be expected to have a positive impact on the global home blood testing devices market.
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Home Blood Testing Devices Market: Drivers and Restraints
With increasing prevalence of global incidences of heart conditions, oncological conditions, cholesterol levels, blood sugar levels among others highlight the growing importance of blood tests requirements. This trend can be a major push factor in the global home blood testing devices market.
Increasing demand of people to become self-sufficient for general well-being and routine health check-up can drive the demand in the global home blood testing devices market. Ease of access and usability coupled with faster results will also led the global home blood testing devices market to grow steadily.
Versatility of blood test in terms of detecting abnormality in functioning of heart, thyroid gland, kidneys together with detecting sexually transmitted diseases, total blood count, basic metabolic panel, lipid profile, enzyme profile can drive the global home blood testing devices market.
Lastly, technological advancements making home blood testing devices more patient-friendly would further spur the growth of the global home blood testing devices market. Lack of sophistication and technology illiteracy among the population of third world countries can hinder the growth of global home blood testing devices market.
Unawareness about the existence of such remote home blood testing devices could also slow the growth momentum of the global home blood testing devices market.
Home Blood Testing Devices Market: Overview
There is a growing prevalence of diseases like diabetes, heart conditions, cancer, bacterial infections worldwide which would require blood test for diagnosis and treatment resulting in overall growth in the global home blood testing devices market.
Based on indication type, heart condition testing can be expected to growth fastest in the global home blood testing devices market owing to the fact the cardiovascular diseases are the leading cause of death globally. Cancer testing segment in the indication type may be expected to be the second most lucrative segment as cancer related prevalence come second only to cardiovascular disorders globally.
Based on the distribution channel type, drug store type can be expected to register maximum growth in the global home blood testing devices market as it can be expected to witness high patient footfall.
Home Blood Testing Devices Market: Region-wise Outlook
North America can be estimated to the dominant market in the global home blood testing devices market owing to growing elderly population together with greater awareness among people for regular health check-ups. Europe can be pegged as the second most attractive market in the global home blood testing devices market because of the growing geriatric population.
South Asia and East Asia will also be lucrative market for the global home blood testing devices market due rising awareness and affordability for healthcare in the regional population.
Home Blood Testing Devices Market: Key Players
The key players operating in the global home blood testing devices market are
- Athelas
- PixCell Medical
- Nanogenecs
- pts Diagnostics
- Tasso
- Cue
- Abbott
- D&A health
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