The at-home testing industry is poised for significant growth, projected to reach a valuation of US$ 7.1 billion in 2022 and anticipated to expand at a Compound Annual Growth Rate (CAGR) of 4.0% to reach US$ 10.5 billion by the end of 2032, according to a recent analysis by Future Market Insights.
Digital monitoring system products are expected to take the lead in the global at-home testing market, capturing a substantial share of approximately 46.7% in 2021. This surge in demand for digital monitoring systems reflects the growing preference for convenient and accessible healthcare options among consumers.
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The At-Home Testing Market encompasses a range of medical and diagnostic tests designed for individuals to conduct in the comfort of their homes. These tests aim to provide a user-friendly alternative to traditional healthcare services, eliminating the need for visits to healthcare facilities or laboratories.
This surge in the at-home testing market underscores the increasing demand for healthcare solutions that prioritize convenience and accessibility. As technological advancements continue to drive innovation in the medical field, the at-home testing industry is expected to play a pivotal role in shaping the future of personalized healthcare.
At-home testing has gained significant popularity in recent years due to advancements in technology, increased consumer demand for self-care, and the convenience it offers. It allows individuals to monitor their health, screen for certain conditions, and track various biomarkers without the need for a healthcare professional’s intervention.
Key Takeaways:
- The global at-home testing market is expected to reach US$ 10.5 billion by 2032, growing at a CAGR of 4.0% from 2022 to 2032.
- The market is driven by the increasing prevalence of chronic diseases, the growing geriatric population, and the rising demand for preventive healthcare.
- Infectious disease tests are the largest segment of the market, accounting for over 50% of the global revenue in 2022.
- Online channels are the largest distribution channel, accounting for over 60% of the global revenue in 2022.
- The North American market is the largest regional market, accounting for over 40% of the global revenue in 2022.
Drivers of Growth:
The at-home testing market is driven by a number of factors, including:
- The increasing prevalence of chronic diseases: Chronic diseases such as diabetes, heart disease, and cancer are becoming increasingly common around the world. This is driving the demand for at-home testing kits for these conditions.
- The growing geriatric population: The geriatric population is the fastest growing age group in the world. Older adults are more likely to have chronic diseases, which is driving the demand for at-home testing kits in this age group.
- The rising demand for preventive healthcare: People are becoming more aware of the importance of preventive healthcare. At-home testing kits can help people to identify health problems early on, when they are most treatable.
By Prominent Market Players:
- Becton, Dickinson, and Company
- Abbott
- ACCESS BIO
- CELLTRION INC.
- Siemens Healthcare GmbH
- ACON Laboratories Inc.
- ARKRAY, Inc
- Hoffmann-La Roche Ltd.
- OraSure, Technologies Inc.,
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At-Home Testing Market: Segmentation:
Detailed analysis on the geographical region and country wise insights are offered in the latest At-Home Testing Market report with established Market players as well as incumbents in the region.
By Product:
- Digital Monitoring Instruments
- Cassettes
- Midstream
- Strips
- Cups
- Dip Cards
- Test Panels
- Sample collection kits
- Others
By Application:
- Blood Glucose Testing
- Pregnancy & Fertility Testing
- Cancer Testing
- STD/ STI Testing
- Chlamydia and Gonorrhoea
- HIV Testing
- Testosterone
- Drug Abuse Testing
- Cholesterol Testing
- Thyroid Testing
- Others
By Sample:
- Urine
- Blood
- Saliva
- Stool
- Vaginal Swab
- Semen
By Distribution Channel:
- Drug Stores
- Hospital Pharmacies
- Online Channels
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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