30-50% of consumers prefer using at-home diagnostics for various conditions, and global self-testing kits market revenues are set to grow 2x by 2030 – these are the findings of a new study by Future Market Insights (FMI).
Key Findings of the Study
- Global revenues will grow at 5.5% CAGR over forecast period, 2020-2030
- Blood glucose testing to hold prominent share in self-testing market, owing to high prevalence rate of diabetes
- Self-testing kits for testing urine and blood samples to account for greater demand through 2030
- Retail and online pharmacies, will collectively capture nearly 60% revenue share
- High-growth markets in APAC to witness heightened activity
Request a report sample to gain comprehensive insights at
https://www.futuremarketinsights.com/reports/sample/rep-gb-7914
“Lack of trust on accuracy and quality and reluctance of individuals to address health issues are key challenges before self-testing market players. Bringing regulations to effect, abidance with prevalent accreditations, and developing transparent solution to fulfil diagnostic requirements of individuals are the order of the day,” says analyst at FMI.
COVID-19 Impact on Self-testing Market
In wake of the COVID-19 pandemic, movement restrictions (lockdown) and mass testing have become key measures to control the virus contagion. To achieve the objective, self-testing kits are emerging as a cost-effective way to reach wider sections of society.
Realizing their potential, government agencies such as the Food and Drug Administration (FDA) are granting rapid approvals to at-home COVID-19 test kits, for instance,
- LabCorp – company that has network of medical labs across the US – has developed at-home COVID-19 test kit that will bring coronavirus testing to doorsteps of every household.
- Everlywell – a health and wellness company – has designed at-home COVID-19 testing kit that enables individuals to self-collect nasal samples at respective homes and send them to designated laboratories for diagnostic testing. The offering has received emergency use authorization from the FDA.
For any Queries Related with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-7914
Authorization of COVID-19 at-home collection kits that will be used with multiple tests at multiple labs offers better patient access to tests as well as protects people from potential spread.
Self-testing for COVID-19 as a novel clinical pathway will demand for proactive monitoring and analysis for efficiency. However, realizing the existing restricted state of access to testing for significant number of individuals, risk of inaction will be a major concern.
Self-testing Market – Competitive Intelligence
The global self-testing market is highly consolidated with top 5 years accounting for over three-fourths of total market revenue. Leading players are highly focusing on mergers & acquisitions (M&A) to remain competitive in global landscape. Case in point,
- Procter & Gamble (P&G) has acquired This is L. Inc. – which is among fastest growing feminine care brands in the US – in order to further its commitments to support women and girls as well as its existing feminine care portfolio.
- Ascensia Diabetes Care Holdings AG has teamed up with POCtech Co. Ltd.to co-develop and distribute continuous glucose monitoring systems.
- bioMérieux – global leader in vitro diagnostics – has entered into an agreement with Baxter International Inc. – world leader in acute care – to design future biomarkers with the aim to rapidly recognize and offer treatment for acute kidney injury.
- Siemens Healthineers has taken -based Fast Track Diagnostics (FTD) (Luxembourg), which is global supplier of molecular diagnostic tests.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-7914
Want more insights?
Future Market Insights, in its new study, provides compelling insights about the self-testing market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on self-testing market through five different categories – product type, application, sample type, distribution channel, and region. The global self-testing market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of self-testing products and product adoption in various end users.
Explore FMI’s Extensive ongoing Coverage on Healthcare Domain
Pancreatic Stone Protein Testing Market – Different pancreatic secretory proteins have been identified in the last decade. That is protein X, human pancreatic thread protein (PTP), and pancreatic stone protein (PSP). Among them, pancreatic stone protein has been reported to play a crucial role in the development of pancreatic stone.
Platelet Function Test Market – Platelets are small cells in the blood responsible for clotting of the damaged blood vessels. Blood vessels are responsible for carrying blood through the body. In an event when blood vessels are damaged, platelets bind together at the damaged surface and clot the area, preventing blood loss.
Preimplantation Genetic Testing Market – Preimplantation genetic testing or preimplantation genetic diagnosis is a technique in which the embryos prepared through in vitro fertilization are tested for defects before implantation.
Point-Of-Care Genetic Testing Market – Point-of-Care testing is defined as the clinical testing performed at or near the site where clinical care is being given to the patient. It can be performed by patients itself or any personnel.
Poultry Diagnostic Testing Market – “Poultry” is defined as livestock that are chickens, turkeys, ducks, waterfowl and other birds raised in the farm, excluding pigeons and doves. Diagnostic testing may incorporate ELISA Test, PCR Test other diagnostic tests.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/