At Home Diagnostics Market Global Trends, Market Share, Industry Size, Growth
Posted by Riddhi ochani on November 7th, 2019
The global at home diagnostics market is calculated to value over US$ 6 billion the end of 2026 and register at a CAGR of over 3% during the forecast period of 2019-2026.
Home Diagnostics are tests which are performed on samples which are collected from the human body. The samples include urine, blood and saliva. Home Diagnostics is also known as vitro diagnostics and is used to detect medical conditions or diseases at home without the help of any professional medical. The distinctness and accurateness of these tests play a significant role in the performance of home diagnostics. Home diagnostics are commonly available in the form of cassettes, strips, digital monitoring instruments, cups, and dip cards.
Increase in the epidemic diseases has made the general population turn their attention towards curative medicines which have led to the growth of the market. Increasing per capita healthcare expenditure because of the increase in the standard of living has led to the huge growth of the market. Aggressive online marketing and promotional strategies online have further fuelled the market. Manufacturers are using the online market to endorse the products and it's been effective in providing growth of home diagnostics. Widespread in technology and growth in the geriatric population have further fuelled the market. However, low health awareness in developing nations like India, Middle East and African countries is proving to be a restraint for the development of the market. Also, high cost is required for upgrading the product and production which also acts as a restraint.
North America and Europe dominated the global market due to high awareness among the general population. In North America, the US holds 90% market share because of high adoption. In Europe, France, Germany and UK control the global market due to high penetration among the general population. The Asia Pacific and Latin America is the most opportunistic market for manufacturers due to the large patient population. They both are expected to witness high growth rate during the forecast period. Rest of the World accounts the small fraction of the market and it is expected to account more share during the later phase of the forecast period.
Home Diagnostics Market Restraints
• Low health awareness in developing countries
• High cost required for production and product upgrade
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Home Diagnostics Market Segmentation
By Application:
• Allergy Detection
• Fertility test
• Infectious testing
• Cholesterol testing
• Others
By Distribution Channel:
• Retail Pharmacies
• Institutional Distribution
• Online Pharmacies
By Region:
• North America
• Latin America
• Europe
• Asia-Pacific
• Rest of the World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Futurewise Key Takeaways
• Growth Prospects
• SWOT Analysis
• Key Trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global at home diagnostics market by application, by distribution channel, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies
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