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Home Diagnostics Market Size is Forecasted to Reach US$ 8.15 billion by 2030

The global home diagnostics market size is forecasted to reach from US$ 5.42 billion in 2021 to US$ 8.15 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 4.6% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2021 to 2030. The home diagnostics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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Market Overview

The home diagnostics market study conducted by Precedence Research is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies make informed decision to sustain growth through the assessment period.

The global home diagnostics market is primarily driven by the growing need for the diagnostics due to the rising prevalence of various chronic diseases and growing geriatric population across the globe. The technological advancements had resulted in the increased adoption of the diagnostic kits for at-home use. The home diagnostics market is driven by various factors such as rising penetration of telemedicine, reduction on healthcare costs, and increased convenience owing to at-home use.

Moreover, the increased adoption of the home diagnostics can reduce the burden on the healthcare systems. The increasing number of diabetes cases among the population at an alarming rate is boosting up the demand for the home diagnostics.According to the World Health Organization, around 1.5 million deaths were directly linked to the diabetes in 2019 and around 2.2 million deaths were linked to high blood glucose in 2012. According to the International Diabetes Federation, around 700 million people will have diabetes around the globe, by 2045. Similarly, home diagnostics demand is burgeoning owing to the rising need for monitoring cancer survivors and pregnancy among the women.

Report Scope of the Home Diagnostics Market

Report Coverage Details
Market Size USD 8.15 Billion by 2030
Growth Rate CAGR of 4.6% From 2021 to 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Test Type, Form, Distribution Channel, Geography

Competitive Landscape Analysis:

Some of the leading companies operating in the home diagnostics market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Major companies operating in this report are

  • Abbott Laboratories
  • BTNX, Inc.
  • Becton Dickinson & Company
  • ACON Laboratories, Inc.
  • ARKRAY Inc.
  • Roche Holding AG
  • Assure Tech
  • SA Scientific
  • Zeotis Inc.
  • Bionime Corporation
  • Quidel Corporation

Market Dynamics

Driver

Rising number of cancer survivors and increasing prevalence of chronic diseases

The globe is witnessing a surge in the prevalence of various chronic diseases such as cancer, diabetes, cholesterol, and many others, which needs to be frequently monitored in order to manage the health. As per the data published by the US National Cancer Institute, the number of cancer survivors is expected to reach over 22 million by 2030 in US. .According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally. The cancer survivors need to be monitored frequently. Hence, the growing need for monitoring cancer survivors is expected to drive the market during the forecast period.

Restraints

Low affordability in the low and middle income countries

The high cost of home diagnostics and low affordability of the consumers in the underdeveloped and developing nations are the major factors that may restrict the market growth during the forecast period.

Opportunities

Introduction of AI

The rapid growth and popularity of the latest technologies like artificial intelligence (AI) in the home diagnostic kits is expected to provide personalized services to the users and hence is anticipated to drive the market growth in the forthcoming future.

Challenges

Lack of awareness in the underdeveloped and developing nations

There is a lack of awareness among the population regarding the home diagnostics especially in the underdeveloped and developing nations. The high capital investments involved in the advertisements is a key challenge for the market players.

Report Highlights

  • Based on the test type, the glucose monitoring devices segment dominated the market in 2020. This can be attributed to the increased adoption of home diagnostics among the diabetic population to regularly monitor blood glucose levels. According to the International Diabetes Federation, around 700 million people are estimated to be living with diabetes by 2045. Hence, an alarming rise in the diabetic population owing to unhealthy food habits is fostering the growth of this segment.
  • Based on the form, the cassettes segment dominated the market in 2020. Cassettes is the most commonly and extensively used form of home diagnostics device owing to the increased awareness regarding it among the global population. It also offers ease of use and low cost, which had resulted in its dominance.
  • Based on the distribution channel, the online pharmacies segment is estimated to be the most opportunistic segment during the forecast period owing to the surging penetration of online pharmacies across the globe. Moreover, rapidly surging internet users and growing adoption of smartphones has a significant role to play in the market growth. Further, the easy payment and home delivery options offers convenience to the consumers.

Regional Snapshot

North America dominated the global home diagnostics market in 2020. Around 60% of the US population is suffering from at least one chronic diseases and the geriatric population is also on rise in US. These are two prominent factors that boosts the adoption of the home diagnostics among the North American population. US holds a market share of around 90% in North America, owing to the increased disposable income of the consumers, increased awareness regarding the home diagnostics, and rising incidences of chronic diseases. Further, the increased penetration of retail pharmacies in the region has significant contributions in the distribution of the home diagnostics. The increased investments of the market players on the advertisements have fueled the demand.. For instance, Ancestry.com, an online provider of genetic testing kits, invested around US$ 109.0 million on TV ads in US, in 2016.

Asia Pacific is projected to be the fastest-growing market during the forecast period. The rising prevalence of chronic diseases and growing geriatric population coupled with increased health consciousness is expected to propel the market growth. According to the WHO, around 80% of the global geriatric population will be living in the low and middle income countries by 2050.

Segments Covered in the Report

By Test Type

  • Glucose Monitoring Devices
  • Pregnancy Test
  • Ovulation Predictor Test Kits
  • HIV Test Kits
  • Cholesterol Detection Kits
  • Infection Testing Kits
  • Drug of Abuse Test Kits
  • Others

By Form

  • Cassettes
  • Midstream
  • Instruments
  • Strips
  • Test
  • Digital Monitoring
  • Dip Cards

By Distribution Channel

  • Retail Pharmacies
  • Drug Stores
  • Hypermarket & Supermarkets
  • Online Pharmacies

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global home diagnostics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for home diagnostics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Home Diagnostics Market 

5.1. COVID-19 Landscape: Home Diagnostics Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Home Diagnostics Market, By Test

8.1. Home Diagnostics Market, by Test Type, 2021-2030

8.1.1. Glucose Monitoring Devices

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Pregnancy Test

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Ovulation Predictor Test Kits

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. HIV Test Kits

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Cholesterol Detection Kits

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Infection Testing Kits

8.1.6.1. Market Revenue and Forecast (2019-2030)

8.1.7. Drug of Abuse Test Kits

8.1.7.1. Market Revenue and Forecast (2019-2030)

8.1.8. Others

8.1.8.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Home Diagnostics Market, By Form

9.1. Home Diagnostics Market, by Form, 2021-2030

9.1.1. Cassettes

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Midstream

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Instruments

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Strips

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Test

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Digital Monitoring

9.1.6.1. Market Revenue and Forecast (2019-2030)

9.1.7. Dip Cards

9.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Home Diagnostics Market, By Distribution Channel 

10.1. Home Diagnostics Market, by Distribution Channel, 2021-2030

10.1.1. Retail Pharmacies

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Drug Stores

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Hypermarket & Supermarkets

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Online Pharmacies

10.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Home Diagnostics Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Test (2019-2030)

11.1.2. Market Revenue and Forecast, by Form (2019-2030)

11.1.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Test (2019-2030)

11.2.2. Market Revenue and Forecast, by Form (2019-2030)

11.2.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Test (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Form (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Test (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Form (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Test (2019-2030)

11.3.2. Market Revenue and Forecast, by Form (2019-2030)

11.3.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Test (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Form (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Test (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Form (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Test (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Form (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Test (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Form (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Test (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Form (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Test (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Form (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

Chapter 12. Company Profiles

12.1. Abbott Laboratories

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. BTNX, Inc.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Becton Dickinson & Company

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. ACON Laboratories, Inc.

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. ARKRAY Inc.

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Roche Holding AG

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Assure Tech

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. SA Scientific

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Zeotis Inc.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Bionime Corporation

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. Quidel Corporation

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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