Home Diagnostics Market Size | Share | Trends | Growth | Scope | Outlook | Opportunities | Forecast Period

Home Diagnostics Market Size | Share | Trends | Growth | Scope | Outlook | Opportunities | Forecast Period

The home diagnostics kit market will grow at a rate of 7% over the period from 2022 to 2027. Home diagnostics is gaining popularity around the world at an excellent pace, and it is a burgeoning market. Due to the very advanced technology in this sector, users can check and monitor health with home diagnostics kits in their homes’ comfort. This includes checking glucose levels, blood samples, cholesterol, etc.

 

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Market Drivers

Home diagnostic kits are cost-effective, confidential, and less time-consuming. They now come with cutting edge technology such as Artificial Intelligence (AI) and Internet of Things (IoT). Home diagnostics have changed the overall diagnostics space, making the procedure simple to be executed from home. The residents of developed countries such as North America and Europe are the home diagnostics kit’s significant consumers.

Adopting these kits has helped gain a lot of traction in recent years due to the economic cost. The maximum market share of the home diagnostic kits market was held by the United States in North America, contributing around 40% of the market revenue and growing over the coming years. There is high usage of home diagnostics kits in Europe, the United Kingdom, France, and Germany.

Due to modern and fast-paced lifestyles diseases such as diabetes have become more prevalent. This is the primary driver increasing the adoption of home diagnostics kit as it allows more individuals to monitor their blood sugar levels at home.

 

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Due to the multitude of manufacturers of home diagnostic kits in the United States, it is the leading market for home diagnostic kits. There is a high prevalence of diseases such as obesity, and this is from teenagers to senior citizens. This has created a demand for quick tests that can be used at home. In Canada, the market for home diagnostic kits is projected to increase rapidly over the coming years.

Market Segmentation

By Application

  • Allergy Detection
  • Fertility Testing
  • Infectious Diseases
  • Cholesterol Testing
  • Others

By Distribution Channel

  • Retail Pharmacies
  • Institutional Distribution
  • Online Pharmacies

By Region

  • North America (The U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, Turkey, Switzerland, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, South Korea, Vietnam, Philippines, Malaysia, Indonesia, Thailand, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Columbia, Argentina, Chile, and Rest of Latin America)
  • Middle East & Africa (South Africa, Saudi Arabia, UAE, Oman, Egypt, and Rest of Middle East & Africa)

Key Market Players

  • Abbott Laboratories
  •  ACON Laboratories Inc.
  •  BTNX Inc.
  • ARKRAY Inc.
  • Assure Tech (Hangzhou) co. Ltd.
  • Becton Dickinson & Company
  • Bionime Corporation
  • Roche Holding AG
  • Quidel Corporation
  • True Diagnostics Inc.
  • Runhe Biomedical Technology (Shantou) Co., Ltd.
  • SA Scientific
  • Sekisui Diagnostics LLC
  • Shanghai Kehua Bio-engineering Co., Ltd.
  • Siemens Healthineers
  • TaiDoc Technology Corporation
  • Thermo Fisher Scientific, Inc.
  • Zoetis, Inc.

 

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