openPR Logo
Press release

Home Diagnostics Market Triggered by Growing Preference for Self-Diagnosis; Global Revenues to Surpass US$ 6.3 Million by 2026

09-26-2018 01:25 PM CET | Health & Medicine

Press release from: Fact.MR

Home Diagnostics Market Triggered by Growing Preference

Fact.MR, in its latest market study, opines that the home diagnostics market will grow at a healthy 3.5% value CAGR, surpassing US$ 6.3 million by 2026. According to the report, sales will remain buoyant in developed regions, with North America and Europe collectively accounting for over 50% revenue share of the market. The Fact.MR study remains bullish on the prospects of home diagnostics market players in developing countries, as growing focus on health & wellness, and emergence of many Asian countries as medical tourism hubs creates opportunities.

Request For Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=1892

Increasing preference for self-diagnosis continues to be a trigger for home diagnostics sales, whereas a combination of industry-specific and regulatory factors continue to influence the strategies of market players. Governing bodies such as the U.S. Food and Drug Administration (FDA) and the European Commission regulate home diagnostics with stringent quality control regulations and labeling requirements. Gaining EU CE mark, FDA 510(k) clearance, and FDA approved Premarket Approval Application (PMA) continues to be a primary focus for home diagnostics manufacturers who are looking to scale up their presence in developed markets. For instance, Abbott Laboratories, a leading pharmaceutical company in the U.S., recently got an FDA approval for marketing its FreeStyle® Libre 14 day Flash Glucose Monitoring system in the U.S. ACON Laboratories, another prominent player in the home diagnostics market announced that it has received FDA clearance of Mission® U120 urine reagent strips. According to the report, compliance to ever-evolving regulations and gaining regulatory approval remains both an opportunity and challenge for market players.

The report also finds that home diagnostics manufacturers are focusing on incorporating advanced technology to differentiate their offerings in the market. For example, Abbott Laboratories adopted next-generation sensor technologies to upgrade its FreeStyle Libre system (10 day) to the FreeStyle® Libre 14 day Flash Glucose Monitoring system with improved accuracy and better mean absolute relative difference.

To Know more about Home Diagnostics Market, Visit - https://www.factmr.com/report/1892/home-diagnostics-market

The Fact.MR study finds that glucose monitoring devices will continue to witness robust demand and dominate the home diagnostics market with over than 80% revenue share in the market. According to the World Health Organization (WHO), the number of people suffering from diabetes reached 422 million in 2014, and it will soon become a leading cause of death. Increasing prevalence of diabetes worldwide and the growing need for monitoring sugar levels among diabetes patients is likely to boost adoption of glucose monitoring devices during the assessment period. Home diagnostics market players are aware of the surging demand for glucose monitoring devices, and are focusing on increasing their product portfolio in this segment. The other lucrative segments in the home diagnostics market include pregnancy tests and ovulation prediction kits.

According to the report, although demand for home diagnostics is concentrated in developed countries, home diagnostics market players are putting efforts to boost uptake in developing regions. According to statistics published by WHO, the prevalence of diabetes has been the highest in middle and low-income countries.

Anticipating the burgeoning demand for glucose monitoring devices in emerging Asia, players in the home diagnostics market are shifting their focus towards developing nations, including China and India. ARKRAY, Inc. – a Japanese manufacturer in the home diagnostics market – recently announced that it will strengthen its diabetes testing instrument production capacity in China. Leading manufacturers in the home diagnostics market are modifying their marketing strategies to improve awareness about cost-effective and efficient home diagnostics to leverage lucrative opportunities in the Asia-Pacific region.

To Buy Home Diagnostics Market Report, Visit- https://www.factmr.com/checkout/1892/S

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Contact Us

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Home Diagnostics Market Triggered by Growing Preference for Self-Diagnosis; Global Revenues to Surpass US$ 6.3 Million by 2026 here

News-ID: 1264163 • Views: 123

More Releases from Fact.MR

11-09-2020 | Health & Medicine
Fact.MR
PCR and Real-time PCR Molecular Diagnostics Market to Surpass US$ 6 Bn by 2030, …
As per data from the World Health Organization, millions of deaths can be attributed to diseases such as cancer and HIV each year. Further, the recent outbreak of the COVID-19 virus has also created massive demand for effective diagnostics processes. The PCR and real-time PCR molecular diagnostics market has been gaining traction in recent years on the back of investments by PCR diagnostic test manufacturers towards the incorporation of molecular
10-05-2020 | Health & Medicine
Fact.MR
Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR
Biobanks are a type of repository which is used in the storage of biological samples, including human and animal tissues, which primarily find use in research applications. Consequently, the process of biobanking has become a very important part of medical research and has played a major role in modern science fields such as personalized medications, and genomics. The global biobanking market is expected to grow at a healthy CAGR of ~
Mini LED Market to Expand 7.5X by 2030, Finds New Study by Fact.MR
In recent years, increasing popularity of OLED TVs in China and India has been significantly influencing growth of the mini LED market. With an increase in disposable income of a majority of the population in these countries, the inclination towards smart screens with higher lifespan and better performance is expected to open up numerous growth opportunities for the mini LED market. Moreover, aspiring and affluent households have increased their spending
Uncertainty Surrounding COVID-19 to Shave-off Growth in Electrical Steel Market …
The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019. However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19. In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020. However, the demand of electrical steel

All 5 Releases


More Releases for FDA

Austrianova files Drug Master File with FDA
S.E. Asian company, Austrianova, headquartered in Singapore, announced today that it has filed a Drug Master File (DMF) with the U.S. Food and Drug Administration (FDA). This DMF provides all confidential and detailed information covering the production of Cell-in-a-Box® encapsulated cell products based on encapsulated HEK293 cells and derivatives. This includes CypCaps™, the encapsulated cell product that its’ partner and client PharmaCyte Biotech Inc., is about to use in
FDA Compliant Blood Storage and Preservation
Accsense Monitoring System Automates Data Archive and Alarming CAS DataLoggers provided the temperature alarming and monitoring system to a hospital blood bank looking to replace their old paper chart recorders as they became unreliable and spare parts were harder to find. For proper blood storage and preservation, the lab’s medical units needed to maintain storage temperatures between 2°C to 6°C (36°F to 43°F), given the perishability of blood components. The facility
fda online training
GRC Training Solutions provides end-to-end FDA compliance solutions for those companies who want to maximize security, minimize operational costs, improve staff productivity and stay on top of all their compliance documentation. GRC Training Solutions boasts a team of experts and specialists who have a proven track record in working with the biotechnology, medical device, diagnostic and pharmaceutical fields. Our team will work with you closely and develop solutions that meet
US FDA Prohibits 19 Antibacterial Soap Ingredients
The US Food and Drug Administration (FDA) has issued a final rule regarding 19 ingredients in over-the-counter (OTC) consumer antiseptic products intended for use with water. The FDA has now determined that these 19 ingredients are not generally recognized as safe and effective (GRAS/GRAE) and so, without an approved new drug application, products containing these ingredients are now considered misbranded – effective September 6, 2017. The US FDA issued its final
11-09-2016 | Science & Education
GRCTS
FDA online training
Description: Device firms, establishments or facilities that are involved in the production and distribution of medical devices intended for use in the U.S are required to register annually. Most establishments that are required to register with the FDA are also required to list the devices that are made there and the activities that are performed on those devices. Initially, FDA issued a 28-page Proposed Rule that would amend its regulations regarding
MetaFix™ PlantarMAX™ Foot Plate received FDA-Release
Merete Medical GmbH announces the FDA-approval for MetaFix™ PlantarMAX™ plate. PlantarMAX™ is designed as the first plantar/medial Lapidus fixation plate which takes advantage of the biomechanically superior fixation on the tension side of the Metatarsal/Cuneiform joint during a Lapidus Hallux Valgus correction procedure. The fixation on the tension side of the joint is superior to dorsal or medial fixation and offers additional compression as the patient proceeds to weight bearing. Merete