openPR Logo
Press release

Home Diagnostics Market : Expansion Strategies Set to Generate Substantial Revenue in the Near Future | Key Players - ACON Laboratories , BTNX Inc., ARKRAY , Assure Tech (Hangzhou) co. , Becton Dickinson & Company, Bionime Corporation, Roche Holding AG, Q

10-24-2018 01:02 PM CET | Health & Medicine

Press release from: Fact.MR

Home Diagnostics Market : Expansion Strategies Set to Generate

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.

Claim Sample Report For FREE: 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.

Request Full Report With TOC: 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.

Connect To An Expert: https://www.factmr.com/connectus/sample?flag=AE&rep_id=1892

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            
FactMR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Blog: https://factmrblog.com/
Read Industry News at - https://www.industrynewsanalysis.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 : Expansion Strategies Set to Generate Substantial Revenue in the Near Future | Key Players - ACON Laboratories , BTNX Inc., ARKRAY , Assure Tech (Hangzhou) co. , Becton Dickinson & Company, Bionime Corporation, Roche Holding AG, Q here

News-ID: 1325362 • Views:

More Releases from Fact.MR

Elevators Market to Grow at 11% CAGR, Reaching $270 Billion by 2033
Elevators Market to Grow at 11% CAGR, Reaching $270 Billion by 2033
The international elevators market (エレベーター市場) got to an evaluation of United States $ 95 billion in 2023 as well as is predicted to get to United States $ 270 billion by the end of 2033. This market is anticipated to expand at a substantial CAGR of 11% from 2023 to 2033. The elevators market stands as a crucial cog in the wheel of contemporary facilities, promoting upright mobility in significantly metropolitan
Stone Paper Market Explosive Growth CAGR of 8.0% to Reach $2,096.9 Million by 2033
Stone Paper Market Explosive Growth CAGR of 8.0% to Reach $2,096.9 Million by 20 …
The international stone paper market (ストーンペーパーマーケット) is forecasted to get to an assessment of United States $ 972.6 million by the end of 2023 and also is anticipated to expand at a CAGR of 8.0% to get to United States $ 2,096.9 million by the end of 2033. The stone paper market is experiencing considerable development possibilities driven by raising need from the product packaging as well as publishing markets. Customer
Foliar Fertilizers Market Predicts 4% CAGR, $344 Million Expansion by 2029
Foliar Fertilizers Market Predicts 4% CAGR, $344 Million Expansion by 2029
The worldwide foliar fertilizers market is forecasted to accomplish a 4% ordinary substance yearly development price (CAGR) by the verdict of the projection duration. This development is anticipated to produce an increment chance of United States$ 344 million by the end of 2029. Foliar plant foods supply an useful choice for supplying nutrients to plants as they can be straight related to the fallen leaves. This approach not just improves nutrient
E-Compass Market $11.9 Billion Discovery By 2033 | Fact.MR
E-Compass Market $11.9 Billion Discovery By 2033 | Fact.MR
In 2023, the global E-Compass Market reached a valuation of US$ 2.6 billion, and projections indicate a substantial growth trajectory, with estimates soaring to US$ 11.9 billion by 2033. 𝗚𝗲𝘁 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝗼𝗽𝘆: https://www.factmr.com/connectus/sample?flag=S&rep_id=8417 This remarkable surge in market value is attributed to the anticipated surge in worldwide electronic compass sales, expected to surge at an impressive Compound Annual Growth Rate (CAGR) of 16.5% over the coming decade. The eCompass, an electric

All 5 Releases


More Releases for FDA

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
Peyronie’s Disease Market - Only FDA approved product
The market is dominated by a single player, Endo International plc who sells the only FDA approved Peyronie’s disease product. In May 2015, the American Urological Association presented the first ever treatment guidelines for Peyronie’s disease recommending the use of Xiaflex. Furthermore, the company is creating awareness through its “Ask About the Curve” campaign. Also, reimbursement from the U.S. insurance providers will boost the demand for this product. The product
FDA grants orphan drug status to Vicore
US Food and Drug Administration has awarded Vicore Pharmaceuticals with orphan Drug designation for the treatment of Idiopathic Pulmonary Fibrosis (IPF). FDA’s Orphan Drug Designation program provides certain incentives for companies developing therapeutics to treat rare diseases or conditions, defined as those affecting less than 200,000 individuals in the U.S. A drug candidate and its sponsor must meet several key criteria in order to qualify for, and obtain, orphan drug
New FDA Design Control Training Courses
Salt Lake City, Utah - February 23 2017 - Procenius Consulting is a medical device consulting firm specializing solely in medical device design controls regulation (21 CFR 820.30). Announcing New Design Control Training Courses Procenius Consulting has just launched two new training courses covering basic and advanced topics of medical device design control regulation. These courses focus on compliance, practical implementation and industry best practices techniques for developing or improving a
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
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