Press release
Global Home Diagnostics Market Will Expand At A Healthy CAGR Of Around 5% Through 2030
According to Fact MR's recent market research, Home Diagnostics sales will increase at propelled CAGR by 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Home Diagnostics will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth potential on the basis of segment.
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Home Diagnostics Market Segmentation by Category
Test Type
Glucose Monitoring Devices
Pregnancy Test
HIV Test Kits
Ovulation Predictor Test Kits
Cholesterol Detection Test Kits
Drug of Abuse Test Kits
Others
Form
Cassettes
Strips
Midstream
Digital Monitoring
Instruments
Test
Dip Cards
Regional Market and Country-wise Segmentation
North America
USA
Latin America
Europe
France
Asia Pacific
Middle East
Africa
China
Distribution Channel
Retail Pharmacies
Drug Stores
Hypermarkets / Supermarkets
Online Pharmacies
Digital Transformation in Healthcare Presenting Opportunities for Home Diagnostics Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Inflammatory Skin Diseases Treatment Market.
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Competitive Landscape
A major driver for the demand for home diagnostics happens to be the need for accessible diagnostics. This is possible through preventative measures of healthcare instead of splurging on exorbitant medical expenses. Companies with the largest geographical reach are indulging in collaborative measures to increase their sales, including merging of several businesses in order to feature more versatile medical products, which can help them expand to more complex applications.
Strategic, profitable partnerships are allowing competitors to centralize their presence in the market. Acquisitions and partnerships allow companies to be more versatile in the application of advanced technology. . Companies dealing in home diagnostics are entering into various deals to expand their technological horizons.
For instance, Quidel Corporation recently acquired the assets of Alere Triage®, including its cardiovascular & toxicology business and B-type Naturietic Peptide (BNP) assay business.
GE Healthcare and leading player Roche Holding AG collaborated to include in-vivo and in-vitro data-driven diagnostics in their domain. This now enables even critically-ill patients to avail the required services from the comfort of their home.
Tier-1 companies have established themselves and account for a majority of the market share. Tier-2 companies occupy the second position amongst key players, and are followed by newly emerging companies that are steadily growing. Leading players are curating products that can provide more innovative solutions that provide precision, reliability, and performance.
Key players that are dominating the home diagnostics market include:
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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Key Home Diagnostics Survey Highlights and Projections
Despite COVID-19 outbreak causing enormous strain in the healthcare sector, the Home Diagnostics evaluation is expected to total US$ Home Diagnostics MN/BN by 2031.
Driven by higher investment in innovation, the U.S. will emerge as the dominant Home Diagnostics in North America, accounting for overall sales registered in 2021.
Segment will continue to dominate in terms of segment type, accounting for Home Diagnostics sales registered in 2031
With the presence of some of the world's leading healthcare companies, coupled with high spending on hospital services, the U.K. and Germany will emerge as highly lucrative pockets in Europe.
Investment towards healthcare sector expansion and focus on medical tourism will make China, Japan, and South Korea key markets within East Asia.
Report Benefits & Key Questions Answered
Home Diagnostics Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
Home Diagnostics Historical volume analysis: The report provides a comparison of Skincare Serums's historical sales and projected sales performance for 2021-2031.
Home Diagnostics manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Inflammatory Skin Diseases Treatment Market. It carefully gauges the impact of changing healthcare needs of key demographics globally
Home Diagnostics Consumption by demographics: The report investigates consumer behavior affecting Home Diagnostics demand outlook for the assessment period. Effect of their keenness for digital trends on Home Diagnostics is carefully analyzed
Post COVID consumer spending on Inflammatory Skin Diseases Treatment Market: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Home Diagnostics growth.
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