Over The Counter Tests Market Know the Scope and Trends

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Over The Counter Tests Market Size, Share & Trends Analysis Report By Technology (Lateral Flow Assays, Immunoassays, Dipsticks), By Product (Infectious Disease Tests, Glucose Monitoring Tests, Pregnancy and Fertility Tests), Region, Market Outlook And Industry Analysis 2031"

The Global Over The Counter Tests Market Size is valued at 17.19 billion in 2022 and is predicted to reach 43.40 billion by the year 2031 at a 10.96% CAGR during the forecast period for 2023-2031..


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A consistent growth in the industry share for over-the-counter pregnancy tests is anticipated. The market for over-the-counter urine pregnancy tests will grow due to the growing preference for non-invasive testing. Many women are likely to choose saliva-based treatments because they do not require blood or urine samples, which is seen as more respectful. The introduction of cutting-edge testing systems is ensuring that market participants for over-the-counter tests stay competitive. The world's first saliva-based quick pregnancy test kit underwent successful clinical trials, according to an announcement made by SaliStick in November 2021. The tool, created by Salignostics, a manufacturer of diagnostic equipment with headquarters in Jerusalem, can find -hCG as soon as the day after a missed period.

List of Prominent Players in the Over The Counter Tests Market:
• Abbott Laboratories
• Abingdon Health PLC
• AccuBioTech Co., Ltd.
• Acon Laboratories Inc.
• B. Braun Melsungen AG
• Becton Dickinson and Company
• Clip Health
• Dario Health Corp
• Ellume Health Ltd
• Eurofins Scientific Group
• F. Hoffmann-La Roche AG
• Lia Diagnostics Inc
• Lifescan IP Holdings, LLC
• Lucira Health, Inc
• Now Diagnostics Inc
• Orasure Technologies Inc
• PHC Holdings Corporation
• Quidel Corporation
• SD Biosensor Inc.
• Sinocare Inc.

Market Dynamics:
Drivers-
The rise in chronic and infectious diseases like heart disease, diabetes, and respiratory infections, as well as rising consumer demand for point-of-care, over-the-counter diagnostic tests, as well as increased funding from private and public organisations for the development of the pharmaceutical and biotechnology industries, are the main factors driving the growth of the global over-the-counter test market. The Centres for Disease Control and Prevention (CDC) revealed in 2018 that there are roughly 1.7 million illnesses and 99,000 related fatalities reported each year in American hospitals.

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Challenges:
The expansion of the industry may be hampered by the expensive over-the-counter/OTC tests and treatment options that would follow a diagnosis. The main barrier limiting the expansion of the over-the-counter/OTC test business is also the general lack of public understanding of health and technology. Additionally, the absence of diagnostic testing methods and in-vitro facilities, particularly in developing countries, may impede the growth of the over-the-counter/OTC test market's revenue during the projection period.

Regional Trends:
Due to the rising prevalence of chronic disorders, the rise in the number of over-the-counter test products receiving approval, the presence of key players, and advancements in healthcare technology in the region, North America commanded the majority of the over-the-counter test market in 2022 and is anticipated to retain its dominance throughout the forecast period. A higher frequency of chronic and infectious diseases, a growing geriatric population, an increase in health care spending, and a rise in the use of over-the-counter test products are predicted to grow in Asia-Pacific.

Recent Developments:
• In October 2021, As part of its continued commitment to giving its clients the greatest resources and user experience, VirgoCX introduced the much-anticipated OTC Direct revamp to its over-the-counter (OTC) trading platform, VirgoCX Wealth.

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• In June 2021, The authorised generic versions of a few over-the-counter medications were purchased by Glenmark Pharmaceuticals Ltd. from Wockhardt Ltd. in the US. The company's wholly-owned subsidiary Glenmark Pharmaceuticals Inc. has acquired the authorised abbreviated new drug applications (ANDAs) for the 10 mg and 20 mg famotidine tablets used to treat and prevent stomach and intestine ulcers.

Segmentation of Over The Counter Tests Market-
By Product-
• Cholesterol Test
• Fecal Occult Blood Test
• Pregnancy Test
• Glucose Monitoring Tests
• Drug abuse Test
• Others
By End-Use-
• Online pharmacies
• Retail pharmacies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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