Home Diagnostics Market (Type: Glucose Monitoring, Cholesterol Detection, Pregnancy, Allergies & Intolerances, Infectious Disease Testing, Fertility, Ovulation & Sexual Health, and Drug Abuse Testing; Sample Type: Blood, Urine, and Others; and Distribution Channel: Retail, Online, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Home Diagnostics market gathered revenue around USD 5.10 Billion in 2020 and market is set to grow USD 7.95 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.0% during the prediction period 2021 to 2027.
Home diagnostics, also referred to as at-home diagnostics, enables patients or users to conduct different types of tests directly at home. These test kits are usually used to track a current health condition, diagnose a previously undiagnosed medical issue, or provide information on personal health traits. These tests play an important role in the ongoing attempts to improve people's engagement in their healthcare. It is critical that the results are accurate and easily accessible to end users.
The prevalence of various lifestyle-associated and infectious diseases such as obesity, hypertension, diabetes, STD, and the recent outbreak of COVID-19 pandemic has boosted the demand for home diagnostics. This is likely to further augment the demand for home diagnostics laboratory testing for early diagnosis. Cancer is a leading cause of death across the world. Majority of cancer cases are caused due to lifestyle-related factors. Various home diagnostic test kits are available to detect health and lifestyle-related diseases. Rise in demand for early disease detection & diagnosis and availability of personalized medicines are anticipated to drive the global home diagnostics market. Furthermore, increase in geriatric population that is vulnerable to chronic illnesses is driving the demand for home diagnostics.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Home Diagnostics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Home Diagnostics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Home Diagnostics market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Home Diagnostics Market: Regional Outlook
In terms of region, the global home diagnostics market has been split into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, Switzerland, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
The home diagnostics market report provides size and forecast for each region and country/sub-region from 2017 to 2027. The CAGR for each of these regions and countries has also been provided for the forecast period from 2021 to 2027. The home diagnostics market study also covers the competitive scenario across the globe.
|Market Size||US$ 7.95 Billion by 2027|
|Growth Rate||CAGR of 4.0% From 2021 to 2027|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2027|
|Segments Covered||Type,Sample Type,Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||SelfDiagnostics, F. Hoffmann-La Roche Ltd., Trinity Biotech Plc, Bionime Corporation, ARKRAY, Inc., ACON Laboratories, Inc., Assure Tech.(Hangzhou) Co., LTD., Abbott, Becton Dickinson & Company, and Quidel Corporation|
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Home Diagnostics Market include: SelfDiagnostics, F. Hoffmann-La Roche Ltd., Trinity Biotech Plc, Bionime Corporation, ARKRAY, Inc., ACON Laboratories, Inc., Assure Tech.(Hangzhou) Co., LTD., Abbott, Becton Dickinson & Company, and Quidel Corporation.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Home Diagnostics Market: Segmentation
Home Diagnostics Market, by Type
- Glucose Monitoring
- Cholesterol Detection
- Allergies & Intolerances
- Infectious Disease Testing
- Fertility, Ovulation & Sexual Health
- Drug Abuse Testing
Home Diagnostics Market, by Sample Type
Home Diagnostics Market, by Distribution Channel
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Home Diagnostics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Home Diagnostics market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Home Diagnostics markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
- Growth of Home Diagnostics in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Home Diagnostics and How to Navigate
- Key Product Innovations and Regulatory Climate
- Home Diagnostics Consumption Analysis
- Home Diagnostics Production Analysis
- Home Diagnostics and Management