Popularity of Home Diagnostics Surging amidst COVID-19 Pandemic, Especially for Diabetes & Infections: Fact.MR
Home Diagnostics Market Is Primarily Driven By The Growing Need For The Diagnostics Due To The Rising Prevalence Of Various Chronic Diseases And Growing Geriatric Population Across The Globe.
Fact.MR, A Market Research And Competitive Intelligence Provider - The global home diagnostics market will expand at a healthy CAGR of around 5% through 2030.
The coronavirus pandemic has led to rapid rise in the demand for home diagnostic equipment. Individuals with health issues such as diabetes and other chronic diseases are likely to be affected by Covid-19 worse than others, and, as such, need to keep their health in check to avoid any complications.
The rising awareness amongst the population regarding the availability of various home diagnostic kits across the globe owing to the aggressive marketing and promotional activities of the top market players has significant contributions in the market growth.
Furthermore, rising health consciousness, rising disposable income, easy availability of diagnostic kits, and rising consumer expenditure on the healthcare are the major factors behind the burgeoning demand for the home diagnostic kits across the globe.
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This report analyzes the current scenario and future prospects of the global home diagnostics market. Rise in demand for early disease detection and diagnosis; availability of personalized medicines; growth in prevalence of various lifestyle-associated and infectious diseases; and increase in geriatric population are key factors projected to propel the global market home diagnostics market during the forecast period.
Practice of diagnostic tests at home for periodic health checkups, contagious diseases, flu, and so on has been rising over the years, due to convenience and ease of operation. Technological advancements in automatic analyzers, and advanced devices that give instantaneous results of tests, are augmenting growth of the home diagnostics market, globally.
“The COVID-19 pandemic has disrupted several sectors, but has benefitted the home diagnostics market, as people are more inclined to stay indoors and self-test when possible, due to increased risk going to hospitals," says a Fact.MR analyst.
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Collaborative Efforts Top Manufacturers’ Priority
Fact.MR finds that, the number of people suffering from hearing loss has encouraged stakeholders in the home diagnostics market to introduce advanced hearing assessment kits.
Leading market players such as Quidel Corporation are setting the bar high. Roche Holding AG partnered with GE Healthcare to deliver data-driven diagnostics, which include tests that critical care patients can use at home. ARKRAY, Inc. is now in an agreement with leading diagnostics manufacturers to deliver diagnostics in the Indian healthcare system.
Some of the key players in the home diagnostics market include:
who are integrating innovative technologies to further improve performance features, such as efficiency and accuracy, to gain a competitive edge in this space.
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Valuable Insights into the Report
Fact.MR provides a detailed overview of the home diagnostics market, concerning the pivotal drivers impacting the revenue graph of this business. Current trends are based on regional landscape, demand, and growth graph. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, China, and the Middle East and Africa. These markets are divided into four categories, based on test type (glucose monitoring devices, pregnancy tests, HIV test kits, ovulation predictor test kits, cholesterol detection test kits, drug of abuse test kits, and others), form (cassettes, strips, midstream, digital monitoring instruments, test panels, cups, and dip card), distribution channel (retail pharmacies, drug stores, supermarkets, and online pharmacies), and sample type (blood, saliva, and urine).
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Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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