Dublin, July 17, 2023 (GLOBE NEWSWIRE) — The “Home Care Testing Market Size, Share & Trends Analysis Report 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global home care testing market size is expected to reach USD 18.30 billion by 2030, registering a CAGR of 9.3% from 2023 to 2030, according to this report.
The growth of the market is attributed to factors, such as increasing demand for convenient and accessible healthcare solutions, growing focus on preventative healthcare and wellness, and technological advancements.An increase in technological advancements is another major factor contributing to the market growth.
There have been significant advances in diagnostic technologies, such as digital imaging, molecular diagnostics, and lab-on-a-chip systems, which have enabled the development of innovative and effective at-home testing devices. In March 2023, Cue Health, a healthcare technology company, expanded its Cue Care platform with the launch of a suite of at-home diagnostic tests.
The tests are designed to provide individuals with quick and accurate results, allowing them to take control of their health and wellness. The new tests include a range of options, such as tests for COVID-19, influenza, and Respiratory Syncytial Virus (RSV).
Furthermore, home care testing has helped to reduce healthcare costs. By enabling patients to conduct their own tests at home, healthcare providers can save on the cost of labor and infrastructure needed to perform testing in a healthcare setting. This can help make healthcare more affordable and accessible for patients, particularly those with chronic conditions requiring frequent testing. In addition, home care testing has increased accessibility for patients in rural or remote areas who may not have easy access to healthcare facilities.
By enabling patients to conduct tests at home, healthcare providers reach patients who might have difficulty accessing healthcare services.The pandemic has highlighted the importance of regular monitoring and early detection of diseases, which has boosted the demand for home care testing kits.
Companies have been developing new technologies and solutions to address the growing demand for quick and accurate testing solutions. This has led to the development of a range of new home care testing products, including rapid antigen tests, antibody tests, and PCR tests, which have all been used to help diagnose and monitor COVID-19. In March 2023, Lucira Health received FDA authorization for its over-the-counter (OTC) flu and COVID-19 test. The test enables individuals to test themselves for COVID-19 and the flu at home, without the need for a healthcare provider.
- Quidel Corporation
- F. Hoffmann-La Roche Ltd.
- Nova Biomedical
- Siemens Healthcare GmbH
- ACON Laboratories, Inc
- OraSure Technologies, Inc.
- Chembio Diagnostics, Inc.
Home Care Testing Market Report Highlights
- Based on age, the geriatric segment captured the highest market share in 2022 due to the presence of the geriatric population coupled with a highincidence of chronic diseases
- Based on sample, the urine sample segment dominated the market in 2022. Advances in technology have led to more accurate and reliable urine sample testing, allowing for earlier detection and treatment of health conditions
- Based on test type, the infectious disease segment is expected to dominate the market in 2022. The growth of the segment is attributed to factors, such as increasing cases of infectious diseases globally and a high number of product approvals
- Based on distribution channel, the retail pharmacies segment is expected to dominate the market in 2022.These are easily accessible to consumers, with many located in convenient locations, such as shopping centers and grocery stores
- Based on product, the strip segment dominated the market in 2022. The strip tests are relatively inexpensive & easy to use and can be performed at home without the need for specialized equipment
- North America dominated the market and accounted for the largest revenue share of 32.40% in 2022 owing to the presence geriatric population and well-developed healthcare infrastructure
|No. of Pages||150|
|Forecast Period||2022 – 2030|
|Estimated Market Value (USD) in 2022||$9.05 Billion|
|Forecasted Market Value (USD) by 2030||$18.3 Billion|
|Compound Annual Growth Rate||9.3%|
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Home Care Testing Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
184.108.40.206. Growing prevalence of chronic diseases
220.127.116.11. Technological advancements in diagnostic testing
18.104.22.168. Increasing demand for self-monitoring and preventive healthcare
3.3.2. Market restraint analysis
22.214.171.124. Lack of reimbursement
126.96.36.199. Limited accuracy and reliability of some tests
3.4. Home Care Testing Market Analysis Tools
Chapter 4. Home Care Testing Market: Age Estimates & Trend Analysis
Chapter 5. Home Care Testing Market: Sample Estimates & Trend Analysis
Chapter 6. Home Care Testing Market: Test Type Estimates & Trend Analysis
Chapter 7. Home Care Testing Market: Distribution channel Estimates & Trend Analysis
Chapter 8. Home Care Testing Market: Product Estimates & Trend Analysis
Chapter 9. Home Care Testing Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/tw4b1a
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- Global Home Care Testing Market