The global Self-Testing Market is estimated to be valued at US$ 21867.72 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Self-testing refers to medical tests that can be performed by a layperson without any professional assistance. It enables convenient diagnosis of various health conditions. Key advantages include privacy, accessibility, and faster diagnosis.
Market key trends:
One of the key trends fueling the growth of the self-testing market is the rising adoption of digital technologies. Various companies are introducing digitally-enabled self-testing kits that allow consumers to easily perform tests at home and view results on a digital platform. For example, rapid antigen test kits for COVID-19 detection capture results that can be viewed on a smartphone app. This has further increased convenience and accessibility of self-testing. The growing preference for self-monitoring of chronic conditions is also boosting demand for self-testing kits. Conditions like diabetes, cardiovascular diseases, and HIV that require long-term monitoring are commonly self-tested through kits at home. This allows for improved management and continuity of care outside a clinical setting.
Segment Analysis
The global self-testing market is segmented into product type, sample type, technology, application,test type, distribution channel, and end user.The product type segment is further divided into glucose monitoring,pregnancy & fertility, infectious disease testing, drug abuse testing, HIV testing and others. Amongst these, glucose monitoring is dominating the market as it holds the highest market share due to growing prevalence of diabetes. With growing technological advancement, self-glucose monitoring devices have become easy to use, reliable and pain-free method of testing glucose level.
Key Takeaways
The Global Self-Testing Market Size is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing prevalence of chronic and infectious diseases.
North America dominates the global self-testing market currently and is expected to continue its dominance over the forecast period. This is attributed to the rising prevalence of chronic diseases, adoption of advanced technologies for self-testing, and initiatives by public & private organizations to spread awareness regarding self-testing.
Key players operating in the self-testing market are Becton, Dickinson and Company, Abbott, ACCESS BIO, CELLTRION INC., Siemens Healthcare GmbH, ACON Laboratories Inc., ARKRAY, Inc, F. Hoffmann-La Roche Ltd., OraSure Technologies Inc., Quest Diagnostics, Bionime Corporation, Btnx Inc., iHealth Labs Inc., InBios International, Inc. USA. And True Diagnostics Inc. Major companies are focusing on new product launches, expansion of production capacities and geographic reach to cater to the increasing demand for self-testing kits/devices and gain competitive edge in the market.
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