New Jersey, NJ, Aug. 28, 2019 (GLOBE NEWSWIRE) -- Rising awareness about the importance of self-monitoring and self-diagnosis of diseases, increasing prevalence of lifestyle-associated diseases such as diabetes and growing geriatric population around the world are the driving factors for home diagnostic market. The global home diagnostics market is expected to grow from USD 4.78 Billion in 2017 to USD 6.53 Billion by 2025, at a CAGR of 3.98% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Home diagnostics, also known as self-diagnosis tests, are the tests that are performed on samples collected from the human body. These samples may contain blood, urine, or saliva, to detect medical conditions or diseases at home. Home diagnostics are popular among patients as these tests are quick, cost-effective, and confidential. Home diagnostics are commonly available in the form of cassettes, strips, digital monitoring instruments, cups, and dip cards. The rapid advancement of technology in the detection technology for the development of fast, easy-in-use, safe, and sensitive devices are fuelling the growth of the global home diagnostics market.
Although the factors such as rising awareness about the importance of self-monitoring and self-diagnosis of diseases, growing geriatric population around the world, as well as increasing prevalence diabetes are driving the global home diagnostics market. The high cost of the self-diagnosis kits and stringent regulatory approval process are anticipated to hamper the market growth over the forecast period.
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Key players in the global home diagnostics market are Abbott Laboratories, ACON Laboratories Inc., BTNX Inc., ARKRAY Inc., Assure Tech (Hangzhou) co. Ltd., Becton Dickinson & Company, Bionime Corporation, Roche Holding AG, Quidel Corporation, True Diagnostics Inc, Bayer AG, Siemens AG, Abaxis Inc., Beckman Coulter Inc., Alere Inc., Trinity Biotech Plc, Danaher Corporation among others. Diagnostics sector is constantly witnessing the technological advancements. For instance a next generation diagnostic kits that provides immediate results are being developed by BGN Technologies in collaboration with Singapore-based Biosensorix. This new technology, looks like smart USB-like drive, is an electrochemical lateral flow immunosensor that conducts quantitative diagnosis of disease-related biomarkers and pathogens. These kits can be used both in the clinic and at home diagnose a wide range of conditions and diseases.
- Demand is increasing for rapid diagnostic and point-of-care devices for immediate tests. People around the world are getting immediate benefits from these tests: they get faster results, receive more accurate diagnoses and some receive medical care that they otherwise wouldn't have because of rural, remote and hard-to-access settings. Abbott’s Rapid Diagnostics business is poised to take the advantage on its industry-leading position in the segment. Abbot’s Afinion 2 platform provides a popular series of cardiometabolic tests which are related to blood sugar, heart health and cholesterol, this test can be administered quickly and accurately in a high-growth area for medical testing. The device’s compactness, speed and versatility provides healthcare professionals with the information needed to make fast and accurate medical decisions.
- Companies are working on developing many platforms to meet the demands of professional testing and which can help to take fast and accurate medical decision. ACON Laboratories, Inc. announced the release of the On Call Sure Platform in Europe and Latin America. This is designed to meet the demands of professional testing. Its GDH-FAD enzyme offers the ability to test capillary, venous and arterial blood samples. The active correction of the system really broadens its hematocrit range, making On Call Sure suitable for neonatal testing. This is compatible with two meters, On Call Sure and On Call Sure Sync. Both provide user friendly interface and a large easy to read display.
Glucose monitoring devices segment had a market value of USD 2.10 billion revenue in 2017.
Test type segment is divided into glucose monitoring devices, pregnancy test, HIV test kits, ovulation predictor test kits, cholesterol detection kits, drug of abuse test kits, and others. Drug abuse test kits is further segmented into marijuana, opiates, benzodiazepines, alcohol abuse and others. Due to the factors such as increasing worldwide prevalence of diabetes and the growing need for monitoring sugar levels among diabetes patients, the glucose monitoring devices segment emerged as the leader with USD 2.10 billion revenue in 2017. Due to growing prevalence of the cardiac disorders the cholesterol detection kits segment is anticipated to progress at a steady pace over the forecast period.
Cassette segment had a market value of USD 1.40 billion revenue in 2017.
Form type segment is categorized into cassette, strip, midstream, test panel, dip card, and others. Owing to its easy to use, simple and low cost properties, the cassette segment led the global home diagnostics segment with USD 1.40 billion revenue in 2017.
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Urine sample type segment had 38.72% share of revenue in 2017.
Sample type is segmented into urine, blood, saliva and others. Due to its widespread use for detecting pregnancy, ovulation or drugs, the urine sample type segment led the global home diagnostics market with USD 1.85 billion revenue in 2017.
Regional Segment Analysis of the Home Diagnostic Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Factors such as increasing awareness about personal health and hygiene, rapidly growing geriatric population, as well as presence of major manufacturers were responsible for North America region to emerge as the leading region in the global demand for the home diagnostics with USD 1.90 billion revenue in 2017.
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