Seattle, Sept. 08, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global self-testing market is estimated to be valued at US$ 20,117.5 Million in 2022 and expected to exhibit a CAGR of 8.7 % over the forecast period (2022-2030).
Key Trends and Analysis of the Global Self-Testing Market:
The increase in investment and funding by government authorities like Department of Health and Human Services (HHS) U. S. to various pharmaceutical and medical devices companies is expected to provide lucrative growth to global self-testing market for the forecast period. For instance, on 24 February 2022, FIND, the global alliance for diagnostics, announced support package that includes a total investment of US$ 7 million alongside technical assistance and clinical evaluations to accelerate the availability of affordable SARS-CoV-2 self-tests in low- and middle-income countries (LMICs).
Furthermore, increase in the products approvals is also expected to boost the global self-testing market for the forecast period. For instance, in May 2021, Mylab an Indian diagnostic company that, develops & commercializes tests used in human diagnostics, food safety, agriculture, and veterinary medicine, empowering labs to obtain reliable, timely, and actionable results, announced that it has received ICMR’s approval for India’s first self-use Rapid test for Covid-19. The test is developed in India and is named as CoviSelf.
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Key Market Takeaways:
Global self-testing market is expected to exhibit a CAGR of 8.7 % during the forecast period, owing to the increase in funding provided by government organization. For instance, on 22 October 2021, Department of Health and Human Services (HHS) U.S. declared to provide US$ 560 million to Bolster Product Manufacturing to increase supply, availability of COVID-19 Tests, out of which Nalge Nunc International Corporation, a subsidiary of Thermo Fisher Scientific, a world leader in serving science was awarded US$192.5 million to increase domestic manufacturing of pipette tips used for COVID-19 sample collection and test processing.
Among region, North America is expected to dominate the global self-testing market in 2021, owing to increasing product launches or approvals. For instance, in October 2021, Acon Laboratories Inc., a diagnostics company based in San Diego, announced that the U.S. Food and Drug Administration (FDA) granted emergency use authorization to the company's Flowflex COVID-19 home test, allowing it to begin shipping and hence doubling the capacity of rapid at-home testing in the U.S.
Based on distribution channel, the offline segment is estimated to account for the largest market share in the global self-testing the increasing number of product offerings is expected to boost the offline segment growth in the global self-testing market over the forecast period. For instance, in August 2018, Superdrug, a health and beauty retailer, announced that it had started selling HIV self-testing kits.
Competitive Landscape:
Key players operating in the global self-testing market include 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.
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Market Segmentation:
- Global Self-Testing market, By Product Type
- Kits
- Self-testing kits
- Self-collection kits
- Self-testing Devices
- Kits
- Global Self-Testing market, By Application Type
- Blood Glucose Testing
- Pregnancy Testing
- Pulmonary Function Testing
- Urinary Tract Infection Testing
- Sexually transmitted infections (STIs) Testing
- Genetic Testing
- Vitamin and Mineral Deficiency Testing
- COVID Testing
- Allergy Testing
- Gastrointestinal Screening
- Hormone Testing
- Food Sensitivity Testing
- Others (Infectious Disease Testing, etc.)
- Global Self-Testing market, By Sample Type
- Blood Sample
- Saliva Sample
- Nasal Sample
- Stool Sample
- Urine Sample
- Other Sample (Vaginal Swab Sample and Breathe Sample)
- Global Self-Testing market, By Test Type
- Laboratory Tests
- Point of Care Tests/Homecare Tests
- Global Self-Testing market, By Distribution Channel
- Offline
- Hospital Pharmacies
- Retail Pharmacies/ Drug Stores
- Supermarkets and Hypermarket
- Online
- Offline
- Global Self-Testing Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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