Global Home Diagnostics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Home Diagnostics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Home diagnostics, also known as in vitro diagnostics or self-diagnosis tests, are tests performed on samples collected from the human body, which include blood, urine, and 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.

Market Overview:

The latest research study on the global Home Diagnostics market finds that the global Home Diagnostics market reached a value of USD 7432.62 million in 2022. It’s expected that the market will achieve USD 12519.06 million by 2028, exhibiting a CAGR of 9.08% during the forecast period.

Market Opportunities

Healthcare cloud solutions have become increasingly integrated into home healthcare as consumers strive to reduce overall cost of care and increase efficiency. This is due to the growing preference for smartphone app connectivity, so attractive product features, as well as technological advances, will drive the adoption of home diagnostics products. Cloud solutions will add value for consumers. Speed, a step-by-step approach and ease of use are key to product design. Some startups have achieved high growth with innovative solutions. However, because these products are not yet widely adopted, marketing will be one of the challenges to their growth.

Market Risk

In most regions, home diagnostics products are classified as medical device products. The United States, Europe and other developed countries and regions are the world's major consumers of home diagnostics products, and their markets are also the most strictly regulated, requiring not only high product quality requirements but also a long application period for market access. In addition, Europe, the United States and other major markets have strict market regulation policies for medical devices and in vitro diagnostic reagents, and if the suppliers cannot continuously meet the relevant regulations of their supply markets, the sales of products in the corresponding markets will be restricted. Besides, such stringent regulations lead to an increase in the cost of production, which is a major cause for the unpopularity of home diagnostics, especially in developing countries. Developing economies can turn out to be high potential markets, with such large populations. But constrained healthcare budgets of these regions are hindering adoption of home diagnostics. Scaling the charts in these economies can prove to be a difficult task without the help of a highly-specialized marketing strategy.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Roche, LifeScan, Abbott Laboratories, Ascensia and Sinocare Group are the five key players in the global Home Diagnostics market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Home Diagnostics market in the past 5 years.

Roche is a research-based healthcare company. The Company's operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. The Pharmaceuticals Division consists of two business segments: Roche Pharmaceuticals and Chugai. The Diagnostics Division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. The Company develops medicines for various disease areas, including oncology, immunology, infectious diseases, ophthalmology and neuroscience. Its pharmaceutical products include Anaprox, Avastin, Bactrim, Bondronat, CellCept, Cotellic, Dilatrend, Dormicum, Invirase, Kadcyla, Kytril (Kevatril), Lariam, MabThera, Madopar, Neupogen, Pegasys, Perjeta, Pulmozyme, Rocaltrol, Rocephin and Roferon-A. The Company offers products for researchers, including cell analysis, gene expression, genome sequencing and nucleic acid purification.

LifeScan manufactures and markets blood glucose monitoring systems. The company’s product portfolio includes blood glucose meters, test strips, lancing devices, and diabetes management software solutions, hospital meters, data management systems, glucose control solutions, and linearity test kits. Additionally, the company providespre-installation project management, installation, and post installation support services, including on-site and on-line training programs through authorized distributors such as doctors, pharmacists, and diabetes educators.

Segmentation Overview:

Among different product types, Glucose Monitoring Test segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Drug Stores segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Home Diagnostics market covered in Chapter 3:

Assure Tech (Hangzhou)
ACON Laboratories
Abbott Laboratories
Siemens
LifeScan
ARKRAY
Ascensia
Sinocare Group
Nipro Corporation
Quidel
AccuBioTech
Bionime Corporation
Roche

In Chapter 4 and Chapter 14.2, on the basis of types, the Home Diagnostics market from 2018 to 2029 is primarily split into:

Glucose Monitoring Test
Pregnancy Test
HIV Test
Ovulation Prediction Test
Cholesterol Test
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Home Diagnostics market from 2018 to 2029 covers:

Supermarket/Hypermarket
Drug Stores
Online Pharmacies
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)