03 October 2022
Douglas Insights is making new waves with its new digital tool, the first ever comparison engine for market research reports. The at-home testing kits market has recently made it to the vast library of market research reports. The market research reports highlight the latest market trends, opportunities, driving factors, and significant restraints that researchers, field experts, and businesses could use to make predictions and get further market insight. Douglas Insights’ Comparison Engine compares different private and public market reports based on price, publication date, and table of contents, amongst other things.
At-home testing kits are testing equipment that customers can use at home to perform rapid tests and get instantaneous results. There’s no need for expert supervision if the procedure, written in the instruction manual that’s packaged in the kit, is performed correctly. The simplified at-home testing is cost and time effective with immediate results. Some complex testing also allows customers to send in the fluid samples to certified laboratories for in-depth results. Diabetes, pregnancy, infections, and recently Covid-19 are some primary clinical conditions that are diagnosed or monitored using at-home testing kits.
The Covid-19 global pandemic contributed to the surge in demand for at-home DIY testing kits as social contact was prohibited. People needed home-based solutions for rapid testing, including testing for Covid-19, where rapid diagnosis could significantly contribute to increasing survival chances. Major pharmaceutical companies manufactured Covid-19 DIY testing kits to help in practical and timely diagnosis during the pandemic leading to market growth that will continue till 2029 at a CAGR of 6.6%.
Apart from Covid-19, the self-testing kits’ affordable rates and easy accessibility through online pharmacies contributed to the growth of the at-home testing kits market. The at-home easy testing kits saved the fees and transportation charges involved with traditional doctor visits while also saving time spent waiting for the test results. Besides that, major online and traditional pharmacies contributing to the widespread availability of self-testing kits also don’t require an official prescription. The medical devices involved in testing are seeing a rise in the use of AI, which will continue to introduce new trends in the market.
Despite the increased demands for self-testing kits, a significant concern that could impede the market’s growth is the inaccuracy of the results produced by the DIY testing kits. The prevalent issue has led to a faulty diagnosis that contributes to increased stress in people and also the costs that follow when the patients seek proper treatment or procedures associated with the diagnosed infection or condition. Due to inaccurate and invalid results, numerous unreliable testing kits are already off the shelves. Hence, key market players must focus on ensuring this aspect of the at-home testing kits to boost market growth.
The rise of at-home testing in the Asia-Pacific region has been a major part of the overall market growth. While China is leading the region’s market growth, countries like India, Malaysia, Australia, and Japan are not far behind. Some of the key global players that have been actively setting the trends in the at-home testing kits market are Atlas Medical UK, Siemens Healthcare GmbH, Nova Biomedical, Rapikit, Abbott, and AccuBioTech Co., Ltd. Eurofins Scientific, Everlywell, ACON Laboratories, F. Hoffmann-La Roche Ltd, and ARKRAY USA among others are also contributing to the new trends in the market.
The self-testing kits are categorised based on age, sample type, test type, distribution channel, usage, and type. Hence, the market is segmented based on these categories. Glucose testing, paediatric tests, urine sample tests, strip-based tests, disposable tests, and tests bought from online pharmacies are some of the most prevalent tests sold in the market.
AI and Machine learning are slowly but surely reshaping various industries as we know it, and the potential for the future is immense.
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The pandemic brought nations to a stand-still posture when almost every economic activity ceased, the skies closed, and supply chains dismantled. Covid’19 outbreak restricted outdoor activities, banned social gatherings, and made people fear sneezing or coughing aloud.
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