US self-diagnostic market to top $11.24 billion by 2028, says Brandessence Market Research (BMRC)

US self-diagnostic market to top .24 billion by 2028, says Brandessence Market Research (BMRC)

LONDON, November 7, 2022 /PRNewswire/ — US self-assessment market is found in $12.6 billion in 2021 and is expected to reach $11.24 billion for the year 2028 at a CAGR of -3.0% between 2022 and 2028.

Self-diagnosis is a rapid disease diagnosis procedure that can be self-administered without the assistance of an expert physician. These tests are performed using portable diagnostic kits that collect certain body fluids as a sample and provide quick results. There is a wide range of self-test kits used to determine conditions such as pregnancy, HIV, COVID-19, STIs, and infertility, among others. Most of them provide almost accurate results. With rapid advances in technology, people can also monitor their blood pressure and blood sugar using certain self-testing equipment.

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US Self-Assessment Market Outlook (2022-2028)

The increasing prevalence of various ailments in the US, the increasing geriatric population base, and technological advances in the field are primarily increasing the prospects for this business vertical.

Additionally, increased R&D activities in the field, increased spending on healthcare, coupled with the increasing focus of industry players to innovate and launch advanced self-diagnostic kits are creating lucrative opportunities for the industry. vertical prosper.

Additionally, the affordable nature of self-diagnostic kits compared to traditional disease diagnosis methods and the growing health awareness of the masses are adding momentum to the progression of the US self-diagnostic market.

In contrast, the results of self-test kits are not always reliable and can sometimes show misleading results. This, in turn, is hindering the scope of remuneration in this business area.

competitive landscape

Prominent players characterizing the competitive terrain of the US self-diagnostic market include Abbott Laboratories, Acon Laboratories Inc., Btnx Inc., Bionime Corporation, Roche Holding AG, Quidel Corporation, True Diagnostics Inc., Thermo Fisher Scientific, Arkaray Inc. and Others.

The aforementioned players are making great efforts to emerge as global industry leaders. They are adopting effective expansion strategies and investing in mergers and acquisitions, new product launches, R&D activities, collaborations and partnerships, and more to expand their footprint and gain competitive advantage.

US Self Diagnostics Market: Segmentation Analysis

By type

  • blood glucose test
  • Pregnancy and fertility tests
  • cholesterol tests
  • COVID tests
  • Others

By Distribution Channel

  • Retail Pharmacies
  • Supermarket/ Hypermarket
  • electronic commerce

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Insights by category

Which type category currently leads the US self-diagnostic market?

The blood glucose testing market currently dominates the industry vertical due to the increasing prevalence of diabetes in the region. People are adopting a sedentary lifestyle coupled with unhealthy dietary patterns which, in turn, makes them susceptible to diabetes. Citing an example, according to the National Diabetes Statistics Report, nearly 11.3% of the total US population is affected by diabetes.

What is the fastest growing distribution channel segment?

The retail pharmacy segment is the fastest growing industry segment. This is attributed to the availability of a wide range of self-test kits in retail pharmacies.

Why is the ecommerce distribution channel segment gaining massive traction?

The e-commerce distribution channel has seen strong growth during the forecast period. This is attributed to the rapid proliferation of the Internet, home delivery options provided by online shopping channels, along with the growing adoption of cell phones in the region.

Comparison of Market Growth for Historical Years and Forecast Timeline from 2022-2028

The US self-diagnostic market has been making lucrative profits over the years due to several growth-inducing factors.

There has been a sharp rise in the prevalence of chronic and infectious diseases across the country. This is mainly due to the unhealthy lifestyle of the masses, hectic work schedule, increased alcohol consumption and smoking along with various environmental factors. Therefore, people are adopting self-diagnostic kits to diagnose the occurrence of a certain disease from the comfort of their homes.

Traditional disease diagnostic procedures are also costly and time consuming. People have hectic work schedules and therefore fail to get tested in labs or other health care settings. Therefore, they have changed their inclination towards self-assessment procedures for faster results.

Furthermore, the outbreak of the COVID-19 pandemic has positively influenced the industry. The United States recorded high infection rates during the peak of the pandemic outbreak. Testing centers were packed with people coming in for coronavirus tests. Therefore, some of the major players introduced home COVID-19 testing kits. These kits allowed the masses to get tested for the coronavirus without having to leave their homes.

The increase in the geriatric population base is stimulating the general dynamics of this market. It is evident that the elderly are highly prone to numerous diseases and need constant care. In addition, it is also difficult for them to regularly visit diagnostic centers for testing. Therefore, self-diagnostic kits and equipment are useful for seniors to determine the onset of a particular ailment or to monitor their blood pressure, thyroid, or sugar levels.

In addition, there has been a growing use of pregnancy test kits among women in the US. Instead of opting for a traditional pregnancy testing method, many of them prefer to do the initial tests at home before visiting a center. of medical attention for reconfirmation. This not only saves money, but is also less time consuming.

As a special requirement, the US Self-Diagnosis Market Report is also available for the following region:

North America

Europe

  • Germany, FranceUK, Italy, Spain, SwedenHolland, Turkey, Swiss, BelgiumThe rest of Europe

Pacific Asia

  • South Korea, Japan, Porcelain, India, Australia, Philippines, Singapore, Malaysia, Thailand, IndonesiaRest of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, PeruThe rest of Latin America

middle East Y Africa

  • Saudi ArabiaUnited Arab Emirates, Egypt, South AfricaRest of MEA

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Main developments

In March 2020 Abbott Laboratories announced the launch of its rapid point-of-care (POC) test kit that is equipped with the ability to determine the presence of coronavirus in the human body.

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