Self Testing Market 2020 Industry Future Growth, Key Player Analysis and Forecast
Self-Testing Market: Overview
Self-testing market gained striking momentum from the vast uptake of HIV self-testing (HIVST) around the world. HIVST gathered immense momentum on the back of the demand for potentially cost-effective and rapidly diagnostic capability of the devices. In general, the demand in the self-testing market has been spurred by the increasing focus of healthcare systems to motivate those who would otherwise not undergo any test. Key benefits that attract users include scalability, cost-effectiveness, and apt knowledge about the usage among the health care users.
A wide range of applications in the self-testing market are in fertility self-test, menopause self-test, ovulation self-test, cholesterol and triglycerides tests, and pregnancy self-tests. Pregnancy self-test strips have gained widespread acceptance in developing economies. Another self-testing modality that has gained worldwide popularity is diabetes and glucose self-tests. Major forms in which self-testing are available are kits, strips, and devices.
Self-Testing Market: Competitive Analysis and Key Developments
In the wake of rising COVID-19 pandemic, governments world over are grappling on approaches on improving the SARS-CoV-2 detection rate in the population. Countries with an inadequate healthcare infrastructure are in desperate attempt to fuel testing of the novel Coronavirus in countries to counter the spikes in cases. Even in an emerging economy such as in India, researchers have pinned great hopes on recent developments in self-testing market. An instance is the prospect of home-based midnasal swab collection. According to a research letter in the Journal JAMA Network Open, this self-testing modality for COVID-19 has comparable efficacy to clinic-based nasopharyngeal swab collection.
The key motivations spurring interest in this home-based self-testing technology is intense need for reducing the risk to healthcare professionals when the healthcare are already overburdened with Coronavirus-positive patients. This technology, the researchers assert, will boost access to testing, and will prove a boon in controlling the spread of COVID-19.
Some of the promising players in the self-testing market are B. Braun Holding GmbH, Johnson & Johnson, Geratherm Medical AG, Accuquik, Piramal Enterprises, OraSure Technologies, Inc, Nectar Lifesciences Limited, SelfDiagnostics OÜ, and PRIMA Lab SA. Top players are aspiring to spend on research and development of novel diagnostics.
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Self-Testing Market: Key Trends
The changing attitudes and perceptions of healthcare workers and caregivers toward acceptance of self-testing modality and home-based tests is a key trend boosting the self-testing market. A striking trend has been positive attitude towards HIV self-testing, reinforcing sales of such technologies. In this regard, the high disease burden especially in less developed parts of the world has mounted the concern for getting vulnerable populations to undergo testing.
The demand for reducing the burden of testing of various chronic diseases with clinical settings is a notable trend boosting the self-testing market. The growing interest in infectious disease specialists has also expanded the avenue for for medical device manufacturers. Rise in uptake of self-testing kits in infections and allergies has also boosted revenue generation for players in the self-testing market.
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Self -Testing Market: Regional Assessment
Some of the potentially lucrative regions in the self-testing market are North America, Asia Pacific excluding Japan, Japan, Western Europe, Eastern Europe, Latin America, the Middle-East and Africa. Of these, North America and Europe are promising markets. The lucrativeness of these regional markets have been reinforced by the rising preference of self-testing for chronic and other diseases, notably for diabetes, allergies, and pregnancy.
On the other hand, Asia Pacific is emerging as a potentially attractive market for manufacturers of self-testing market. The vast penetration of self-testing kits in various populations in the region has imparted a string push to the avenues in the overall market. A large chunk of the opportunities in recent years is found in China and India.
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