At Home Testing Kits Market Growth

At home testing kits market growth is anticipated at a CAGR of 6% during the period 2022-2035

 

Driven by the various advantages offered by at-home self-testing kits and the growing awareness and adoption of such products post the onset of the COVID-19 outbreak, this market is abuzz with activity to develop kits for detection, diagnosis and screening purposes

The global at home testing kits market is anticipated to grow at a CAGR of 6% from 2022-2035, reaching USD 31.15 billion by 2035.

Owing to several advantages offered by at-home self-testing kits for diagnostics and screening purposes, industry stakeholders have undertaken numerous R&D initiatives focused on exploiting the use of such kits to provide healthcare at a fraction of a cost to the general public when compared to traditional clinics. Associated cost saving and privacy are main drivers of the growth of this domain over the coming decade. 

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Key Market Insights

Presently, more than 51% of the total at-home self-testing kit developers are based in North America

This segment of the industry is dominated by the presence of companies that were established pre-2000 (37%), followed by firms established during 2000-2010 (32%). In addition, most of the players engaged in this domain are very small and small firms (less than 100 employees), representing close to 60% of the total kit developers.

Over 500 at-home self-testing kits are currently available in the market

It is worth noting that most of the at-home self-testing kits are currently being used for monitoring disorders (43%), followed by those employed for detection of conditions related to fertility and reproductive health (22%). Further, most of the kits are being developed to follow invasive route for the procurement of analyte (56%), followed by those being manufactured to utilize non-invasive methods for procuring analyte (43%).

More than 1,130 grants have been awarded to support the ongoing research efforts in this domain

Several non-profit organizations have extended financial support to aid the research related to at-home self-testing kits. It is worth mentioning that NIAID emerged as the most prominent non-profit organization, having awarded over 23% of grants for a period of 1-5 years, followed by NHLBI (12%).

The demand for at-home self-testing kits is projected to grow at a rapid pace, in the foreseen future

It is worth highlighting that the demand for HIV screening kits is expected to grow at a rate of 13%. Further, the highest demand for such products is expected to be driven by the Asia-Pacific region in 2035 (56%).

The market is poised to be well distributed across different types of biofluids analyzed, till 2035

The current market is driven by kits developed for metabolic disorders (64%); this trend is unlikely to change in the foreseen future as well. Further, based on type of test format, strip-based tests are likely to have the maximum revenue generation potential (50%), by 2035.

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Key Questions Answered

• Who are the leading players engaged in the manufacturing of at-home self-testing kits?
• What is the most common diagnostic assays offered by at-home self-testing kit manufacturers?
• What are the key regulatory frameworks for at-home self-testing kits across different regions?
• What are the key factors influencing the price of at-home self-testing kits? 
• What is the likely valuation / net worth of companies engaged in this domain?
• Which companies / institutes have received grants for research and development of at-home self-testing kits? 
• What is the current, global demand for at-home self-test kits? 
• How is the current and future market opportunity likely to be distributed across key market segments?
• What is the current market scenario (in terms of existing competition and growth opportunities) across emerging and established market segments?

The financial opportunity within the at-home self-testing kits market has been analyzed across the following segments:

• Type of Test Format
  • Strip Format
  • Stick Format
  • Cassette Format
  • Others
• Type of Biofluid Analyzed
  • Blood
  • Urine
  • Stool
• Target Therapeutic Area
  • Metabolic Disorders
  • Fertility and Reproductive Health
  • Infectious Diseases
  • Oncological Disorders
• Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Africa
  • South America

The report includes profiles of key players (listed below); each profile features an overview of the company, details related to its at-home self-testing kits focused portfolio, recent developments, and an informed future outlook.

• ACON Laboratories
• AdvaCare Pharma USA
• Apex Biotechnology
• i-SENS
• Oak Tree Health 
• Tai Doc Technology
• VivaChek Laboratories

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Contact:

Gaurav Chaudhary
Gaurav.chaudhary@rootsanalysis.com