U.S. Self-Testing Market to Surpass US$ 11.24 billion by 2028, Says Brandessence Market Research (BMRC)

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Brandessence Market Research and Consulting Private Limited

07 Nov, 2022, 14:30 GMT

LONDON, Nov. 7, 2022 /PRNewswire/ -- U.S. Self-Testing Market stands at US$ 12.6 Billion in 2021 and is expected to reach US$ 11.24 Billion by the year 2028 at a CAGR of -3.0% between 2022 and 2028.

Self-testing is a procedure of rapid disease diagnosis that can be administered to oneself without the assistance of a medical expert. These tests are done using portable diagnostic kits that collect certain body fluids as a sample and provide quick results. There is a wide array of self-testing kits used to determine conditions such as pregnancy, HIV, COVID-19, STI, and infertility, among others. Most of them provide nearly accurate results. With rapid technological advancements, people can also check their blood pressure and blood sugar using certain self-testing equipment.

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U.S. Self-Testing Market Insights (2022-2028)

The growing prevalence of various ailments across U.S., increase in the geriatric population base, and technological advancements in the field are primarily augmenting the outlook of this business vertical.

Moreover, rising R&D activities in the field, surging healthcare expenditure, along with the growing focus of industry players to innovate and launch advanced self-testing kits are creating lucrative opportunities for the industry vertical to prosper.

Also, the affordable nature of self-testing kits as compared to the traditional disease diagnostic methods and growing health cognizance of the masses are adding momentum to the progression of U.S. self-testing market.

On the contrary, self-testing kit results are not always reliable and might show misleading results at times. This in turn is hindering remuneration scope of this business sphere.

Competitive Landscape

The prominent players characterizing the competitive terrain of U.S. self-testing market are 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 taking extensive efforts to emerge as global industry leaders. They are adopting effective expansion strategies and investing in mergers & acquisitions, new product launches, R&D activities, collaborations, and partnerships, among others to amplify their footprint and gain a competitive edge.

U.S. Self-Testing Market: Segmentation Analysis

By Type

  • Blood Glucose Testing
  • Pregnancy & Fertility Testing
  • Cholesterol Testing
  • COVID Testing
  • Others

By Distribution Channel

  • Retail Pharmacies
  • Supermarket/ Hypermarket
  • E-commerce

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Category-wise Insights

Which type category presently leads the U.S. self-testing market?

The blood glucose testing market currently dominates the industry vertical due to the rising prevalence of diabetes in the region. People are adopting a sedentary lifestyle accompanied by unhealthy dietary patterns which in turn is making them susceptible to diabetes. Citing an instance, as per the National Diabetes Statistics Report, nearly 11.3% of the total U.S population is affected with diabetes.

Which is the fastest growing distribution channel segment?

The retail pharmacies segment is the most rapidly growing industry segment. This is ascribed to the availability of a wide range of self-testing kits across retail pharmacies.

Why is the e-commerce distribution channel segment gaining massive traction?

The e-commerce distribution channel has been witnessing robust growth over the forecast period. This is attributable to the rapid internet proliferation, doorstep delivery options provided by online shopping channels, along with rising cell phone adoption in the region.

Market growth comparison pertaining to the historical years and forecast timeline of 2022-2028

The U.S. self-testing market has been generating lucrative returns over the years due to various growth inducing factors.

There has been a steep rise in the prevalence of chronic and infectious diseases across the nation. This is predominantly powered by the unhealthy lifestyle of the masses, hectic work schedule, increase in alcohol consumption and smoking along with various environmental factors. Therefore, individuals are adopting self-testing kits to diagnose the occurrence of a certain disease right from the comfort of their homes.

Traditional disease diagnosis procedures are expensive and time consuming as well. People have hectic work schedules and therefore cannot manage to get their tests done in laboratories or other healthcare centers. Thus, they have shifted their inclination toward self-testing procedures for quicker results.

Also, the outbreak of the COVID-19 pandemic has positively influenced the industry. The U.S. recorded high infection rates during the peak of the pandemic outbreak. The testing centers were crowded with people coming to get their coronavirus tests done. Therefore, some of the leading players introduced in-home COVID-19 testing kits. These kits enabled the masses to get tested for coronavirus without having to leave their houses.

The increase in the geriatric population base is stimulating the overall dynamics of this market. It is evident that elderly people are highly prone to numerous disease and need constant care. Moreover, it is also difficult for them to visit diagnostic centers regularly to get their tests done. Therefore, self-testing kits and equipment come in handy for elderly people to determine the occurrence of a particular ailment or keep a track of their BP, thyroid, or sugar levels.

Moreover, there has been a growing usage of pregnancy testing kits among women in the U.S. Instead of opting for a traditional pregnancy test method, many of them prefer to get their initial tests done right at home before visiting a healthcare center for reconfirmation. This not only saves money but is also less time consuming in nature.

On Special Requirement U.S. Self-Testing Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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Major Developments

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

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