At-Home Testing Market Expected to Reach $45,582.24 by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “At-Home Testing Market," The At-Home Testing Market Size was valued at 16,663.94 million in 2021 and is estimated to surpass 45,582.24 million by 2031, growing at a CAGR of 10.5% from 2022 to 2031.

At-home testing, also known as "self-tests" or "home-use tests," is frequently available over the counter (OTC) and enables consumers to test self-collected specimens and interpret the results without the aid of qualified healthcare experts. These tests are distinct from home-collection tests, which call users a few days later with the results after the user mails samples to a lab or clinic for analysis. 

At-home testing devices can help detect possible health conditions when patients have no symptoms and can get early treatment to lower the risk of developing later complications (i.e., cholesterol testing, hepatitis testing) and monitor conditions to allow frequent changes in treatment (i.e., glucose testing to monitor blood sugar levels in diabetes). The key At-Home Testing Market Trends are rising awareness regarding the use of at-home testing products and devices and the easy availability of testing devices at pharmacies even without a prescription.  

Moreover, the increase in the geriatric population and the rise in the adoption of technologically advanced at-home testing devices such as pregnancy kits, HIV test kits, diabetes kits, and others are propelling the growth of the market. Furthermore, the surge in investments in R&D activities by pharmaceutical companies and the low cost of testing kits propel the growth of the at-home testing market. 

However, the high risk of inaccurate results due to at-home self-testing and stringent government regulations for the release of testing kits are significant market barriers. Emerging economies such as India, China, Mexico, and Brazil are anticipated to create new opportunities during the forecast period owing to the rising geriatric population and rising awareness among people for the use of home testing kits for the early diagnosis of the disease.  

On the basis of test type, the At-Home Testing Industry is segmented into glucose tests, infectious diseases test kits, pregnancy test kits, cholesterol test strips, drug of abuse test kits, coagulation monitoring test kits, and others. In 2021, the glucose test kits segment accounted for the largest At-Home Testing Market Share. The dominance of this segment can be attributed to rise in the prevalence of diabetes, which increases the demand for home-based glucose test kits and hence, boosts the growth of the market.  

On the basis of age group, it is segmented into pediatric, adult, and geriatric. In 2021, the adult segment accounted for the largest share of the market. The dominance of this segment can be attributed to the fact that with the increase in the age of a person, the chances of acquiring cancer and chronic diseases increase, which increases the demand for diagnostic kits or medical devices by adult age group patients hence propelling the growth of the market. 

By distribution channel, the Self-Testing Market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies, the retail pharmacies segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to increasing investment in retail pharmacies and a shift towards more organized markets, and increased awareness of wellness and health, which increases the demand for at-home testing kits are the key factors that drive the growth of the market in upcoming years. 

North America accounted for most of the at-home testing market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to the high adoption rate of technologically advanced home testing kits, increase in healthcare expenditure, and presence of major key players in the country and the strategies they adopt for the development of at-home testing devices/kits such as pregnancy kits, HIV test kits, diabetes kit, and various others.  

Asia-Pacific is expected to register the fastest CAGR during the forecast period. The market growth in the Asia-Pacific region is supplemented by highly populated countries along with a high prevalence of diabetes and other chronic diseases. In addition, the increasing awareness for self-testing kits and availability of home testing kits at low cost in these nations, especially in countries such as India and China, are expected to further drive the market growth.  

The key players that operate in the at-home testing market are ACON Laboratories Inc, Quidel Corporation, OraSure Technologies Inc, Cardinal Health Inc, PHC Holdings Corporation, Biomerieux SA, Abbott Laboratories, F. Hoffmann-La-Roche Ltd, B. Braun Melsungen AG and Everly Health Inc. 

 Key findings of the study 

• By test type, the glucose test kits segment was the highest contributor to the market in 2021. 

• By age group, the adult segment was the highest contributor to the market in 2021. 

• By distribution channel, the retail pharmacies segment dominated the market in 2021 and is expected to continue this trend during the forecast period. 

• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.