The self-testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Self-Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The self-testing market size has grown strongly in recent years. It will grow from $13.90 billion in 2023 to $15.28 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to educational reform movements, scientific inquiry and the enlightenment, industrial revolution, healthcare and preventive medicine, psychometric testing and personality assessment.
The self-testing market size is expected to see rapid growth in the next few years. It will grow to $22.67 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to advancements in personalized medicine, rise of telehealth and remote monitoring, growing demand for mental health support, expansion of wearable health tech. Major trends in the forecast period include point-of-care testing, blockchain-enabled data security, personalized wellness ecosystems, biohacking and quantified self movements.
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Scope Of Self-Testing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Self-Testing Market Overview
Market Drivers –
The increasing prevalence of chronic diseases is expected to propel the growth of the self-testing market going forward. Chronic diseases refer to long-lasting medical conditions that generally progress slowly and persist over an extended period. This disease arises because of demographic changes, lifestyle habits, environmental factors, and advancements in healthcare. Self-testing is leveraged in chronic diseases to actively manage their health, improve adherence to treatment plans, and facilitate early detection of any complications or changes in their condition. For instance, in January 2023, according to the report published by the National Library of Medicine, the US-based medical library, by 2050, there will be 142.66 million people with at least one chronic illness, a 99.5% rise from 71.522 million in 2020. Therefore, the increasing prevalence of chronic diseases is driving the growth of the self-testing market.
Market Trends –
Major companies operating in the radio access network market focus on advanced technologies, such as radio access network compute silicon, to improve network functionality and performance. Radio access network compute silicon is a specialized hardware component designed to perform computing tasks within the radio access network infrastructure. For instance, in November 2023, Telefonaktiebolaget LM Ericsson, a Sweden-based technology company, introduced RAN compute silicon designed to support demanding 5G-advanced and enhanced artificial intelligence (AI) algorithms. This portfolio includes high-capacity processors like RAN Processor 6672 and Radio Processor 6372, as well as high-capacity, energy-efficient routers such as Router 6678 and Router 6671. These products are hardware-ready for Open RAN deployments and offer built-in intelligence for AI analytics and automation. Radio access network compute silicon enhances network performance, security, and efficiency by offloading compute-intensive tasks and enabling accelerated processing within the Radio Access Network infrastructure.
The self-testing market covered in this report is segmented –
1) By Product: Kits, Devices, Strips
2) By Sample Type: Blood, Urine, Stool, Other Sample Types
3) By Distribution Channel: Online, Offline
4) By Application: Blood Glucose Testing, Pregnancy And Fertility Testing, Cancer Testing, Drug Abuse Testing, Sexually Transmitted Disease Or Sexually Transmitted Infection Testing, Cholesterol Testing, HIV Testing, Thyroid Testing, Other Applications
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Regional Insights –
North America was the largest region in the self-testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the self-testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the self-testing market are Roche Diagnostics, Thermo Fisher Scientific Inc, Abbott Laboratories, Siemens Healthineers, Becton Dickinson and Company, Hologic Inc., PerkinElmer, BioMérieux, Sysmex Corporation, Bio-Rad Laboratories, Quidel Corporation, Cepheid, OraSure Technologies, Meridian Bioscience Inc., Ancestry.com DNA LLC, 23andMe Inc., MyHeritage Ltd., iHealth Labs Inc., Everly Health Inc., Helix OpCo LLC, BioIQ Inc., Veritas Intercontinental Inc., Pathway Genomics Corporation, Vitagene Inc., Orig3n Inc.
Table of Contents
1. Executive Summary
2. Self-Testing Market Report Structure
3. Self-Testing Market Trends And Strategies
4. Self-Testing Market – Macro Economic Scenario
5. Self-Testing Market Size And Growth
…..
27. Self-Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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