At-Home Hematology Testing Market Forecast and CAGR
According to the latest research by Fact.MR, At-Home Hematology Testing Market is set to witness a 5.5% growth during the year 2021-2031. The market is expected to witness growth owing to an increase in demand for at-home hematology testing. Due to the Covid-19 pandemic, the number of people going to labs for blood tests has reduced which led more patients to opt for at-home hematology testing.
What is Driving Demand for At-Home Hematology Testing?
The primary driving factors in the at-home hematology testing market are the rising prevalence of global incidences of blood-related disorders, heart disease, oncological disorders, and cholesterol levels. Moreover, the growing elder population, lifestyle change, and shift towards the point of care testing or at-home testing are also expected to boost the market over the forecast period.
The growing demand of people to become self-sufficient for overall well-being, increase in awareness about health and regular health check-up are boosting the demand for at-home hematology testing. Ease of access and usability together with more rapid results has also increased the demand of the global at-home hematology testing market steadily.
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Technological Advancements Making At-Home Hematology Tests More Patient-Friendly, Likely To Boost At-Home Hematology Testing Sales
Continuous investment in product development results in effective commercialization of at-home haematology testing kits with the ability to incorporate integrated technologies, which can be used in at-home testing for achieving a better success rate. Furthermore, Growing investment in research and development has led to the commercialization of at-home hematology testing products.
Similarly, the increasing significance of blood cell counts in regular diagnostic procedures for patient monitoring led manufacturers to develop an advanced at-home hematology test. Moreover, there is an increase in demand for technologically advanced haematological tests is mainly due to their reliability, advanced quality, and fast testing mechanisms.
The US and Canada At-Home Hematology Testing Market Outlook
Rising prevalence and awareness about blood disorders such as thalassemia, together with increasing healthcare expenditure is boosting the market growth.
Moreover, extensive R&D activities and effort by key players to develop cost-effective and advanced at-home hematology tests are acting as major growth drivers in the U.S. market.
Similarly, manufacturers are coming up with point-of-care devices due to a shifting trend towards patient-self-testing, which is further expected to supplement the growth of the market during the forecast period.
Several in-vitro testing companies have increased focus towards at-home tests in the U.S. that has gained importance and considerably amplified in the trying times of the COVID-19 pandemic.
For instance, in March 2019, the point-of-care-focused HemoCue subsidiary of Danaher has launched its newest haemoglobin test in the U.S. following a recent 510(k) clearance from the FDA. The HemoCue 201+ System has become a standard in Hb point-of-care testing.
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Europe Demand Outlook for At-Home Hematology Testing Market
Europe would witness the highest growth after North America due to the rising prevalence of the blood-related disorder in the region. According to the World Health Organization, in the European region, numerous types of anaemia affect more than 50 million children and adults.
Blood cancer is one of the most commonly reported diseases which is mainly affecting young people, contribute strongly to premature cancer-related mortality and lost productivity in Europe and result into increased the healthcare burden in Europe.
Thus the government is taking the initiative to create awareness among the people to use at-home homology testing to reduce the healthcare burden. Increasing government initiative and increasing incidences of blood cancer in the region is expected to drive the at-home hematology testing market in Europe.
Who are the Key Manufacturers and Suppliers of At-Home Hematology Testing Market?
Some of the leading manufacturers and suppliers of At-Home Hematology Testing include
- Siemens Healthineers
- F. Hoffmann-La Roche Ltd.
- Mindray Medical International Limited
- Sysmex Corp
- Abbott Laboratories
- Horiba Ltd.
- Danaher Corp
- EKF Diagnostics Holdings Plc
- Sysmex Corporation.
The at-home hematology testing market is fragmented with the availability of different global and regional manufacturers. Increasing focus on research and development to launch safe and effective at-home hematology testing products owing to the growing need for in-vitro diagnostic tests would explore opportunities for the manufacturers in the at-home hematology testing market.
Acquisitions and mergers and expansion of product portfolios are the strategies adopted by these companies to increase market share.
An Adaptive Approach to Modern-day Research Needs
At-Home Hematology Testing Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Test Type
- Complete Blood Count
- Platelet Function
- Bacterial and viral infections
- Heart Disease
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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