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Home Care Testing Market Size
Home care testing market size was valued at around USD 10.9 billion in 2023 and is estimated to grow at 6.8% CAGR from 2024 to 2032. The rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders is a significant driver for the growth of the market.
For instance, according to the International Diabetes Federation, the global prevalence of diabetes in 2021 was estimated to be 10.5%, affecting approximately 536 million adults. With chronic conditions requiring regular monitoring, patients are increasingly turning to home care testing solutions for convenience and timely management of their health. These at-home tests offer a practical alternative to frequent visits to healthcare facilities, reducing healthcare costs and improving patient compliance.
Home care testing refers to a range of medical tests and diagnostic procedures that individuals can perform at home, rather than in a clinical setting. These tests are designed to be user-friendly, allowing individuals to monitor various health parameters and manage chronic conditions conveniently and efficiently.
Who are the major home care testing industry players?
Chembio Diagnostics, Inc, F. Hoffmann-La Roche Ltd., LifeScan IP Holdings, LLC, MP BIOMEDICALS, Nova Biomedical, OraSure Technologies, Inc., Quidel Corp, SA Scientific Ltd, Siemens Healthcare GmbH, and Sterilab Services among others.
Why is the home care testing industry growing in North America?
North America home care testing market size was USD 4.9 billion in 2023 and is predicted to witness substantial market growth through 2032, driven by the increasing incidence of chronic diseases, such as diabetes, hypertension, and cardiovascular conditions.
How much is the home care testing industry worth?
Home care testing market size was valued at USD 10.9 billion in 2023 and is estimated to grow at 6.8% CAGR from 2024 to 2032, driven by the rising prevalence of chronic diseases.
Why is the demand for strip home care testing rising?
The strip segment held a 25.8% revenue share in 2023 and will grow rapidly through 2032, owing to its versatility.