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The technologies applied in over the counter tests are of great significance and include immunoassays, lateral flow assays and dipsticks popularly implemented by the healthcare sector. Moreover, the types of product tests encountering these technologies include pregnancy and fertility tests, glucose monitoring tests, coagulation monitoring tests, infectious disease tests, urinalysis tests, cholesterol tests drug-abuse tests and others. Over the counter tests enable individual customers to carry out desired tests with the availability of testing kits which therefor offers extreme convenience and immediate testing for patients with significant requirement encouraging the growth of the over the counter tests globally.The global over the counter test market was valued at USD 13.24 billion in 2019 and is expected to grow at a CAGR of 11.2% over the forecast period.
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The easy availability of test kits encourages variety of utility purposes typically offering the advantage of instant results. The testing kits can be accessed at local pharmacy stores which makes them highly convenient to procure. The most significant applications of these products include glucose test and pregnancy tests. Increasing prevalence of infectious diseases and chronic diseases is replicated to effectively boost the overall healthcare and pharmaceutical sector specifically increasing the demand for easy testing products eventually boosting the growth of the over the counter tests market. Rapid growth in the diagnostics and diagnostic tests segment is considered to exponentially widen the opportunities for over the counter tests enabling patients to take the tests by eliminating factors of time and place.
Moreover, rising incidences of diseases such as diabetes coupled with infectious diseases and increasing prevalence of HIV is driving the growth of the over the counter tests market. Ever-increasing global population and awareness of people on a rise regarding need for tests and global trends of health and fitness driving people to a more health-conscious lifestyle in an environment susceptible to novel diseases the growth of the over the counter tests are considered to expand over the next few years.
The over the counter tests market is very diverse and its geographic significance indicated the market positioning in regions such as North America, Asia Pacific, Europe, Latin America and Middle east and Africa. The prominent global over the counter test market is found in Asia Pacific primarily owing to the rising number of patients in addition to the increasing incidences of infectious diseases. Along with this, the dominant market share accounted by Asia Pacific can be largely attributed to the government initiatives in the developing regions to increase the spread of public awareness by supporting campaigns and favouring the use of the over the counter tests by making them more affordable.
Key players serving the global market include Roche Diagnostics, Abbott Laboratories, Orasure Technologies, Accubiotech, LIA Diagnostics, Labstyle Innovations, Biolytical Laboratories, Health Lab, Nowdiagnostics Company, Sinocare, among other prominent players.
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Key segments of the global Over the Counter Test market
Technology Overview, 2018-2028 (USD Billion)
Lateral Flow Assays
Immunoassays and Dipsticks
Product Overview, 2018-2028 (USD Billion)
Glucose Monitoring Tests
Pregnancy & Fertility Tests
Coagulation Monitoring Tests
Urinalysis Tests
Cholesterol Tests
Drugs-Of-Abuse Tests
Others
Regional Overview, 2018-2028 (USD Billion)
North America
U.S.
Canada
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Middle East & Africa
Reasons for the study
The purpose of the study is to give an exhaustive outlook of the global Over the Counter Test industry
The overall segmentation of Over the Counter Test market, especially key segments are thoroughly studied.
Presence of major players and their wide Industry portfolio across developed countries is anticipated to further boost the growth of Over the Counter Test market
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