Fact.MR, in its latest market study, opines that the home diagnostics market wants to grow at a healthy 3.5% value CAGR, surpassing US $ 6.3 million by 2026 . According to the report, sales will continue to share buoyant in developed regions with North America and Europe. The Fact.MR study remains bullish on the prospects of home diagnostics market players in developing countries, as growing focus on health & wellness, and emergence of many Asian countries hubs creates opportunities.
Request For Sample Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=1892
Increasing preference for self-diagnosis continues to be a trigger for home diagnostics. Governing bodies search the US Food and Drug Administration (FDA) and the European Commission regulate home diagnostics with stringent quality control and labeling requirements. Gaining EU CE mark, FDA 510 (k) clearance, and FDA approved Premarket Approval Application (PMA) continues to be a primary focus for home diagnostics manufacturers who are looking to scale up their presence in developed markets. For instance, Abbott Laboratories, a leading pharmaceutical company in the US, recently got an FDA approval for marketing its FreeStyle ® Libre 14 day Flash glucose monitoring system in the US ACON Laboratories, another prominent player in the home diagnostics market announced did it has received FDA clearance of Mission ® U120 urine reagent strips. According to the report, compliance to ever-evolving regulations and gaining regulatory approval remains both an opportunity and a challenge for market players.
The report thus finds that home diagnostics manufacturers are focusing on incorporating advanced technology to differentiate their offerings in the market. For example, Abbott Laboratories adopted next-generation sensor technologies to upgrade its FreeStyle Libre system (10 day) to the FreeStyle® Libre 14 day Flash Glucose Monitoring system with improved accuracy and better mean absolute relative difference.
To Know more about Home Diagnostics Market, Visit – https://www.factmr.com/report/1892/home-diagnostics-market
The Fact.MR study finds the glucose monitoring devices to continue to demand robust demand and dominate the home diagnostic market with over 80% revenue share in the market. According to the World Health Organization (WHO), the number of people suffering from diabetes reached 422 million in 2014, and it will soon become a leading cause of death. Increasing prevalence of diabetes throughout the assessment period. Home diagnostics market players are aware of the surging demand for glucose monitoring devices, and are focusing on their product portfolio in this segment. The other lucrative segments in the home diagnostics market include pregnancy testing and ovulation prediction kits.
According to the report, although demand for home diagnostics is concentrated in developed countries, home diagnostic market players are putting efforts to boost uptake in developing regions. According to WHO, the prevalence of diabetes has been the highest in middle and low-income countries.
Anticipating the burgeoning demand for glucose monitoring devices in emerging Asia, players in the home diagnostics market are shifting their focus toward developing nations, including China and India. ARKRAY, Inc. – a Japanese manufacturer in the home diagnostics market – has just announced that it will strengthen its diabetes testing capabilities in China. Leading manufacturers in the home diagnostics market are modifying their marketing strategies to improve awareness about cost-effective and efficient home diagnostics to leverage lucrative opportunities in the Asia-Pacific region.
To Buy Home Diagnostics Market Report, visit https://www.factmr.com/checkout/1892/S
About Fact.MR
Fact.MR is a full-growing suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
Contact us
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com