Growing disease burden coupled with rapidly increasing geriatric population worldwide is the key factor driving self health kits market during the forecast period. Elderly population is susceptible to chronic conditions owing to several anatomical and functional changes. Increasing demand for self health kits in diagnosis and monitoring health conditions will surge demand for such products. Thus, shift of patients from hospital to homecare settings owing to its convenience and cost-effectiveness will further surge the demand for self-health kits thereby boosting industry growth in the foreseeable future.
Furthermore, technological advancement in self-health kits will serve as another positive impact rendering factor in the business growth. Focus of industry players on development of advanced and cost-effective products will surge demand for self health products. Advancement in self health products including blood pressure monitor, holter monitor, heart rate meters, pregnancy kits and urinary tract infection kits for disease detection and patient monitoring will favor business growth. However, lack of awareness pertaining to advanced self health kits in underdeveloped economies and patient safety concerns may impede industry growth over the coming years.
Kits segment is projected to witness lucrative growth during the forecast period owing to growing burden of diseases that will upsurge demand for self health kits. Moreover, availability of simple, cost effective and easy-to-use self-health kits that enable patients to diagnose medical conditions at any corner inside their house leading to increased adoption during the forthcoming years.
Diabetes segment accounted for significant market share in 2018 and is anticipated to show similar trend over the forecast period. Segment growth is attributed to increasing prevalence of diabetes in developed as well as developing countries. Growing awareness among people regarding availability of self health kits for monitoring blood glucose levels resulting in early diagnosis will favor segment growth. Thus, inclination towards self health kits for use in diabetes management will prove beneficial for the segment growth.
Online pharmacy segment held significant market share in 2018 and will show considerable growth during the forecast timeframe. Improved payment gateways, lower inventory costs, exemplary distribution channels are some of the major growth drivers that will boost the segment growth over the forecast timeframe.
Europe self health kits market will exhibit enormous growth over the coming years. Regional growth is prominently driven by factors such as low physician to patient ratio in the region along with growing awareness among people regarding self health kits. Focus of industry players on development of advanced and cost-effective self health kits should spur the regional market growth in coming years. Some of the major industry players operating in the self health kits industry includes EverlyWell, 23&Me, My Heritage, Creative Diagnostics, One Touch, Thermo Fisher Scientific, bioMérieux, Cardinal Health, System Biosciences, Scanwell Health, Easy DNA, Color Genomics and Ancestry.com. Acquisition, partnership and new product launch are some of the major strategies adopted by industry players to strengthen their market position.
Self Health Kits Market By Type, 2014-2025 (USD Million)
Self Health Kits Market By Applications, 2014-2025 (USD Million)
Self Health Kits Market By Distribution Channel, 2014-2025 (USD Million)
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