Over The Counter Test Market by Product Type, Technology, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021––2030

Over The Counter Test Market by Product Type, Technology, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021––2030

  • October 2021 •
  • 353 pages •
  • Report ID: 6193467 •
  • Format: PDF
Over The Counter (OTC) Test Market by Product Type (Glucose Monitoring Test, Pregnancy & Fertility test, Coagulation Monitoring Test, Urinalysis Test, Cholesterol Test, and Other Test), Technology (Lateral Flow Assays, Immunoassays, and Dipsticks), and Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2021––2030

The global over-the-counter test market was valued at $13,498.50 million in 2020, and is projected to reach $39,937.90 million by 2030, registering a CAGR of 11.7% from 2021 to 2030.

Over-the-counter (OTC) medical testing products are the products offered for sale directly to the consumer, without the need of prescription. There are wide range of over-the-counter testing products which got its Food and Drug Administrative approval for use by lay user. The consumers are able to understand how to use the device based on the labeling and instruction provided on the product, without any help from healthcare provider. Immunoassay, dipstick, and lateral flow assay, play a vital role in the manufacturing of over-the-counter testing products.

The growth of the global over-the-counter test market is majorly driven by alarming increase in the prevalence of chronic and infectious diseases, such as diabetics, cardiovascular disease, respiratory infection, HIV, kidney & liver disease; rise in government initiative for development of pharmaceutical and biotechnology industry; increase in number of approval for over-the-counter test product; development of advanced over-the-counter test product; and rise in adoption of early diagnosis testing. According to the World Health Organization (WHO) in 2021, various types of chronic diseases, such as cardiovascular diseases, cancer, respiratory diseases, and diabetes, are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. Thus, the increase in prevalence of cardiovascular diseases, diabetes, and respiratory diseases surge the demand for cholesterol test, glucose monitoring test, and coagulation monitoring test. Moreover, in December 2020, the U.S. Food and drug administrative (FDA) announced the emergency authorization of Ellume COVID-19 Home test, for the over-the-counter use. It is a rapid antigen test, used for the detection of COVID-19 infection. Furthermore, in 2020, Scanwell, announced the partnership with Lemonaid Health to launch of smartphone-enable at-home test kits for the detection of urinary tract infection. It is the FDA approved urine testing kits available over-the-counter. Thus, advancements in technology for advanced over-the-counter test products in emerging nations and urinary tract infection are expected to propel the growth of the market.

The increase in government support for management of chronic disease and surge in demand for accurate and quick testing are the major factors that drive the global over-the-counter test market. For instance, in October 2021, the Australian Government announced the National Diabetes Services Scheme (NDSS), which provide products and services to help people in the management of diabetes. This scheme offers diabetic related products such as blood glucose test strips, and continuous glucose monitoring products. Moreover, in August 2021, Smart Meter, one of the leader in cellular connected remote patient monitoring device services, announced the availability of glucose monitor for the management of gestational diabetes. Thus, increase in incidence of diabetics significantly contributes toward the market growth. Rise in demand for early diagnosis of disease for effective treatment acts a key driving force for the expansion of the global market.

However, high cost associated with over-the-counter test products for detecting and monitoring of chronic and infectious disease is anticipated to hinder the market growth. People, now-a-day are aware of health, which in turn is compelling them to maintain their health condition and increase the demand for over-the-counter test product. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity in the over-the-counter test market.

The over-the-counter test market is segmented into product type, technology, distribution channel, and region. By product type, the market is categorized into glucose monitoring test, pregnancy & fertility test, infectious disease test, coagulation monitoring test, urinalysis test, cholesterol test, drugs-of-abuse test, and other test. By technology, it is fragmented into lateral flow assays, immunoassays, and dipsticks. As per end user, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major companies that operate in the global over-the-counter test market are Abbott Laboratories, Abingdon Health PLC, AccuBioTech Co., Ltd., Acon Laboratories Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Clip Health, Dario Health Corp, Ellume Health Ltd, Eurofins Scientific Group, F. Hoffmann-La Roche AG, Lia Diagnostics Inc., Lifescan IP Holdings, LLC, Lucira Health, Inc., Now Diagnostics Inc., Orasure Technologies Inc., PHC Holdings Corporation, Quidel Corporation, SD Biosensor Inc., and Sinocare Inc..

KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global over the counter test market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global over the counter test market.

KEY MARKET SEGMENTS

By Product Type
• Glucose Monitoring Test
o Blood Glucose Meters
o Testing Strips
o Lancets
• Pregnancy & Fertility Test
o Pregnancy Test
o Fertility Test

• Coagulation Monitoring Test
• Urinalysis Test
• Other Test

By Technology
• Lateral Flow Assays
• Immunoassays
• Dipsticks

By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online pharmacy

By Region
o North America
- U.S.
- Canada
- Mexico
o Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
o Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
o LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA

KEY MARKET PLAYERS
• Abbott Laboratories
• Abingdon Health PLC
• AccuBioTech Co., Ltd.
• Acon Laboratories Inc.
• B. Braun Melsungen AG
• Becton Dickinson and Company
• Clip Health
• Dario Health Corp
• Ellume Health Ltd
• Eurofins Scientific Group
• F. Hoffmann-La Roche AG
• Lia Diagnostics Inc
• Lifescan IP Holdings, LLC
• Lucira Health, Inc
• Now Diagnostics Inc
• Orasure Technologies Inc
• PHC Holdings Corporation
• Quidel Corporation
• SD Biosensor Inc.
• Sinocare Inc.