DUBAI, U.A.E, Sept. 16, 2020
DUBAI, U.A.E, Sept. 16, 2020 /PRNewswire/ -- As per the latest market study by Future Market Insights (FMI), the global self-testing market is projected to record a CAGR of 5.5% amid the forecast period, 2020-2030.
Consumers are swiftly adapting to buy self-testing kits due to early detection of severe allergies or diseases with the assistance of STI/STD self-tests, cancer-tests, and intolerance self-tests. Pharmacies are receiving a positive response online against the conventional approach of buying them from retail pharmacy stores subsequent to seeking medical advice. Market players are formulating these testing kits together with a range of wellness and prevention strategies, scoping from chronic disorder management and acute infection diagnoses to detecting probable risks of diseases.
Moreover, the COVID-19 outbreak and successive ripple effects have obliged retailers to shut down their stores, impacting the profit margins of self-testing kit producers. With brick-&-mortar stores closing down temporarily, players are placing their bets on e-commerce/online platforms to endure pandemic shockwaves.
"Easy accessibility of product via online pharmacies or retail pharmacies is promising the producers to enter into an agreement with distribution and supply chain networks to enter untapped markets and establish a global footprint," opines FMI analyst.
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Self -Testing Market - Major Takeaways
Self -Testing Market - Key Drivers
Self -Testing Market - Regional Analysis
Self -Testing Market - Competitive Landscape
Market players extend to reap notable revenues from retail pharmacies. Conversely, they are additionally delving into new revenue streams in supermarkets/hypermarkets and online pharmacies. Prominent players operating in the global self-testing market include ARKRAY Inc., ACON Laboratories Inc., Becton, Dickinson & Company, Assure Tech (Hangzhou) Co. Ltd., Roche Holding AG, Bionime Corporation, True Diagnostics Inc., and Quidel Corporation.
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Self- Testing Market - Taxonomy
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Future Market Insights, in its new offering, provides an unbiased analysis of the global self testing market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the self testing market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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