OTC Test Market : What You Need To Know — Health Test Analysis

Growth in this market can be attributed to factors such as the increasing number of HIV-infected individuals across the globe, coupled with increasing availability and awareness about HIV OTC testing in emerging markets such as India, Brazil, and China.

The lateral flow assays segment is projected to grow at the highest rate in the market, by technology. In the past few years, the lateral flow assay POC testing market has grown significantly due to the increasing adoption of LFA testing products in-home care. Companies are increasingly focusing on the development of innovative LFA-based OTC devices for the confirmation of pregnancy (using hCG levels) and ovulation, screening for infectious diseases and drugs of abuse are the factors expected to drive the growth of these markets during the forecast period.

The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The high growth in this regional segment is majorly attributed to the increasing patient population base and the growing prevalence of infectious diseases.

The OTC tests market is projected to reach USD 22.2 billion by 2024 from USD 11.9 billion in 2018, at CAGR of 11.0% during the forecast period. The growth of the OTC tests market is mainly driven by the rising prevalence of target diseases and disorders, such as diabetes and infectious diseases, both prominent ailments across the globe that require rapid and effective testing.

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Glucose monitoring tests dominated the OTC Test market in 2018. Market growth can largely be attributed to the growing global prevalence of diabetes, ongoing technological advancements in blood glucose self-monitoring devices, and growing patient awareness about the benefits of these tests.

The growth of this segment can be attributed to the increasing focus of manufacturers on the development of innovative LFA-based OTC devices for the confirmation of pregnancy (using hCG levels) and ovulation, screening for infectious diseases, and testing for drugs of abuse.

Based on region, the OTC Test market is broadly divided into North America, Europe, the Asia Pacific, and the RoW. In 2018, North America accounted for the largest share of the OTC Test market. The large share of this region can be attributed to the growing prevalence of lifestyle diseases, an increasing number of product approvals, and rising government initiatives in this region.

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Key market players

The key players operating in the global Over The Counter/OTC test industry are OraSure Technologies (US), Roche Diagnostics (Switzerland), and i-Health Lab (US). A majority of the leading players in the market focus on both organic and inorganic growth strategies such as collaborations, partnerships, acquisitions, and agreements to maintain and enhance their market shares in the OTC tests market.

The prominent players in the global OTC Test market are OraSure Technologies (US), Roche Diagnostics (Switzerland), and i-Health Lab (US).

The OTC Test market is segmented as follows:

• Glucose Monitoring Tests
• Pregnancy Fertility Tests
• Infectious Disease Tests
• Coagulation Monitoring Tests
• Urinalysis Tests
• Cholesterol Tests
• Drugs-of-abuse Tests

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