Over The Counter Tests Market Growth and Restrain Factors Analysis Report

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Over The Counter Tests Market Size, Share & Trends Analysis Report By Technology (Lateral Flow Assays, Immunoassays, Dipsticks), By Product (Infectious Disease Tests, Glucose Monitoring Tests, Pregnancy and Fertility Tests), Region, Market Outlook And Industry Analysis 2031"

The Global Over The Counter Tests Market is estimated to reach over USD 43.40 billion by 2031, exhibiting a CAGR of 10.96% during the forecast period.


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The over-the-counter (OTC) pregnancy test market is poised for continuous growth, driven by the rising demand for non-invasive diagnostic solutions. Consumers increasingly prefer saliva-based pregnancy tests, which offer a more comfortable and convenient alternative to traditional blood and urine-based methods. In response to this shift, industry players are focusing on technological advancements to enhance product offerings.

A notable milestone in this sector was achieved in November 2021, when Salignostics, a Jerusalem-based diagnostic technology firm, successfully completed clinical trials for SaliStick-the world's first rapid saliva-based pregnancy test kit. This pioneering product can detect hCG hormones as early as one day after a missed period, signifying a major breakthrough in at-home pregnancy testing and reinforcing the market's expansion.

List of Prominent Players in the Over The Counter Tests Market:
• 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.

Market Dynamics:
Drivers-
The global over-the-counter (OTC) test market is experiencing steady expansion, driven by the rising prevalence of chronic and infectious diseases such as heart disease, diabetes, and respiratory infections. Additionally, increasing consumer preference for point-of-care diagnostic solutions, along with substantial investments from both private and public sectors in the pharmaceutical and biotechnology industries, is further propelling market growth. According to the Centers for Disease Control and Prevention (CDC), approximately 1.7 million infections and 99,000 associated deaths occur annually in U.S. hospitals, emphasizing the need for accessible diagnostic options.

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Challenges:
The expansion of the industry may be hampered by the expensive over-the-counter/OTC tests and treatment options that would follow a diagnosis. The main barrier limiting the expansion of the over-the-counter/OTC test business is also the general lack of public understanding of health and technology. Additionally, the absence of diagnostic testing methods and in-vitro facilities, particularly in developing countries, may impede the growth of the over-the-counter/OTC test market's revenue during the projection period.

Regional Trends:
In 2022, North America held the largest share of the OTC test market, driven by high disease prevalence, increasing product approvals, and ongoing advancements in healthcare technology. The region is expected to maintain its market leadership throughout the forecast period. Meanwhile, the Asia-Pacific market is poised for significant growth, fueled by a rising geriatric population, increasing healthcare expenditure, and growing adoption of OTC diagnostic products in response to the surge in chronic and infectious diseases.

Recent Developments:
• In October 2021, As part of its continued commitment to giving its clients the greatest resources and user experience, VirgoCX introduced the much-anticipated OTC Direct revamp to its over-the-counter (OTC) trading platform, VirgoCX Wealth.
• In June 2021, The authorised generic versions of a few over-the-counter medications were purchased by Glenmark Pharmaceuticals Ltd. from Wockhardt Ltd. in the US. The company's wholly-owned subsidiary Glenmark Pharmaceuticals Inc. has acquired the authorised abbreviated new drug applications (ANDAs) for the 10 mg and 20 mg famotidine tablets used to treat and prevent stomach and intestine ulcers.

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Segmentation of Over The Counter Tests Market-
By Product-
• Cholesterol Test
• Fecal Occult Blood Test
• Pregnancy Test
• Glucose Monitoring Tests
• Drug abuse Test
• Others
By End-Use-
• Online pharmacies
• Retail pharmacies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.