The Over the Counter Test market was valued at USD 13.24 billion in 2020 and is expected to grow at a CAGR of 11.2% over the forecast period from 2020 to 2028. The increase in demand for OTC tests is driven purely by the rising prevalence of target diseases and conditions, such as diabetes and infectious diseases, both of which need rapid and effective testing and are globally influential diseases.
Adroit Market Research report on Over the Counter Test market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic as 2018, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with company positioning based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global Over the Counter Test market have been studied in detail.
Due to high penetration rates and a wide range of items available on the shelves for consumers, North America has a noticeable share of retail revenue. On the other hand, over the projected timeframe, Asia Pacific is expected to emerge as the most lucrative regional market. The development of the Asia Pacific region is mostly due to the growing number of patients in the region, along with the increasing prevalence of chronic diseases. Besides this, among citizens, there has been a significant awareness of their health.
The global Over the Counter Test market has been bifurcated based on Technology, Product and region. In terms of Technology the market is divided into Lateral Flow Assay, Immunoassays, and Dipsticks. On the basis of product, the segment is divided into Glucose Monitoring Tests, Pregnancy & Fertility Tests, Infectious Disease Tests, Coagulation Monitoring Tests, Urinalysis Tests, Cholesterol Tests, Drugs-of-abuse Tests, and Others. During the forecast timeframe, the lateral flow assays segment is anticipated to grow at a most lucrative CAGR. Due to the growing acceptance of LFA testing products in home care, the lateral flow assay POC testing market has substantially expanded and is likely to do so in near future.
Key players serving the global market include Roche Diagnostics, Abbott Laboratories, Orasure Technologies, Accubiotech, LIA Diagnostics, Labstyle Innovations, Biolytical Laboratories, Health Lab, Nowdiagnostics Company, Sinocare, among other prominent players.
Key segments of the global Over the Counter Test market
Technology Overview, 2018-2028 (USD Billion)
- Lateral Flow Assays
- Immunoassays and Dipsticks
Product Overview, 2018-2028 (USD Billion)
- Glucose Monitoring Tests
- Pregnancy & Fertility Tests
- Coagulation Monitoring Tests
- Urinalysis Tests
- Cholesterol Tests
- Drugs-Of-Abuse Tests
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa