San Francisco, California, July 12, 2017: The growing geriatric population and with it, a rise in the prevalence of various disorders is slated to drive the global over-the-counter diagnostics market, states TMR Research in its latest report. The report is titled “Over-the-Counter Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.” The increasing number of women population who are in their reproductive age will also drive the growth prospects of over-the-counter diagnostics market. Pregnancy kit is one of the most commonly in demand over-the-counter diagnostic by women under this category. The growing preference for consumers that make use of diagnostic devices instead of opting to go to hospitals is driving the growth of this market. These devices eliminate the need for paying a visit to clinics, thereby saving traveling time and diagnostic test costs.
The easy availability and ease of use of such over-the-counter diagnostics will further fuel the growth of this market. Leading players in the market are focusing on expanding their presence in the market. Key players are adopting effective marketing strategies and also concentrating on the enhancement of distribution network and marketing channels. This is expected to drive the growth prospects of the over-the-counter diagnostics market in the years to come. The growing preference for self medication especially in developed economies is also expected to drive the market’s growth. There is a high demand for blood glucose meters and blood pressure devices.
On the other hand, the lack of knowledge on how to use these over-the-counter diagnostics will restrict users from purchasing these devices. This is especially true in developing and under-developed nations. In addition to this, the high cost of products will hamper the adoption rates in these countries. However, the introduction of products that are easy to use shall fuel the growth opportunities in the over-the-counter diagnostics market. In addition to this, the rise in the campaigning or advertisements of these devices will further drive the growth prospects of this market. The increasing number of diabetes and blood pressure patients worldwide will boost the demand for over-the-counter diagnostics.
The global over the counter diagnostics market is segmented on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. Of these, the market is anticipated to be led by North America. The growing number of players in this region and the increasing elderly population are together expected to fuel the growth of this market. Europe and Asia Pacific are expected to trail North America and hold second and third positions respectively.