Market Snapshot:
A rapid diagnostic test uses a sample of a person's respiratory tract to detect viral antigens linked to the COVID-19 virus. This assures a quick and accurate diagnosis, and the CDC has approved its use. These COVID-19 OTC tests are made by diagnostic laboratories.
Segment Analysis
AMA Research have segmented the market of Global Over The Counter (OTC) Test market by Type, Application and Region.
On the basis of geography, the market of Over The Counter (OTC) Test has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
Increasing in prevalence of chronic and infectious disease, rise in number of geriatric population, growth in health care expenditures, and rise in adoption of over-the-counter test product Asia Pacific Region has witness to grow during forecast period
Market Drivers
Increasing in number of patient of COVID 19 OTC test also increases
Opportunities
Lack of awareness OTC test
Restraints
- High cost associated with point-of-care test
In addition to the aforementioned factor, Increasing in number of patient of COVID 19 OTC test also increases is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
The key Players profiled in the study are Abbott Laboratories (United States), Abingdon Health PLC (United Kingdom), AccuBioTech Co., Ltd. (China), Acon Laboratories Inc. (United States), B. Braun Melsungen AG (Germany), Becton Dickinson and Company (United States), Clip Health (United States), Dario Health Corp (United States), Ellume Health Ltd (Australia), F. Hoffmann-La Roche AG (Switzerland), Lia Diagnostics Inc (United States), Now Diagnostics Inc (United States) and Orasure Technologies Inc (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.