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A Market on the Move: Exploring Investment Opportunities inat-home micronutrient testing market

Author : Bhushan S | Published On : 18 Mar 2024

The At-Home Micronutrient Testing Market is expected to be worth US$ 297.5 million in 2023. The market is expected to reach US$ 545.8 billion by 2033, growing at a 6.3% CAGR over the forecast period. As people become more aware of the impact of nutrition on overall health, they are looking for ways to tailor their diet and supplements to their specific needs. At-home micronutrient testing kits allow for a more personalized approach by identifying specific nutritional deficiencies or imbalances.

Traditional laboratory testing can be both time-consuming and expensive. At-home testing kits reduce the need for medical visits or laboratory appointments by allowing people to collect samples and receive results in their homes. These kits are now available online and in pharmacies and are easily accessible to a diverse range of customers.

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The global movement towards health awareness and preventative healthcare has increased demand for at-home testing kits. People are taking ownership of their health and utilizing these kits to track and improve their nutritional condition.

Some at-home testing kits are linked to digital health platforms, allowing users to track their nutrient levels over time, receive personalized recommendations, and connect with healthcare experts for additional support.

The regulatory landscape for at-home testing kits is evolving, with regulatory bodies like the FDA playing a critical role in ensuring safety, accuracy, and reliability. Stricter regulations and increased scrutiny are being applied to ensure the quality of at-home testing kits, which can foster consumer confidence and promote market growth. These factors highlight the increasing consumer demand for accessible, personalized, and convenient healthcare solutions.

Key Takeaways from the At-home Micronutrient Testing Market:

  • The At-Home Micronutrient Testing industry in the United States is predicted to reach US$ 172.2 million by 2033, increasing at a 6.2% CAGR.
  • The At-Home Micronutrient Testing industry in the United Kingdom is estimated to reach a market value of US$ 29.6 million, expanding at a CAGR of 6.4% by 2033.
  • During the forecast period, the At-Home Micronutrient Testing industry in China is expected to reach a market value of US$ 37.1 million, securing a 6.8% CAGR.
  • The At-Home Micronutrient Testing industry in Japan is predicted to reach US$ 27.1 million by 2033, increasing at a 6.6% CAGR.
  • South Korea's at-home micronutrient testing industry is predicted to achieve a market value of US$ 30.7 million, rising at a 6.4% CAGR during the forecast period.
  • With a CAGR of 6.5% from 2023 to 2033, the strips are expected to dominate the at-home micronutrient testing industry.
  • With a CAGR of 6.0% from 2023 to 2033, the vitamins are expected to dominate the at-home micronutrient testing industry.
  • With a CAGR of 6.7% from 2023 to 2033, the whole blood sample is expected to dominate the at-home micronutrient testing industry.
  • With a CAGR of 5.8% from 2023 to 2033, hospital pharmacies are expected to dominate the at-home micronutrient testing industry.

Key Players in the At-home Micronutrient Testing Market:

  1. Abbott
  2. Danaher Corporation
  3. F. Hoffmann-La Roche Ltd
  4. Siemens Corporation
  5. Quest Diagnostics, Inc.
  6. bioMerieux SA
  7. DiaSorin S.p.A.
  8. Thermo Fisher Scientific Inc.
  9. Beckman Coulter, Inc. (BD)
  10. Tosoh Bioscience, Inc.
  11. Cerascreen Uk
  12. LetsGetChecked
  13. Everlywell

Key Developments in the At-home Micronutrient Testing Market:

  • In April 2022, Empower Clinics Inc. launched the Vitamin D Rapid Testing Kit under the Medisure brand to meet the growing demand for vitamin D testing in Canada.
  • In March 2020, to increase the visibility of its brand, Thermo Fisher Scientific stated that the Hydroxy Vitamin D test is now available in the United States.

At-home Micronutrient Testing Market Segmentation:

By Product:

  • Strips
  • Cassettes

By Micronutrient Type:

  • Vitamins
  • Minerals

By Sample Type:

  • Whole Blood
  • Urine

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Hypermarkets/Supermarkets
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa