The demand for the United States Covid-19 Home Testing Kits Market in terms of revenue was worth USD 4575.2 Million in 2021 and is expected to reach USD 1723.7 Million in 2026, growing at a CAGR of -34.2% from 2021 to 2026. The US Covid-19 Home Testing Kits Market is anticipated to expand due to the Easy Availability of COVID-19 Self-testing Kits at Pharmacies and Supermarkets.
COVID-19 Self-testing is an examination that takes place at home. It is paving the way for new approaches to the rapid diagnosis of various diseases. These kinds of tests are comfortable and convenient, as they can be taken at any time and require a small procedure. Some products provide instant results, while others are sample collection tools that must be sent to a laboratory for processing. Customers are inclined towards self-testing kits as they are convenient and give quick results.
Covid-19 self-testing has had a positive impact on the market in the United States. In the past two years, COVID-19 has drastically changed people's lives and negatively impacted the manufacturing industries due to various factors like lockdowns, disruptions in the supply chain, and restrictions on transportation. However, self-testing is an exception to these factors. Meanwhile, since medical devices are included in essential services, these kits are easily available online and in pharmacies. During the pandemic, people did not frequently visit hospitals due to a fear of infections. Several companies and the government invested in the COVID-19 self-kit to achieve a quick result and limit infection. For example, on October 6th, 2021, the White House planned to spend an additional $1 billion on rapid at-home COVID tests. As a result, research facilities for self-testing kits have been added to incorporate technological advancements into the kits.
In addition, the increasing number of health conditions due to modern lifestyles has led companies to create technologically advanced equipment that can effectively identify various health problems in the United States. People are avoiding lengthy processes for the diagnosis of diseases, and to avoid these processes, they go for self-testing kits for diagnosis. In addition, the growing number of product approvals is also supplementing market growth in this country. For instance, on November 17th, 2020, the FDA authorized the first COVID-19 test for self-testing at home, which was developed by Lucira Health, formerly known as Diassess. The company has increased the EUA for the Lucira Covid-19 All-In-One kit, which is a prescription-only test that can be used at home to detect viral RNA on self-collected nasal swabs by people aged 14 and older.
Excessive adoption of the Covid-19 Home Testing Kits Market in the US has led many businesses to invest millions of dollars in the market. ACON Laboratories, Inc., Abbott Laboratories, BTNX Inc., Quidel Corporation, Thermo Fisher Scientific, Access Bio, Lucira Health, Ellume, Ihealth, Orasure, and many other businesses are contributing to deepening their roots in this sector by executing organic strategies. For example, Abbott announced that the U.S. Food and Drug Administration (FDA) has issued an emergency use authorization (EUA) for its BinaxNOW COVID-19 Ag Card home rapid test for the detection of COVID-19 infection. All of these business strategies are increasing Covid-19 Home Testing Kits Market sales in the United States.
According to BrandEssence Analyst, “With more sophisticated technology and immense investments in the self-testing will result in promising growth for the United States Covid 19 self-testing market is projected to reach USD 1723.7 Million in 2026.
Easy Availability of COVID-19 Self-testing Kits at Pharmacies and Supermarkets Drives the Market Over The Assessment Period.
The easy availability of self-testing kits at pharmacies, over-the-counter supermarkets, and online pharmacies is another factor supplementing the growth of the United States self-testing market. Over the last few years, the use of the e-commerce industry has shown tremendous growth in the U.S., especially during this Covid-19 pandemic. The self-testing kits are no exception it is also easily available on online sites, company websites, and pharmacies as well as in supermarkets.
The number of Covid-19 self-testing are made available over the counter which is also boosting the market growth. The availability of self-testing in-store will help ensure customers have access to testing solutions when and how they need them at home or at one of the conveniently located testing sites. For instance, as per the news published on 19th April 2021, Abbott’s BinaxNOW™ COVID-19 self-test was made available over the counter at stores in partnership with Walgreen Pharmacies to allow for greater access to testing. Hence, these initiatives to buy an accurate and affordable test is augmenting the market growth of US Covid-19 Home Testing Kits Market for the forecast period.
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