Increasing awareness regarding the availability of pregnancy test kits with their clinically established safety and effectiveness
HYDERABAD, TELANGANA, INDIA, October 10, 2018 /EINPresswire.com/ — The growing advance in technology has brought health care to the doorsteps of the consumer. One such development is the creation of pregnancy testing kits, which are used to confirm pregnancy among women. The earlier tiresome process of visiting hospitals, waiting in long queues for hours, and other complexities can be avoided with the simple use of these testing apparatus.
The Global Pregnancy Testing Market was valued USD 1.29 billion in 2018 and is predicted to achieve USD 1.65 billion by 2023, growing at a CAGR of 5.10%. Continuous technological advancements in pregnancy test kits, rising demand of self-contained and quick tests, and increasing age of first pregnancy are a number of principal factors that can probably bolster the expansion of global pregnancy kit market.
Pregnancy test kits are used for an early indication of pregnancy. The pregnancy test kits market has been evaluated as average growing market and expected that the market is capable to reach high growth figures in next few years. Home pregnancy tests are simple to use, cheap, and provide results in a couple of minutes. Most at-home pregnancy tests offer around 95% accurate results if used as per instructions.
A fact sheet released by the World Health Organization states that about 35% of pregnancy cases reported every year were accidental and around 15% cases were that of teenage pregnancies and the range is anticipated to increase more within the next five years. These are the vital reasons resulting in the market growth of pregnancy test kits market.
Other factors like the increasing awareness regarding the availability of pregnancy test kits with their clinically established safety and effectiveness has resulted in an increasing demand for self-detecting pregnancy kits thereby increasing the growth rate and size of world pregnancy test kits market. Moreover, the escalating adolescent pregnancy rate, promotional campaigns undertaken by makers of these pregnancy tests or recognition kits is driving the expansion of pregnancy test kits market.
The complete report for the global pregnancy testing market provides all the information required for the decision making and investing opportunities based on the market size, revenue, history, current trends and future predictions. It also provides the deep sights of the global market based on the product type, test type and regional analysis, along with the competitive landscape.
On the basis of product type, the market is separated into
• Pregnancy test kits
• Fertility test kits
On the basis of test type, the market is separated into
• FSH urine test
• Luteinizing Hormone urine test
• Human Chorionic Gonadotropin hormone blood test
• Human Chorionic Gonadotropin hormone urine test
On the basis of geographical analysis, the global market for pregnancy testing is examined under the regions of North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa. North America dominates the pregnancy testing market attributable to advanced techniques in pregnancy testing, sophisticated healthcare infrastructure, early adoption of innovative technologies, increasing cases of adolescence pregnancies, and the personal income of the population. The Asia-Pacific region is expected to register the highest CAGR in the forecast period owing to its vast population base in developing countries like India and China, along with the increasing awareness about these testing kits.
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The key players that are included in this report for global pregnancy testing market are Alere Inc., Quidel Corporation, Prestige Brands Holdings, Church & Dwight Co. Inc., bioMérieux SA, Rite-Aid, Procter & Gamble Co., DCC Plc., and Swiss Precision Diagnostics GmbH.
It is evident from the market report that the future reveals enormous growth possibilities with the raising number of pregnancy cases among young women of the world. Additionally, these testing kits are finding more demand among conservative families in the developing and under developed regions. Asia Pacific is the most attractive market for the manufactures due to the availability of large untapped local regions.
Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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Source: EIN Presswire