pregnancy test kit market is likely to behold a CAGR of 4.8% during the forecast period i.e. 2015-2023. Rapidly expanding population in the region, rising per capita income and growing urbanization are some of the major factors which are projected to bolster pregnancy test kit market in countries such as India and China.
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Pregnancy test kits are medical devices which are used to diagnose the possibility of pregnancy in females. The device detects tiny amount of hCG (Human Chorionic Gonadotrophin; female pregnancy hormone), the amount of which increases during early stages of pregnancy in the body.
Global pregnancy test kit market is envisioned to exhibit a compound annual growth rate (CAGR) of 42% during 2015-2023. Geographically, global pregnancy test kit market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of world.
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Market Size and Forecast
North America is believed to hold the first rank in global pregnancy test kit market during 2015-2023. The market in the region is likely to flourish at a CAGR of 3.8% over next few years.
Higher spending on healthcare sector is expected to be a major growth driver of North America pregnancy test kit market.
Western Europe pregnancy test kit market is also expected to witness a promising growth sparked by rising adoption of digital pregnancy test kit devices in the region.
- Market Segmentation
- By Product
Based on products, global pregnancy test kit market can be segmented into and digital devices and line-indicator devices (strip/dip sticks, cassettes and mid-stream devices)
- By Test Type
On the basis of test type, global pregnancy test kit market is segmented as LH urine test, hCG urine test and FSH urine test. With 43.0% share in 2015, hCG urine test accounted for the largest pregnancy test kit market.
- By Distribution Channels
Global pregnancy test kit market is divided on the basis of distribution channels into drugstores, pharmacies, online retail and supermarkets.
Growth Drivers and challenges
Continuous technological advancements in pregnancy test kits, rising demand of self-contained and fast test and increasing age of first pregnancy are some of the major factors, which are likely to bolster the growth of global pregnancy kit market over the forecast period i.e. 2015-2023.
However, mushrooming new small players with a very little or no medical equipment business history, a huge price gap between the top players and small un-organized players’ are some of the factors to expected to hamper the growth of global pregnancy test kit market in the future.
This report also provides the existing competitive scenario of some of the key players of the global pregnancy test kit market which includes company profiling of Accuquik™ Test Kits, Procter & Gamble Co, Alere Inc., Quidel Corporation, Prestige Brands Holdings, INSIGHT Pharmaceuticals(Prestige Brands), Precision Diagnostics LLC, CVS Health Corporation, Boots Pharmaceuticals and Germaine Laboratories. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global pregnancy test kit market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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