Digital Pregnancy Test Market Is Projected to Grow With a Significant CAGR

The global digital pregnancy test market is projected to grow with a significant CAGR during the forecast period, i.e., 2022-2030 on account of the increasing investment in the advancements of technology and the rising adolescent pregnancy rate. As per the World Health Organization (WHO), the estimated 12 million women aged between 15-19 gave birth each year, with over 10 million of these pregnancies being unintended. The growing number of birth rate among the adolescent population is expected to boost the demand for digital pregnancy test products globally. Moreover, the advancement in technology, with digital test kits being more accurate, is estimated to boost the market growth.

Research Nester released a report titled "Digital Pregnancy Test Market: Global Demand Analysis & Opportunity Outlook 2030" which delivers detailed overview of the global digital pregnancy test market in terms of market segmentation by product type, usability, sales channel, and region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

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The global digital pregnancy test market is segmented by product type into branded test kits, and private test kits. Among these segments, the branded test kit segment is anticipated to hold the largest share by the end of 2021 on the back of the increasing number of birth rate globally, along with raised concerns for population control, which has increased the demand of digital pregnancy test products. On the basis of sales channel, the market is segmented into online and offline, out of which, the offline segment held the largest share in the global digital pregnancy test market during the forecast period owing to the ease of availability in local medical stores and pharmacies.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the digital pregnancy test market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period on account of growing awareness among masses for over-population. Moreover, increasing cases of adolescent pregnancies is another major factor expected to boost the market growth. The market in the North America region is estimated to hold the largest share during the forecast period. This can be attributed to the presence of leading digital pregnancy kit manufacturers in the region, especially in the United States, who are extensively involved in the research and development for innovative of new digital pregnancy test products.

Increasing Birth Rate and Growing Awareness among the Population to Drive Market Growth

According to the U.S. Centre of Disease Control and Prevention (CDC), more than 0.19 million women aged between 15-19 gave birth in the year 2017. Increasing concerns for teen pregnancy is expected to drive the market growth over the forecast period.

The increasing awareness among the population for the growing birth rates and increasing adolescent pregnancy is expected to boost the market. Additionally, the rising demand for self-testing pregnancy kits is also expected to boost the market growth in upcoming years.

However, high cost of branded test kits in the under-developed and developing countries are some of the factors that are estimated to restrain market growth in the near future.

This report also provides the existing competitive scenario of some of the key players of the global digital pregnancy test market which includes company profiling of Swiss Precision Diagnostics Gmbh, Inc., Sugentech, Inc., Diagnosis S.A., Clarity Diagnostics, LLC, AdvaCare Pharma (Accuquik Test Kits), Mankind Pharma Ltd., Informa Group (Omnia), Gregory Parmaceutical Holdings, Inc., and Sara Healthcare Pvt. Ltd. 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 digital pregnancy test 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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This release was published on openPR.