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Empowering Parenthood: Pregnancy Test Kits Lead Market Report 2024
Pregnancy Test Kits Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2.24 billion In 2028 At A CAGR Of 5.6% :
The pregnancy test kits market size has grown strongly in recent years. It will grow from $1.7 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to development of early pregnancy tests, increased women's health awareness, educational campaigns, global population growth, home testing convenience, rise of e-commerce..
The pregnancy test kits market size is expected to see strong growth in the next few years. It will grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rising fertility awareness, market expansion in developing countries, regulatory support for home testing kits, telehealth adoption, customization and personalization.. Major trends in the forecast period include digital pregnancy tests, home-based and self-testing options, integration of smartphone technology, integration of artificial intelligence, point-of-care testing..
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Pregnancy Test Kits Market Major Segments
Key Driver - Surge In Unplanned Pregnancies Boosts Demand For Pregnancy Test Kits Market
The rising rate of unplanned pregnancies is expected to propel the growth of the pregnancy test kits market. Unplanned pregnancies are defined as pregnancies that are either unwanted or unplanned, such as those that happen when no children or additional children are desired. A pregnancy test kit can determine if a woman is pregnant, regardless of whether the pregnancy is planned or unplanned, and helps to decide the pregnancy. For instance, in March 2022, according to the United Nations Population Fund, a US-based sexual and reproductive health agency, there are 121 million unintended pregnancies globally each year. Moreover, Afghanistan's unintended pregnancies are expected to reach 4.8 million in 2025. Therefore, the rising rate of unplanned pregnancies is expected to drive the growth of the pregnancy test kits market.
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Prominent Trend - Innovative At-Home Pregnancy Test Kits Transform The Market
Major companies operating in the pregnancy test kits market are developing innovative at-home test kit products such as PregaScreen to increase profitability in the market. PregaScreen is an at-home pregnancy test kit that can detect the presence of human chorionic gonadotropin (hCG) in urine, which is accurate when used correctly. For instance, in June 2022, Mylab Discovery Solutions Pvt. Ltd., an India-based biotechnology research company, launched PregaScreen, an at-home pregnancy test kit. The test kit enables women to determine pregnancy status independently, delivering exact results in minutes, boasting an accuracy rate of 99.99%. Each kit includes a pregnancy stick and a dropper. PregaScreen is a testing approach for women to validate pregnancy after missing the initial menstrual period.
Pregnancy Test Kits Market Players
Major companies operating in the pregnancy test kits market report are Johnson & Johnson, Procter & Gamble Co., Abbott Laboratories, BioMerieux SA, Alere Inc, Piramal Enterprises Ltd, Quidel Corporation, Mankind Pharma, Cardinal Health Inc., Healthpoint, EKF Diagnostics Holdings PLC, Sugentech Inc, Egens Group, INTEC Group, Medsource Ozone Biomedicals, SPD Swiss Precision Diagnostics, Geratherm Medical AG, Princeton BioMeditech Corporation, Cupid Limited, Easy Healthcare Corporation, Axis Medicare Ltd., Gregory Pharmaceutical Holdings Inc, AccuQuik Test Kits, Sara Health Care Pvt Ltd., Hicks Thermometers India Limited, Fairhaven Health LLC, Atlas Medical Group, Germaine Laboratories Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the pregnancy test kits market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pregnancy test kits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pregnancy Test Kits Market Report Structure
3. Pregnancy Test Kits Market Trends And Strategies
4. Pregnancy Test Kits Market - Macro Economic Scenario
5. Pregnancy Test Kits Market Size And Growth
…..
27. Pregnancy Test Kits Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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