The rising prevalence of unplanned pregnancies and technological advancement in the field of diagnosis, along with the changing lifestyles, are driving the demand for the market.
Market Size – USD 808.2 million in 2019, Market Growth – CAGR of 8.1%, Market Trends – Increase in unplanned pregnancies and changing lifestyles.
The Global Homecare Pregnancy Test Kits Market is expected to be valued at USD 1391.8 Million in 2027 from USD 808.2 Million in 2019, registering a CAGR of 8.1% throughout the forecast timeline. The industry is expanding at an exponential rate because of the rising inclination and acceptance of a large number of patients towards the modern testing kits compared to the old/traditional ones. For substantializing the technique of the testing, the lab experiments are carried out at a high rate, and various government bodies are investing in R&D, which are propelling the overall industry’s growth.
Several factors are responsible for accelerating the sector’s growth include the fast incorporation of technology in testing, the increasing cases of unwanted/unplanned pregnancy worldwide, and rapid enhancement of clinical outcomes and effectiveness of testing kits. Moreover, the increasing healthcare expenditure and the surging demand for instant test results, combined with the growing age of women for conceiving are contributing to the market expansion. Additionally, growing investments by industry players for developing a wide range of products in emerging nations are fueling the overall industry’s growth.
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However, lack of awareness about homecare pregnancy kits among considerable population, and high prices of these kits are limiting the industry’s growth. Nonetheless, due to enhanced accuracy of products and continuous product innovation, the market is retaining its demand.
The COVID-19 outbreak has been challenging for the patient dealing with various underlying conditions like pregnancy. The industry has observed a downturn in the past few months, which may continue in the coming years. The rising COVID-19 infected patient pool has completely disrupted the healthcare balance.
Further key findings from the report suggest
- The North American market is foreseen to lead the overall industry. The major factors fueling the growth of this regional market can are the growing activities in R&D, providing a platform for growth through the approvals of new product.
- The urine test for HCG sub-segment is holding the highest industry share among various other segments. The technological developments of pregnancy test kits, and the rapidly expanding distribution network of manufacturers in the industry for high availability of these pregnancy kits are providing traction to the sector. Increasing incidences of teen pregnancy is fueling the industry growth substantially.
- The digital devices sub-segment is dominating owing to the rising ages of women for first pregnancy, rapid technological developments, and several lucrative features of products, including connection to smartphone app with testing devices, are majorly propelling the segment’s growth.
- The oline prescription stores sub-segment is gaining a high market traction because of the rising penetration of internet as well as smartphones, along with the facility of ordering any medication via an e-commerce channel.
- Leading players in the sector are Boditech Med Inc., Cardinal Health, Abbott Laboratories, Germaine Laboratories, Siemens, Danaher Corporation, Piramal Enterprises, Confirm Biosciences, Quidel Corporation, and Procter & Gamble Co.
Homecare Pregnancy Test Kits Market Size and Growth By Type of Test (Urine Test For HCG, Home Blood Test Kits for HCG, Others), By Product (Digital Devices, Strips/Dip Sticks & Cards, Others), And By Sales Channel (Pharmacies, Drug Stores, Others), Forecasts To 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/homecare-pregnancy-test-kits-market
For the purpose of this report, Reports and Data has segmented the Global Homecare Pregnancy Test Kit Market on the basis of type of test, product, sales channel, and region:
Type of Test Outlook (Revenue, USD Billion; 2017-2027)
- Urine Test for HCG
- Home Blood Test Kits for HCG
Product Outlook (Revenue, USD Billion; 2017-2027)
- Digital Devices
- Strips/Dip Sticks & Cards
- Line Indicators
Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
- Drug Store
Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
126.96.36.199. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics
Chapter 4. COVID 19 impact assessment
4.1. Homecare pregnancy test kit Industry Outlook
4.1.1. Q1 2020
4.1.2. Q2 2020
4.1.3. Q3 2020
4.2. Rising Demand for Homecare pregnancy test kit market due to COVID-19 pandemic
4.2.1. Scenario 1: Homecare pregnancy test kit market decreased by 4%
188.8.131.52. Scenario 1 timeline
184.108.40.206. Key indicators for scenario 1
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