The global homecare pregnancy test kits market is forecast to reach USD 1391.8 million in 2027, according to a new report by Reports and Data. The global homecare pregnancy test kit market is growing at a substantial pace owing to the growing acceptance and inclination of the patients towards the newly invented advanced testing kits over the conventional ones. In order to substantialize the testing technique, every year, the research and development are carried out tremendously, and government bodies invest a handful of the amount in their RD, which fuels up the market growth by a large margin during the forecast period.
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The key factors responsible for driving the growth of the homecare pregnancy test kit market include the technological advancements in testing, a rise in the incidence of unplanned pregnancy globally, an increasing number of RD, and improving effectiveness and clinical outcomes of the testing kits. Besides, the increase in healthcare expenditure and increasing demand for self-contained and quick test results coupled with the increasing age of women having first pregnancy are propelling the market growth. There is also the rapidly increasing disposable income in developing countries like India and China, which is coupled with the fact that the middle class in these regions is expanding on a large scale. Thus, the increasing investments the key market players for product development in the emerging market are expected to drive the growth of the overall market eventually. Furthermore, due to constant product innovation and enhanced accuracy, the adoption of an enhanced marketing strategy is driving the market during the forecast period.
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Increasing affordability of drugs and therapeutics, growing awareness regarding advanced surgical and treatment approaches, increasing number of government programs to support healthcare facilities and medical treatments, growing population suffering from chronic and lifestyle induced diseases, and rising level of disposable income to drive market growth over the forecast period. The pharma and healthcare industry has witnessed significant revenue growth with the emergence of COVID-19 pandemic. Increasing regulatory approvals, robust pipeline of drugs and therapeutics, growing RD activities, and rising investment to accelerate clinical research are some other factors driving market growth.
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Further key findings from the report suggest
- The North America homecare pregnancy test kits market is anticipated to dominate the in the global market. The major driving factors for the growth can be attributed to the extensive RD activities that provide a platform for growth through consistent new product approvals.
- The urine test for HCG is expected to have the largest market share among the other segments. Technological advancements in pregnancy test kits and rapid expansion of the distribution network of product manufacturers for widespread availability of kits are the factors providing traction to the market during the forecast period.
- The rising prevalence of teen pregnancy is driving the market substantially. For instance, the U.S. teen pregnancy rate is considerably higher than in other western nations, and racial/ethnic and geographic disparities in teen birth rates persist in various parts of the region.
- On the basis of product, the market for digital devices for pregnancy testing is expected to dominate due to the growing age of first pregnancy, continuous technological advancement, and attractive product features such as smartphone app connectivity in pregnancy test devices are likely to drive the growth of the global pregnancy test device market over the forecast period.
- On the basis of distribution channel, online prescription stores are expected to gain huge market traction due to the increase in internet penetration and smartphone ownership, along with the ease of ordering medications through an e-commerce platform.
- Key participants include Abbott Laboratories Boditech Med Inc. Cardinal Health Confirm Biosciences Germaine Laboratories Siemens Piramal Enterprises Danaher Corporation Procter Gamble Co., and Quidel Corporation among others.
For the purpose of this report, Reports and Data have segmented into 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
- Others
Product Outlook (Revenue, USD Billion; 2017-2027)
- Digital Devices
- Strips/Dip Sticks Cards
- Line Indicators
- Cassette
- Others
Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
- Pharmacies
- Drug Store
- Online
- Supermarkets
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.k
- France
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
- Brazil
Key Questions Address in the Report:
- What is the growth rate of the Homecare Pregnancy Test Kits Market ? What is the market size the Homecare Pregnancy Test Kits Market is expected to reach by 2027?
- What are the key growth driving and restraining factors of the Homecare Pregnancy Test Kits Market ?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are key opportunities and growth prospects of the Homecare Pregnancy Test Kits Market over the forecast period?
- Which region is expected to show significant growth in the coming years?
- Which application segment is expected to be the most lucrative over the forecast period?
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