Pregnancy Point Of Care Testing Market Is Likely To Envisage Incremental Growth At A Healthy 4.5% CAGR During The Forecast Period 2018-2028

According to Fact MR’s recent market research, Pregnancy Test Kits sales to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.

Focus on improving overall patient care will remain a chief growth driver. Besides this, Pregnancy Test Kits market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.

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Digital Transformation in Healthcare Presenting Opportunities for Pregnancy Test Kits Market Growth

Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.

Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Pregnancy Test Kits market.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Pregnancy Test Kits market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Pregnancy Test Kits

The report offers actionable and valuable market insights of Pregnancy Test Kits. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Pregnancy Test Kits Market across various industries and regions.

This newly published and insightful report sheds light on Market Insights of Pregnancy Test Kits, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Pregnancy Test Kits Market.

Pregnancy point of care testing market revenues reached US$ 1.2 billion in 2018, according to new study by research firm Fact.MR. Increasing need for rapid and accurate diagnostics with the emergence of advanced technologies is providing an impetus to the ongoing developments in the pregnancy point of care testing market. The study opines that the market will envisage nearly 5% y-o-y in 2019 over 2018, with growing adoption of innovative technologies likely to redefine future trends.

Manufacturers are capitalizing on the increasing ubiquity of smartphones by introducing next-generation pregnancy point of care testing devices that can be connected to smartphone applications, finds Fact.MR. Smartphone-based pregnancy point of care testing products are emerging as a promising alternative to traditional laboratory-based diagnostic testing practices. Leading manufacturers are launching innovating products with smartphone connectivity to cater to the end-users’ demand for easy-to-use at-home pregnancy test kits.

In addition, the study also finds that modern smartphone-based pregnancy point of care testing devices are reducing in size, cost, as well as complexity, and this is an important factor to boost growth of the pregnancy point of care testing market. A mounting number of small businesses are entering the pregnancy point of care testing markets in developing regions and launching innovative smartphone-based products at competitive prices to attract consumers in emerging economies. The study opines that increasing number of new players in the market and growing price gap between leading players and new entrants will influence growth of the global pregnancy point of care testing market in the coming decade.

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Demand for hCG Urine Test Kits will Continue to Grow
Human chorionic gonadotrophin (hCG) urine test kits accounted for nearly 43% revenue share of the global pregnancy point of care testing market in 2018, and the trend will prevail in the upcoming years, according to the Fact.MR study. The study attributes the rising demand for hCG urine test kits to the burgeoning sales of pregnancy test kits across the world. In 2018, pregnancy test kits accounted for more than half the revenue share in the pregnancy point of care testing market, and higher reliability and accuracy of hCG urine tests in pregnancy point of care testing is bolstering its share in the global market at a rapid pace.

Another factor influencing the demand for hCG urine tests in the pregnancy point of care testing market is the end-users’ preference towards urine testing devices over blood testing devices for pregnancy testing. Through both urine and blood tests can be equally accurate, women are showing a preference to use at-home urine pregnancy test kits primarily due to their simplicity and ease-of-use. The Fact.MR study opines that the adoption of hCG urine tests in pregnancy point of care testing devices will continue to increase in the upcoming years.

North America Accounts for over 50% Revenue Share of the Market
In 2018, the pregnancy point of care testing market in North America was valued at US$ 648 million, according to Fact.MR. Growing prevalence of gynecological and fertility disorders, triggered by changing lifestyle, is leading to the increased adoption of pregnancy point of care testing products across the region.

The Fact.MR study finds that leading manufacturers in North America are adopting advanced technologies for competitive advantages with the launch of more reliable and rapid diagnostics. Despite the ambiguity about the accuracy of commonly available pregnancy point of care testing devices, consumer adoption of these products remains high.

With the adoption of innovative marketing strategies and collaborations with various distributors in the region, manufacturers are gearing up to capitalize on lucrative sales opportunities in the North American pregnancy point of care testing market. Fact.MR opines that, though South Asia is emerging as a high-growth market for pregnancy point of care testing market, North America will continue to remain an important regional market for stakeholders in the foreseeable future.

The Fact.MR study offers the futuristic overview of the pregnancy point of care testing market for the forecast period 2018-2028. The study opines that the market will grow at a healthy 4.5% CAGR during the assessment period.

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Report Benefits & Key Questions Answered

Pregnancy Test Kits Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
Pregnancy Test Kits Historical volume analysis: The report provides a comparison of Pregnancy Test Kits’s historical sales and projected sales performance for 2021-2031.
Pregnancy Test Kits Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Pregnancy Test Kits market. It carefully gauges the impact of changing healthcare needs of key demographics globally
Pregnancy Test Kits Consumption by demographics: The report investigates consumer behavior affecting Pregnancy Test Kits demand outlook for the assessment period. Effect of their keenness for digital trends on Pregnancy Test Kits market is carefully analyzed
Post COVID consumer spending on Pregnancy Test Kits: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Pregnancy Test Kits market growth.

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