Pregnancy Test Kits Global Market Analysis: Growth Drivers, Segmentation, and Emerging Trends

"The Business Research Company recently released a comprehensive report on the Global Pregnancy Test Kits Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

Johnson & Johnson, Procter & Gamble Co., Abbott Laboratories, Churc*h & Dwigh*t Co Inc, 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.

Pregnancy Test Kits Market 2024 Key Insights:

• The Pregnancy Test Kits Market is expected to grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• High Treatment Costs And Limited Insurance Coverage Impede Panic Disorder Market Growth
• 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.
• 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

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