Global Pregnancy Test Kit Market Highlights Over 2022 – 2031
The global pregnancy test kit market is estimated to garner notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to increasing health awareness and scientific advancements in the healthcare sector. Furthermore, with the advent of the pandemic, demand for the pregnancy test kit has increased manifold as pregnant women are at higher risk of getting infected with COVID-19. The data released by the US Department of Health & Human Services states that a home pregnancy test can tell whether a woman is pregnant with almost 99% accuracy. Also, people want to eliminate unnecessary hospital visits, on account of this, the global pregnancy test kit market is projected to grow during the forecast period. Furthermore, since the test is quick and easy to perform, it enables women to seek antenatal care as early as possible. Also, pregnancy testing kits allow the user to test instantly and start with maternal care. This eliminates the probability of adolescent deaths. Moreover, according to the data released by World Health Organization, 12 million girls aged 15–19 years give birth each year in developing regions, and complications during pregnancy and childbirth are the leading cause of death for 15-19 years, old girls, worldwide. Such factors are estimated to boost the global pregnancy test kit market growth during the forecast period.
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The market is segmented by distribution channel into pharmacies, drug stores, maternity clinics, and online sales, out of which, the pharmacies segment is anticipated to hold a notable share in the global pregnancy test kit market on the back of the easy availability of kits in pharmacies. The easy and quick testing results given by the kit is also estimated to boost the segment growth.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Pregnancy Test Kit Market Regional Synopsis
Regionally, the global pregnancy test kit market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness modest growth over the forecast period on the back of developed healthcare infrastructure in the region. The USA is the highest spending country in the healthcare sector. It is estimated that in 2020, the US spent approximately 4.1 trillion dollars on healthcare. On the back of the availability of efficient healthcare infrastructure in the region the global pregnancy test kit market is expected to grow during the forecast period.
The global pregnancy test kit market is projected to grow during the forecast period in the Asia Pacific region due to the increasing initiatives taken by the governments and raising awareness amongst the people. The region has a high population and according to data published by UNICEF every day 67,385 babies are born only in India. Hence Asia Pacific region is expected to hold lucrative opportunities for the growth of the global pregnancy test kit market during the forecast period owing to the presence of a larger consumer base.
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The global pregnancy testing kit market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
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The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global pregnancy test kit market includes the following segments:
By Type
- Branded Test Kits
- Private Label Test Kits
- Type 3
- Type 4
By Distribution Channel
- Pharmacies
- Drug Stores
- Maternity Clinics
- Online Sales
Growth Drivers
- Growing Literacy Rate Amongst Women
- Ease of Accurate Pregnancy Test with Test Kits
- Increasing Governmental Initiatives
Challenges
- Lack of Awareness Regarding Reproductive Health
Top Featured Companies Dominating the Market
- bioMerieux SA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Easy Healthcare Corporation
- Atlas Medical Group.
- Cardinal Health, Inc.
- Egens Group
- EKF Diagnostics Holdings PLC
- Germaine Laboratories, Inc.
- Mankind Pharma Ltd.
- Piramal Enterprises Ltd.
- Quidel Corporation
