Global Fertility and Pregnancy Rapid Test Kits Market, By Product Type (Pregnancy Rapid Tests (Line-Indicator Devices (Strips/Dip Sticks, Mid-Stream, Cassettes), Digital), Fertility Rapid Tests (Line-Indicator, Digital)), By Test Type (LH Urine, FSH Urine, hCG Blood, hCG Urine), By Distribution Channel (Hospital Channel, Retail Channel, Online Channel), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) is estimated to be valued at US$ 1,451.9 Million in 2023 and is expected to exhibit a CAGR of 4.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Since the cost of pregnancy and fertility rapid test devices is relatively high in the U.S. and Europe and they are not typically covered by pregnancy coverage policies or health insurance, effective reimbursement policies and cost reduction are expected to present lucrative growth opportunities for market participants. Rapid test kits for detecting pregnancy and infertility have become more popular due to rising consumer preference for smartphone app connectivity, alluring product features, and technological developments. These elements are increasing demand for these devices, and it is anticipated that the market will expand significantly throughout the projection period.
Global Fertility and Pregnancy Rapid Test Kits Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
Growing awareness of family planning and the prevalence of infertility are two major factors driving the market for fertility and pregnancy quick test kits. Due to the pandemic and the fact that many couples are delaying parenthood due to financial and physical concerns, the significance of reproductive health has received even more attention.
Additionally, COVID-19 has hampered the global supply chain, which has resulted in a shortage of the components and raw materials required to make these test kits. Pregnancy test kits have seen an upsurge in demand as a result of the pandemic, which has complicated the supply chain and raised pricing.
Global Fertility and Pregnancy Rapid Test Kits Market: Key Developments
Increasing availability of over-the-counter test kits, which has made testing more convenient and accessible for women. Technological advancements such as smartphone app connectivity and digital tests, which have made testing more accurate and easier to use. Growing demand for decentralized diagnostic technologies, which has led to the development of portable and self-contained test kits. In June 2022, Mylab Discovery Solutions, an Indian biotech firm focused on developing & commercializing Molecular, Serological, Immunology testing solutions launched the PregaScreen, an at-home pregnancy test kit that allows women to detect their pregnancy status themselves.
Browse 31 Market Data Tables and 22 Figures spread through 171 Pages and in-depth TOC on “Global Fertility and Pregnancy Rapid Test Kits Market, By Product Type (Pregnancy Rapid Tests (Line-Indicator Devices (Strips/Dip Sticks, Mid-Stream, Cassettes), Digital), Fertility Rapid Tests (Line-Indicator, Digital)), By Test Type (LH Urine, FSH Urine, hCG Blood, hCG Urine), By Distribution Channel (Hospital Channel, Retail Channel, Online Channel), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)”
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Key Takeaways of the Global Fertility and Pregnancy Rapid Test Kits Market:
- The market for pregnancy quick tests, which accounts for a portion of the global fertility and pregnancy rapid test market, had a value of US$ 1,217.50 Mn in 2019 and is projected to grow to US$ 1,731.4 Mn by 2027 at a CAGR of 4.5%. Over the course of the forecast period, an increase in adolescent pregnancies is anticipated to support segment growth. For instance, the World Health Organization (WHO) estimates in 2021 that between 2015 and 2019, 21 million females in underdeveloped regions become pregnant each year.
- The hCG Urine segment held dominant position in the global fertility and pregnancy rapid test kits market, accounting for 43.3% share in terms of value, followed by LH Urine, and FSH Urine, respectively.
- Pregnancy testing using hCG Urine is easy compared to other tests, and women can easily check for pregnancy themselves using test kits and urine sample. hCG level are high in the urine in pregnant women, which can be easily checked using pregnancy tests. These factors are expected to support growth of the market over the forecast period.
- The North America region held dominant position in the global fertility and pregnancy rapid test kits market in 2018, accounting for 50.7% share in terms of value, followed by Asia Pacific and Europe, respectively.
- North America region has presence of key manufacturers, who offer their products to the potential customer base present in the region. Factors such as product launches are expected to support growth of the region over the forecast period.
- Major players operating in the global fertility and pregnancy rapid test kits market include, SPD Swiss Precision Diagnostic GmbH, DCC Plc., Procter & Gamble, Abbott Laboratories, Alere Inc., Quidel Corporation, bioMérieux SA, Church & Dwight Co., Inc., Prestige Brands Holdings, Inc., and Geratherm Medical AG.
