The global Fertility And Pregnancy Rapid Test Kits Market is estimated to be valued at US$ 1,451.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fertility and pregnancy rapid test kits are diagnostic kits used to detect the presence of hormones like hCG (Human Chorionic Gonadotrophin) in urine or blood, which is an early sign of pregnancy. These test kits provide fast and accurate results within minutes and helps detect pregnancy at an early stage. They can also help identify the most fertile days of a woman’s menstrual cycle to improve the chances of conception.
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Market key trends:
One of the key trends in the fertility and pregnancy rapid test kits market is the rising awareness about fertility healthcare. Increasing cases of fertility-related issues and delayed pregnancies have prompted people to timely plan their pregnancies. This has boosted the demand for ovulation prediction test kits and early pregnancy detection kits. Moreover, the introduction of innovative home use rapid test kits by key players with advanced technologies for early detection is another major trend fueling the market growth. However, a drawback of some rapid test kits is the possibility of false reports which is a key challenge for this market.
Market key trends:
The fertility and pregnancy rapid test kits market has been witnessing increased adoption of home-based rapid testing kits. Growing awareness regarding early detection and management of pregnancy along with higher efficiency and accuracy of rapid test kits compared to traditional blood and urine tests is driving the demand for rapid testing. Furthermore, the advent of digital pregnancy test kits that can be connected via Bluetooth to smartphones is introducing advanced convenience and reliability in testing. Rising focus on pregnancy monitoring and planning is expected to further propel the uptake of rapid pregnancy test kits.
SWOT Analysis
Strength: Easy to use format and quick results within minutes.
Weakness: Lack of accuracy sometimes as compared to lab tests.
Opportunity: Growing health awareness andpreference for home based testing.
Threats: stringent regulations pertaining to quality standards and new rapid test kit launches.
Key Takeaways
The global fertility and pregnancy rapid test kits market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing awareness about early pregnancy detection and family planning.
The North America region accounts for the major market share in the fertility and pregnancy rapid test kits owing to presence of established market players and growing awareness about pregnancy and ovulation monitoring in the region.
Regional analysis
Asia Pacific region is expected to witness fastest growth in the fertility and pregnancy rapid test kits market during the forecast period owing to large patient population, increasing infertility rates, and rising medical tourism in the region.
Key players
Key players operating in the fertility and pregnancy rapid test kits market are 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.