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Global Pregnancy Testing Market Size Worth USD 1.74 Bn By 2027

Market Data Forecast

HYDERABAD, TELANGAANA, INDIA, December 7, 2022 /EINPresswire.com/ -- As per the research report published by MarketDataForecast, the global pregnancy testing market is anticipated to be worth USD 1.74 billion by 2027 from USD 1.36 billion in 2022, growing at a CAGR of 5.1% from 2022 to 2027.

Medical devices for identifying women's early signs of pregnancy through HCG hormone are referred to as pregnancy testing kits. The Human Chorionic Gonadotropin, also called the female pregnancy hormone quantity, increases in the body during the early weeks of development, doubling its amount every few days.

The surge in infertility and disorders in gynecology Drive Global Market.

The rising cases of infertility are leading to the performance of self-contained tests and laboratory tests a more significant number of times have positively influenced the pregnancy testing market. Then the rise in disposable income, more manufacturers focusing on new product launches, expansions of their markets, mergers and collaborations, and supportive government initiatives are further estimated to promote the growth of the global pregnancy testing market in the coming years.

Rising births and adolescent pregnancies, increasing working population worldwide, leading to delayed pregnancies and infertility, and rising awareness
about the significance of sex education and proper pregnancy protocols is also expected to drive the market growth. Moreover, the CDC reported that the birth rate was 11.0 per 1000 people in the United States in 2020. Also, the National Library of Medicine estimated the reason behind 12 million births was 50% were unplanned pregnancies among the age group of 15-19, which led to 21 million pregnancies. Thus, this factor leads to the growth of the market.
The worldwide public health crisis of COVID-19 has negatively impacted the pregnancy testing market. This is because the pandemic forced the closure of the manufacturing of pregnancy test kits due to limited workforce availability due to stringent covid-19 guidelines and social distancing. Moreover, because of these guidelines, hospital visits by women have reduced along with the surge in Covid-19 cases.

The sample brochure of the report helps you understand the scope of the report and to evaluate the usefulness of the report to make an informed purchase decision; ask for a copy @ https://www.marketdataforecast.com/market-reports/pregnancy-testing-market/request-sample

The ease of use of tests to support the line indicator test segment

The product segment is further divided into Pregnancy Test Kits and Fertility/Ovulation Tests. In addition, the Pregnancy Test Kits are further sub-segmented into Strip Tests, Midstream Kits, Cassette Tests, Digital Tests, and Fertility/Ovulation Tests into Line Indicator Tests and Digital Tests. The line indicator test is presumed to substantially contribute to a high share of the global market due to the increase in the female population and the growing awareness regarding various tests among the female population.

The rising demand for MIS to support the growth of the HCG Urine test segment.

The Procedure segment is divided into HCG Blood Test, HCG Urine Test, LH Urine Test, and FSH Urine Test. The HCG Urine test is anticipated to have a considerable share of value due to the entry of new market players, the increased number of intended and unintended pregnancies, and its high capacity to provide accurate data.

The increase in internet usage supports the Online Retail segment.

The end-user segment is divided into Hospitals & Specialty Clinics, Pharmacies, Online Retail, and Others (Supermarkets and Specialty Retail). The online segment is expected to account for the leading share with a CAGR of 4.88% from 2022 to 2027 due to the variety of online products available, their easy availability, and accessibility across the world.

The report can be customized as per the requirements; reach us @ https://www.marketdataforecast.com/market-reports/pregnancy-testing-market/customization

Regional outlook of the pregnancy testing market:

The North American pregnancy testing market is anticipated to contribute substantially to the global market. This region recorded 36.4% of the global market share in 2021 owing to increased awareness among women, advanced techniques in pregnancy testing, and an increased unplanned pregnancy rate, resulting in growing fertility disorders, leading to increased demand for self-detecting pregnancy kits.

The Asia-Pacific pregnancy testing market is the fastest-growing region, with a CAGR of 6.09% from 2022 to 2027. This is due to a more significant opportunity for market penetration in the region. Also, due to its vast population base, easy accessibility of pregnancy test kits, and online retailers' presence is anticipated to impact market growth positively. Further, awareness regarding pregnancy test kits is growing significantly among the APAC region, accelerating the adoption and usage of these devices.

The European pregnancy testing market accounted third highest share of the market and is expected to register profitable growth with a predicted value of USD 380 million by 2027. This is mainly due to technological advancements, the high frequency of childbirths, and increased public awareness

Analysis of key players in the pregnancy testing market:

Several market players are working diligently toward growth in the industry; for instance, SaliStick test kits would be accessible in Israel, Europe, South Africa, and the United Arab Emirates, according to Salignostics in Nov 2022. Also, CARE ProgramTM, in Oct 2022, was launched by Ambry Genetics to assist patients in making informed decisions, further enhancing family planning and prenatal care.

Here are some of the key market players of the industry: Abbott Laboratories, Cardinal Health, Church & Dwight, Germaine Laboratories, Kent Pharmaceuticals, Piramal Enterprises, Prestige Brands Holdings, Procter & Gamble Co., Quidel Corporation, and SPD Swiss Precision Diagnostics.

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