Global Pregnancy Test Kit Market: Revenue Growth, Market Status, Revenue Growth by the end of 2023
Recent report published by research nester titled “Global Pregnancy Test Kit Market Analysis & Opportunity Outlook 2023” delivers detailed overview of global pregnancy test kit market in terms of market segmentation by product type, by test type, by distribution channels and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global pregnancy test kit market has been segmented by test type into LH urine test, hCG urine test and FSH urine test. Among these segments, hcG urine test dominated the overall global pregnancy test kit market by holding the market share of 43.0% in 2015.
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The global market of pregnancy test kit is anticipated to reach a significant market valuation by the end of 2023 by expanding at a compound annual growth rate of 42% over the period 2015-2023 which can be attributed to growing rate of pregnancy across the globe. Factors such as growing literacy rate and changing lifestyle among women population combined with growing number of online stores are estimated to propel the growth of global pregnancy test kit market with noteworthy revenue by the end of 2023.
In the regional segment, North America pregnancy test kit market is believed to hold first rank by expanding at a compound annual growth rate of about 3.8% over the period 2015-2023. This can be attributed to higher spending on healthcare sector in this region. Further, Western Europe pregnancy test kit market is anticipated to witness promising growth with growing adoption of pregnancy test kits. Additionally, growing urbanization and rapidly expanding population are some of the factors that will propel the growth of global pregnancy test kit market in Asia-Pacific region.
Technical Advancement and Increasing Awareness to Hone the Market
The growth of the market is driving on the back of increase in pregnancy rates combined with rising unplanned pregnancy cases. This has further spiked the demand for pregnancy test kits across the globe. Further, the growing awareness and continuous technological advancements in pregnancy test kits are the major factors that are expected to benefit the expansion of pregnancy test kits market around the globe.
However, lack of awareness in under-developed countries and huge price variability among various players are some of the factors that are likely to inhibit the growth of the global pregnancy test kit market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global pregnancy test kit market which includes company profiling of Alere Inc., Prestige Brands Holdings Inc., Quidel Corporation, Procter & Gamble Co., Abbott Laboratories, Kent Pharmaceuticals, Cardinal Health and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pregnancy test kit market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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