July 24, 2024

Fertility And Pregnancy Rapid Test Kits Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

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 used to determine fertility status and early pregnancy detection through home use. These kits enable detection of fertility hormones like luteinizing hormone and human chorionic gonadotropin which helps in determining ovulation windows and pregnancy respectively. The advantages of these kits are convenience of home use, availability without prescription, and accuracy of results. Growing awareness about fertility health, busy lifestyles, and preference for self-monitoring are increasing the demand for self-use diagnostic kits.

Read More Insights: https://www.coherentmarketinsights.com/market-insight/fertility-and-pregnancy-rapid-test-kits-market-3456

Market key trends:

One of the key trends in the fertility and pregnancy rapid test kits market is the launch of innovative home use products with advanced technologies. Manufacturers are focusing on developing kits that can detect hormones from urine and blood samples with high sensitivity. This is enabling early detection within a few days of conception. Another trend is the introduction of digital readers and applications that provide easy-to-read results and fertility calendars. This is making self-testing more convenient. Rising health consciousness and preference for early testing and monitoring among consumers is also expected to drive the adoption of self-diagnostic rapid test kits during the forecast period.

Porter’s Analysis

Threat of new entrants: The fertility and pregnancy rapid test kits market is moderately consolidated, posing a moderate threat of new market entrants. Development of new products requires high R&D investments and regulatory approvals.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative pregnancy kits. However, branded products have customer loyalty providing stability to existing players.
Bargaining power of suppliers: A few major players dominate the supply side. Hence suppliers have moderate bargaining power.
Threat of new substitutes: There exists a low threat from substitute products. Alternatives include ultrasound scans and blood tests but rapid kits offer instant and easy to use results.
Competitive rivalry: Being a consolidated market, the intensity of competition is high among existing players to gain market share. Players compete based on product features, reliability and pricing.

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 regarding early diagnosis of fertility disorders and pregnancy.

Regional analysis: North America dominates the global market owing to high awareness levels and easy availability of novel products. However, Asia Pacific is expected to witness the fastest growth on account of rising healthcare expenditure and improving access to diagnostics.

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. Key players are focused on new product launches, especially affordable low-cost kits, to further penetrate developing markets and increase market share.