The Digital Pregnancy Test Kits Market is Estimated to Witness High Growth Owing to Increasing Adoption of Home-Based Diagnostic Testing Methods

Industrial
Sachin CMI's picture

The digital pregnancy test kits market is estimated to be valued at US$ 385.61 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Digital pregnancy test kits are used to detect the presence of human chorionic gonadotropin (hCG) hormone in urine to confirm pregnancy at home. These are easy-to-use kits that provide early results through a digital display in the form of text such as "Pregnant" or "Not Pregnant". They eliminate ambiguity in line or symbol-based results seen in traditional pregnancy strips. Digital pregnancy kits have gained popularity due to features such as convenience, accuracy, and discretion they offer in privacy of one's home.

Market Dynamics:
The digital pregnancy test kits market is expected to witness significant growth over the forecast period owing to increasing preference for home diagnostic tests. According to the Centers for Disease Control and Prevention, approximately 40% of pregnancies in United States are unintended. Early detection and confirmation of pregnancy enables women to make informed decisions and seek timely healthcare. Growing awareness about early pregnancy signs is also fueling adoption of home kits. In addition, digitization and connectivity features offered in new connectivity-enabled kits allow users to share results with caregivers remotely, thereby supporting the overall market growth during the forecast period. Changing lifestyles and rise in disposable income levels in developing countries also contribute to market expansion.

SWOT Analysis

Strength: Digital pregnancy test kits provide accurate results and are easy to use. They eliminate guesswork and are available over the counter without a prescription. The results are available instantly to satisfy consumers' need for quick confirmation.
Weakness: Due to the involvement of mobile apps, digital kits have scope for technological errors and glitches. There are also privacy and security concerns around test data being shared on apps or cloud.
Opportunity: Growing online sales and e-commerce platforms provide an avenue to increase outreach and access in developing nations. Rapid urbanization and dual-income families driving the demand for easy to use self-diagnostic kits.
Threats: Stringent regulatory processes for approval and quality standards increase entry barriers for small players. Launch of low-cost generic test strips by local manufacturers impacts major brands.

Key Takeaways
The Global Digital Pregnancy Test Kits Market Size is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period, due to increasing prevalence of unplanned pregnancies and growing pregnancy self-testing trend. North America currently dominates the market owing to high awareness levels, easy availability, and favorable reimbursement policies for diagnostic kits in the region.

Regional analysis: North America accounts for over 35% of the global market share due to growing awareness about reproductive health and self-monitoring. Asia Pacific registers the fastest growth due to rising disposable income, expanding e-commerce, and large population base in high growth economies of China and India.

Key players operating in the Digital Pregnancy Test Kits are Church & Dwight Co., Inc., Swiss Precision Diagnostics GmbH, Procter & Gamble Co., and Abbott Laboratories. Church & Dwight leads with their Clearblue brand offering a wide range of digital pregnancy and ovulation monitoring products. Procter & Gamble also holds a significant market share selling pregnancy confirmation kits under their Prgagest brand.

For More Insights, Read: https://www.trendingwebwire.com/digital-pregnancy-test-kits-market-trends-growth-and-regional-outlook-2023-2030/