Digital Pregnancy Test Kits Market: Innovative and Technological Advancement
Soaring demand for advanced pregnancy test kits over analog or conventional pregnancy kits is likely to boost the Digital Pregnancy Test Kits Market growth during the forecast period.
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According to a new Future Market Insights (FMI) report, the U.S. digital pregnancy test kits market is estimated to hit a valuation of US$ 132.3 Mn in 2021, and is expected to grow at a market CAGR of 6.0% during the forecast period (2021-2031).
An increase in the number of working-class women is expected to increase the demand for self-contained pregnancy test kits owing to reluctance to opt for laboratory testing. However, the demand for advanced features in pregnancy kits such as Bluetooth connectivity or smart countdown kits has been gaining traction in the digital pregnancy test kits market owing to higher accuracy and reliability.
Clearblue, First Response, PregaNews, Surearly and E.P.T. are some of the most popular digital pregnancy test kits brands available in the U.S. market.
Rising first-time pregnancy age, rising disposable incomes, and easy availability are some major factors driving the growth of the digital pregnancy test kit market in the U.S.
The COVID-19 pandemic has significantly affected digital pregnancy test kit sales. The first few months of 2020 has resulted in a slump in the digital pregnancy test kits market owing to limited workforce, countrywide lockdown, and disrupted supply chains.
On the other hand, the pandemic increased the demand for home-pregnancy detection tests to minimize testing at clinics and hospitals, which benefited future growth prospects.
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Key Takeaways from U.S. Digital Pregnancy Test Kits Market Study
- Branded test kits are expected to account for over 85% of the market. The segment is expected to register a CAGR of 9.3% owing to the ease of availability through e-commerce and other online platforms.
- Retail sales are expected to witness significant growth among other distributional channels, owing to easier access to patients. Retails sales are also forecast to exhibit a CAGR of around 5.8%.
- Increasingly affordable costs of digital technologies will drive product development and higher adoption rates among consumers.
- Test kits for home settings will exhibit strong growth over the forecast period owing to improvements incorporated in these test kits and their simplicity of use.
Who is Winning?
Competing to gain a larger market share, key players continue to rely upon acquisitions, collaborations, and a focus on product launches to provide access to new technologies in both new and existing markets. Key manufacturers are entering into strategic agreement with leading players to expand their product portfolio across the U.S.
For instance, in 2017, Sugentech Inc., a major digital pregnancy test kits manufacturer entered into a strategic partnership with CGETC, Inc., a marketing company to launch their product line in the U.S. The business alliance aims to support the distribution of product portfolio across the country with emerging players extending their partnership to strengthen their product portfolio.
In February 2019, NFI Consumer Healthcare expanded the agreement with Callitas Health to distribute the co-branded product NFI’s e.p.t, the Over-The-Counter (OTC) pregnancy test kit in the U.S.
Leading manufacturers are focusing on collaborating with retailers such as WalMart and Walgreens. This has allowed consumers to choose from a wide number of options. Manufacturers are also focusing on designing new products that can provide better results at an affordable price, with reliable outputs.
Key market players covered by FMI include Swiss Precision Diagnostics GmbH, Church & Dwight Co., Inc., Gregory Pharmaceutical Holdings, Inc., Mankind Pharma (Lifestar LLC), Sugentech, Inc., NTBIO Diagnostics Inc., and Bio-AMD.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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