Pregnancy Point of Care Testing Market Expected to Experience Bolstering Sales during Forecast Perio
The study opines that the market will grow at a healthy 4.5% CAGR during the assessment period
[UKPRwire, Thu Jul 04 2019] Fact.MR has actively investigated the global market for pregnancy point of care testing which is estimated to foresee incremental growth in the coming years. The report titled “Pregnancy Point of Care Testing Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 -2028”, reveals that technological advancements and awareness related to accuracy and proficiency of pregnancy point of care testing products would emerge as the primary growth factor supporting market growth. This assessment is indeed a dynamic compilation of high-end researched data which systematically feeds the reader with informative data.
According to this report study, manufacturers are taking advantage of increasing ubiquity of smartphones with the launch of next-generation pregnancy point of care testing devices that can be coupled to smartphone applications. At present, smartphone-based pregnancy point of care testing products are known to transpire as promising alternatives to traditional diagnostic testing practices. This exhaustive assessment confers crucial market aspects like market value projections, Y-o-Y growth analysis, drivers, restraints, opportunities, market value (US$ Mn)forecast and market attractiveness analysis.
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hCG Urine Test Kits Sales Continue to Bolster
Based on research analysis, human chorionic gonadotrophin (hCG) urine test kits acquired close to 43% revenue share in the global pregnancy point of care testing market in 2018. It is predicted that this trend would continue in the upcoming years, thereby, motivating market growth. In 2018, pregnancy test kits managed close to half the revenue share in the pregnancy point of care testing market, and greater reliability and accuracy of hCG urine tests associated to pregnancy point of care testing is strengthening its share in the global market.
North America Market for Pregnancy Point of Care Testing Accounts 50% Revenue Share
In 2018, the North American market for pregnancy point of care testing valued at US$ 648 million. It has been examined that growing prevalence of gynecological as well as fertility disorders have prompted increased adoption of pregnancy point of care testing products in this region. Furthermore, Fact.MR reports that leading manufacturers in North America are embracing advanced technologies to receive competitive gains with the introduction of more reliable and speedy diagnostics. Despite the uncertainty about the precision of commonly available pregnancy point of care testing devices, adoption of these products stay high.
Preview Analysis of Global Pregnancy Point of Care Testing Market Segmentation By Product Type (Pregnancy Test Kits (Strips/ Dipsticks and Cards, Midstream Kits, Cassettes, Digital Devices), By Fertility Test Kits (Line-Indicator Kits, Digital Devices)), By Test Type (LH Urine, FSH Urine, hCG Blood, hCG Urine), By Sample Type, By Distribution Channel, & by Region: -
Strict Product Approval Places Significant Hurdle for Market Development
Tough regulations and standards merged with lengthy certification processes issued by governing bodies are expected to influence noticeable business strategies. It has been observed that strict product approval guidelines are dropping a huge impact on the manufacturing cost of pregnancy point of care testing products. Therefore, this factor is proving to be a challenge for manufacturers in announcing products at competitive prices across the global market.
The later section of the report is solely dedicated to discourse important specifics related to competition dashboard. Readers can easily gain access to information highlighting some of the leading manufacturers from the pregnancy point of care testing market. Abbott Laboratories, Prestige Brands Holdings, Quidel Corporation, Church & Dwight Co., Inc., Swiss Precision Diagnostics (SPD) GmbH, EKF Diagnostics Holdings plc, BIOSYNEX SA, NG BIOTECH SAS and NOW Diagnostics Inc., are few striking companies that have been mentioned in this study.
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