The fertility and pregnancy rapid test kits market is set to grow, driven by convenience and cost-effectiveness, reaching $1.3Bn in 2020.
Future Market Insights estimates that fertility and pregnancy rapid test kit market will experience a spike in sales in 2020, reaching US$ ~ 1.3 Bn by the year end. The recently released report by award winning research firm, examine the data pertaining to increased cases of gynecological disorders such as uterine polyps, fibroids, polycystic ovarian disease, and unexplained infertility worldwide over past decade.
A three layered data of rapid pregnancy fertility test kits penetration across different channel and average monthly sales has been collected and global market statistics has been calibrated. Consumer spending on self-diagnosis has increase by two fold in last three year, which is subjected to high associated and recurring cost for opting services from professional pathology labs. Raid test kits is convenient and comes with low complexity which captivate potential customers.
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The report provides detail on other associated factors that has propelled the demand for these kits. One of such factor include the widespread availability of fertility and pregnancy rapid test kits on online sales channel as well its categorization as OTC product.
Dual Capability Tests To boost The Sales of Fertility And Pregnancy Rapid Test Kits
Manufacturers are providing pregnancy test kits with dual capability and are also offering combined packs of fertility and pregnancy rapid tests, which can be used to qualitatively detect the presence of HCG hormone in both – urine and serum/blood. Users are rapidly adopting these combo kits as this eliminates the necessity to buy separate kits for urine and blood/serum testing. For instance, various products such as QuickVue HCG Combo, Test & Confirm, ICON 25 HCG, and many others are available commercially; which prove to be cost-effective. Covid-19 is adding to the sales of home-made combo kits; as social distancing forbids them from visiting the labs for tests.
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Key Takeaways of Fertility and Pregnancy Rapid Test Market Study
“Considering the rising adoption of fertility and pregnancy rapid testing kits, online sales platforms and OTC arms of the companies offer sizable opportunities for potential global market growth.” says the FMI analyst
Collaborations with e-Commerce Partners – A Key Strategy
The market for fertility and pregnancy test kits is rapidly growing and key players are looking for strategic options to expand globally. While most players have a fairly good distribution network locally as well as globally, the strong competition presses these players to look for options to reach out to more number of customers to sustain in the market.
Most companies focus on sales of fertility and pregnancy test kits through online sales channels. With products available online, buyers can choose from a wide variety of products to best suit their requirements. For instance many e-commerce portals such as Walmart, Amazon Inc., etc. offer variety of brands with discounted prices which attract the buyer. Church & Dwight Co. Ltd., a major company in pregnancy and fertility test market generated 24% share of total revenue from sale of products through online distribution partner WalMart. PharmEasy is amongst the online pharmacy stores who delivers medicines to 98% PIN codes in India.
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Want more insights?
Fertility and pregnancy rapid test market, a new study from Future Market Insights, opines on the fertility and pregnancy rapid test from 2015 – 2019 and presents demand projections from 2020 – 2030 on the basis of product (pregnancy rapid test (line-indicator devices (strips/dip sticks, mid-stream and cassettes) and digital devices and fertility rapid test (line-indicators and digital devices)), test type (LH urine, FSH urine, hCG blood, hCG urine), and distribution channel (pharmacies, drug stores, gynecology/fertility clinics, e-commerse and hypermarkets/supermarkets) across seven prominent regions.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
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Report: https://www.futuremarketinsights.com/reports/fertility-and-pregnancy-rapid-tests-market
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The article discusses the growth of the fertility and pregnancy rapid test kits market, driven by convenience and cost factors.
How are online sales channels impacting the market? They are significantly boosting market growth by providing easy access to products.
What role do dual capability tests play? They enhance consumer adoption by offering combined urine and blood/serum testing.
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