VALLEY COTTAGE, New York, June 3, 2016 /PRNewswire/ --
Global demand for fertility and pregnancy rapid test kits market will reach US$ 1,068.4 Mn in 2016, up from US$ 1,029.1 Mn in 2015, witnessing 3.8% growth in 2016 over 2015. Increasing prevalence of gynaecological diseases and infertility will continue to drive demand in 2016, with dual-capability test kits gaining traction among consumers.
Pregnancy rapid test kits will continue to witness higher demand than fertility kits, representing US$ 600 Mn in market value in 2016. Line-indicator kits will continue to outsell digital devices, with the latter generating only one-third revenues of the former. Mid-stream and cassettes line indicator pregnancy rapid test kits will witness strong growth rates than strips/dip sticks, however, strips/dip sticks will continue to account for the highest market value, representing US$ 197 Mn in revenues in 2016.
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Line indicators will remain the preferred product type in fertility rapid test landscape as well, representing market value worth US$ 329.2 Mn in 2016, up from US$ 317.7 Mn in 2015.
hCG urine test will account for the highest market share on the basis of test type, representing nearly 43% revenue share in 2016. Apart from hCG, other test types - FSH urine test, hCG blood test, and LH urine test will witness a decline in their market share, suggesting increasing preference for conventional laboratory tests.
Drugstores and pharmacies will remain the largest distribution channels for both fertility and pregnancy rapid test kits. Drugstores will sell US$ 286.4 Mn worth of fertility and pregnancy rapid tests kits in 2016, representing nearly 27% revenue share of the market by distribution channel.
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North America will remain the largest market for fertility and rapid test kits in 2016, accounting for over half of global revenues. Demand for rapid kits will continue to grow in the developing countries of Asia Pacific, Middle East, and Africa. While APEJ fertility and rapid test kits market will reach US$ 267.2 Mn in revenues in 2016, MEA market will be worth US$ 7.5 Mn.
Church & Dwight Co., Inc., Alere Inc., bioMérieux SA, and Quidel Corporation are the market leaders in the global fertility and pregnancy rapid test kits landscape. Collaboration with distribution partners and strengthening market position through acquisitions remains the key strategy of these players.
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Long-term Outlook: Future Market Insights projects a moderate 4.1% CAGR for fertility and pregnancy rapid test kits market during the forecast period 2016-2026.
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SOURCE Future Market Insights