Pregnancy POC Testing Products to Witness Decline in Sales as Demand Takes a Dip During Pandemic; Swift Market Rebound on Cards Post Recovery, Says XploreMR in a New Market Study
Pregnancy Point Of Care Testing Market Research Report
As forecasted by XploreMR in a recent market study, the global pregnancy point of care testing market is on a positive growth trajectory during the forecast period (2018 - 2028).
Rising incidence of gynecological issues and fertility disorders, coupled with gradually increasing for fast and self-contained tests is serving as the predominant growth driver to the pregnancy point of care testing products.
Furthermore, increasing awareness regarding the availability of technologically advanced pregnancy point of care testing products is boosting the sales of these products.
However, the outbreak of COVID-19 is reshaping the expected growth picture as sales are expected to witness a decline in the near future.
Subsequently, the market will recover post the crisis and the long-term growth outlook remains positive.
Smart Devices to Define Future of Testing Products
As the demand for easy-to-use and self-performable tests increases owing to fast-paced lifestyles among the working class, manufacturers are focusing on adopting next-generation technologies to bestow advanced features such as accuracy and ease of use, and improve the reliability and consumer experience with the pregnancy point of care testing products.
With the high penetration of smartphones into consumer demography, directing the players in the pregnancy point of care testing market to integrate smartphone connectivity in the products to cater to the modern customers and subsequently boost the adoption of smart pregnancy point of care testing products.
However, the possibility of the testing products giving inaccurate results is limiting consumers' reliance on these products, thereby posing a challenge to the overall market growth.
South Asia to Bestow Lucrative Growth Opportunities Backed by Rising Demand
North American region is anticipated to reign supremacy in the point of care pregnancy testing market through the forecast period.
The region's dominance is primarily attributed to the strong presence of major market players such as Quidel Corporation, NOW Diagnostics Inc., and Church & Dwight Co.
Inc., among others.
On the other hand, South Asia is anticipated to metamorphose into a lucrative regional market for players in the pregnancy point of care testing market.
High demand for home monitoring devices for ovulation tracking consumers in South Asian countries is driving the market growth in the region.
On the other hand, the high costs associated with innovative products is likely to limit the sales in this region.
Sales to Stay Stunted Through COVID 19 Pandemic
The unforeseen outbreak of COVID-19 is dually impacting the pregnancy point of care testing market.
Although the pandemic asserted to manufacturers in the point of care testing market to develop the COVID-19 testing kits, uncertainty prevails over the growth of the pregnancy point of the testing market owing to supply chain disruptions and travel restrictions.
With healthcare institutions and governments prioritizing COVID-19 related treatments, the sales of the pregnancy point of care testing products will decline and are likely to stay stunted through the pandemic.
On a positive, the market will regain the lost ground after the pandemic is over.
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