LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) -- An HCG Rapid Test checks human chorionic gonadotropin levels in the blood or urine. The test is mostly done during pregnancy and the measurement means whether a woman is pregnant, as well as whether their body is producing the right level of pregnancy hormones.
Market Dynamics
Increase in number of child birth across the globe and demand for advanced tests for better care in order to avoid miscarriages and other health complications are major factors expected to drive the growth of global HCG rapid test market. According to UN, there are on average about 250 babies born every minute, more than 130 million in a year and is projected that there will be 11 billion people on earth by 2100.
The preventive care approach towards pregnancy in order to avoid gynecological disorders and infertility along with inclination towards adoption of various tests is increasing demand for HCG rapid test. Changing patient diagnostic approach towards homecare testing, rapid advancements in testing kits and introduction of innovative solutions from major players are major factor expected to drive the growth of global HCG rapid test market.
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Drivers
Increasing rate of infertility cases drives development of the worldwide human Chorionic gonadotropin (HCG) market during the figure time frame. As per Centers of Disease Control and Prevention (CDC) in 2016, around 7.3 million ladies matured 15 – 44 years have utilized infertility administrations. In addition, 6.7% of the wedded ladies matured 15 – 44 years were accounted for fruitless. As indicated by Azura Vascular Care, around 17% of the couples in the U.S. manage barrenness, out of which 30% cases are an aftereffect of male infertility. Accordingly, these numbers proposes critical interest for barrenness medicines, like HCG with the end goal for females to imagine a kid.
As indicated by a measurable review directed by HealthGrove, pituitary organ issues came about into the demise of around 205 individuals in 2015, out of which most elevated rate had a place with white men. Pituitary issues coming about into critical death rate are pushing the interest for human chorionic gonadotropin chemical. Also, different factors like endometriosis, hormonal awkwardness, polycystic ovary disorder, and others are required to drive the development of worldwide HCG market. For example, as indicated by Frisco Institute of Reproductive Medicine, around 10% of ladies of conceptive age in the U.S. experience the ill effects of polycystic ovary disorder. Consequently, these components are required to drive development of the worldwide human chorionic gonadotropin (HCG) market over the estimate time frame.
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HCG Rapid Test Market Segment Analysis, 2019
The global HCG rapid test market is segmented into type and application. The type segment is bifurcated into test strip and digital devices. The digital devices segment is expected to witness faster growth in the HCG rapid test market due to easy availability of advanced infrastructure and high spending on advanced healthcare devices form consumers. The application segment is divided into hospital and clinic and home use. Among the application the hospital segment is expected to account for major revenue share in the target market due to high government spending on development of hospital infrastructure.
Segment Analysis by Region
North America is expected to account for major revenue share in the global HCG rapid test market due to an increase in awareness among consumers related to pregnancy tests. Factors such as high spending by the government on R&D activities, presence of large number of players operating in the region, and the introduction of innovative solutions are expected to positively impact the growth of target market. In addition, increasing merger and acquisition activities by major players in order to enhance the business presence and increase the customer base is expected to augment the regional market growth.
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The market in Asia Pacific is expected to witness faster growth in the target market due to changing government regulations related to patient diagnostic. In addition, increasing adoption of home based diagnostic testing increases the demand for pregnancy test kits in the region.
Competitive Landscape
The global HCG rapid test market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. The players profiled in the report are Church & Dwight, Swiss Precision Diagnostics, Abbott Laboratories, Quidel Corporation, BioMerieux SA, Geratherm Medical AG, China Resources Zizhu Pharmaceutical Co., Ltd., Runbio Biotech, Guangzhou Wondfo, Egens Biotech, and CIGA Healthcare.
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