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Pregnancy Test Kits Market Size Expansion: A Snapshot of Growth Between 2024 and 2029
In recent times, there has been a consistent growth in the market size of pregnancy test kits. The market size, which is expected to progress from $1.8 billion in 2024 to $1.87 billion in 2025, is forecasted to experience a compound annual growth rate (CAGR) of 3.9%. The notable growth experienced during the historic period is linked to factors such as the utilization of antidepressant medications, heightened awareness of mental health, increased stress levels, improved accessibility to mental health services, and advancements in diagnostic criteria.
There is an expectation of a robust upward trend in the pregnancy test kits market, which is anticipated to escalate to $2.41 billion by 2029 with a compound annual growth rate (CAGR) of 6.5%. The propelling factors for this expansion in the forecasted phase are advancements in pharmacological treatments, telepsychiatry services, focus on comorbidities, worldwide mental health initiatives, the role of pharmacogenomics in treatment, and public education programs. Dominant trends projecting in this period incorporate digital mental health interventions, panic disorder treatments through telemedicine, novel medical innovations, research on neurobiology, remote patient monitoring, and wearable technology.
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What Growth Drivers Are Responsible for Accelerating Pregnancy Test Kits Market Growth?
The anticipated rise in psychiatric patient numbers is set to spur the expansion of the panic disorder market. Individuals suffering from psychiatric or mental health disorders, which can interfere with thought processes, emotional stability, and social interactions, are usually prone to panic disorders or severe panic attacks. To mitigate the symptoms of panic attacks and enhance their overall quality of life, these psychiatric patients typically undergo a mixture of therapeutic approaches, medical treatments, and lifestyle modifications to efficiently manage and deal with their conditions. As an illustration, the State of Mental Health in America 2022 report released by Mental Health America, a US-based mental health charity, stated that in October 2022, the count of psychiatric patients or adults living with any mental health disorders rose to 49,564,000, accounting for 19.86% of the total US populace in 2022, a notable increase from 47,132,000 or 19.00% of the total US population in 2021.
Consequently, this surge in psychiatric patients will instigate the growth of the panic disorder market.
Performance of Leading Segments in the Pregnancy Test Kits Global Market
The pregnancy test kitsmarket covered in this report is segmented –
1) By Type: Blood Test For Human Chorionic Gonadotropin (HCG); Urine Test For Human Chorionic Gonadotropin (HCG)
2) By Distribution Channel: Retail; Online
3) By Application: Hospitals; Clinics; Households; Pharmacies
4) By End-Users: Professionals; Home-Based
Subsegments:
1) By Blood Test For Human Chorionic Gonadotropin (HCG): Qualitative Blood Test; Quantitative Blood Test
2) By Urine Test For Human Chorionic Gonadotropin (HCG): Midstream Tests; Cassette Tests; Digital Tests
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What are the upcoming Trends Poised to Transform the Future of the Pregnancy Test Kits Market?
Prominent firms in the panic disorder market are prioritizing the creation of highly advanced medications such as extended-release capsules, in order to maintain their business standing. These capsules gradually release the active ingredient over a certain length of time, usually over 12 or 24 hours. This makes them ideal for treating conditions that require long-term medication. A perfect illustration of this occurred in May 2023 when Granules India Ltd., a pharmaceutical company based in India, got approval for their abbreviated new drug application (ANDA) for Venlafaxine Hydrochloride extended-release capsules from the US Food & Drug Administration (USFDA). These capsules are on par with the reference-listed drug product (RLD), Effexor XR Extended-Release Capsules, produced by Upjohn US 2 LLC. The prolonged-release capsules of Venlafaxine HCl are utilized for managing various conditions such as generalized anxiety disorder (GAD), major depressive disorder (MDD), panic disorder (PD), and social anxiety disorder (SAD). These capsules function by elevating the serotonin and norepinephrine levels in the brain, with the typical starting dosage being 75 mg per day, adjustable as per the doctor’s recommendation.
What Are the Regional Hotspots for Pregnancy Test Kits Market Growth?
North America was the largest region in the panic disorders market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the panic disorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which Companies Hold the Largest Market Share in the Pregnancy Test Kits Industry?
Major companies operating in the panic disorders market report are F. Hoffmann-La Roche Ltd., Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH., Baxter Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Bausch Health Companies Inc., H. Lundbeck A/S, Shionogi & Co Ltd., Recordati S.p.A, Neurocrine Biosciences Inc., Neuraxpharm, Actavis Plc., Noven Pharmaceuticals Inc., Sumitomo Pharma Co. Ltd., VistaGen Therapeutics, Valeant Pharmaceuticals International Inc., LIFECARE NEURO PRODUCTS LTD.
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