LOS ANGELES, June 23, 2021 (GLOBE NEWSWIRE) — The Global Fertility Test Market is expected to grow at a CAGR of around 7.3% from 2020 to 2027 and reach the market value of over US$ 720.5 Mn by 2027.
North America holds the dominating share for the global fertility test market owing to the increasing awareness of pregnancy testing methods and improving fertility rates. For instance, according to the National Center for Health Statistics, in 2016, the fertility rate in the US was 1000 women aged 15 to 44 years. Furthermore, the rising prevalence of adolescent pregnancy, as well as the presence of major market players, creates an advantageous environment for market growth in the Americas.
Throughout the forecast period, Asia-Pacific (APAC) is expected to have the fastest growth in infertility testing. The Asia-Pacific pregnancy and ovulation testing market is expanding due to rising demand for self-contained and quick tests, as well as the increasing age of first pregnancy. Furthermore, rising birth rates and a significant increase in the youth population drive market growth in this region. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the region is home to more than 60% of the world’s youth, or more than 700 million people aged 15 to 24.
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Europe is the second-largest market for fertility tests after the United States. The increasing expenditure on healthcare, technological advancements, and rising infertility and gynecological disorders are all contributing to market growth. According to the European Commission, Europe’s live birth rate per woman is 1.6, which is extremely low. Germany held the largest share of the European Fertility Testing market.
The Middle East and Africa, on the other hand, are expected to have the smallest share of the fertility testing market due to low economic development, particularly in Africa.
The increasing age of first-time pregnancy, declining fertility rates globally, and the introduction of advanced, easy-to-use fertility monitors with high accuracy are likely to provide favorable conditions for market growth during the forecast period. Other factors, such as changing lifestyles and increased awareness about fertility testing, are also expected to drive market growth. However, the lower precision of ovulation prediction kits and the unproven accuracy of urine-based ovulation monitors in PCOS/PCOD patients may limit market growth during the forecast period.
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The introduction of advanced, easy-to-use fertility monitors with high accuracy, rising awareness about fertility testing, and declining fertility rates globally are expected to drive the fertility test market forward during the forecast period. On the other hand, the emergence of combined kits for dual pregnancy and ovulation testing will further boost various opportunities, resulting in the growth of the fertility test market during the forecast period.
The global fertility testing market is segmented based on mode of purchase, product, application, and end-user. Based on mode of purchase, the market is segregated as direct/prescription-based products, OTC-based products, and online products. By product, the market is segmented as ovulation prediction kits, fertility monitors, and male fertility testing products. By application, the market is classified into female fertility products and male fertility products. Further, end-user is segmented as home care settings, hospitals and fertility clinics, and other end users.
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The major players involved in the fertility test market involve Swiss Precision Diagnostics GmbH, Church & Dwight Co., Inc., Prestige Consumer Healthcare Inc., bioZhena Corporation., Fairhaven Health, Geratherm Medical, Mira, and among others
Some of the key observations regarding the fertility test market include:
- In April 2016, Church & Dwight Co., Inc., announced new product launching namely, “First Response™ Pregnancy PRO Digital Pregnancy Test + App Access”. The newly launched product is the first and only Bluetooth®** enabled pregnancy test stick, is now available nationwide.
- In April 2020, Mira announced a new product launching namely, “estrogen and Luteinizing hormone test”. The newly launched product is efficient and new at-home tracking solution detects full fertile window with >99% Accuracy. Additionally, the hormone estrogen is a key component in understanding reproductive health and an integral part of the fertility process. Tracking both Luteinizing hormone and estrogen allows the detection of a full fertile window and ovulation.
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