Fertility Testing Devices Market-Rise In Fertility Rates A Major Reason For Growth
Global Fertility Testing Devices Market – Snapshot
The global fertility testing devices market is expanding at a significant rate owing to increase in awareness toward fertility testing, worldwide. The global fertility testing devices market was valued at US$ 420 Mn in 2017 and is estimated to reach more than US$ 600 Mn by 2026, expanding at a CAGR of more than 5% from 2018 to 2026. The global fertility testing devices market is witnessing expansion at a relatively significant growth rate owing to increase in technological advancements, high prevalence of obesity, and rise in infertility across the globe.
The natural capacity of an individual to produce offspring can be defined as fertility. Lack of fertility is known as infertility. Fertility depends on several factors such as gender, nutrition, hormonal balance, and sexual behavior. Fertility testing is carried out to determine the causes of infertility for a couple who wish to become parents. There are several types of fertility testing devices available for both genders such as ovulation prediction kits, male fertility testing kits, fertility monitors, basal body temperature monitors, and cervical mucus monitors.
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The global fertility testing devices market is projected to expand at a steady pace during the forecast period. Increase in infertility rate across the globe is a key factor that is anticipated to propel the market during the forecast period. Few other factors such as rise in lifestyle-related diseases, high prevalence of PCOS, and delayed child bearing due to financial instability are expected to boost the global market from 2018 to 2026. Furthermore, rise in awareness toward fertility testing in developed countries and trending OTC fertility testing kits are other important factors that are expected to fuel the global fertility testing devices market during the forecast period. However, the high cost of fertility monitors and reluctance to undergo fertility testing in several developing countries are some factors that are likely to restrain the global fertility testing devices market during the forecast period.
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The global fertility testing devices market can be segmented based on product type, gender, distribution channel, and region. In terms of product type, the market can be classified into ovulation prediction kits, male fertility testing kits, fertility monitors, and other. The fertility monitors segment can be further sub-segmented into saliva-based monitors and urine-based monitors. The ovulation prediction kits segment is expected to hold a significant share of the global market since these kits are easier to use, provide faster results, and are readily available.
Based on gender, the global fertility testing devices market can be categorized into female fertility testing devices and fertility testing devices. The fertility testing devices segment held a prominent share of the market, in terms of revenue, in 2017. Increase in fertility-related issues in females and reluctance of males to undergo fertility testing in several developing countries are some factors that are anticipated to boost the segment during the forecast period.
In terms of distribution channel, the global market can be segregated into drug stores and pharmacy, gynecology and fertility clinics, E-commerce, and others. The drug stores and pharmacy segment accounted for a major share of the market in 2017, in terms of revenue. Rise in trend of OTC ovulation and male fertility testing kits is a key factor that is estimated to drive the market during the forecast period
North America held a significant share of the global fertility testing devices market, in terms of revenue, in 2017, followed by Europe. Rise in obesity, high awareness of people toward fertility testing, and prevalence of infertility in the region are key factors boosting the market in North America. Developed countries such the U.K. and Germany exhibit higher awareness about fertility testing and their applications. This is expected to boost the market in the regions. The market in Asia Pacific is expanding at a rapid pace. The countries such as China, India, and Japan offer significant growth opportunities for the market due to increase in population, rising prevalence of lifestyle related diseases, and rise in infertility in the region.
Key players in the global market are adopting strategies such as mergers and acquisitions, technological developments, and geographic expansion in order to capture significant position in the global market. Major players operating in the global fertility testing devices market include Church & Dwight Co., Inc., bioZhena Corporation, Geratherm Medical AG, SPD Swiss Precision Diagnostics GmbH, Emay (HK) Limited, Alfa Scientific Designs, Inc., Piramal Enterprises Ltd, Ava Science Inc., and Hilin Life Products.
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