Fertility Test Market to Generate $842.96 Million, Globally, by 2028 at 7.8% CAGR: Allied Market Research
Rise in awareness of fertility testing, launch of technologically advanced products with high accuracy, and declining fertility rates across the globe fuel the global fertility test market.
PORTLAND, Ore., July 1, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Fertility Test Market by Product (Ovulation Prediction Kits, Fertility Monitors, and Male Fertility Testing Products), Mode of Purchase (OTC-based and Prescription-based), Application (Female Fertility Testing and Male Fertility Testing), and End User (Home Care Settings and Hospitals/Fertility Clinics): Global Opportunity Analysis and Industry Forecast, 2021–2028". According to the report, the global fertility test market was pegged at $462.23 million in 2020, and is estimated to hit $842.96 million by 2028, manifesting at a CAGR of 7.8% from 2021 to 2028.
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Drives, restrains, and opportunities-
Rise in awareness of fertility testing, launch of technologically advanced products with high accuracy, and declining fertility rates across the globe fuel the global fertility test market. On the other hand, high cost of fertility testing monitors and unproven accuracy of ovulation monitors in PCOS/PCOD patients hamper the market growth. Moreover, sale of fertility testing devices via online platforms would present a plethora of opportunities for the market players in the future.
Covid-19 scenario:
- The outbreak of covid-19 pandemic led to lockdown across several countries. Thus, the government forced fertility clinics to shut down to curb the spread of Covid-19. This affected the demand for fertility test products.
- However, the boom in the e-commerce sector enabled the customers to order fertility home test kits.
The ovulation prediction kits to lead the trail throughout the forecast period-
Based on product, the ovulation prediction kits segment accounted for the largest share in 2020, contributing to more than half of the market. This is owing to rise in demand for ovulation prediction kits, surge in patient awareness towards infertility and PCOS/PCOD, advancements in the fertility testing products. However, the fertility monitors segment is projected to manifest the highest CAGR of 8.5% during the forecast period. The launch of technologically advanced products with high accuracy are expected to boost the growth of the segment.
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The female fertility testing segment to rule the roost throughout the forecast period-
Based on application, the female fertility testing segment dominated the market in 2020, with around four-fifths of the market. In addition, the segment is expected to portray the highest CAGR of 8.0% from 2021 to 2028. This is attributed to rise in prevalence of diseases of women like PCOS/PCOD in both developed as well as developing countries, surge in demand for fertility testing products, increase in the availability of technologically advanced fertility testing products.
Asia-Pacific to dominate the market, North America to grow at a significant pace throughout the forecast period-
The global fertility test market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated with the largest share in 2020, contributing to nearly two-fifths of the market. Furthermore, the region is anticipated to register the highest CAGR of 8.4% during the forecast period. This is due to rise in the prevalence of diseases like PCOS, increases in the first time pregnancies in women and declining fertility rates. On the other hand, the market across North America is expected to manifest the CAGR of 6.90% throughout the forecast period.
Key market players-
- Fairhaven Health LLC
- Church & Dwight Co. Inc.
- Geratherm Medical AG
- Fertility Focus Limited
- Prestige Brands Holdings Inc.
- HiLin Life Products Inc.
- Abbott Laboratories
- Quidel Corporation
- Advacare Pharma
- UEBE Medical
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