by Market Overview:
Fertility tests are medical devices used to check fertility levels and ability to conceive in males and females. The most common fertility tests for females include ovulation prediction kits, fertility monitors, and pregnancy test kits. For males, fertility tests include semen analysis tests. These tests help detect infertility issues and help doctor’s develop treatment plans accordingly.
Market Dynamics:
Rising number of infertility cases globally is expected to drive the growth of fertility test market over the forecast period. According to the World Health Organization (WHO), around 48 million couples worldwide experience infertility every year. Additionally, changing lifestyle habits such as rising stress levels, obesity, smoking, alcohol consumption etc. are also contributing to rising infertility rates. This is expected to increase demand for fertility tests for diagnosis. Secondly, increasing awareness regarding fertility testing and availability of advanced ovulation and hormone level monitoring kits for home use is also expected to support market growth between 2023 and 2030. However, high cost associated with fertility tests and treatments and social stigma around infertility in some regions may restrain the market to some extent.
SWOT Analysis
Strength:
– Fertility tests provide quick and easy results enabling early detection of fertility issues which allows timely clinical interventions.
– Advanced technologies such as ovulation predictive kits provide high accuracy in results and help women plan their pregnancies better.
– Increasing awareness about fertility testing aids early diagnosis and management of infertility problems.
Weakness:
– Cost of advanced fertility tests is high which limits its adoption in low and middle income countries.
– Accuracy of ovulation prediction kits depends on several external factors such as body weight, medical conditions, etc.
Opportunity:
– Rapid urbanization and busy lifestyles have increased risk of infertility raising the need for self-monitoring fertility.
– Growth in healthcare expenditure in emerging nations is expanding the customer base.
Threats:
– Social stigma associated with infertility issues in developing regions hampers discussion on fertility awareness and testing.
– Stringent regulatory framework for launch of new products increases cost and time for companies.
The global fertility test market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing stress levels among working professionals and changing lifestyle affecting reproductive health. North America dominated the fertility test market in 2022 attributed to rising cases of polycystic ovary syndrome and growing acceptance of self-monitoring fertility care with ovulation prediction kits and pregnancy test kits in the region.
Regional analysis:
Asia Pacific is expected to witness fastest growth in the fertility test market registering a CAGR of over 9% during 2023 – 2030. Countries such as China and India account for over 40% of global population and growing medical tourism coupled with increasing healthcare expenditure is propelling market growth in the region.
Key players:
Key players operating in the fertility test market are Advacare Pharma, UEBE Medical, Abbott Laboratories, Quidel Corporation, HiLin Life Products Inc., Geratherm Medical AG, Fertility Focus Limited, Fairhaven Health LLC, Church & Dwight Co. Inc., and Prestige Brands Holdings Inc., among others. Players are employing strategies such as new product launches, partnerships, and regional expansions to strengthen their market presence.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
