Home > Pressrelease > Fertility Testing Device Market size worth over $920mn by 2027
Fertility Testing Device Market size worth over $920mn by 2027
- Published Date: October 4, 2021
Fertility Testing Device Market size is set to exceed USD 920 million by 2027, according to a new research report by Global Market Insights Inc.
The market growth attributed to the factors such as delay in average age of first-time pregnancy and rising intake of caffeine as well as alcohol that further leads to infertility. Similarly, investments and innovation in fertility kits by numerous manufacturers is expected to propel the market progression during the forecast timeframe.
Increasing prevalence of polycystic ovary syndrome (PCOS) will stimulate the fertility testing device market expansion
PCOS is one of the most common endocrine disorders that impacts women at their reproductive age across the developed and developing economies. From past few years, the prevalence of polycystic ovarian syndrome is higher in women due to imbalance of the sex hormones and other symptoms including hirsutism, polycystic ovaries and irregular menstrual cycle.
Different health conditions such as obesity and stress can also lead to PCOS that accelerates the industry growth. Moreover, according to the report published by U.S. Department of Health & Human Services, 1 in 10 women at childbearing age suffer with PCOS. The prominent characteristics of this condition are hyperandrogenism, polycystic ovaries, and ovulatory dysfunction. Such conditions are known to hinder the fertility.
Availability of advanced quality fertility monitors will fuel the overall market demand
The fertility monitors segment in the fertility testing device market is predicted to witness 6.7% growth rate 2027, as it has emerged as one of the convenient ways to track fertile days. The fertility monitors are portable, generally small, as well as battery-operated gadgets that helps in analyzing the results of a fertility test. Also, most fertility monitors are ninety-seven percent accurate, and some are high as ninety-nine percent that augments the overall industry expansion. Furthermore, numerous companies operating in this industry are focusing on developing better quality fertility monitors to accurately identify fertile period.
Increasing awareness about OTC fertility kits will influence the market revenue
The over-the-counter (OTC) segment accounted for more than USD 460 million in 2020. OTC mode has come out as an affordable and easy way for couples to get information regarding their fertility issues. Increasing awareness and availability of authentic information on various online portals such as National Health Services (NHS) is driving people for using OTC products. Moreover, OTC products help people reduce their dependency on clinical support and diagnostic facilities for every single need that foster the industry progression.
Rising prevalence of infertility in males will propel the fertility testing device market value
The male segment is estimated to attain a CAGR of 6.5% till 2027, as nearly 1 in 7 couples is infertile. Male infertility can be caused due to several issues including blockages or abnormal sperm function, low sperm production, injuries, illness, lifestyle changes, chronic health problems along with other factors that spur the market expansion. In addition, in males oligozoospermia, also referred as a lower sperm count is a condition wherein males have less than 15 million per millimeter of semen. This condition has become quite common in men due to stress and unhealthy lifestyle making it difficult to conceive naturally that further leads to the industry size.
Browse key industry insights spread across 140 pages with 115 market data tables & 15 figures & charts from the report “Fertility Testing Device Market Size By Product Type (Ovulation Prediction Kits, Fertility Monitors, Male Fertility Test Kits), By Purchase Mode (OTC, Prescription), By Gender (Male, Female), By End User (Home Care Setting, Fertility Clinics & Hospitals), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Availability of specialized devices in fertility clinics & hospitals will drive the market demand
The fertility clinics & hospitals captured 35% of revenue share in 2020. Availability of specialized treatments such as IVF and intracytoplasmic sperm injections requiring specialized equipment for the procedures further facilitates the industry value. Similarly, presence of skilled healthcare professionals at hospitals and fertility clinics further prove advantageous for the overall industry revenue.
Declining fertility rate in European nations will boost the market growth
Europe fertility testing device market is poised to expand at more than 6.1% by 2027 owing to declining fertility rate in the region. Better healthcare facilities in hospitals and fertility clinics for delivering excellent healthcare services will help the market gain significant momentum. Additionally, rising infertility issues will attract large number of market participants to introduce innovative kits or products for efficient patient care.
Foremost leaders are focusing on collaborations, mergers and launches to gain higher market share
Some of the prominent companies operating in the fertility testing device market includes Fertility Focus Limited, Geratherm Medical AG, UEBE Medical GmbH, Ava AG, Fairhaven Health, Lady Technologies, SPD Swiss Precision Diagnostics GmbH, Samplytics Technologies Private Limited., The Boots Company PLC (Walgreens Boots Alliance), SNOWDEN, Advacare Pharma USA and HiLin Life Products Inc. These players are involved in various growth strategies to strengthen the market position.
Explore More on Related Topics: