New York, United States, Mon, 31 Jul 2023 07:01:00 / Comserve Inc. / -- Research Nester released a report titled “Fertility Test Market: Global Demand Analysis & Opportunity Outlook 2035”
Research Nester released a report titled “Fertility Test Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global fertility test market in terms of market segmentation by product, mode of purchase, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global fertility test market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2023-2035. Market growth can be attributed to the increase in the average age of first-time pregnancies across the globe owing to the decrease in first births among teenage women and the rise of first births among women aged over 30 years. OECD Family Database stated that the mean age of first-time pregnancy has increased from 29 to 30 globally by 2019. The declining fertility rate in women and men, along with the rise in the prevalence of disorders, such as, PCOS and obesity, are estimated to promote the market growth. Growing fertility education and the easy availability of fertility monitors through e-commerce websites, pharmacies, and retail shops and drugstores also contribute to the market growth.
The global fertility test market is segmented by product into ovulation prediction kits and fertility monitors. The ovulation prediction kits segment is estimated to hold the highest share owing to advantages, such as, low cost, rising use of ovulation prediction kits, easy availability, and higher accuracy. On the basis end-users, the fertility test market has been segmented into home care settings, hospitals, and fertility clinics. Among these, the home care segment is projected to hold the highest share in the market. The growth of this segment can be attributed to the inclination of patients toward self-monitoring of healthcare conditions, easy accessibility of fertility and ovulation monitors on e-commerce websites, rise availability of easy-to-handle devices, and the growing preference for the confidentiality of test results.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the large population, especially the large young population which falls under the fertility age bracket. Moreover, increasing investment in healthcare infrastructure by government and non-government organization, along with rising awareness regarding sexual health and fertility are estimated to further boost the market growth. Moreover, less competition among players and friendly regulatory policies in developing markets have encouraged companies to focus on emerging countries.
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Declining Fertility Rate among Men and Women to Drive Market Growth
According to the CDC data from 2020, US births have been down since 2007, and total fertility rates have similarly declined. Total fertility rates and general fertility rates have both dropped by 4% during 2019, reaching record lows.
Rise in lifestyle disorders among men and women leads to rise in the occurrences of couples opting for IVF or surrogacy which are the major factors growing the fertility testing market. In Japan South Korea, and Singapore, due to low birth rate governments are offering subsidizes in the cost of infertility treatments. However, low precision of test results of fertility test kit and high cost of kit to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global fertility test market which includes company profiling of Swiss Precision Diagnostics, Legacy, Inc., Dadi Inc., Everlywell, Inc., Fertility Focus, ExSeed Health, Geratherm Medical, VirtualExpo, AdvaCare Pharma, and Valley Electronics AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fertility test market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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