Selbyville, Delaware, Oct. 06, 2021 (GLOBE NEWSWIRE) —
According to latest report “Fertility Testing Device Market by Product Type (Ovulation Prediction Kits, Fertility Monitors, Male Fertility Test Kits), Purchase Mode (OTC, Prescription), Gender (Male, Female), End User (Home Care Setting, Fertility Clinics & Hospitals), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of fertility testing devices will cross $920 million by 2027. Increasing awareness about the causes of infertility and availability of cost effective and easy to use fertility testing kits will accelerate the market growth.
The market expansion is attributed to the declining fertility rates throughout the globe owing to unhealthy lifestyle, excessive consumption of alcohol and caffeine by adults. For instance, according to CDC 2018 data, around 66.3% of adults aged 18 and over consume alcohol in the U.S. Among them, 5.1% adults are engaged in heavy drinking. Therefore, excessive consumption of alcohol in men leads to low gonadotropin release that decreases testosterone and sperm production leading to fertility disorders.
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The ovulation prediction kits in the fertility testing device market accounted for USD 350 million in 2020. Ovulation prediction kits have gained popularity as these kits are specifically designed to detect levels of luteinizing hormone. The demand for these ovulation kits have surged as these kits are convenient to use and are easily available at pharmacies/drugstore and ecommerce websites without the requirement of doctor’s prescription. Moreover, the ovulation kits are approximately ninety-nine percent correct in detecting luteinizing hormone surge that precedes ovulation thus, proves beneficial for the segment progression.
The fertility testing device market for prescription segment will witness 6% growth rate through 2027. Maximum number of people worldwide do not know the actual reason for infertility. In such cases prescription from fertility specialists or any healthcare professional becomes crucial. People suffering from severe case of vaginitis, or a history of any chronic syndrome must reach out for the doctor’s prescription before using any type of fertility device.
The female segment in the fertility testing device market was valued at around USD 520 million in 2020 led by the rising infertility issue in females. According to a Centers for Disease Control and Prevention (CDC), nearly 6% of married women between the age group of 15 to 44 years in the U.S. face difficulty in getting pregnant. In addition, 12% of women between the ages of 15 to 44 years are unable to carry a pregnancy to term. Furthermore, disruption of ovarian function, fallopian tube obstruction and abnormal uterine contour are some of causes that leads to infertility in women thereby, favoring the industry growth.
The home care settings segment dominated more than 50% of the market share in 2020 impelled by the wide availability of testing devices that can be used at home without any help of healthcare professional. Many fertility testing devices manufacturing companies are coming up with home-based ovulation kits, fertility monitors and sperm count testing kits for user’s privacy.
Asia Pacific fertility testing device market size was over USD 145 million in 2020 on account of the rising cases of infertility in this region. For instance, according to a report by South China Morning Post (SCMP), in China the infertility rate raised from 12% in 2007 to 18% in 2020, indicating that 1 out of 5.6 couples in China is facing difficulty in having children. In South Asian nations, government bodies are popularizing family planning to reduce poverty. Therefore, many couples in the region are inclined towards planning their pregnancies that will extensively favor the market progression. Also, new product launches and easy availability of ovulation kits and fertility monitors in APAC will foster the regional growth.
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Some of the eminent players operating in the fertility testing device market include 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 market leaders are focusing on product launches and strategic partnerships to gain a higher revenue share.
Table of Contents (ToC) of the report:
Chapter 3 Fertility Testing Device Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By product type
3.4.2 By purchase mode
3.4.3 By gender
3.4.4 By end user
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.