Objectives of the Study:
# To define, describe, and forecast the Global Fertility Test Industry on the basis of product, mode of purchase, application, end user, and region.
# To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
# To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the total market
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
# To profile the key players and comprehensively analyze their market shares and core competencies
# To provide a five-year forecast for various market segments of the fertility test market in terms of revenue with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World
# To track and analyze competitive developments such as product launches; agreements, partnerships, and joint ventures; mergers & acquisitions; and research & development activities in the market
Factors Influencing Global Industry Growth:-
Growth in the fertility test market can be attributed to factors such as the increasing first-time pregnancy age in women, declining fertility rate among men and women, growing number of women suffering from disorders such as PCOS, emergence of advanced ovulation monitors, and increased awareness of fertility testing in both developed as well as developing countries.
On the other hand, the unproven accuracy of urine-based ovulation monitors in women suffering from PCOS and the lesser precision to confirm ovulation using ovulation prediction kits are the factors that are expected to restrain market growth to a certain extent during the forecast year.
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Opportunities:
# Emergence of Combined Kits for Dual Testing of Pregnancy and Ovulation
# Emerging Nations to Offer New Growth Avenues
# High Cost and Low Accuracy of Ivf Treatment
Challenges:
# High Cost of Fertility Testing Monitors
Industry Trends:
# Rising Adoption of Basal Body Temperature-Based Ovulation Monitors
# Easy Availability of Ovulation Monitors on E-Commerce Websites
Industry’s Revenue Growth Expectations:
The global fertility test market is expected to reach USD 583.1 million by 2023 from USD 386.7 million in 2017, at a CAGR of 7.2% during the forecast period.
The time frame considered for the study is as follows:
Base Year: 2017
Forecast Period: 2018–2023
Geographical Growth Scenario:
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global fertility test market during the forecast period (2018-2023).
The large share can be attributed to the growing use of fertility monitoring devices for contraception and rising awareness about the benefits of ovulation monitors through social media, marketing campaigns, and e-commerce sites. In addition, the emergence of advanced easy-to-use fertility monitors with high accuracy is one of the key factors propelling the growth of the fertility test market in North America.
Read More: https://www.marketsandmarkets.com/PressReleases/fertility-testing-devices.asp
Leading Market Players:
The major players operating in the fertility test market include SPD Swiss Precision Diagnostics (Switzerland), Church & Dwight (US), and Prestige Brands Holdings (US), among others.
Analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as product launches, enhancements, and strategic acquisitions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the fertility test market. Among these business strategies, product launches was the most widely adopted growth strategies by the players in the fertility test market.
Stakeholders in the Global Industry:
# Fertility testing devices manufacturing companies
# Distributors, suppliers, and commercial service providers
# Fertility clinics
# Research laboratories and academic institutes
# Market research and consulting firms
