The global fertility test market is projected to reach USD 583.1 million by 2023 from USD 411.8 million in 2018, at a CAGR of 7.2%. Growth in the fertility test market can be attributed to factors such as the increasing first-time pregnancy age, declining fertility rates in men and women, launch of advanced, easy-to-use fertility monitors with high accuracy, and increasing awareness about fertility testing.
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The global fertility test market is segmented by product, mode of purchase, application, end user, and region.
On the basis of product, the global fertility test market is segmented into ovulation predictor kits, fertility monitors, and male fertility testing products. The fertility monitors segment is expected to grow at the fastest rate during the forecast period. The high efficacy and accuracy of these monitors even for women suffering from PCOS, the ability to identify a wider fertile window (up to five fertile days) as compared to ovulation predictor kits (only two fertile days), and technological advancements are driving market growth.
On the basis of mode of purchase, the global fertility test has been segmented into prescription-based and non-prescription/OTC-based. The non-prescription/OTC-based mode of purchase segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the inclination of patients towards self-monitoring of healthcare conditions, increasing initiatives by market players to spread awareness on fertility. Furthermore, easy availability and use of fertility and ovulation monitors on e-commerce websites, and rising preference for confidentiality and accessibility of test results are adding growth opportunities for this segment.
On the basis of application, the fertility test market is segmented into two segments—female fertility testing and male fertility testing. The female fertility testing segment is expected to grow at the highest CAGR during the forecast period. Decreasing female fertility rates, availability of a wide range of fertility testing options for females, and the high cost of IVF procedures are the key factors stimulating the growth of the fertility test market for the female population.
On the basis of end user, the fertility test market is segmented into home care settings and hospitals, fertility clinics, and others. The home care settings segment is estimated to witness the highest growth during the forecast period, primarily due to the increasing inclination of patients towards self-monitoring of healthcare conditions, and growing preference for confidentiality of test results.
Geographically, North America is expected to command the largest share of the global fertility test market in 2018. However, the Asia Pacific market is expected to grow at the highest CAGR from 2018 to 2023. The key factors driving the growth of the market in APAC include declining fertility rate in this region, growing number of women suffering from lifestyle disorders as a result of rapid urbanization, growing focus of both international and domestic players on the Asia Pacific fertility testing devices market. In addition, emerging countries such as China and India are expected to offer significant growth opportunities for market players.
