The growing awareness about fertility testing across the world is boosting the fertility testing devices market. The rise in infertility, high prevalence of obesity, increasing rate of technological advancements are some key factors that are bolstering the global fertility testing devices market. Individual fertility is dependent on several factors such as sexual behavior, hormonal balance, nutrition, and gender.
The fertility tests are conducted for the determination of factors responsible for infertility in a couple who are trying to become parents. Different types of fertility testing devices such as cervical mucus monitors, basal body temperature monitors, fertility monitors, male fertility testing kits, and ovulation prediction kits are available in the fertility testing devices market.
The research insights on fertility testing devices market has come up with valuation of industry at US$ 420 Mn in 2017. Further, it is anticipated to rise around US$ 600 Mn. during the forecast period from 2018 to 2026. The fertility testing devices market is further expected to grow at a compound annual growth rate (CAGR) of 5% from 2018 to 2026.
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North America Contributing with Handsome Revenue Amount in Fertility Testing Devices Market
The research report on fertility testing devices market has studied the division of the industry on the basis of region, distribution channel, gender, and product type. North America holds a prominent share in the fertility testing devices market and contributes a handsome amount in the market revenue. According to market analysis on fertility testing devices market, some key factors such as the prevalence of infertility, awareness about fertility testing, and rise in obesity are driving growth in this region. Further, the key trends in the fertility testing devices market have identified countries such as Japan, China, and India where significant growth opportunities have been traced. The driving factors for the growth include growing infertility, rise in lifestyle-related diseases, and growing population of the region.
The growing rate of infertility in countries across the globe serves as a key driving factor for the growth as per key trend in fertility testing devices market. Furthermore, delayed pregnancies because of financial instability, the high pervasiveness of PCOS, and diseases related to lifestyle are some of the key responsible factors for the growth in the fertility testing devices market. Furthermore, increasing awareness about fertility testing in the developed economies and prevailing OTC fertility diagnosis test kits are serving as prominent factors to fuel the fertility testing devices market.
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Despite a lot of profits, there are a few factors that curtail the growth in the fertility testing devices market. Hesitation to undergo fertility testing and high prices of fertility monitoring are some crucial factors that may restrain the fertility testing devices market growth.
Mergers and acquisitions, geographical expansion, and technological developments are some strategies traced through industry insights in the fertility testing devices market. Some of the key industry players in the fertility testing devices market include Hilin Life Products, Ava Science Inc., Piramal Enterprises Ltd., Emay (HK) Limited, bioZhena Corporation, Geratherm Medical AG, and Alfa Scientific Designs, Inc.
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Fertility Testing Devices Market Driven by Trend of Planned Pregnancies
Birth management and control have always been primary focus areas in the healthcare industry. The past decade has witnessed significant growth with maternity research, birth control measures, and increasing investments for the conduction of fertility studies. Although birth control researches and fertility studies are visibly two opposite directions, these are mostly studied with the help of the same scanner. So, it will further boost the fertility testing devices market at a rapid pace in the upcoming years. The healthcare industry has been able to draw public confidence, and it has boosted their confidence in the introduction of novel testing and analysis lines. This factor is expected to propel growth in the fertility testing devices market in recent years.
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