Fertility Testing Devices Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (Ovulation Prediction Kits, Fertility Monitors, Male Fertility Test Products); Mode of Purchase (Prescription-Based, Over-the-Counter, Online); Application (Female Fertility Testing Device, Male Fertility Testing Device); End User (Home Care Settings, Hospitals & Fertility Clinics, And Others); Region/Country
Global Fertility Testing Devices Market is expected to grow at a significant rate of around 8% during the forecast period. This is mainly due to the rapid advancement in technology and rises in first-time pregnancy age and the availability of less time-consuming reorganized diagnostic tests in place of laboratory tests are responsible for the market growth of the fertility testing devices market. Furthermore, the increasing adoption of home-based diagnostic testing products significantly contributes to the market for testing devices. According to CDC, in 2019, about 6% of married women aged 15-44 years in the United States were unable to conceive after one year of trying. Moreover, the increasing elderly population of the country is also responsible for boosting the market for fertility testing devices market. The demand for fertility testing devices products also increased due to the rising prevalence of medical conditions like hormonal imbalance in females such as irregular and heavy bleeding, indescribable miscarriages, and abnormalities of the uterus which is responsible for excessive use of fertility testing devices and significantly contributes to the market for these devices. Therefore, the market for fertility testing devices market is expected to witness significant growth during the forecast period.
Church & Dwight Co. Inc., Geratherm Medical A.G., Prestige Consumer Healthcare Inc., Swiss Precision Diagnostics GmbH, Procter & Gamble Co., Abbott Laboratories, Piramal Enterprises Ltd., Quidel Corporation, Alfa Scientific Designs Inc., AdvaCare Pharma are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, ovulation prediction kits category to witness significant CAGR during the forecast period”
Based on product, the market is segmented into ovulation prediction kits, fertility monitors, and male fertility test products. The ovulation prediction kits category is to witness significant CAGR during the forecast period owing to the growing penetration of fertility testing devices. When taken correctly, ovulation tests are approximately 99% accurate in detecting the LH surge that precedes ovulation
“Amongst mode of purchase, the over-the-counter to hold a significant share in the market in 2020”
On the basis of the mode of purchase, the market is categorized into prescription-based, over-the-counter, and online products. Among these, the over-the-counter to hold a significant share of the market in 2020. This is mainly due to the.
“Amongst application, the over-the-counter to hold a significant share in the market in 2020”
On the basis of the application, the market is categorized into female fertility testing devices and male fertility testing devices. Among these, female fertility testing devices to hold a significant share of the market in 2020. This is mainly due to the.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global fertility testing devices market. This is mainly attributed to the rising infertility issues in both genders, the increase in technology development in emerging economies, as well as the expansion of the healthcare industry, which has contributed to the growth of the North America market. As per the National Institutes of Health, about 9% of men and about 11% of women of reproductive age in the United States have experienced fertility problems in 2018. North America has a higher adoption rate of technologically advanced and innovative solutions and devices. The enhanced consumer awareness regarding the availability of various fertility testing devices has propelled the growth of the market in the region. Hence these require devices in the region which drives the demand for female fertility and pregnancy rapid tests in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Fertility Testing Devices Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global fertility testing devices market were the three major steps undertaken to create and analyze the adoption of fertility testing devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global fertility testing devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the fertility testing devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the fertility testing devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, mode of purchase, application, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the fertility testing devices market. Further, we conducted factor analysis using dependent and independent variables such as various increasing prevalence of infertility issues in adults due to sedentary and unhealthy lifestyles of fertility testing devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the fertility testing devices market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global fertility testing devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the fertility testing devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global fertility testing devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global fertility testing devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, mode of purchase, application, and end user in the global fertility testing devices market.
The main objective of the Global Fertility Testing Devices Market Study
The current & future market trends of the global fertility testing devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the fertility testing devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, mode of purchase, application, and end user.
- Define and analysis of the regulatory framework for the fertility testing devices
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the fertility testing devices market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the fertility testing devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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