The fertility testing devices market is poised to register significant growth with 5% CAGR during 2018 and 2026.
The fertility testing devices market is poised to register significant growth with 5% CAGR during 2018 and 2026. The market was evaluated at US$420 mn, its highest in 2017. The market is expected to reach $600 mn by 2026. The market is projected to witness robust growth as technological advancements drives demand for portable, quick, and accurate testing.
Additionally, high prevalence of chronic and lifestyle illnesses like cancers, and diabetes are also expected to result in tremendous demand for advanced medical devices in the near future. Growing liberalization of sexual activity, and arising issues like teenage pregnancy are expected to make way for home-based testing methods. To supplement this growth, the technological advancements like electrical devices, fertility prediction kits, and sperm test kits are on the rise. Factors such as lack of exercise, rising stress in work life, and delayed pregnancy trends among women are also expected to drive significant growth for fertility and sperm monitoring devices.
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Rise in Fertility Rates a Major Reason for Growth
Rising disposable incomes and rising birth rates across the globes are expected to drive significant growth for the fertility testing devices market. Additionally lifestyle diseases like diabetes, and rising economic instability are hindrance in some regions. The growth in child rates and rising awareness about fertility rates in developed regions are expected to major drivers of growth. Additionally, rise of startups and online portals are raising awareness about sexual health. Moreover, increasing initiatives by private companies to cater to young women who work late are also expected to drive significant growth for the market. Among these are companies like Facebook, and Google who announced that they were looking at ways to provide options to women to freeze their eggs for production at later stages in life. The rising support in the private sector for working women is likely to drive significant growth for the fertility testing devices market.
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Ovulation Monitoring Devices Promise Robust Growth
Based on product type, the global fertility testing devices market is divided into distribution channel, gender, and region. Among various products in the market, the prominent ones include fertility monitors, ovulation prediction kits, male fertility testing kits, and other. Additionally, products like urine-based monitors, and saliva-based monitors are also prominent in the market. Among these, the saliva-based monitors are growing in demand as a non-invasive clean, and reusable technology. The ovulation prediction kit are expected to emerge as the largest in the near future as it has conventionally held the largest share of the market. These kits also provide an easy-to-use applications, and widely available.
High costs of the devices and rising competition for a small number of application is expected to remain a hindrance to growth for the fertility testing devices market. However, rising birth rates in non-Caucasians are expected to result in significant growth.
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Some key players having significant presence in the global fertility testing devices market are engaging in geographic expansion, and technological developments in order to gain significant strategic advantage in the global landscape. Major players operating in the global fertility testing devices market include Geratherm Medical AG, bioZhena Corporation, SPD Swiss Precision Diagnostics GmbH, Alfa Scientific Designs, Inc., Ava Science Inc., Piramal Enterprises Ltd, Emay (HK) Limited, and Hilin Life Products.
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