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Fertility Test Market is Expected to Grow at a CAGR of 7.2% by 2023

 



(Medical-NewsWire.com, November 21, 2019 ) The global fertility test market is expected to reach USD 583.1 million by 2023 from USD 411.8 million in 2018, at a CAGR of 7.2%. Growth in the market can be attributed to factors, such as increasing first-time pregnancy age, launch of advanced, easy-to-use fertility monitors with high accuracy, and increasing awareness about fertility testing.



This report broadly segments the market into products, mode of purchase, application, end user, and region.



Based on product, the market is segmented into ovulation predictor kits, fertility monitors, and male fertility testing products. In 2018, the ovulation predictor kits segment is expected to account for the largest share of the market. The large share can be attributed to their low cost and high efficacy, high preference for these kits, and rising median age of first-time pregnancies in women.



Based on mode of purchase, the market is divided into two segments prescription-based and non-prescription/OTC-based. In 2018, the non-prescription/OTC-based segment is expected to account for a larger share of the market.



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The large share can be attributed to factors such as the increasing patient preference for home- and remote monitoring, e-commerce availability, confidentiality, & accessibility of test results, and growing initiatives taken by leading market players to develop easy-to-use and accurate products.



On the basis of application, the market is segmented into female fertility testing and male fertility testing. In 2018, the female fertility testing segment is expected to account for a larger share of the market. The large share can be attributed to factors such as decreasing female fertility rates, availability of a wide range of fertility testing options, and high cost of IVF procedures.



North America is expected to dominate the fertility test market during the forecast period.



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.



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.



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