Increasing Adoption Of In-Vitro Fertilization Procedures To Drive Growth Of The Global Fertility Test Market
 |
| Fertility Test Market |
The global Fertility Test Market is estimated to be valued at US$ 579.1 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Fertility Test Market consists of ovulation prediction kits and pregnancy
test kits. Ovulation prediction kits help predict the fertile window for
conception. They detect luteinizing hormone (LH) surge which signals ovulation
within 24-48 hours. Pregnancy test kits detect human chorionic gonadotropin
(hCG) hormone which is produced during pregnancy. Fertility tests provide
convenience of self-testing at home and help couples plan conception. Rising
cases of infertility and late pregnancies have contributed to the demand for
fertility monitoring and testing solutions.
Market key trends:
One of the key trends in the fertility test market is the growing preference
for home use tests. Self-administered fertility tests that can be used at home
provide convenience and privacy. Companies are developing easy to use ovulation
and pregnancy prediction kits that can deliver quick and accurate results.
Automated digital readers are also gaining popularity as they eliminate
subjectivity and provide simplified readouts. Growing acceptance of In Vitro
Fertilization (IVF) and other assisted reproductive technologies has fueled the
need for ovulation and fertility monitoring solutions to improve IVF success
rates.
Porter’s Analysis
Threat of new entrants: Low barriers to entry can increase competition in the
fertility test market. However, established brands have strong reputation and
distribution networks that make it difficult for new players to enter.
Bargaining power of buyers: Buyers have high bargaining power due to
availability of substitute products. They can choose from various brands based
on price and quality.
Bargaining power of suppliers: A few major players dominate the supply side.
This gives them control over prices of raw materials needed to manufacture
fertility tests.
Threat of new substitutes: Alternatives like ovulation kits and fertility apps
pose threat of substitution. Innovation is key to withstand competition from
substitutes.
Competitive rivalry: The presence of numerous private label brands intensify
competition. Players adopt strategies like new product launches, partnerships
and mergers to gain share.
Key Takeaways
The Global
Fertility Test Market Demand is expected to witness high growth,
exhibiting CAGR of 7.8% over the
forecast period, due to increasing aged population globally and rising
infertility rates.
North
America dominates the fertility test market currently owing to high awareness
and surging demand in the region.
The size of global fertility test market was valued at US$ 579.1 Mn in 2023 and
is estimated to reach over US$ 1 Bn by 2030. Early detection of infertility has
become key focus area for market players due to growing health issues. Players
are investing in R&D to develop accurate and easy-to-use home kits with
competitive pricing.
Key players operating in the fertility test market are Advacare Pharma, UEBE
Medical, Abbott Laboratories, Quidel Corporation, HiLin Life Products Inc.,
Geratherm Medical AG, Fertility Focus Limited, Fairhaven Health LLC, Church
& Dwight Co. Inc., and Prestige Brands Holdings Inc., among others.
Innovation and strategic collaborations are guiding business strategies of
major fertility test providers to strengthen market presence.
Read
More:
Comments
Post a Comment