Albany, NY, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has published a new report titled, “ Fertility Testing Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global fertility testing devices market was valued at US$ 420 Mn in 2017, and it is projected to expand at a CAGR of more than 5% from 2018 to 2026. Rise in awareness toward fertility testing and increase in infertility rates are projected to drive the global market during the forecast period. North America and Europe are anticipated to dominate the global fertility testing devices market in the next few years owing to the rise in obesity, improvement in technology, and rise in trends of POC testing. The fertility testing devices market in Asia Pacific is expected to expand at a rapid pace from 2018 to 2026. This is attributed to the increase in population, increase in awareness about fertility testing, and high usage of the testing devices in developed countries such as Japan and Australia. The market in Asia Pacific is projected to expand at a CAGR of between 5% to 6% from 2018 to 2026.
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Increase in infertility rate to drive global market
Increase in infertility rate across the globe is a major factor that is estimated to fuel the global fertility testing devices market during the forecast period. Rise in obesity and fertility-related problems such as PCOS is expected to propel the global market during the forecast period. Furthermore, delayed child bearing due to financial instability, technological advancements in fertility testing devices, and increase in awareness toward fertility testing primarily in developing countries are other factors that are likely to drive the market during the forecast period. However, ever-increasing cost of fertility testing devices, reluctance to undergo fertility testing in several developing countries, and lack of awareness are some factors that are likely to restrain the global fertility testing devices market during the forecast period.
Ovulation prediction kit segment to dominate global fertility testing devices market
The report offers detailed segmentation of the global fertility testing devices market based on product type, gender, distribution channel, and region. In terms of product type, the fertility testing devices market has been segmented into ovulation prediction kits, male fertility testing kits, fertility monitors, and others. The fertility monitors segment has been further sub-segmented into saliva-based monitors and urine-based monitors. The ovulation prediction kits segment is expected to account for a leading share of the global market during the forecast period. Higher share held by the segment is attributed to easy availability of the kits via OTC and online sales. Based on gender, the global market has been classified into female and male fertility monitoring devices. The female monitoring devices segment is expected to expand at a rapid pace during the forecast period, owing to increase in fertility related problems in females. Based on distribution channel, the global market has been segregated into drug stores and pharmacy, gynecology and fertility clinics, e-commerce, and others. The drug stores & pharmacy segment dominated the global market, accounting for more than 40% share in 2017, due to the rise in OTC sales, and trending POC testing of fertility.
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Asia Pacific market to expand rapidly
In terms of region, the global fertility testing devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a major share of the global market, in terms of value, in 2017. It is projected to dominate the market during the forecast period. The market in the region is anticipated to expand at a CAGR of between 4% to 5% from 2018 to 2026. Rise in awareness about fertility testing, increase in rate of infertility, and easy usage of the systems are likely to drive the market in the region during the forecast period. Europe is projected to follow North America, in terms of share of the global fertility testing devices market, by 2026. The market in the region is anticipated to expand at a significant CAGR from 2018 to 2026. Rise in infertility rates and high health care spending are expected to fuel the market during the forecast period.
The fertility testing devices market in Asia Pacific is anticipated to expand at a rapid pace from 2018 to 2026. The market in the region is likely to expand at a CAGR of more than 5% during the forecast period. Increase in population, rise in prevalence of fertility-related problems such as PCOS, increase in awareness toward fertility testing, and rise in rates of invitro-fertilization are expected to boost the market in the region. Australia, Japan, India, and China are highly lucrative markets for fertility testing in Asia Pacific. The market in China is expected to expand at a notable CAGR during the forecast period due to rise in population and availability of inexpensive prediction kits in the country. The fertility testing devices market in Latin America is projected to expand at a steady pace from 2018 to 2026. Investment by major players is anticipated to propel the market in the region.
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Key players
Key players in the global market are adopting strategies such as mergers and acquisitions, technological developments, and geographic expansion in order to capture significant market position. Major players operating in the global fertility testing devices market include Church & Dwight Co., Inc., bioZhena Corporation, Geratherm Medical AG, SPD Swiss Precision Diagnostics GmbH, Emay (HK) Limited, Alfa Scientific Designs, Inc., Piramal Enterprises Ltd, Ava Science Inc., and Hilin Life Products.
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