April 20, 2024
Fertility Testing Market

Fertility Testing is Trending by Rising Infertility Rates

The fertility testing market involves tests that help in detecting infertility issues and monitoring ovulation cycles. These tests help determine the factors affecting conception and fertility levels. Fertility testing includes tests such as ovulation prediction kits, fertility monitors, and pregnancy self-tests. The growing incidences of infertility and increased focus on healthy pregnancy diagnosis are driving the demand for fertility testing solutions globally. The ability of fertility testing to help couples unable to conceive naturally and offer early diagnosis of fertility issues has accelerated its adoption worldwide.

The Global Fertility Testing Market is estimated to be valued at US$ 667.13 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in The Fertility Testing Market are AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., and Boehringer Ingelheim International GmbH. These major companies are focused on expanding their product portfolios through acquisitions and partnerships. For instance, in 2021, AstraZeneca acquired Alexion Pharmaceuticals to strengthen its pipeline of fertility drugs.

The growing incidences of infertility worldwide due to stress, changing lifestyle, obesity, and sexually transmitted diseases are fueling the demand for fertility testing solutions. The increasing focus on early pregnancy diagnosis and need to plan pregnancies is also propelling the market’s growth. According to the World Health Organization, around 48 million couples globally suffer from infertility.

The fertility testing market is witnessing significant expansion in developing nations due to the rising disposable incomes, growing awareness, and improving access to advanced healthcare facilities. The increasing penetration of online sales channels along with easy availability of home-use testing kits is further boosting the market growth in emerging economies.

Market Key Trends

Artificial Intelligence (AI) and digital technologies are playing a vital role in transforming the fertility testing landscape. Major players are investing in AI and machine learning-driven innovations to improve testing accuracy and enable early diagnosis. For instance, digital fertility apps use algorithms and data collected through self-monitoring to track ovulation cycles and fertility signs. Such AI-driven testing solutions are gaining rapid popularity due to their convenience and lower costs. Similarly, digital fertility monitors use biosensors and imaging technologies for advanced tracking of fertility biomarkers. The integration of digital technologies is expected to revolutionize the fertility testing market during the forecast period.

Porter’s Analysis
Threat of new entrants: Low barriers to entry in terms of capital requirement but established players dominate the distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but often prefer brands and quality offered by established players.
Bargaining power of suppliers: A few dominant global players controlling key raw materials provide stable supply but also exert pressure on profit margins.
Threat of new substitutes: Threat of new substitutes is moderate as fertility troubleshooting has few alternative options but disease prevention substitutes can impact sales.
Competitive rivalry: Intense competition among top players to gain higher market share through new product launches and aggressive pricing.

North America accounts for the highest value share in the fertility test market due to favorable reimbursement policies, larger healthcare spends and early adoption of advanced fertility diagnostic technologies. Asia Pacific registers the fastest growth supported by increasing medical tourists, rising infertility rates and growing healthcare infrastructure in major countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it