by Fertility testing involves examining factors that affect a woman’s fertility, identifying possible causes of infertility, and assessing overall reproductive health. Products in this market include ovulation predictor kits, fertility monitors, and fertility rapid tests. These kits help track ovulation through monitoring of urine, saliva, or urine by identifying luteinizing hormone (LH) and estrogen surges. Fertility monitors continuously measure biological markers of fertility like estrogen, LH, and temperature shifts to accurately predict ovulation. Rapid fertility tests allow home detection of luteinizing hormone (LH) surge just before ovulation. 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 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global fertility test market size is the growing adoption of digital platforms and connected fertility monitors. Companies are innovating by integrating connectivity features in fertility monitors to allow convenient tracking of fertility cycles on mobile apps. For instance, Ava offers an FDA-approved wearable fertility tracker bracelet and mobile app. The bracelet tracks biological signs like heart rate, breathing rate, sleep patterns, and peripheral temperature to predict ovulation. The information is synced to a smartphone app to provide personalized ovulation and fertility predictions and cycle insights. Similarly, companies like Mira and Kindara offer Bluetooth-enabled fertility monitors and companion mobile apps. The connectivity helps in automated, continuous monitoring of fertility signs from the comfort of home without scheduling appointments. This is expected to drive the demand for connected fertility products. Further, rising awareness about fertility health amongst both men and women is also expected to support the growth of the fertility test market over the forecast period. However, social stigma and cultural barriers still exist around infertility in certain regions, which may hamper the market growth.
Porter’s Analysis
Threat of new entrants: Low cost and regulations create barriers for new players to enter this market. Bargaining power of buyers: Buyers have low bargaining power in this market as there are established key players offering unique products. Bargaining power of suppliers: Suppliers have moderate bargaining power due to need for specialized raw materials and tools required for production. Threat of new substitutes: There exists threat from alternative diagnostic methods, but fertility tests have well entrenched positions. Competitive rivalry: Competition is intense among key players to gain higher market share through innovative products and regional expansion strategies.
Key Takeaways
The global fertility test market is expected to witness high growth.
Regional Analysis: North America dominates the global fertility test market due to advanced healthcare facilities and increasing infertility rates. Europe holds a significant share in the market. Asia Pacific is expected to grow at the fastest rate during the forecast period due to rising awareness.
Key players operating in the fertility test market are AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., Boehringer Ingelheim International GmbH. Major players are adopting organic and inorganic growth strategies like new product launches, expansion strategies to strengthen their global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
