Home Self-Testing (HST) Is The Largest Segment Driving The Growth Of The Global 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:
Fertility test is used to check ovulation pattern and estimate time of ovulation which helps in planning conception. Tests can detect luteinizing hormone (LH) surge which occurs 24-36 hours before ovulation. It provides early information regarding changes in fertility hormones.
Market key trends:
One of the key trends in the fertility test market is rising adoption of home self-testing kits. Easy availability and convenience of home self-testing kits have increased their popularity. Individuals can check fertility levels privately in their homes and plan conception accordingly. Increasing awareness regarding fertility health through social media marketing and e-commerce platforms have further boosted sales of home testing kits. Rising internet penetration and focus on digital healthcare are favoring online sales of such products.
SWOT Analysis
Strength: Fertility tests are minimally invasive and provide quick diagnostic results. Home-based fertility tests allow for private testing without visiting a clinic.
Weakness: Home-based tests may have less accuracy than laboratory tests. Lack of consultation with a medical professional limits personalized diagnosis and treatment planning.
Opportunity: Rising infertility rates create demand for convenient screening tools. Expanding access to affordable testing helps more people plan families.
Threats: Stricter regulations could raise costs and compliance burdens. Reimbursement uncertainty impacts the profitability of test manufacturers.
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 preference for home use products for fertility testing.
Regional analysis: North America dominates the fertility test market currently due to the high prevalence of fertility-associated diseases and increasing adoption of advanced fertility monitoring devices in the region. Asia Pacific is expected to exhibit the fastest growth during the forecast period owing to the rising medical tourism, burgeoning middle-class population, and increasing awareness about fertility testing.
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. Abbott Laboratories and Quidel Corporation are recognized as leading industry players due to their diverse product portfolios for fertility testing and established distribution networks worldwide.
Read More:
https://insightskies12.blogspot.com/2023/12/increasing-adoption-of-in-vitro.html
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