Research Methodologies Followed for This Study:
Secondary Research:
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the fertility test market. A database of the key industry leaders was also prepared using secondary research.
Primary Research:
Primary research was conducted after acquiring extensive knowledge about the global fertility test market scenario through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as hospitals, fertility clinics, research universities, academic institutions, and government institutions, among others) and supply-side respondents (such as presidents, CEOs, vice presidents, directors, general managers, heads of business units, and senior managers) across five major geographies, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa. Approximately 30% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 70%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.
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Expected Revenue Gains in Near Future:
The fertility test market is projected to reach USD 680 Million by 2025 from USD 472 Million in 2020, at a CAGR of 7.5 % the forecast period. Growth in this market is primarily driven by by the increasing first-time pregnancy age in women, declining fertility rate among men and women, growing number of women suffering from disorders such as PCOS, emergence of advanced ovulation monitors, and the increased awareness of fertility testing in both developed as well as developing countries.
Opportunity: Emerging nations to offer new growth avenues
Emerging markets such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities to players operating in the fertility test market. The demand for fertility and ovulation monitors in emerging countries is expected to grow significantly in the coming years due to the rising infertility rates, increasing prevalence of PCOS and obesity, growing fertility education, and easy availability of fertility monitors through e-commerce websites, pharmacies, and retail shops/drugstores. In addition, friendly regulatory policies and less competition among players in developing markets (as compared to developed markets) have encouraged companies to focus on emerging countries.
Challenge: High cost of fertility testing monitors
Price and brand recognition are two important criteria for the adoption of fertility testing kits and monitors across the globe. Being elective and non-reimbursable in nature, the price of a device is a prime determinant for its use. Although advanced branded fertility monitors possess high accuracy in identifying the fertility window, they are priced at a premium due to the high costs involved in maintaining brand loyalty, obtaining regulatory approvals, and incorporating the software in the systems. Owing to the high cost of these fertility monitors, a very limited number of patients in developing countries can afford them. This, in turn, is limiting the acceptance of these products, mainly in developing countries.
Recent Developments:
# February 2021, Fertility Focus partnered with ExSeed Health, a home-based sperm testing company. Under this partnership, both companies would together provide solutions to couples planning a pregnancy.
# May 2019, Fertility Focus (UK) launched an updated version of OvuSense App— OvuSense App v.2—with features such as increased flexibility in data viewing (three different ways), more choices for logging events than most of the apps, and increased accuracy in terms of monitoring cycles.
# January 2017, NFI Consumer Healthcare (US), a division of Gregory Pharmaceutical Holdings (US), completed the acquisition of the e.p.t OTC pregnancy.
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The home care settings segment is expected to register the highest CAGR during the forecast period
Based on end-users, the fertility test market has been segmented based on end-user category—home care settings, hospitals and fertility clinics, and other end users. The large share and high growth of this segment can be attributed to the inclination of patients toward self-monitoring of healthcare conditions, easy access to fertility and ovulation monitors on e-commerce websites, availability of user-friendly and easy-to-handle devices, and the growing preference for the confidentiality of test results.
North America dominated the global fertilty test market in 2020
North America, comprising the US and Canada, accounted for the largest share of the fertility test market in 2020. The large share of this region can primarily be attributed to factors such as high prevalence of infertility, increasing awareness about fertility testing among women, the rising age of first-time pregnancies in women, and the easy availability of ovulation and fertility monitors through e-commerce websites.
Key Players:
Swiss Precision Diagnostics (Switzerland), Church & Dwight (US), Prestige Brands Holdings (US), bioZhena (US), Fairhaven Health (US), Fertility Focus (UK), Geratherm Medical (Germany), Hilin Life Products (US), UEBE Medical (Germany), AdvaCare Pharma (US), AVA (Switzerland), Babystart (UK), Valley Electronics (Germany), Sensiia (UK), and Mira Care (US), among others are some of the major players operating in the global fertility test market.
