Growth in the Fertility Test Market can be attributed to factors, such as increasing first-time pregnancy age, the launch of advanced, easy-to-use fertility monitors with high accuracy, and increasing awareness about fertility testing.
Northrook, IL -- (SBWIRE) -- 11/04/2019 -- The Global Fertility Test Market is expected to reach USD 772.9 million by 2027 from USD 411.8 million in 2018, at a CAGR of 7.2% during the forecast period.
Can the emergence of combined kits for dual testing of pregnancy and ovulation provide more opportunities for growth of the fertility test market?
Currently, some ovulation predictor kits offer a combination pack that can be used to determine the most fertile days to conceive as well as accurately determine a successful pregnancy. The demand for these combined kits (pregnancy + ovulation) has increased across the globe in recent years. This is because these devices can detect or measure both pregnancy (measuring hCG) and ovulation (measuring LH) and offer a cost-effective alternative to traditional standalone products.
Due to the high demand for combination kits for dual testing, players are increasingly focusing on developing new products. Combined kits are increasingly being accepted by women in developed and developing countries as they offer benefits in terms of reduced costs and enhanced accuracy. Thus, the development of such combination kits is expected to offer potential growth opportunities to market players in the coming years.
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Will the high cost of fertility testing monitors challenge market growth?
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 of 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. For instance, the Daysy fertility monitoring device is priced at ~USD 330, the Ava Fertility Tracker is priced at ~USD 199, the OvaCue hand-held monitor is priced at ~USD 350, and the Clearblue Fertility Monitor is priced at ~USD 110. Alternatively, the cost of ovulation strips is around USD 20, making them more affordable.
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.
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