Fertility Testing Devices Market to Reach 216.8m by 2020, Predicts MarketsandMarkets.
M2 PHARMA-April 12, 2016-Fertility Testing Devices Market to Reach 216.8m by 2020, Predicts MarketsandMarkets
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- The global fertility testing devices market was estimated at USD 151m in 2015 and is poised to grow at a CAGR of 7.5% during the forecast period to reach USD 216.8m by 2020, according to a new report from Indian market research firm MarketsandMarkets.
This market is broadly categorised into ovulation prediction kits and fertility monitors.
The fertility monitors segment includes saliva-based monitors, urine-based monitors and others. The ovulation prediction kits market held the larger share of the global Fertility Testing Devices Market in 2015.
However, the fertility monitors market is estimated to grow at the higher CAGR from 2015 to 2020.
A number of factors such as high efficacy and accurate results even in women suffering from PCOS, rising number of promotional activities undertaken by companies, inflow of low-cost generic products, increasing advances in fertility monitors, and large population base affected with infertility across the globe are stimulating the growth of the fertility monitors market.
As of 2015, North America (comprising the US and Canada) held the largest share of the global fertility testing devices market.
A number of factors such as the decline in fertility rate owing to the rising first-time pregnancy age and high prevalence of PCOS (polycystic ovary syndrome) among North American women, increasing awareness about the benefits offered by ovulation monitors and Fertility Awareness Methods in successful conception among women, and the development of advanced device offerings at a lower cost are driving market growth in North America.
However, the Asia-Pacific fertility testing devices market is expected to witness the highest growth in the forecast period.
Decreasing fertility rate, growing number of women suffering from lifestyle disorders, rising funding/investments for the development of fertility and ovulation monitors, and growing focus of both international and domestic players on the Asia-Pacific fertility testing devices market are some of the major factors driving the demand for fertility testing devices in the Asia-Pacific region.
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|Date:||Apr 12, 2016|
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