Ovulation Test Market Growth, Revenue, Global Share Analysis, 2019 Size Expansion, Demand and Region wise Forecast to 2023
Market Research Future (MRFR) states in its new report that the global ovulation test market had been valued at USD 1000 million in 2016 and is projected to touch the valuation of USD 2500 by 2023. The market is perceived to have a lucrative run at a CAGR of approximately 4.5% during the forecast period (2017-2023).
Growth Drivers and Key Restraints
Ovulation tests can be described as the tests that lets the users predict their ovulatory period. Ovulation tests are able to do this by detecting the luteinizing hormone (LH). Prior to ovulation, women experience a surge in the LH level, which is a dramatic, sudden and brief growth in the level of luteinizing hormone. The growth in the awareness levels as well as the disposable income has triggered the developments in pregnancy management, elevating the market position of ovulation test.
The increasing cases of pregnancy complications is touted to be one of the prominent factors raising the demand in the market. As per reports, it has been analyzed that close to 22% of the total conceptions does not reach implantation. With the surge in the awareness levels pertaining to family planning, the demand for ovulation test has noted a sharp rise among the couples. The mounting investments to create improved health facilities for women as well as children will work in the favor of the ovulation test market.
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The high accuracy rate of the test has augmented its credibility and reliability among the consumers. This factor is perceived to be lucrative, in terms of the product demand, which will benefit the market to a large extent. Additional factors promoting the market growth include rising pregnancy complications, elevating apprehensions about first pregnancy, changing trends of premarital sex, easy availability of test kits, among others.
One of the significant trends penetrating the ovulation test market is the increasing technological advancement in this field. This trend is making the ovulation tests more reliable and accurate than ever before, which is set to do wonders for the market in the subsequent years. The Centers for Disease Control says that at least one in eight women faces issues while conceiving or sustaining a pregnancy, which can be due to health issues, age, or carious other factors. In order to capitalize on this factor, several companies are now emphasizing on developing higher-quality tests that can help women monitor their pregnancy and ovulations with ease. Case in point is Glow and Apple’s Reproductive Health kit that helps record, visualize and collect huge amounts of data with respect to the reproductive health of the patient.
The global ovulation test market has been segmented on the basis of type of test and end-user.
The types of tests are Urine Based Test, Saliva Based Test and other tests. The coverage of the urine-based test segment is presumed to be the highest during the evaluation period.
The end users are hospitals, clinics, diagnostic centers, fertility centers, home care, and others. The home care segment is projected to generate a considerable amount of market revenue in the following years.
Key Players for Global Ovulation Test Market
The prominent companies that are part of the ovulation test market include Church & Dwight Co. Inc. (U.S.), Fairhaven Health LLC (U.S.), Swiss Precision Diagnostics GmbH (Switzerland), Prestige Brands Holdings Inc. (U.S.), HiLin Life Products Inc. (U.S.), among others.
Few other significant companies in the market are Fertility Focus Limited (U.K.), Geratherm Medical AG (Germany), NecLife (India) and Piramal Healthcare (India), Accuquik (California), and others.
Yono Labs has launched a new hearing-aid-like wearable that collects data to detect ovulation. The wearable detects ovulation by endometrial biopsy, checking the blood progesterone level, ovulation predictor test, ultrasound, and by measuring the basal body temperature (BBT).
Regional Analysis of Ovulation Test Market:
The global ovulation test market consists of four primary regions, namely Asia Pacific, the Americas, Europe, and the Middle East and Africa.
The Americas is on route to become the supreme market globally, expanding at a CAGR 2.20%. The regional market is also expected to touch the valuation of USD 900 million by 2023, crossing its value of USD 550 million in 2016. Growing awareness regarding planned pregnancy is slated to substantiate the growth of the regional market during the review period.
Securing the second position in the global ovulation test market, Europe will be expanding at a growth rate of 1.24% in the next couple of years. The region benefits largely from the elevated number of women suffering from lifestyle disorders, massive healthcare expenditure, growth in investments for the development of ovulation monitors.
Meanwhile, Asia Pacific will emerge as one of the strong contenders, growing at the fastest rate in the ovulation test market. Furthermore, India has been predicted to be the fastest-growing market within the region, in addition to being the biggest market since the growth rate of the population in the country is at an all-time high. Also, with the markets in the developed countries progressively becoming saturated, the suppliers as well as manufacturers of fertility test products are now moving their base to the Asia Pacific market, which has invigorated the market growth to a considerable degree.
The ovulation test market in the Middle East and Africa is slated to be the least lucrative on account of the less awareness level with respect to the use of ovulation tests and poorly developed healthcare infrastructure in the area.
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