Global Ovulation Test Market Valuation to Reach USD 2500 Mn by 2023
Market Research Future (MRFR) has asserted in its latest report on the ovulation test market that a healthy growth will be witnessed throughout the forecast period 2017 to 2023 at a moderate CAGR of 4.5%. The global Ovulation Test Market Size will reach a valuation of USD 2500 Mn in 2023 from USD 1000 Mn in 2016. The increase in awareness and disposable income has catapulted developments in pregnancy management which has led to an expansion in the ovulation test market.
The rise in cases of pregnancy complications is one of the key factors responsible for creating demand in the market. According to a report, it is found that about 22% of the conceptions never complete implantation. The rising awareness about family planning has catalyzed the demand for ovulation test kits among the couples. The multiplying investments for making better health facilities for women and children will also favor the thriving market for ovulation tests.
The proven accuracy of the test has enhanced its reliability and credibility among the end users. Other factors contributing towards the demand generation in the market are pregnancy complications, increasing apprehensions regarding first pregnancy, easy availability of test kits, changing trends of premarital sex, etc.
Some of the key players profiled by MRFR in its report are Swiss Precision Diagnostics GmbH (Switzerland), Prestige Brands Holdings Inc. (U.S.), Fairhaven Health LLC (U.S.), Church & Dwight Co. Inc. (U.S.), HiLin Life Products Inc. (U.S.), Fertility Focus Limited (U.K.), Accuquik (California), Geratherm Medical AG (Germany), NecLife (India), and, Piramal Healthcare (India). The top-notch players exercise vigorous competition and avail of opportunities such as strategic alliances, product developments, acquisitions & mergers, etc. to garner more control of the market.
SME Fertility has recently launched a saliva based mini-microscope ovulation tester. ‘Maybe Baby’ is a mini-microscope that shows the link between the salt levels in your saliva and oestrogen. As ovulation approaches, the levels of oestrogen increase which increases the salinity (salt levels) of saliva. The product has a 52x power magnification lens for monitoring saliva.
Global Ovulation Test Market Segmentation:
By type, the ovulation test market has been segmented into urine based test, saliva based test, and, others. The urine based test segment is expected to witness the highest demand across the projection period. The segment will captivate 65% share in the market.
By end users, the market for ovulation test is segmented into hospitals, clinics, diagnostic centers, fertility centers, home care, and, others. The home care segment will generate a substantial share of market revenue over the next couple of years.
By region, the ovulation test market has been segmented into Americas, Europe, Asia-Pacific and Middle East and Africa. Americas segment is further sub-segmented into North America and South America. The North America segment will steer growth in the America region with significant amount of revenue contribution from the U.S. and Canada. North America market will thrive at 2.20% CAGR from 2017 to 2023 and reach a value of USD 900 Mn from USD 550 Mn in 2016. The growing practice of planned pregnancy has catalyzed profit earning in the Americas region.
The Europe market will exhibit growth at 1.24% throughout the forecast period. The concentration of major players such as Fertility Focus Limited, Geratherm Medical AG, etc. have been a major contributing factor favoring the expansion of the market in the region. Asia Pacific will grow at the highest CAGR and will demonstrate immense potential for proliferation of ovulation test market. India will be the primary revenue earner in the market owing to the population explosion prevailing in the country. According to a report published by the United Nations, India will surpass China to become the most populous country in the world by 2022. The Middle East & Africa will account for the least share in the market, and sluggish growth will be witnessed in the region.