Female Fertility and Pregnancy Rapid Test Market Key Segments, Size and Future Potential
A number of factors, such as the surging prevalence of uterine malformations, growing aging female population, rising adoption of at-home diagnostic testing devices, increasing number of infertility cases, and growing awareness about pregnancy and fertility among females, are projected to boost the growth of the female fertility and pregnancy rapid test market at a CAGR of 4.5% in the forecast period (2016–2022). At this rate, the market size is expected to reach $489.3 million by 2022.
The primary factor improving the female fertility and pregnancy rapid test market growth prospects is the increasing adoption of at-home diagnostic testing devices. These devices are cost-effective and easy-to-use for patients in their homes, which saves them from opting for laboratory tests. Moreover, the increasing healthcare expenditure across the world is fueling the demand for these devices, as the rising spending provides access to improved medical treatments to patients. Further, the introduction of diagnostic products with advanced features is projected to improve the market growth.
Further, the rising consumption of alcohol, unhealthy lifestyle, and hormonal imbalance are propelling the number of infertility cases, which are often caused by ovulation problems, in women across the world. This drives the demand for female fertility and pregnancy rapid test products. Moreover, the presence of several companies in the female fertility and pregnancy rapid test market drives its growth. Some key players include Gemc Technology Group Co. Ltd., SA Scientific, Alere Inc., BioMerieux SA, Church & Dwight Co. Inc., Diagnostic Automation/Cortez Diagnostics Inc., Nantong Egens Biotechnology Co. Ltd., and Atlas Medical.
Geographically, the North American female fertility and pregnancy rapid test market will account for the largest share in coming years. This can be attributed to the rising aging female population, as aged women are more prone to illnesses like fibroids and polycystic ovary syndrome (PCOS), which lead to a high demand for hormone testing devices. This population is increasingly experiencing hormonal-imbalance-induced issues like indescribable miscarriages, irregular and heavy bleeding, and abnormalities in the uterus. These disorders will generate a high demand for these devices in the region in the future.
Source: P&S Intelligence
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