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.
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.
Another key factor driving the demand for female fertility and pregnancy rapid test devices is the growing aging female population across the globe. The aged female population is more prone to a range of hormonal illnesses, such as fibroids, abnormal uterine bleeding, and polyps. To detect these disorders, fertility and pregnancy rapid testing devices are required in large numbers. Also, older women often have the problem of an irregular menstrual cycle. Owing to these factors, the market is projected to witness significant growth in the forecast period.
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.
The type of test segment of the female fertility and pregnancy rapid test market is categorized into luteinizing hormone (LH), follicle stimulating hormone (FSH), and human chorionic gonadotropin (HCG). Among these, the LH category is expected to hold the largest share in the market till 2022. Additionally, based on product, the market is classified into cards/cassettes, strips/dipsticks, and midstreams. Of these, the strips/dipsticks category is projected to contribute the highest revenue to the market till 2022, while the midstreams category is projected to observe the highest CAGR during the forecast period.
Pramod has around 7 years of experience in market research and consulting services for healthcare industry.
