LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global sperm analytical devices market to grow at a CAGR of close to 8% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global sperm analytical devices market for 2017-2021. The report also lists fertility clinics and hospitals as the two major application segments of which fertility clinics accounted for close to 61% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global sperm analytical devices market:
- Increase in rate of infertility and obesity-related cases
- Rise in income level of consumers
- Technological advances
Increase in rate of infertility and obesity-related cases
Globally, there has been a notable increase in the rate of infertility due to several reasons, including changing lifestyle that plays a considerable role in determining the body's physiology. Consumption of alcohol and drugs has an adverse effect on health and leads to infertility. Likewise, the modern work culture involves minimal physical activity and more desk work and mental stress, leading to obesity and increasing cases of male infertility.
According to Amber Chourasia, a lead analyst at Technavio for health and wellness research, “The prevalence of obesity, which is a known risk factor for ovulatory dysfunction and infertility in women and low sperm count in men, is on the rise worldwide. Obese males are three times more likely to undergo infertility treatments as compared to women, which augurs well for the growth of the market.”
Rise in income level of consumers
There is a global increase in disposable income, especially in developing countries, such as India, China, Brazil, Malaysia, Indonesia, and Vietnam. This significant development has enabled men affected with infertility to undergo fertility testing and treatment from well-established healthcare facilities.
“The increase in disposable income coupled with an increase in awareness among people about the availability of sperm analysis test procedures in the market has been driving the market, which is likely to continue in the coming years,” says Amber.
In recent years, many technologies for analyzing sperm have been developed. Currently, several stakeholders in the market are trying to work on developing inexpensive and easy-to-use sperm sorting analytical devices that have applications in ICSI, IUI, and IVF, which are some of the popular assisted reproductive technologies available for treating infertility. For instance, in June 2016, a new device based on microfluidic technology was developed that can reduce the risk of DNA damage associated with conventional sperm sorting method, which can assist infertile couples to have healthier babies.
Therefore, technological advances in sperm analysis have enabled end-users, such as fertility clinics and research laboratories, to conduct advanced sperm analysis that could lead to easier and more positive treatment for infertility. This will lead to increased adoption of sperm analytical solutions among end-users.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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