In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSThe global luteinizing hormone test market is estimated to grow with a high CAGR during the forecast period, i.e., 2022-2030. The increasing infertility rate globally, along with the growing investment in the innovation of technologically improved products are expected to fuel the development of the market. The growth of the market can also be attributed to factors, such as, the increasing awareness among the population towards gynaecological problems and the rising middle-class population in the emerging economies on a global level. According to the data collected from the World Health Organization (WHO), in 2020, approximately 48 million couples, and 186 million individuals across the globe live with infertility. Such increasing number of infertility rate has rapidly increased the requirement for luteinizing hormone test in the market. Moreover, the growing incidence rate of prostate cancer is another major factor coupled with raised chances of living of a person when treated with luteinizing hormone releasing hormone (LHRH) agonist therapy combined with surgery is expected to boost the market growth. Furthermore, the propelling demand for ovulation and fertility monitors in emerging economies is expected to develop remarkably in the upcoming years on account of the rising prevalence of PCOS, increasing infertility rates, obesity, growing fertility education, and easy availability of fertility monitors through online platforms, pharmacies, and offline stores, drugstores.
The global luteinizing hormone test market is segmented by disease indication into irregular menstrual cycle, infertility, PCOS, pituitary disorder, and others, out of which, the infertility segment is anticipate to garner a notable market share over the forecast period, owing to the increasing concerns regarding infertility among couples. According a report by the Centres for Disease Control and Prevention (CDC), 8.8% women between 15 to 49 years of age experience infertility in the U.S., as of 2017. Based on distribution channel, the market is segmented into hospitals, clinics, diagnostic centres, fertility centres, and others. Out of these, the fertility centres segment is estimated to hold the largest share in the market throughout the forecast period, on the back of growing concern and awareness for infertility among the couples and individuals across the developing and developed countries. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the growing population, increasing awareness regarding infertility among the individuals in the region. The market in North America is anticipated to garner the largest share in terms of revenue, owing to the increasing incidence of infertility among the women aged between 15-44 years in the region. According to other report by the CDC, annually approximately 6.1 million women, that is 10% of the women in the U.S., face difficulty to conceive or staying pregnant. Such increasing issues during the reproductive age among the individuals and couples is further expected to drive the demand for luteinizing hormone test in the North American countries.
The global luteinizing hormone test market is further classified on the basis of region as follows:
Our in-depth analysis of the global luteinizing hormone test market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising cases of infertility and increasing in the incidence of male hypogonadism are the key factors driving market growth.
The market is anticipated to attain a high CAGR over the forecast period, i.e., 2022-2030.
Regulations issued by FDA and lack of accuracy & specificity factors are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing population and infertility among individuals.
The major players dominating the Luteinizing Hormone Test market are Merck & Co., Cigna Corporation, Lee BioSolutions, Inc., Swiss Precision Diagnostics GmbH, Abbott Laboratories, Quidel Corporation, Geratherm Medical AG, bioMérieux SA, CIGA Healthcare Ltd, and Others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by disease indication, end-user, distribution channel, and region.
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