Fertility tech refers to technology driven solutions used by men and women to monitor or preserve fertility. Fertility monitoring helps couples increase their chance of conceiving. Fertility preservation reduces the impact of one’s biological clock when making decisions on conceiving and family planning. The fertility tech ecosystem also includes players who support the fertility tech industry by offering patients assistance in navigating their fertility care decision-making and financing. These tech tools are gaining traction supported by several demographic, social, and economic factors such as delaying parenthood, decreasing male fertility, and a shortage of fertility clinics.
Fertility preservation services such as egg and sperm freezing face elevated near-term demand due to an increase in uncertainty caused by the pandemic.
Fertility test kits for men and women face supply chain challenges and potentially reduced demand as family formation and expansion tends to decline during periods of economic uncertainty.
Fertility tracking and monitoring apps expected to remain largely unaffected by the pandemic.
Natural Cycles and Ava (acquired by FemTec Health) have added features to monitor Covid-19 symptoms among their users.
The fertility tech market primarily includes products engaged in fertility monitoring and tracking, which includes at-home fertility/hormone measuring kits, fertility and ovulation monitoring and tracking app, and the men’s fertility test and sperm storage segments as well as fertility preservation services. Notably, among the disruptors and watchlist companies, egg freezing services had the smallest number of companies.
Most firms in the industry are pure-play companies, with the exception of leading disruptors Kindbody and Prelude Fertility. Around half of the disruptors and watchlist companies identified in this report are early stage, with the remainder split between seed and growth stages.
Integrated players LetsGetChecked and Prelude Fertility remain highest funded, followed by financial assistance players
While most disruptors cater to a single segment in the fertility tech ecosystem, one of the highest funded disruptors, Prelude Fertility, distinguishes itself by offering a range of services. Prelude’s offering includes sperm and egg freezing, embryo creation and transfer, and genetic screening for inherited diseases and abnormalities. The highest funded disruptor in this space as of April 2022 was fertility test kit provider, LetsGetChecked.
Most disruptors compete with their segmental peers with similar products, with the exception of at-home fertility/hormone measuring kits for women, where different bodily components are used to measure hormones. For instance, Natural Cycles uses temperature to measure ovulation, whereas Kegg measures cervical fluids to track hormone levels. Furthermore, Apricity (Woom) is an exception to most period and fertility monitoring apps, as it looks to track and give more information on bodily functions, while other apps typically look to predict future cycles using the data.
Headquartered in Dublin and New York, LetsGetChecked (LGC) offers more than 100 at-home healthcare test kits for fertility, cholesterol, diabetes, thyroid, and Covid-19, among others. It provides the test results online and offers follow-up care through its telehealth and pharmacy offerings.
In the fertility tech space, the company offers two types of finger-prick test kits (a progesterone test and an ovarian reserve test) that allow samples to be gathered at home, later being mailed to the lab for analysis. The progesterone test assesses whether ovulation has occurred, and the ovarian reserve test measures the Anti-Mullerian Hormone (AMH) to indicate the number of a woman’s remaining eggs.
LetsGetChecked acquired the health and diagnostics company BioIQ in May 2022. BioIQ works with employers and health plans to provide health testing solutions such as lab testing, health screening, and vaccination services. The company operates through a nationwide network of labs and served millions of customers as at the date of acquisition. The acquisition expanded LetsGetChecked’s personalized at-home healthcare testing services including lab analysis, affiliated physician support, and prescription fulfillment to BioIQ’s health plans, employers, consumers, and public health partners.
Key customers and partnerships
As of September 2022, LetsGetChecked offered more than 100 at-home wellness and chronic condition tests, delivered over 10 million tests, and partnered with more than 300 business customers in the US, UK, and the EU.
Funding and financials
In June 2021, the company raised USD 150 million in Series D funding led by Casdin Capital, reaching unicorn status with a valuation of over USD 1 billion. The funds were utilized to expand internationally and strengthen its telehealth services, pharmacy capabilities, and at-home testing. In September 2022, the company secured a USD 20 million extension to its Series D round from Morgan Health, bringing the total funding raised to USD 283 million.
The company benefited from the Covid-19 pandemic promoting at-home healthcare and claimed its revenue grew 1,500% YoY owing to the pandemic.
Women's at-home fertility/hormone measuring kit:
Period and fertility monitoring and tracking app:
Egg freezing services and storage :
Incumbents in the fertility tech market include fertility clinics, medical device manufacturers, and testing kit providers. These companies generally opt to produce their own in-house innovations for the fertility tech market, as an extension of their current products and services. For instance, EarlySense offers a range of healthcare monitoring devices and also produces a device to monitor hormones and fertility for women.
DNA Diagnostics Center, a DNA diagnostics and testing provider, acquired Sperm Check in May 2018 to expand their testing to the fertility industry.
In addition to the healthcare enterprises, Google also has interests within the fertility tech industry, through subsidiary Fitbit’s wearables, which offers fertility tracking products, and has invested in a disruptor KindBody, an egg freezing service provider.
No investor data is available