Pune, Sept. 15, 2020 (GLOBE NEWSWIRE) — Global assisted reproductive technology market size is likely to gain traction owing to the increasing cases of infertility worldwide.
The Centres for Disease Control and Prevention states an average of 306,174 ART cycles was undertaken in 2018 within fertility clinics in the United States. As per a recent study by Fortune Business Insights titled, “Assisted Reproductive Technology Market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2019-2026,” the market is expected to reach USD 45.06 billion by the end of 2026 from USD 21.32 billion earned in 2018, by exhibiting a CAGR of 9.8% between 2019 to 2026.
The Report Answers the Following Queries
- What is the nature of the market?
- How will Gamete Intrafallopian Transfer (GIFT) aid in the expansion of the market?
- What are the major drivers, restraints, and challenges of the market?
- Which players are operating in the market?
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Drivers & Restraints-
Rising Cases of Infertility Among Men and Women to Augment Growth
As per the 2018 National Survey of Family Growth (NSFG) report, an estimated 6.7% women between the ages 15 to 44 years were suffering from infertility in the U.S. This may be due to change in lifestyle, irregular eating and sleeping habits, therefore depriving the body of complete rest, and others. Infertility can also occur in men and therefore the increasing rate of infertility among both men and women on a global basis is a key factor propelling the assisted reproductive technology market growth.
On the negative side, the high cost associated with the treatment may pose a major hindrance to the market in the coming years. According to the World Health Organization (WHO), most females residing in emerging nations do not opt for this service owing to its high cost. This, coupled with the socio-ethical stigma associated with the treatment procedures may also hamper the market in the coming years.
Nevertheless, the advent of various conceiving techniques such as in-vitro fertilization (IVF), gamete Intrafallopian transfer (GIFT), artificial insemination (AI-IUI) and frozen embryo transfer (FET), coupled with its success rates are further expected to add impetus to the market in the coming years.
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Europe Earned Highest Share Attributable to Rising Prevalence of Infertility Cases
Geographically, Europe earned USD 8.78 billion in 2018 and gained the highest ART market share on account of the increasing prevalence of infertility cases in the region, followed by increasing demand for assisted reproductive technology for conceiving. Germany, the UK, Spain, France, and Denmark are the most active nations for fertility services in this region.
Additionally, the North America market will witness significant growth on account of increasing adoption of technologically advanced fertility services in the U.S. Besides this, Asia Pacific market will also witness rapid growth in the coming years on account of the increasing disposable incomes of people, developing healthcare infrastructure and reduction in socio-ethical stigma among the local population.
European Sperm Bank, California Cryobank, and Bloom IVF Centre are Holding Dominance Owing to Strong Portfolio
Players operating in the market for assisted reproductive technology (ART) are engaged in various strategies such as strong network and portfolio, and introduction of better-advanced fertility procedures at efficient prices for gaining momentum in the market. Currently, players namely California Cryobank, Bloom IVF Centre, and European Sperm Bank are dominating the market with their strong portfolio.
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Key Industry Developments of the Market include:
July 2019 – A provider of fertility services based in Queensland called Fertility Solutions acquired Monash IVF Group for expanding its geographical presence.
April 2019 – A major stake of CARE Fertility was acquired by Silverfleet Capital Partners with the major objective of strengthening their portfolio.
Fortune Business Insights™ lists out the names of market manufacturers. They are as follows:
- European Sperm Bank
- California Cryobank
- Apollo Hospitals Enterprise Ltd.
- Bloom IVF Centre
- INVO Bioscience
- CARE Fertility
- Carolinas Fertility Institute
- Monash IVF Group
- Other players
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Assisted Reproductive Technology Market Segmentations:
• In Vitro Fertilization (IVF)
• Artificaial Insemination (AI-IUI)
• Frozen Embryo Transfer (FET)
• Fresh Donor
• Fresh Non-donor
• Frozen Donor
• Frozen Non-donor
By End User
• Fertility Clinics
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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