Assisted Reproductive Technology Market Size, Share, Growth, Global Industry Analysis By 2023
Global assisted reproductive technology (ART) market is expected to grow at a CAGR of ~10% over the forecast period
Market Research Future (MRFR) has announced a new release on the global assisted reproductive technology market. The report takes a close look at the historical and present trends in the global assisted reproductive technology market and provides readers with an accurate picture of the probable growth trajectory of the market over the forecast period. The segmentation and competitive landscape of the global assisted reproductive technology market are also assessed in the report to help readers understand the granular structure of the market.
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Assisted reproductive technology includes fertility medication, in vitro fertilization, and other processes used to counter infertility in women and men and bring about fertilization. Causes of infertility among women may range from ovulation disorders and uterine or cervical abnormalities to cancer and endometriosis. Lifestyle factors such as excessive smoking and obesity also play a part in the causation of infertility. The rising prevalence of infertility conditions around the world is set to be the prime driver for the assisted reproductive technology market, as the prevalence of the lifestyle factors contributing to infertility has risen spectacularly over the last few decades.
On the other hand, the risks of assisted reproductive technology and the relatively low chances of success are likely to count against the assisted reproductive technology market over the forecast period. Assisted reproductive treatments are highly expensive, eliminating a large share of the population from availing them, particularly in developing countries. They also carry a risk of premature births and low birth weight in the newborns. The underlying factors responsible for the infertility may also have an effect on the assisted pregnancy, leading to birth defects in the child. Such factors are likely to hold back the assisted reproductive technology market over the forecast period.
Leading players in the global assisted reproductive technology market include Cosmos Biomedical Limited, Bloom IVF Centre, Parallabs, Anecova, Microm Ltd., Cooper Surgical Inc., European Sperm Bank, Hamilton Throne Ltd., Irvine Scientific, Ferring Pharmaceuticals, Merck KGaA, Origio, OvaScience, Cryolab Ltd., and California Cryobank.
The global assisted reproductive technology market is segmented by diagnosis, type, end user, and region.
By diagnosis, the global assisted reproductive technology market is segmented into ovulation testing and hysterosalpingography.
By type, the assisted reproductive technology market is segmented into ovulation induction, artificial insemination, and surrogacy.
By end use, the assisted reproductive technology market is segmented into hospitals & clinics and IVF centers.
On the basis of region, the global assisted reproductive technology market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Europe is expected to remain the leading contributor to the global assisted reproductive technology market over the forecast period due to the relative economic freedom of new mothers in the region, which means they can avail a number of assisted reproductive technologies with ease. The increasing research and innovation in assisted reproductive technologies in Europe is also likely to be a major driver for the assisted reproductive technology market in Europe over the forecast period. The increasing access to infertility treatments in this region is likely to be a major driver for the assisted reproductive technology market in the region.
North America is likely to follow Europe in the global assisted reproductive technology market due to the growing prevalence of infertility in the region. Lifestyle factors contributing to infertility, such as obesity, drinking, and smoking, are highly prevalent among North American men and women, especially in the U.S., leading to a steady growth in the rate of infertility. Obesity, in particular, is rampant among both men and women in North America, leading to a growing prevalence of infertility. This is likely to drive the assisted reproductive technology market in the Americas region over the forecast period.
Asia Pacific is also likely to be a key contributor to the global assisted reproductive technology market over the forecast period due to the growing awareness about fertility treatments. It is expected to emerge as the fastest growing regional market for assisted reproductive technologies over the forecast period.
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