Assistive Reproductive Technology Market Value to Worth Over US$ 37.6 Bn at 5.3% CAGR Growth Rate | Key Companies: Merck KGaA, Nidacon International AB, Vitrolife AB, EMD Serono, Inc., INVO Bioscience, IVFtech ApS, Gonagen Medikal
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Global Assistive Reproductive Technology Market, by Product Type (Consumables and Instruments), by Technology (In-vitro fertilization (IVF) (IVF with Intracytoplasmic Sperm Injection (ICSI) and IVF without Intracytoplasmic Sperm Injection (ICSI), Artificial Insemination-Intrauterine Insemination (AI-IUI), Frozen Embryo Replacement (FER), and Others), by Procedure (Fresh Donor, Frozen Donor, Fresh Nondonor, Frozen Nondonor, Embryo/Egg Banking, and Others), by End User (Fertility Clinics, IVF Center, and Hospital), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 23.6 Bn in 2018 and is projected to exhibit a CAGR of 5.3% over the forecast period (2019–2027), as highlighted in a new report published by Coherent Market Insights.
Frequent product launches and approvals are expected to drive growth of the global assistive reproductive technology market over the forecast period
Manufacturers are engaged in new product launches and expanding their offerings of ART. For instance, in August 2017, Hamilton Thorne Ltd., a provider of precision instruments, consumables, software and services, launched TrakJector, a micromanipulator system which offers unique and intuitive control over fast and accurate Intracytoplasmic sperm injection (ICSI) and embryo biopsy procedures in ART laboratories.
In October 2017, Hamilton Thorne Ltd., a worldwide provider of assisted reproductive technologies (ART), announced the expansion of range of products for its ART market, on a direct sales basis in North America. The range of products include Gynemed Glass Micropipettes, Micromanipulation System, Hamilton Thorne DuraSlides, Halosperm DNA Fragmentation Kits, and others.
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In July 2018, Merck KGaA, a science and technology company, announced the launch of QBOX IVF, which streamlines data transfer between lab instruments and electronic medical record (EMR) providers. In the same year and month, it also launched the new Geri Assess 2.0. It enables automatic detection of key events in embryo and blastocyst development, improves efficiency in embryo assessment, and these two products are used in IVF and ART clinics.
Moreover, in October 2016, EMD Serono, the biopharmaceutical business of Merck KGaA, announced the launch of New Fertility Technologies Division, at the 72nd American Society for Reproductive Medicine (ASRM) Scientific Congress.
Rising prevalence and incidence of infertility is expected to fuel growth of the global assistive reproductive technology market growth over the forecast period
The number of ART clinics is increasing due to rising prevalence and incidence of infertility rates, which is expected to drive growth of the market. For instance, according to National Centers for Chronic Disease Prevention and Health Promotion, there are total 499 ART clinics in the U.S., among which 464 clinics had reported the data (related to ART procedures) to CDC, which states that overall, 231,936 number of ART cycles were performed by 464 clinics in the U.S in 2015.
Major players in the market are focusing on adopting strategies such as acquisitions, in order to expand their product portfolio. For instance, in April 2018, Cooper Surgical Inc. acquired LifeGlobal Group and its affiliates, a global provider of in-vitro fertilization (IVF) devices. This acquisition is expected to strengthen Cooper Surgical’s fertility media offerings and help improve their fertility business.
In February 2016, Cooper Surgical Inc. acquired The Pipette Company (TPC), a manufacturer and distributor of micropipettes in the ART market, based in Adelaide, Australia.
Browse 37 Market Data Tables, and 25 Figures spread through 170 Pages and in-depth TOC on Global Assistive Reproductive Technology Market, by Product Type (Consumables and Instruments), by Technology (In-vitro fertilization (IVF) (IVF with Intracytoplasmic Sperm Injection (ICSI) and IVF without Intracytoplasmic Sperm Injection (ICSI), Artificial Insemination-Intrauterine Insemination (AI-IUI), Frozen Embryo Replacement (FER), and Others), by Procedure (Fresh Donor, Frozen Donor, Fresh Nondonor, Frozen Nondonor, Embryo/Egg Banking, and Others), by End User (Fertility Clinics, IVF Center, and Hospital), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027
To know the latest trends and insights prevalent in the global assistive reproductive technology market press release, click the link below: https://www.coherentmarketinsights.com/press-release/assistive-reproductive-technology-market-to-surpass-us-376-bn-by-2027-2496
Key Takeaways of the Global Assistive Reproductive Technology Market:
- The global assistive reproductive technology market is expected to exhibit a CAGR of 5.3% over the forecast period (2019–2027). This is attributed to frequent launches and approvals of assistive reproductive technology products.
- Among region, North America is expected to hold dominant position in the global assistive reproductive technology market due to rising ART centers and increasing awareness about ART among the populace
- Asia Pacific and Europe are expected to be potential markets, owing to rising infertility rates among people aged 35-40 and rising awareness of IVF procedures and ART technologies in these regions
- Some of the key players operating in the global assistive reproductive technology market include Cooper Surgical Inc., Hamilton Thorne, Inc., FUJIFILM Irvine Scientific, Inc., Merck KGaA, Nidacon International AB, Vitrolife AB, EMD Serono, Inc., INVO Bioscience, IVFtech ApS, Gonagen Medikal, Cook Medical LLC, and CellCura ASA.
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