Global Assisted Reproductive Technology Market is expected to grow at a CAGR of 11.62% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Assisted Reproductive Technology Market by Type (In Vitro Fertilization, Preimplantation Genetic Diagnosis, Artificial Insemination, Surrogacy, others), Procedure, End User (Fertility Clinics and Hospitals), Region” and Global Forecast 2018-2025.
As per the report, the global assisted reproductive technology market is expected to grow from USD 23.68 Billion in 2017 to USD 52.13 Billion by 2025 at a CAGR of 11.62% during the forecast period from 2018-2025. Europe market is expected to witness substantial growth over the next decade. This growth is witnessed due rise in infertility rate, rising awareness among people for fertility treatment and technological advancements and government initiatives are key factors for the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Major market players are Bloom IVF Centre, California Cryobank, OvaScience, Parallabs, Irvine Scientific and Hamilton Throne Ltd., Anecova, Origio, Ferring Pharmaceuticals, Merck KGaA, Cooper Surgical, Inc. among others. Technological advancements are creating greater opportunities for the growth of the market and major players are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in 2017, Irvine Scientific, a world leader in cell culture media development and innovation and manufacture of Assisted Reproductive Technologies (ART), introduced Continuous Single Culture -NX, which is a next generation single-step culture medium for embryos.
The type segment is classified into in vitro fertilization (intra-cytoplasmic sperm injection (ICSI), preimplantation genetic diagnosis (PGD)), artificial insemination (intrauterine insemination (IUI)), intracervical insemination (ICI)), and surrogacy. The IVF with ICSI segment is dominating the assisted reproductive technology market with USD 6.67 Billion in 2017. Increase in the chances of successful fertilization, and exceptional technique for treating male infertility are major contributing factors for the growth of the segment. Procedure segment includes frozen donor, frozen non donor, fresh donor, fresh non donor, and embryo banking. This method is less expensive and does not require to go through drug stimulation process and is less invasive. Many reimbursement policies have also favoured this procedure hence, encouraging more people to donate or store their gametes, these are the key factors to drive the demand of the segment. End user segment is divided into fertility clinics and hospitals. Fertility clinics segment is playing a chief role in shaping business growth and held largest market share in 2017. Expanding healthcare infrastructure in emerging countries and presence of specialized services in fertility clinics are driving the growth of the segment.
Increasing number of single women opting for surrogacy and rise in infertility rate conditions are major factor driving the market. Lack of awareness regarding medical condition and procedures may hamper the growth of market. However, rise in awareness programmes in emerging countries is opening new emerging markets, which in turn is expected to boost the growth of the market in coming years.
About the report:
The global assisted reproductive technology market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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