Rising awareness for infertility treatment will boost the sperm bank market, forecast to touch US$ 5.8 Billion by 2025 at a CAGR of 3.5%
Noida, Uttar Pradesh, India, February 23 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Global Sperm bank Market is estimated to see healthy growth, pegged at a CAGR of ~3.5% during the forecast period 2020-2025. Innovations in cryopreservation techniques, rising awareness, the emergence of fertility tourism, and increasing access to infertility treatment are the key factors driving the growth. An increase in the risk of miscarriages is also among few key factors boosting the demand.
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The rising prevalence of obesity globally is also one of the critical drivers for market growth. It is observed that obesity is one of the known risk factors for infertility among women and low sperm count in men, which increases the fertility issues of men and women are opting for artificial insemination techniques. Thus, the rising infertility risk due to obesity is expected to boost fertility treatments, such as In-vitro Fertilization (IVF), thereby driving the market growth.
Rising male infertility concerns due to abnormal and inadequate sperm volume and ejaculatory issues are projected to drive sperm bank services further. According to the American Association of Pregnancy (APA), male infertility accounts for over 30% of infertility cases, around one-fifth of all infertility cases. Besides genetic problems, male infertility is also caused due to illicit drugs, exposure to toxic substances, frequent alcohol consumption, and smoking. Thus, the growing prevalence of male and female infertility worldwide is propelling infertility services, such as donor insemination and IVF procedures, thereby boosting the market growth.
The rise in funding and supportive government initiatives across various countries is anticipated to boost fertility treatments’ adoption, thereby driving the sperm banks to demand. The Singapore government offers about 75% co-funding for various Assisted Reproductive Technology (ART) procedures, such as In vitro fertilization (IVF), Intracytoplasmic Sperm Injection (ICSI), and Gamete Intrafallopian Transfer (GIFT). In December 2015, the Ontario government declared a USD 50 million fertility program that funds one IVF cycle and unlimited artificial insemination and intrauterine insemination treatments. Also, the National Health Service (NHS) funds infertility treatment across the UK.
Moreover, the market is expected to observe lucrative growth opportunities owing to the growing acceptance of same-sex societies or single-parent families. The growing acceptance of the Lesbian, Gay, Bisexual, and Transgender (LGBT) community is one-factor driving sperm donations across the globe. In June 2018, IVF treatment for lesbian couples and single women was made accessible in Malta, after Marie Louise Coleiro Preca, Maltese President, signed Embryo Protection (Amendment).
California Cryobank, Cryos International, Fairfax Cryobank, European Sperm Bank, Androcryos, and Xytex Sperm Bank, Fairfax Cryobank, Inc., Xytex Corporation, Andocryos, Cryo-Save AG, Indian Spermtech, New England Cryogenic Center, Seattle Sperm Bank, and London Sperm Bank, among others, are some significant players included in the research study of the global sperm bank market.
Segmentation Overview of the Global Sperm bank Market
The sperm bank market is segmented based on Device Type, Diameter Size, and Material. These major market segments are further categorized into various sub-segments to study the market in detail.
By Donor Type Outlook (Known Donor, Anonymous Donor)
By Services Type Outlook (Sperm Storage, Semen Analysis, Genetic Consultation)
By End Use Outlook (Donor Insemination, In vitro Fertilization)
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