Global Market For Assisted Reproductive Technology Market To Generate Lucrative Revenue Prospects For Manufacturers : FactMR
In-vitro fertilization (IVF) technology would account for an unrivalled patient base, as compared to surrogacy and artificial insemination, on the back of the high success rate of the procedure. The introduction of preimplantation genetic diagnosis (PGD) technology helps medical professionals screen embryos for inherited diseases, which further improves the prospects of conceiving a healthy child.
Conditions such as PCOD/PCOS are found to worsen the reproductive performance of women, which leads to remote chances of conceivability, thereby encouraging women to undergo infertility treatment using assisted reproductive technology. Based on these relevant insights, authors of an exclusive Fact.MR study estimate a CAGR of around 6.3% for the expansion of the assisted reproductive technology market during the forecast period (2020-2025).
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Key Highlights of Assisted Reproductive Technology Market Study
- High costs associated with quality IVF and IUI procedures are gradually propelling a shift of patients from assisted reproductive technology towards naturopathic solutions and alternative therapies to treat infertility, which is posing as a threat to developmental efforts of market players.
- Increasing number of dual working households with a career-intensive approach, in turn, continues to increase reproductive complexity, which is taken into account by major corporates. Efforts have been made by major companies, such as Google LLC, towards creating a conducive environment for female employees by offering facilities to store their eggs, thereby stimulating growth of the assisted reproductive technology market.
- Initiatives taken by numerous public and private institutions such as ASPIRE are projected to raise awareness and increase the adoption of assisted reproductive technology in Asia Pacific. Public awareness campaigns are also being witnessed in the U.S. by central authorities such as the Society for Assisted Reproductive Technology and National Infertility Association, which is reflecting on the growing patient base for infertility treatment.
- Cost benefits of artificial reproductive techniques in developing countries of Asia Pacific are attracting reproductive care seekers from across the world. The study finds that, a complete package of surrogacy costs merely one-third of that in the U.K., which is strengthening the position of Asia Pacific as a key surrogacy destination.
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A subject matter expert at Fact.MR opines, “Currently, Europe, North America, Latin America, and a handful of countries in Asia Pacific and the Middle East & Africa have regulations protecting the legal rights of the homosexual populace. However, homosexually-close relationships are progressively gaining acceptance in other countries too, which is indicative of the high demand for assisted reproductive technology in future.”
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Cost-effectiveness of Alternative Medicines to Remain Pertinent Threat for Players
Numerous threats and challenges with varying influence are encountered by players in the assisted reproductive technology market, including threats of cost-effective alternative therapies and choice of child adoption. Though entry barriers in the assisted reproductive technology are high, on the back of huge CAPEX and OPEX requirements, intense development activities undertaken by existing players are influential enough to turn the landscape fragmented.
For instance, a key player—Nidacon International AB—focuses on product innovation in the sperm diagnostic segment, and, in turn, extends efforts towards upgrading its existing product lines. Collaborations and alliances among leading players are also projected to foster improvements in fertility techniques, thereby leading to advancements in assisted reproductive technology.
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