Assisted Reproductive Technology Market size is expected to reach US$ 59.64 Bn. by year 2029 at a CAGR of 9.8% during the forecast period.
Assisted Reproductive Technology Market Overview:
The global Assisted Reproductive Technology (ART) market is poised for significant growth, with a projected market size expected to reach US$ 59.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.8% during the forecast period. ART encompasses a range of medical procedures designed to aid individuals in achieving pregnancy when they face challenges related to infertility. One of the most recognized techniques under this umbrella is in vitro fertilization (IVF), wherein eggs are extracted from the ovaries, fertilized with sperm in a laboratory, and subsequently implanted back into the woman or donated to another individual. The rising prevalence of infertility, advancements in technology, and growing acceptance of reproductive solutions are propelling the ART market's expansion.
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Assisted Reproductive Technology Market Scope:
This report aims to provide a comprehensive analysis of the global ART market, focusing on key dynamics, technological advancements, market segmentation, regional insights, and the impacts of the COVID-19 pandemic. By understanding these facets, stakeholders can make informed decisions and devise strategies to capitalize on growth opportunities within this sector.
Assisted Reproductive Technology Market Drivers:
The ART market is primarily driven by the increasing prevalence of infertility across the globe. According to the Centers for Disease Control and Prevention (CDC), 12.1% of women aged 15 to 44 in the United States experience impaired fecundity, while 6.7% face infertility challenges. As awareness about infertility issues rises, so does the demand for ART procedures.
Additionally, societal changes, such as the rise in the number of single women and same-sex couples seeking family-building options, have contributed to the growing acceptance and usage of ART. Furthermore, technological advancements play a pivotal role in market growth. Innovations such as aseptic vitrification techniques for cryopreservation, as reported by VitriCell SA, signify a shift towards more effective ART solutions.
Assisted Reproductive Technology Market Segmentation:
by Technology
In Vitro-fertilization (IVF)
Artificial Insemination (AI-IUI)
Frozen Embryo Replacement (FER)
Others
by End User
Hospitals
Fertility Clinics
Others
Assisted Reproductive Technology Market Key Players: The key players are
1. California Cryobank
2. Bloom IVF Centre
3. Parallabs
4. OvaScience
5. Anecova
6. Origio
7. Microm Ltd.
8. Merck KGaA
9. Cooper Surgical, Inc
10. Ferring Pharmaceuticals
11. Cosmos Biomedical Limited
12. Cryolab Ltd.
13. European Sperm Bank
14. Irvine Scientific
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Assisted Reproductive Technology Market Regional Analysis:
In terms of regional performance, Europe is anticipated to lead the ART market throughout the forecast period. The region's dominance can be attributed to a rising rate of infertility, heightened public awareness regarding fertility treatments, and substantial government support for reproductive technologies. Many EU countries recognize infertility as a medical condition, ensuring comprehensive policies are in place to support individuals seeking treatment.
Conversely, the Asia Pacific (APAC) region is expected to showcase substantial growth, with a projected CAGR of 11.6%. This growth is driven by increased governmental support for IVF procedures and heightened investments in reproductive technology research across various countries in the region.
COVID-19 Impact Analysis on Assisted Reproductive Technology Market:
The COVID-19 pandemic has significantly impacted the ART market, causing disruptions in non-urgent medical services, including fertility treatments. Initially, many clinics postponed ART procedures due to safety concerns and resource reallocations. However, as the situation has improved and vaccination rates have increased, many fertility clinics are resuming services, adapting protocols to ensure patient safety.
Key Questions Answered in the Assisted Reproductive Technology Market Report are:
- What will be the CAGR of the Assisted Reproductive Technology market during the forecast period?
- Which segment emerged as the leading segment in the Assisted Reproductive Technology market?
- Which are the prominent players in the Assisted Reproductive Technology market?
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