Assisted Reproductive Technology Market Overview:
The Assisted Reproductive Technology (ART) market, which includes techniques such as in vitro fertilization (IVF), is a rapidly growing field aimed at addressing infertility. ART involves surgically extracting eggs from the female ovaries, fertilizing them with sperm in a laboratory setting, and then implanting the resulting embryos either back into the female’s uterus or that of a surrogate. The demand for ART has been steadily increasing due to rising infertility rates globally, driven by various factors such as lifestyle changes, delayed childbearing, and health issues. The market size is expected to reach an impressive US$ 59.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.8% during the forecast period.
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Report Scope:
This report provides a comprehensive analysis of the Assisted Reproductive Technology market, focusing on market dynamics, segmentation, regional insights, and the impact of the COVID-19 pandemic. It aims to offer a detailed understanding of the market's current trends, future growth opportunities, and potential challenges. The report covers key players in the market, recent technological advancements, and emerging trends that are likely to shape the future of ART. The scope of the report includes an analysis of the market size, growth potential, and competitive landscape across different regions, including North America, Europe, Asia-Pacific, and the rest of the world.
Drivers:
Several factors are driving the growth of the Assisted Reproductive Technology market. One of the primary drivers is the increasing prevalence of infertility issues worldwide. According to the Centers for Disease Control and Prevention (CDC), around 12.1% of women aged 15 to 44 in the United States suffer from impaired fecundity, while 6.7% of women in the same age group are infertile. This rising incidence of infertility is fueling the demand for ART services.
Additionally, societal changes, such as the growing number of single women and same-sex couples seeking to become parents, have also contributed to the increasing demand for ART. The increasing awareness of IVF and surrogacy as viable options for overcoming infertility has further propelled market growth. Technological advancements in ART, such as the development of aseptic vitrification-based products, are also playing a crucial role in expanding the market. For instance, VitriCell SA secured a USD 1.2 million loan in January 2018 to support the launch of new cryopreservation techniques, which are expected to have a positive impact on the ART market.
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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
Segmentation:
by Technology
In Vitro-fertilization (IVF)
Artificial Insemination (AI-IUI)
Frozen Embryo Replacement (FER)
Others
by End User
Hospitals
Fertility Clinics
Others
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Regional Analysis:
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North America: The region leads the global ART market due to the high prevalence of infertility, favorable healthcare policies, and the presence of advanced medical infrastructure. The United States, in particular, is a key market for ART services, with a growing number of fertility clinics and increasing awareness about reproductive health.
-
Europe: Europe is another prominent market for ART, with countries like the UK, Germany, and France offering a wide range of fertility treatments. The region's supportive regulatory framework and increasing acceptance of ART among the population contribute to its market growth.
-
Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth rate during the forecast period. Factors such as rising infertility rates, increasing medical tourism, and growing awareness about ART procedures are driving the market in countries like India, China, and Japan.
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Rest of the World: Other regions, including Latin America, the Middle East, and Africa, are also witnessing growth in the ART market, driven by improving healthcare infrastructure and increasing demand for fertility treatments.
COVID-19 Impact Analysis:
The COVID-19 pandemic had a significant impact on the Assisted Reproductive Technology market. The outbreak led to the temporary suspension of non-essential medical procedures, including fertility treatments, as healthcare systems focused on managing the pandemic. Many fertility clinics faced challenges in continuing operations due to lockdowns, travel restrictions, and safety concerns. As a result, there was a decline in the number of ART procedures performed during the pandemic.
However, as the situation improved and healthcare services resumed, the demand for ART services began to recover. The pandemic also highlighted the importance of reproductive health, leading to increased awareness and interest in fertility treatments. As a result, the ART market is expected to rebound and continue its growth trajectory in the coming years.
Key Questions Answered:
- 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?
- Who are the prominent players in the Assisted Reproductive Technology market?
- What will be the Assisted Reproductive Technology market size by 2027?
- Which company held the largest share in the Assisted Reproductive Technology market?
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