The Assisted Reproductive Technology (ART) Market plays a pivotal role in addressing infertility by offering a range of advanced medical techniques designed to facilitate conception. This market encompasses in vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), and various other procedures that assist in fertilization outside the human body. Key components include fertility drugs, sperm and egg retrieval procedures, embryo culture, and implantation techniques. The market is driven by the increasing prevalence of infertility, changing lifestyles, and advancements in reproductive medicine.
Major drivers of the Assisted Reproductive Technology Market include growing awareness, expanding acceptance of non-traditional family structures, and improvements in success rates through technological innovations. The integration of technologies such as pre-implantation genetic testing and cryopreservation has significantly enhanced the efficiency and outcomes of ART procedures.
Challenges involve the high cost of ART procedures, ethical considerations, and varying regulations across regions. Geographically, North America and Europe lead in market share due to well-established healthcare infrastructures, while Asia-Pacific is experiencing rapid growth with a rising demand for fertility treatments. As the Assisted Reproductive Technology Market continues to evolve, it remains a cornerstone in addressing the complexities of infertility and providing hope to individuals and couples seeking to build their families.
Assisted reproductive technology (ART) market is gaining precedence owing to its ability to cure women having infertility issues. The assisted reproductive technology industry includes fertility medication, in vitro fertilization and surrogacy. The global assisted reproductive technology market can experience a 9.8% CAGR during the forecast period (2023-2032), reveals Market Research Future (MRFR) in a report that covers drivers of the said market and segments in detail. Infertility cases are on the rise, that too, at an alarming rate. This has been triggered by a sedentary lifestyle, obesity, ovulation disorder, unhealthy diet, increasing intake of tobacco & alcohol, and chronic diseases.
However, lower success rate, high cost, chances of birth defects, and side effects associated with hysterectomy procedures are some issues that can pose hurdles to stop the regular market growth during the forecast period.
Competitive Landscape:
Some of the key players in the global assisted reproductive technology market companies are Anecova, Origio, California Cryobank, Cosmos Biomedical Limited, Cryolab Ltd., Parallabs, OvaScience, Microm Ltd., Merck KGaA, Cooper Surgical, Inc, Bloom IVF Centre, Ferring Pharmaceuticals, European Sperm Bank, Irvine Scientific and Hamilton Throne Ltd.
Segmentation:
The global assisted reproductive technology (ART) market can be segmented by diagnosis, type, end-user.
By diagnosis, the assisted reproductive technology market can be segmented into ovulation testing, hysterosalpingography, ovarian reserve testing, genetic testing, other hormone testing, and imaging tests.
Based on type, the assisted reproductive technology market includes Ovulation Induction (OI), Artificial Insemination (AI), Donor Conception, In-Vitro Fertilization (IVF), Gamete Intrafallopian Transfer (GIFT), Intracytoplasmic Sperm Injection (ICSI), Preimplantation Genetic Diagnosis (PGD) and Surrogacy.
Based on end-user, the assisted reproductive technology market can be segmented into hospitals and clinics, ambulatory surgical centers, diagnostic centers, gynecology centers, feminist health centers, and IVF centers and others.
Regional Analysis:
Region-specific analysis of the assisted reproductive technology market includes Europe, the Americas, Asia Pacific (APAC), and Middle East & Africa (MEA).
Europe, at present, is dominating the market as the region is gaining substantially from increasing innovations in clinical practice and access to fertility treatment in this region. Infrastructural standard related to the healthcare sector can also be touted as influencers.
The Americas is assuming the second spot, and the market scenario is going to remain the same during the forecast period. Increasing cases of cancer can be seen as a potential market booster. The APAC market is projected to become the fastest growing segment during the forecast period. Rising cases of, obesity and diabetes can be taken into consideration while judging the parameters of the regional growth. The MEA market is expected to generate the least amount of share owing to stringent government policies and low per capita income.
Market Insight:
Merger, acquisition, collaboration, partnership, and other methods are some tactical moves that the companies employ to sustain and grow. This, as a consequence, also helps the market in its growth. For instance, California Cryobank and Cord Blood Registry have entered into a definitive agreement that will work as a new entity under California Cryobank Life Sciences platform to bring in the best of domestic and international opportunities for expansion and better the research & development sector of donor reproductive tissue and newborn stem cell industries.
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