The Worldwide Assisted Reproductive Technology Industry is Expected to Reach $12 + Billion by 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 17, 2021--
The “Assisted Reproductive Technology Market by Product, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
The global assisted reproductive technology market was valued at $2,317.7 million in 2020, and is estimated to reach $12,272.5 million by 2030, growing at a CAGR of 19.3% from 2021 to 2030.
Assisted reproductive technology (ART) is defined as the medical procedure used to address the infertility treatments for handling of eggs and embryo. This technique aims to remove the eggs from a woman’s ovaries and further combine it with sperm in the in-vitro laboratory condition. After fertilization, the egg or embryo is transferred to the uterus of women. It alleviates the burden of infertility on a family and individual. In-vitro technology is one of the most common and advanced procedures, which are used for the infertility treatment. The ART includes gamete intrafallopian transfer (GIFT), frozen embryo transfer (FET), zygote intrafallopian transfer and in vitro fertilization-embryo transfer.
The global assisted reproductive technology market is majorly driven by an alarming increase in the prevalence of polycystic ovary syndrome, rise in disposable income, surge in demand for in vitro-fertilization, advancement in the technology for novel ART, and a rise in awareness about IVF and surrogacy. According to Office on Women’s Health (OWH), in 2019, it was reported that 1 in 10 women of childbearing age are diagnosed with PCOS, in the U.S. According to Center for Disease control and Prevention (CDC), it was reported that 6% to 12% of the U.S. women of reproductive age, having PCOS, were also diagnosed with infertility.
PCOS is one of the most common causes of female infertility, which surge the demand for assisted reproductive technology and drive the growth of the market. The rise in disposable income has assisted reproductive technology and drives the growth of the market. Furthermore, in February 2021, TMRW Life Sciences, announced the launch of the world’s first automated Cryo specimen management solution for eggs and embryo, which are used in the IVF procedure. The TMRW platform is introduced in various fertility clinics in the U.S. launching the software enables management of the million embryos and eggs central to modern IVF.
Increase in incidence of infertility cases and the surge in sedentary lifestyle are the major factors that drive the global assisted reproductive technology market. Moreover, the increase in prevalence of obesity significantly contributes toward the market growth, owing to obese person being more prone to infertility and uterine disorder. Rise in demand for in-vitro fertilization for effective treatment, and high success rate acts a key driving force of the global market.
Furthermore, governments are taking multiple initiatives to support healthcare information systems for development of advanced ART, which is expected to boost the market growth. As per a study by the American Society for reproductive medicines, it was reported that approximately 40% of infertile couple, the male partner is responsible for infertility and among them 85% to 90% are treated with surgery. In addition, technological advancements in assisted reproductive technology, and growth in number of fertility clinic are anticipated to provide lucrative opportunities for the market expansion. The rise in awareness regarding cost-effective treatment of infertility and spread of knowledge about the success rate of IVF procedure propels the growth of the market.
On the contrary, risk associated after IVF procedure and high cost of assisted reproductive technology are anticipated to hinder the market growth during the forecast period. The rise in number of fertility clinic and development of IVD devices leads to the enhancement of the assisted reproductive technology sector. This encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the assisted reproductive technology market.
- The report provides an in-depth analysis of the global assisted reproductive technology market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global assisted reproductive technology market.
- Increase in prevalence of infertility rate
- Technological advancements in assisted reproductive technology
- Growth in disposable income and rise in awareness regarding infertility treatment
- High cost of ART procedure
- Risk associated with IVF treatment
- Growing opportunities in emerging market and rise in fertility tourism
- Cook Medical Inc.
- Fujifilm Holdings Corporation (Irvine Scientific Sales Company Inc.)
- Genea Biomedx
- Merck KGaA (EMD Serono Inc.)
- Millendo Therapeutics Inc.
- Oxford Gene Technology
- Progyny Inc.
- The Cooper Companies Inc. (CooperSurgical Inc.)
- Thermo Fisher Scientific, Inc.,
- Vitrolife AB
For more information about this report visit https://www.researchandmarkets.com/r/uywdru
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PUB: 11/17/2021 11:59 AM/DISC: 11/17/2021 11:59 AM