The global assisted reproductive technology market size was worth around USD 20 billion in 2021 and is predicted to grow to around USD 41.45 billion by 2028

NEW YORK, UNITED STATES, January 5, 2023 /EINPresswire.com/ -- The report analyzes the global assisted reproductive technology market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the assisted reproductive technology market. The global assisted reproductive technology market is driven by players like Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Oxford Gene Technology, Cook Medical Inc., Genea Biomedx, Millendo Therapeutics, Inc., Merck KGaA (EMD Serono, Inc.), The Cooper Companies, Inc. (CooperSurgical, Inc.), Progyny Inc., Vitrolife AB, and Thermo Fisher Scientific, Inc. The high cost of assisted reproductive technology may restrict the global market growth. The advancements in technology are expected to provide global market growth opportunities. Low success rate and emotional quotient may challenge the global market expansion.

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Recent Developments:

►In June 2022, Apollo Fertility announced the launch of its 17th IVF facility in Delhi, India. The treatment facility is one of the largest standalone fertility centers equipped with state-of-the-art facilities in Delhi. The unit houses laminar air-flow and 100O OT to provide high-quality air for stored embryos.

►In February 2021, TMRW Life Sciences announced the launch of the first automated cryo specimen management solution which is first-of-its-kind across the globe. The solution is meant for embryos and eggs that are used during IVF. The solution is installed across various premium-grade facilities in the USA. With this, the company has managed to take a step toward digital management of embryos and eggs

►In August 2020, CARE fertility, a Silverfleet portfolio company, completed its third acquisition of Nuffield Health’s Woking Assisted Conception Service (ACS). CARE fertility is one of the UK’s most dominating fertility treatment providers and with the acquisition, the company managed to expand its footprint across the Home Counties area.

►In September 2019, Monash IVF Group Ltd. acquired Fertility Solutions based in Queensland for a value of A$2.1 million. With this move, the company expanded its global reach along with the addition of two clinics in the area.

The global assisted reproductive technology market is segmented based on product, technology, end-user, and region.

►Based on technology, the global market is divided into the instrument, accessory & disposable, and reagent & media. Accessory and disposable are highly used in the global market because of the various tests that have to be conducted during the entire process. IVF devices and consumables market may grow at a CAGR of 19.72% by 2030

►Based on technology, the global market segments are in vitro-fertilization (IVF), artificial insemination, and others. IVF leads the global market segment. Since the introduction of the technology, over 1.9% of babies in the USA are born through IVF and other ART. Even though artificial insemination is less painful and costs less money than IVF, it may not be enough for a healthy pregnancy and may need other measures for the desired outcome.

►Based on end-users, the global market is divided into fertility clinics, hospitals, surgical centers, and clinical research institutes. Fertility clinics lead the segmental growth since they specialize in treating infertility. The fertility clinics market is expected to generate a revenue of around USF 25,00 million in the next five years

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Global Assisted Reproductive Technology Market: Overview

Assisted reproductive technology (ART) involves medical treatments related to infertility. The process includes treatment measures like intracytoplasmic sperm injection (ICSI), in vitro-fertilization (IVF), cryopreservation of embryos or eggs, and the use of fertility medication. ART is the segment of reproductive endocrinology and infertility. ART is used amongst couples who wish to reproduce but are unable to do so, or in the case of surrogacy, however, not all surrogacy needs to encompass ART. Even though the technique is widely used to achieve a healthy pregnancy, there are some studies suggesting that babies born through IVF have an increased risk of birth defects. Some of the issues may include placental insufficiency, low birth weight, preterm deliveries, chromosomal disorders, and others. However, most babies born with the help of assisted reproductive technology do not exhibit any kind of birth defects and the procedure is gaining high momentum amongst aspiring parents. Each country has its regulations surrounding ART, IVF, and surrogacy, and fertility centers or hospitals must adhere to the rules. For example, In July 2020, the French parliament allowed ART for lesbian couples. In many countries IVF and ART treatments are covered under insurance, however, a large section of the population does not have these treatments covered by insurers. In Cuba, ART procedures are completely free of cost and legal.

Since there are still a lot of stigmas associated with ART, there are extreme initiatives undertaken by international and domestic institutes to generate higher awareness about the procedure and its viability. The World Health Organization (WHO) has committed to improving the quality and quantity of ART services across the globe by collaborating with international partners to aid research activities, and support data generation related to infertility, along with other measures. Covid-19 had a significant negative impact on the global market owing to the closure of multiple fertility clinics, and reduced access to accessory or disposables needed for ART procedures as the majority of healthcare-related equipment were diverted toward the treatment of Covid-19 patients.

The global assisted reproductive technology market is expected to be propelled by the rising number of fertility clinics or hospitals across the globe. Earlier, even when the infertility rate was high, there was a lack of sufficient medical care providers which resulted in a large segment of the market being left out. However, the growing awareness about the medical condition and the willingness to undergo medical treatment has helped in encouraging medical professionals to open multiple units providing ART services that are equipped with extremely advanced medical devices catering to the rarest of cases. The Indian IVF services market is valued at around USD 793 million in 2020 and may reach more than USD 3,722 million by the end of 2030. Such intense growth is a result of an increase in the number of patients seeking medical help while at the same time, significant growth in the number of medical care providers.

North America is expected to generate the highest revenues in the global assisted reproductive technology market majorly driven by the high number of couples and individuals seeking ART. The regional growth is also propelled by the presence of a significant number of healthcare providers offering services at effective packages. In 2019, more than 489 clinics were known to have conducted ART as per data submitted by the Centers for Disease Control and Prevention (CDC). However, the region may grow exponentially if there are more insurers or better schemes to cover IVF-related costs.

Europe is anticipated to register a significant CAGR as a consequence of the adoption of better technologies to deal with medical conditions. Health care infrastructure of regions like the UK, Germany, France, and Denmark that are pro-quality and cost-effective health systems are expected to contribute significantly toward regional growth

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Varsharani Lavate
Zion Market Research
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