Global Assisted Reproductive Technology Market. Image from blog.vitrolife.com
Global Assisted Reproductive Technology Market Worth USD 41.45 Billion, Exhibiting a CAGR of 6.25%.
NEW YORK, Aug. 12, 2022 – As per Zion Market Research study, 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 with a compound annual growth rate (CAGR) of roughly 6.25% between 2022 and 2028.
Assisted reproductive technology (ART) is used to treat medical conditions related to infertility. As per definition by the World Health Organization (WHO) infertility is a disease of the female or male reproductive system causing failure in achieving pregnancy even after 12 months or more of regular unprotected sex. In male reproductive systems, infertility can be caused by issues in sperm ejection, abnormal shape or movement of sperm, and absence or low sperm count. In female reproductive systems, infertility can be related to a variety of abnormalities concerning the ovary, uterus, endocrine system, and fallopian tubes to name a few. Infertility can be either primary or secondary. Primary infertility is when a person has never been pregnant in the entire lifetime, second infertility is when at least one pregnancy has been achieved previously. Assisted reproductive technology deals with treating the conditions related to infertility by working on both sperm and eggs. The process involves removing eggs and sperm separately and then mixing them together outside the human body to create embryos. With the help of technology, once the embryo is developed and functional, it is put back in the human body willing to carry it till the end-term of the pregnancy.
The global assisted reproductive technology market is anticipated to be driven by the rising number of infertility cases across the globe. As per statistics from WHO, over 48 million coupled, and over 186 million people suffer from infertility issues. The global male infertility market is expected to grow at a CAGR of 4.9% by 2030. These rising numbers can be attributed to multiple factors. For example, in the case of female reproductive systems, there is a chance of blocked fallopian tubes and uterine disorders that are either inflammatory, congenial, or benign in nature. Ovary disorders like polycystic ovarian syndrome are an extremely common type of fertility-related concern among the women population. In the case of male reproductive systems, hormonal disorders, abnormal sperm quality of functionality, reproductive tract obstruction, failure of testicles to produce sperm, along with other reasons can cause infertility. Since there is a lot of permutation & combination involved in concluding the final reason why a person is unable to conceive, the global market is expected to be rising owing to the number of years it takes in some cases, to resolve these issues.
Assisted reproductive technology is extremely expensive rendering it unaffordable for lower-income groups. In several cases, couples or people have had to undergo multiple tests, appointments, procedures, medicines, etc., and even still the technology has failed to give positive results. Once the procedure fails, the person, after taking a few months off, has to repeat the process if they wish to try again which may not be feasible for many. The slim chances or odds of assisted reproductive technology providing the desired results at the first go may restrict the global market growth.
Since the complications related to infertility have taken a huge jump, the healthcare sector has managed to modify its ways of dealing with the issue. With the adoption of technologies like artificial intelligence and machine learning, it has become easier to detect even exceptional cases of infertility and find the root cause. Until some years ago, the global assisted reproductive technology market lacked the necessary advanced technology to study the small changes of abnormalities in human reproductive systems which has been taken care of by the adoption of better technical systems which may provide global market growth opportunities.
In many cases, the success rate of assisted reproductive technology is now as high as individuals undergoing the medical treatment would expect. The failure of the treatment has emotional and financial implications for the parties involved in the process. In vitro fertilization (IVF) is known to be psychologically and emotionally stressful because of the heavy medications involved in the process and their effects on the body resulting in challenging situations for global market growth.
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 technology, the global market is divided into the instrument, accessory & disposable, and reagent & media. Accessory & 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 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 USD 25,00 million in the next five years.
| Report Attribute | Details |
| Market size value in 2021 | USD 20 Billion |
| Revenue forecast in 2028 | USD 41.45 Billion |
| Growth Rate | CAGR of almost 6.25 % 2022-2028 |
| Base Year | 2020 |
| Historic Years | 2016 – 2021 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | By Product Type, By Application, And By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Companies Covered | 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. |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail of customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/2698 |
The global assisted reproductive technology market is anticipated to be dominated by North America during the next few years owing to the higher adoption rate of ART driven by the presence of high-income groups that can afford the treatment procedure. The regional growth may also be attributed to the high number of medical institutes offering ART-based services. As per the Centers for Disease Control and Prevention (CDC), more than 4 million births in the USA are with the help of IVF every year. The government’s role in taking initiatives toward eliminating the stigma or hesitancy around ART like creating mass awareness with the help of advertisements and policies is expected to propel regional growth.
Europe is also anticipated to grow significantly during the projection period because of various schemes through which public institutes and private companies encourage couples or individuals seeking assisted reproductive technology. The high adoption of advanced technology for ART-related processes may also assist regional growth trends.
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