Global Assisted Reproductive Technology Market To Value Over $ 46 Billion BY 2029 End

  • 26 Jul 2019
  • Healthcare

Global Assisted Reproductive Technology Market to value over USD 46 billion by 2029 end and register a CAGR of over 9.5% from 2019 to 2029.

An increasing number of cases of infertility across the world will stimulate global assisted reproductive technology (ART) market over the forthcoming years. In accordance with the International Journal of Reproduction, about 15% of couples worldwide suffer from infertility accounting for 60-80 million couples facing the issue annually. Ageing along with several risk factors such as smoking, drugs, and alcohol abuse will considerably increase the incidence rate of infertility over the coming years, which should accelerate demand for assisted reproductive technology.

Rising awareness about assisted reproductive technology will positively impact ART market growth in upcoming years. Growing initiatives and implementation of programs for awareness about infertility and its treatment across emerging countries such as India and South Africa will pose a high impacting factor for ART market growth over the forecast period. For instance, ASPIRE, the Asia Pacific Initiative on Reproduction, works for raising awareness about ART throughout the region. Such initiatives coupled with rising infertility across the region will escalate the adoption rate of ART in the projected period.

However, the high cost of ART procedure is estimated to be negatively impacting factor for assisted reproductive industry growth. In addition, the presence of social and ethical concerns in several emerging countries can hinder the adoption of ART in the forthcoming period.

According to the WHO, the fertility rate per woman has reduced from 5 in 1960 to 2.5 in 2012. Such a decline in fertility rates has given rise to rapid growth in demand for ART procedures. Growing stress levels is also identified as a key driving factor for the industry.

Technological advancements are one of the contributing factors for the market growth. In 2018, VitriCell SA announced the closure of USD 1.2 million. These funds are expected to enable the company to introduce products based on aseptic vitrification (new cell cryopreservation technique). This is expected to have a positive impact on the ART market in the coming years.

Market Segmentation:

1. By Procedure

●     Fresh donor

●     Fresh Non-donor

●     Frozen Donor

●     Frozen Nondonor

●     Embryo/Egg Banking

2. By Technology 

●     In-vitro fertilization (IVF)

●     Artificial Insemination - Intrauterine Insemination (AI-IUI) 

●     Frozen Embryo Replacement (FER)

●     Others 

3. By End-use

●     Hospitals

●     Fertility clinics

●     Others

4. By Region

●     North America 

●     Europe

●     Asia Pacific

●     Latin America

●     MEA

Europe dominated the market due to the rise in infertility rate, rising awareness among people for fertility treatment, technological advancements and government initiatives. In 2014, CDC developed a national public health action plan for detection, improved efficacy of safe treatment, and prevention of infertility. The Barcelona summit suggested the establishment of an expert group to solve demographic issues, increase the childcare facilities and acceptance of parent IVF procedure for clinical trials.

Competitive Landscape:

●      Tier 1 players- established companies in the market with a major market share

●      Tier 2 players

●      Emerging players which are growing rapidly

●      New Entrants

Company Present in the market

●     Thermo Fisher Scientific, Inc.

●     Genea Limited

●     Cook Medical

●     Nidacon International AB

●     OvaScience Inc.

●     Vitro Life

●     Cooper Surgical Inc.

●     Merck

●     IVFtech ApS

●     Irvine scientific

●     Hamilton Thorne 

FutureWise Takeaways

●     Growth prospects

●     SWOT analysis

●     Key trends

●     Key data points affecting market growth

Objectives of the Study:

●     To provide an exhaustive analysis on the global assisted reproductive technology market by procedure, by technology, and by region

●     To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

●     To evaluate and forecast micro-markets and the overall market

●     To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world

●     To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

●     Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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