Rising fertility related awareness levels, presence of favorable government support for in-vitro fertilization, prevalence of high infertility rates, reimbursement policies have also encouraged more people to donate or store their gametes, introduction of online portals, growing stress levels increasing the patient base growing acceptance of same-sex marriages and emerging rate of IVF clinics are boosting the ART market. Moreover, companies such as Apple and Facebook have started offering perks to women employees to store their sperms to decrease attrition rates. This would enable career-oriented women to maintain work-life balance.
Global Assisted Reproductive Technology Market 2024
According to Goldstein Research, Assisted Reproductive Technology market size is set to reach USD 20 billion by 2024, at a CAGR of 6.5% over the forecast years owing to increasing prevalence of infertility cases triggered by a growing base of lifestyle induced disorders such as obesity and stress.
On the basis of treatment, IVF has the considerable amount of share in global assisted reproductive market as it is used by more patients than any of the other ART’s on the market today. ICSI is most commonly used for couples with serious problems with the man’s sperm.
Geographically, North America dominates the Assisted Reproductive Technology market and is anticipated to reach the valuation of USD 8.1 billion by 2024. Due to the social and cultural factors attached to motherhood in Nigeria, women go through various health-seeking or fertility-seeking modes due to internal and external pressures therefore require more awareness about the ART in order to seek permanent cure of infertility.
Infertility Disease Burden in India
22 to 33 million couples in India which falls in reproductive age are suffering from lifetime infertility that leads to infertility burden among Indian population. Female factor accounts for 40%-50% of infertility among infertile couples, while male factor, which is on the rise in India, accounts for 30%-40%. Total fertility rate (TFR), the average number of children that would be born to a woman if she experiences the current fertility pattern throughout her reproductive span (15-49 years), has seen a steady decline from 3.9 in the 1990s to 2.3 in 2013. Main reasons for infertility burden are: Increasing prevalence of contraceptive use from 45% in 1988 to ~59% in 2015, which is expected to increase to ~62% by 2020 and rising effective age at marriage, from 17.7 years in 1971 to 20.7 years in 2009.
Assisted reproductive technology market report contains detailed overview of the global assisted reproductive technology market in terms of market segmentation by type and treatment.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Assisted Reproductive Technology Market report also provides competitive outlook for some of the major players which includes profiling of companies such as Vitrolife, Ferring Pharmaceuticals, Irvine Scientific, Cook Medical, CellCura, EMD Serono, Esco Micro, IKS International (Gonagen Medikal), INVO Bioscience, IVFtech, CRITEX (MedITEX), Pantec Biosolutions, Research Instruments, and Smiths Medical. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global assisted reproductive technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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