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Assisted Reproductive Technology Market Expected CAGR of 7.8%; To Surpass USD 57.9 Bn by 2032

MarketResearch.biz
MarketResearch.biz

MarketResearch.biz reports that the demand for Assisted Reproductive Technology is expected to rise in the coming years as advancements in medical science and technology to overcome infertility challenges and help individuals or couples achieve their dreams of parenthood.

New York, July 11, 2023 (GLOBE NEWSWIRE) -- Global Assisted Reproductive Technology Market size accounted for USD 27.9 Bn in 2022. It is projected to surpass around USD 57.9 Bn by 2032, and it is poised to reach a CAGR of 7.8% from 2023 to 2032.

Assisted reproductive technology Market refers to medical procedures that assist in achieving pregnancy when traditional methods are unsuccessful. These procedures can help individuals and couples struggling with infertility or those who may be at risk for passing on genetic disorders to their offspring. ART includes a variety of procedures, such as in vitro fertilization, intrauterine insemination, intracytoplasmic sperm injection, & preimplantation genetic testing, among others. These procedures may involve the use of fertility medications, surgical interventions, or the uses of donated eggs, sperm, or embryos.

Assisted Reproductive Technology Market
Assisted Reproductive Technology Market

Get additional highlights on major revenue-generating segments, Request an Assisted Reproductive Technology Market sample report at: https://marketresearch.biz/report/assisted-reproductive-technology-market/request-sample

Key Takeaway

  • By product type, the accessory & disposable segment leads the market with the highest revenue share of 52.3%.

  • By technology, the in-vitro fertilization segment is projected to hold the largest market share of 87%.

  • By procedure, the fresh non-donor segment is likely to grow at the highest rate with a revenue share of 40%.

  • By end-user, fertility clinics dominate the segment with a revenue share of 40.5% in the account.

  • Europe held a significant revenue share of 39.2% in 2022.

  • Asia Pacific market is anticipated to grow at a high CAGR during the forecast period.

The rising incidences of infertility, rising disposable income, and Technological advancements are major factors that have propelled the demand for assisted reproductive technology. Additionally, increasing awareness regarding ART, government support, and investments in research and development processes are expected to fuel the market growth during the projection period.

Factors Affecting the Growth of the Assisted Reproductive Technology Market

Several factors can affect the growth of the Assisted Reproductive Technology market. Some of these factors include:

  • Technological advancements: Several advancements in assisted reproductive technology have significantly improved the success rates of fertility treatments, expanded options for individuals and couples, and increased the chances of achieving a healthy pregnancy and childbirth. Thus, technological advancements will likely drive the demand for assisted reproductive technology over the projection period.

  • Rising disposable income: ART success rates can vary; sometimes, multiple treatment cycles are required to achieve a successful pregnancy. Higher disposable income can provide individuals with the financial means to undergo multiple treatment cycles, increasing their overall chances of success. They may be more willing and able to invest in repeated attempts, which can be financially burdensome for those with limited resources. Thus, increasing disposable income is expected to duel the demand for ART during the projection period.

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Top Trends in Global Assisted Reproductive Technology Market

The growing interest in alternative treatments:

There is growing interest in alternative treatments such as acupuncture, nutrition, and lifestyle changes to improve fertility outcomes. These treatments are used with traditional ART procedures to improve outcomes and reduce the physical and emotional toll on patients. Thus, rising interest in alternative treatments can be considered a positive trend and will likely boost the market's growth in the upcoming period.

Market Growth

The rising prevalence of infertility is driving the demand for assisted reproductive technology during the estimated period. Also, new technological advancements and rising disposable income in developing countries stimulate the market's growth during the projected time. Furthermore, new strategic initiatives and rising awareness regarding ART will propel market growth during the forecast period.

Regional Analysis

Europe region leads the market by accounting for a significant revenue share of 39.2%. Europe benefits from advanced healthcare systems and high-quality medical infrastructure. These factors contribute to the availability of well-equipped fertility clinics and skilled healthcare professionals who can provide a wide range of ART treatments. Thus, the presence of an advanced healthcare system is a major factor driving the regional market growth during the forecast period. The Asia-Pacific region is expected to grow rapidly over the forecast period. Countries such as China, India, and Japan have large populations and growing middle classes, driving the region's demand for infertility treatment services.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Some of the major players include Cosmos Biomedical Ltd., Microm U.K. Ltd., CooperSurgical, Inc., FUJIFILM Irvine Scientific, Cryolab Ltd., Vitrolife AB, European Sperm Bank, Bloom IVF Centre, Merck KGaA, Ferring B.V., Cook Medical Inc., Fujifilm Holdings Corporation, Genea Biomedx, Thermo Fisher Scientific, Inc., Millendo Therapeutics, Inc., Oxford Gene Technology, Progyny Inc., Other Key Players.

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Scope of Report

Report Attribute

Details

Market Value (2022)

USD 27.9 Bn

Market Size (2032)

USD 57.9 Bn

CAGR (from 2023 to 2032)

7.8%

Europe Revenue Share

39.2%

Historic Period

2016 to 2022

Base Year

2022

Forecast Year

2023 to 2032

Market Drivers

Technological advancements & rising disposable income

Advances in medical technology, such as in vitro fertilization (IVF) and intracytoplasmic sperm injection (ICSI), have improved the success rates of ART procedures and expanded the types of patients who can benefit from them. Thus, technological advancements are a key factor driving the market growth over the projection period. Also, increasing disposable income will likely fuel the demand for assisted reproductive technology during the forecast period.

Market Restraints

Ethical concerns

There are some ethical & moral concerns surrounding ART procedures, such as using donor eggs or sperm, embryo selection, & surrogacy. These concerns can limit the acceptance of these procedures among some patients or healthcare providers. Thus, ethical & moral concerns may limit the market growth during the projected period.

Market Opportunities

Increasing government support

Governments in some countries are providing financial support for ART procedures, making them more accessible to a wider range of patients. There is potential for significant growth in emerging markets, where access to ART treatments is limited, but demand is increasing. Thus, rising government support will likely stimulate segment growth during the upcoming period.

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Report Segmentation of the Assisted Reproductive Technology Market

By Type Insight

The IVF-ET (in-vitro fertilization-embryo transfer) segment will likely dominate the market during the forecast period. The success rates of IVF have significantly improved over the years due to advancements in technology, laboratory techniques, and medications. Higher success rates have instilled confidence in individuals and couples considering IVF, increasing the demand for the procedure. Also, artificial insemination is expected to grow rapidly over the projection period. The growth of this segment is driven by the high cost-effectiveness and affordability provided by this procedure.

By End-user Insight

Fertility clinics dominate the end-user segment by accounting for the largest revenue share in the market. The availability of financial support or insurance coverage for fertility treatments, including ART, has made these services more accessible to a wider population. Financial assistance and insurance coverage help individuals and couples afford the costs associated with fertility treatments, driving the demand for ART services. On the other hand, the hospital segment is likely to experience high growth over the projected period, as hospitals provide a wide range of healthcare services, including assisted reproductive technology procedures.

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Market Segmentation

By Type

  • IVF-ET (in-vitro fertilization-embryo transfer)

  • ZIFT (zygote intrafallopian transfer)

  • FET (frozen embryo transfer)

  • GIFT (gamete intrafallopian transfer)

By End-User

  • Fertility Clinic

  • Hospital

  • Surgical Center

  • Clinical Research Institute

  • Other End-Users

Key Regions

  • North America

    • The US

    • Canada

    • Mexico

  • Western Europe

    • Germany

    • France

    • The UK

    • Spain

    • Italy

    • Portugal

    • Ireland

    • Austria

    • Switzerland

    • Benelux

    • Nordic

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • The Czech Republic

    • Greece

    • Rest of Eastern Europe

  • APAC

    • China

    • Japan

    • South Korea

    • India

    • Australia & New Zealand

    • Indonesia

    • Malaysia

    • Philippines

    • Singapore

    • Thailand

    • Vietnam

    • Rest of APAC

  • Latin America

    • Brazil

    • Colombia

    • Chile

    • Argentina

    • Costa Rica

    • Rest of Latin America

  • Middle East & Africa

    • Algeria

    • Egypt

    • Israel

    • Kuwait

    • Nigeria

    • Saudi Arabia

    • South Africa

    • Turkey

    • United Arab Emirates

    • Rest of MEA

Key Market Players

  • Cosmos Biomedical Ltd.

  • Microm U.K. Ltd.

  • CooperSurgical, Inc.

  • FUJIFILM Irvine Scientific

  • Cryolab Ltd.

  • Vitrolife AB

  • European Sperm Bank

  • Bloom IVF Centre

  • Merck KGaA

  • Ferring B.V.

  • Cook Medical Inc.

  • Fujifilm Holdings Corporation

  • Genea Biomedx

  • Thermo Fisher Scientific, Inc.

  • Millendo Therapeutics, Inc.

  • Oxford Gene Technology

  • Progyny Inc.

  • Other Key Players

Recent Development of the Assisted Reproductive Technology Market

  • March 2020: A team of researchers in China used CRISPR gene editing technology to genetically modify human embryos, igniting renewed debate and scrutiny around the ethics and safety of embryo editing in assisted reproductive technology.

  • November 2019: California passed legislation that made it legal for doctors to donate unused embryos to research, a move that could spur innovation and advancements in the field of assisted reproductive technology.

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