June 11, 2020
According to a recent study titled ‘Assisted Reproductive Technology Market Size By Procedure, By Technology, By End-Use Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global assisted reproductive technology (ART) market is expected to witness tremendous growth over 2020-2026.
High prevalence of infertility among the global population, growing acceptance of assisted reproductive technology, and improving healthcare infrastructure are fueling the market growth.
Assisted reproductive technology (ART) procedures involves surgical removal of eggs from the ovaries of a woman’s body, which are then combined with sperm to form embryos and are finally returned to woman’s body or to a surrogate/gestational carrier. Among the procedures, in-vitro fertilization (IVF) is effective and widely preferred assisted reproductive technology.
Moreover, ART at times involves donor sperm, frozen embryos or donor eggs. However, these procedures are usually the last resort when all other infertility treatment options fail in achieving pregnancy.
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Based on the procedure type, embryo/egg banking segment accrued USD 4.8 billion in 2019 and is expected to see modest gains over the forecast period. Increasing establishment of sperm banks along with progressive perception towards ART in emerging economies are fueling the segment growth.
Elaborating on the technology scope, IVF segment is estimated to record a CAGR of 3.8% over assessment period. High success rate and reliability, expansive awareness, and enhanced procedure are the key factors supporting the demand for IVF technology. The procedure involves the collection of woman’s eggs and sperm from the male donor which are left together in a culture dish in laboratory to induce fertilization. Upon fertilization, the embryo is placed inside the woman’s uterus. Also, if multiple embryos develop, they are frozen to be used for transfer procedures later.
Speaking of the end-use spectrum, the industry is categorized into fertility clinics, hospitals, and others, wherein hospitals segment is projected to amass USD 7 billion by the year 2026. Patient inclination towards hospitals can be credited to availability of skilled professionals and advanced & sophisticated facilities.
On the geographical front, Asia Pacific assisted reproductive technology market is projected to register a 5.8% CAGR through 2026, owing to increasing working women population in tandem with shift in childbearing age and delayed pregnancy which may lead to fertility issues. Developing healthcare infrastructure in the region is further boosting the market outlook.
Prominent industry players include Cooper Surgical Inc. (CooperSurgical), Cook Medical, Genea Limited, Irvine scientific, Hamilton Thorne, IVFtech ApS, Merck Group, LABORATOIRE CCD, Nidacon International AB, Vitrolife, and Thermo Fisher Scientific.