Artificial Womb Facility Market
Artificial Womb Facility Market - Global Industry Assessment & Forecast
- By End Users Research Centers, Super-Specialty Hospitals, Other End Users
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||XX Billion|
|Revenue 2028:||XX Billion|
|Revenue CAGR (2022 - 2028):||X.X%|
|Fastest Growing Region (2022 - 2028)||North America|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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Artificial Womb Facility Market - Global Industry Assessment & Forecast
The Global Artificial Womb Facility Market was valued at USD XX Billion in 2021 and is projected to reach a value of USD XX Billion by 2028. The Global Market is anticipated to exhibit a CAGR (Compound Annual Growth Rate) of X.X% over the forecast period.
An artificial womb is a device that allows parents for an extracorporeal pregnancy. Artificial wombs replicate the conditions required for a baby to grow in the uterus. Several scientists are conducting studies for developing artificial wombs. In 2017, a Philadelphia research team developed something similar to an artificial womb for the very first time. The prototype successfully supported lamb fetuses.
Artificial Womb Facility Market Size, 2021 To 2028 (USD Billion)
Recently, EctoLife introduced a novel concept for the first Artificial Womb Facility in the world. Molecular biologist Hashem Al-Ghaili introduced this concept. The whole concept of EctoLife is based on studies conducted over 50 years. This facility will be able to grow 30000 babies a year. It offers parents an option to develop babies in an artificial womb. Through an "Elite Package," the gene of these babies can be modified in such a way that they can customize the eye color, height, intelligence, hair, physical strength, and even skin tone of the baby. This facility runs on renewable energy and plans to have 75 labs, each equipped with up to 400 growth pods. These pods are designed in a way that they replicate the same environment that is present in the uterus. In these pods, the temperature is controlled. It is infection free. An artificial umbilical cord is attached to the baby, providing the baby with oxygen and nutrients from a bioreactor. The tot floats in the amniotic fluids are continuously refreshed with tailored antibodies, hormones, and necessary growth factors. The baby's waste is removed, run through a bioreactor, and converted back into nutrients. The pods have an artificial intelligence-based system that can monitor the physical features and allows parents to keep track of their baby's growth and development from a camera attached to the pod that provides data in real-time. Through this monitoring system, they can also report any potential genetic abnormalities. The parents can enjoy the pregnancy experience by even feeling the kicks and movements of the baby. The baby's delivery can be done with one push of a button. EctoLife provides a pain-free, safe alternative for delivering the baby without stress.
Growing Human Population to Augment Market Growth
The world's population is rapidly increasing; today, it is three times larger than in the 20th century. According to the statistics published by United Nations, the world's population is expected to increase by nearly 2 billion persons in the next 30 years, from the current 8 billion to 9.7 billion in 2050. It could peak at nearly 10.4 billion in the mid-2080s. EctoLife is a safe option that can be offered to women that might have required to remove their uterus owing to complications such as cancer. This solution will aid countries facing population declines, such as South Korea, Japan, and Bulgaria. Furthermore, there has been a significant increase in infertility among males and females. Infertility is increasing nowadays due to poor lifestyles, eating habits, erratic sleep patterns, smoking, growing alcohol consumption, and rising air pollution. Parents having infertility are usually not comfortable with surrogacy. In such cases, opting for an artificial womb also solves this complication and becomes heart-warming for such parents.
Benefits Offered that Help Avoid Pregnancy Complications to Aid Market Growth
Ectolife provides benefits such as avoiding women's pain during natural childbirth, premature birth, and C-sections. According to the World Health Organization (WHO), around 300,000 deaths are due to pregnancy complications. Women face several complications during childbirth, including severe bleeding, obstructed labor, unsafe abortion, and obstetric fistula. EctoLife can make C-sections and premature births turn into history. Moreover, EctoLife offers options that help parents opt for modifying their genes for choosing eye color, hair color, intelligence level, height, as well as strength. Since the system is artificial intelligence-based, it also helps monitor the physical features of the baby and helps in detecting any genetic disorder/abnormalities. Thus, owing to such benefits, the demand for artificial womb facilities can be estimated to grow higher during the forecast period.
Ethical Constraints to Hinder Market Growth
The technology is completely developed. However, ethical constraints for approval are acting as a restraint to the market. Moreover, since the technology is novel and very secure, the cost of developing an artificial womb will be quite high. Thus, it might not be affordable to low-income and middle-income populations and becoming affordable to higher-income populations. Such factors limit market growth to a certain extent.
The Artificial Womb Facility Market is segmented based on the segmentation categories- End-Users, and Region. Based on the End Users, the Global Artificial Womb Facility Market is further segmented into Research Centers, Super-Specialty Hospitals, and Other End Users. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on End Users
The Global Artificial Womb Facility Market is categorized into Research Centers, Super-Specialty Hospitals, and Other End Users. The Super Specialty Hospitals segment is anticipated to hold a higher market share during the forecast period. Super Specialty Hospitals have advanced infrastructure that helps support these pods. Such benefits at these hospitals are anticipated to be a driver of segmental growth. EctoLife is also available to experience in the comfort of the home since these pods have a long battery life and create a much more comfortable environment for the parents. This could fuel the demand for the other segment.
Based on Region
North America and Europe are anticipated to hold the largest market share during the coming years. The availability of modern and highly advanced facilities supporting this technology is one of the major factors expected to propel the market during the forecast. Moreover, since these pods are maintained by highly developed technology, the cost of these pods is anticipated to be high. Since the GDP of the population in North American countries and European countries is quite higher, the demand for this solution is anticipated to be higher in these regions. According to the World Bank, in 2021, the GDP in the United States was worth 22996.10 billion. Infertility among the population is one of the key drivers of the market. According to the Centers for Disease Control and Prevention (CDC) in the US, among heterosexual women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women in this group have difficulty getting pregnant or carrying a pregnancy to term (impaired fecundity). Furthermore, ethical complications in opting for surrogacy will also fuel the demand for these artificial womb facilities once they are available.
· EctoLife Research Company
Segmentation of the Global Artificial Womb Facility Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Artificial Womb Facility in terms of revenue?
The global Artificial Womb Facility valued at XX Billion in 2020 and is expected to reach XX Billion in 2028 growing at a CAGR of X.X%.
Which are the prominent players in the market?
The prominent players in the market are EctoLife.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of X.X% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Artificial Womb Facility include
- Benefits Offered that Help Avoid Pregnancy Complications to Aid Market Growth
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Artificial Womb Facility in 2020.