The global Assisted Reproductive Technology Market is valued at USD 25.1 Billion in 2022 and is projected to reach a value of USD 40.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.3% between 2023 and 2030.
The market for Assisted Reproductive Technology includes a variety of medical methods and procedures meant to help people and couples achieve pregnancy when natural conception proves difficult or impossible. In vitro fertilization (IVF), intrauterine insemination (IUI), egg freezing, and other reproductive procedures are included. In recent years, the global ART business has grown significantly, owing to factors such as rising infertility rates, postponed family planning, and a larger societal acceptance of non-traditional family configurations. Medical technology breakthroughs, improved success rates, and increased awareness about fertility treatments are key drivers of the Assisted Reproductive Technology market's rise.
Assisted Reproductive Technology Market Size, 2022 To 2030 (USD Billion)
- Factors such as advanced mother age, hormonal abnormalities, hereditary variables, lifestyle choices, and infections are significantly contributing to the growth in infertility rates, which will fuel demand worldwide Assisted Reproductive Technology.
- In 2022, the in vitro fertilization category accounted for the greatest part of global sales.
- Europe dominated the sector in 2022, accounting for more than 35.5% of total sales.
- The Asia Pacific region, on the contrary, is expected to grow at a faster rate by the end of 2030.
Top Market Trends
- The rising prevalence of infertility is driving the expansion of the Assisted Reproductive Technology market. According to the (WHO), roughly 15% of couples worldwide have infertility, and Assisted Reproductive Technology techniques can help these people. Furthermore, developments in medical technology have made Assisted Reproductive Technology operations more successful and accessible, driving up demand.
- The tendency toward delayed childbearing is another element driving the expansion of the Assisted Reproductive Technology business. As more women pursue higher education and employment, they are delaying having children. This trend, combined with the natural loss in fertility that comes with age, has resulted in a rise in the need for Assisted Reproductive Technology procedures.
- The increased acceptance of Assisted Reproductive Technology in society as a result of the adoption of more advanced technologies such as Pre-implantation Genetic Testing (PGT), Magnetic Activated Cell Sorting (MACS), Endometrial Receptivity Analysis Testing (ERA), and time-lapse visualization of embryos is expected to drive demand for Assisted Reproductive Technology procedures.
- Several organizations, including the American Society for Reproductive Medicine and the Society for Assisted Reproductive Technology (SART), are collaborating to raise awareness about infertility treatment choices.
- The number of single women visiting fertility clinics has increased significantly over the world. Factors such as social acceptance and an increase in divorces in industrialized countries such as the United States are leading to an increase in single-parent families. As a result, an increase in the number of people seeking to create a single-parent family can drive a considerable increase in the number of Assisted Reproductive Technology procedures performed to have a child, driving the worldwide assistive reproductive technology market growth throughout the projection period.
- During the projected period, technological progress, the introduction of novel products, and significant acquisitions and mergers by key players are likely to drive industry expansion. CooperCompanies, For example, in December 2022, Generate Life Sciences was acquired. Generate Life Sciences is the world's leading donor egg and sperm provider for reproductive therapies. CooperCompanies' fertility products are set to profit from the USD 1.6 billion deal.
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The market for Assisted Reproductive Technology is experiencing serious economic obstacles that could hinder its growth trajectory. The cost of fertility treatments and Assisted Reproductive Technology procedures can be extremely expensive, far exceeding many prospective parents' financial capacities. Individuals and couples may postpone or forego Assisted Reproductive Technology treatments as a result of economic downturns and financial uncertainty, reducing overall demand for these services. Furthermore, healthcare policy and insurance coverage for Assisted Reproductive Technology vary greatly, leaving many people to pay the entire financial expense on their own. As economic conditions change, people may prefer other critical expenses over fertility treatments, thereby slowing the expansion of the Assisted Reproductive Technology sector. As a result, the economic backdrop shapes the future of the Assisted Reproductive Technology business, with price and accessibility remaining essential elements in its long-term development.
The Global Assisted Reproductive Technology Market is segregated into the segments as mentioned below:
The global Assisted Reproductive Technology market can be categorized into Product, Technology, End User, Region. The Assisted Reproductive Technology market can be categorized into Instrument, Accessory & Disposable, Reagents & Media based on Product. The Assisted Reproductive Technology market can be categorized into In Vitro-Fertilization, Artificial Insemination, Other Technologies based on Technology. The Assisted Reproductive Technology market can be categorized into Fertility Clinic, Hospital, Surgical Center, Clinical Research Institute based on End User. The Assisted Reproductive Technology market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.
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Based on Technology
In Vitro-Fertilization to Lead Maximum Market Share Due to the Growing Use of IVF
In 2022, the in vitro fertilization segment is poised to dominate the global market for Assisted Reproductive Technology. IVF further divides the industry into fresh donor, frozen donor, fresh non-donor, and frozen non-donor. The growth can be ascribed to the advantages of frozen non-donor IVF over conventional IVF techniques. When a woman is releasing healthy eggs and undergoes Assisted Reproductive Technology owing to male infertility or fallopian tube deformity, the frozen non-donor method is used. Intrauterine insemination, intravaginal insemination, intracervical insemination, and intratubal insemination are the subcategories of this segment because of their high procedural success rate and continuing developments that meet patient demand. Previously, sperm were injected to improve IVF success rates. However, a time-lapse imaging device is currently employed to capture an image of the egg division. As a result, the introduction of such advanced technologies in IVF treatment is one of the Assisted Reproductive Technology industry trends expected to increase the use of fertility services throughout the forecast period.
Based on End User
Fertility Clinic segment Expects Dominion Owing to the Growing Demand for Increase In Infertility Patients.
In 2022, the Fertility Clinic segment will dominate the Assisted Reproductive Technology market. The large share and rapid development can be linked to an increase in infertility patients and the requirement for a specialized location to perform Assisted Reproductive Technology. For example, Gulf Capitals Assisted Reproductive Technology Fertility Clinics, situated in West Asia, announced plans in May 2021 to invest USD 31.3 million in the construction of 18 clinics in key Indian cities by 2023. Furthermore, cost-effectiveness, specialization, experience in the field, and tailored treatment are expected to drive segment expansion during the projection period.
Based on Region
Europe To Dominate Global Sales Owing to Increase In The Rate Of Infertility
In 2022, the European region emerged as the dominant player in the Assisted Reproductive Technology market. The high percentage can be attributed to a rise in the rate of infertility, increased awareness about fertility treatments, technological advancements, and government support. According to the European Society of Human Reproduction and Embryology, the European Union has the highest rate of infertility in the world, with over 25 million people affected. The rising prevalence of infertility, together with increased demand for Assisted Reproductive Technology operations, are the primary reasons for this region's dominance in the global fertility services market.
The Assisted Reproductive Technology industry in North America is rapidly growing in popularity. Due to the rapidly rising incidence of infertility and lessened socio-ethical stigma among the population. For example, the WHO estimates that the general incidence of primary infertility in India ranges from 3.9% to 16.8%. Furthermore, the emerging markets in some nations, such as Australia, China, and Japan, are likely to contribute to Asia Pacific growth
The global Assisted Reproductive Technology market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include Thermo Fisher Scientific Inc. (U.S.), Oxford Gene Technology IP Ltd. (UK), Genea Biomedx (Australia), The Cooper Companies Inc. (U.S.), and Inception Sciences Inc. (U.S.), to name a few. These businesses are concentrating their efforts on research and development in order to create unique and long-lasting products. Strategic alliances, mergers, and acquisitions are also common in the industry as companies seek to extend their product offerings and market presence.
The key players in the global Assisted Reproductive Technology market include - Thermo Fisher Scientific Inc. (U.S.), Oxford Gene Technology IP Ltd. (UK), Genea Biomedx (Australia), The Cooper Companies Inc. (U.S.), Inception Sciences Inc. (U.S.), Fujifilm Holdings Corporation (Japan), Vitrolife AB (Sweden), Progyny Inc. (U.S.), Merck KGAA (Germany), Cook Group (U.S.) among others.
Recent Market Developments
- In February 2023, Bumrungrad International Hospital opened its Fertility Center & IVF Clinic, which provides holistic reproductive care for families seeking to conceive, from counseling to Assisted Reproductive Technology (ART).
- In June 2022, Inception Fertility expanded its ecosystem with the introduction of HavenCryo, an ongoing reproductive tissue and cryopreservation preservation solution that provides fertility professionals and patients with a one-of-a-kind experience. It incorporates Assisted Reproductive Technology (ART).
- In March 2022, CK Birla Fertility, Birla Healthcare's premier fertility facility, opened in New Delhi using Assisted Reproductive Technology.
Segmentation of the Global Assisted Reproductive Technology Market
- Accessory & Disposable
- Reagents & Media
- In Vitro-Fertilization
- Artificial Insemination
- Other Technologies
By End User
- Fertility Clinic
- Surgical Center
- Clinical Research Institute
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Thermo Fisher Scientific Inc. (U.S.)
- Oxford Gene Technology IP Ltd. (UK)
- Genea Biomedx (Australia)
- The Cooper Companies Inc. (U.S.) Inc.ption Sciences Inc. (U.S.)
- Fujifilm Holdings Corporation (Japan)
- Vitrolife AB (Sweden)
- Progyny Inc. (U.S.)
- Merck KGAA (Germany)
- Cook Group (U.S.)
|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
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