The assisted reproductive technology market was valued at USD 17.80 Billion in 2018 and is expected to reach USD 43.14 Billion by 2026 growing at a Compound Annual Growth Rate (CAGR) of 11.70% from 2018 to 2026. Rising work load and job pressure towards mankind are increasing the disposable income of the global populations. However, this has led to the rise in stress and physical distortion. In addition, the number of employed female population is increasing with the advancement of days. Hence, lack of mental relief and changes in lifestyles and food habits are increasing the rates of infertility. The fertility of both male and female population is reducing with the advancement of technologies and exposure of unhealthy food habits. These are the major factors expected to drive the global assisted reproductive technology market during the forecast period. Rise in the median age of first-time conceiving is another factor proving to be a prime cause of fertility defects which in turn will create new necessities and augment the market of growth over the forecast period of 2018-2026.
The assisted reproductive technology market has been segmented based on types which is further divided IVF (In-Vitro Fertilization), GIFT (Gamete Intrafallopian Tube Transfer), IUI (Intra Uterine Insemination) and Others. Based on end-user, the assisted reproductive technology market has been segmented as fertility clinics and hospitals. High success rates and increased public and private investment towards setting up of IVF centers are expected to be the prime reasons for the IVF segment to grow significantly during the forecast period. IVF segment has been sub-segmented into ICSI (Intracytoplasmic Sperm Injection). ICSI segment is expected to grow at fastest rate owing to the rising incidence of infertility among men owing to the direct and passive smoking and excessive alcohol intake. PGD (Preimplantation Genetic Diagnosis) has improved the success rate of IVF and is further expected to propel the assisted reproductive technology significantly owing to the rising awareness among prospective parents by eliminate possibilities of genetically defective child birth.
The global assisted reproductive technology market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, Europe region holds the largest market share. The reason may be attributed to the government initiatives, public awareness regarding infertility and high rates of infertility. Investment towards bringing advancement in fertilization technologies has further propelled the maker share of Europe region. In addition, Asia Pacific assisted reproductive technology market is expected to propel at the highest rate owing to the increasing accessibility towards adopting advanced fertility services coupled with the rise in tendency to lead western lifestyles. Countries across North America region are increasing their investment towards research and developments of new techniques of infertility management and the rise in the numbers of healthcare institutes are expected to drive the North America assisted reproductive technology market during the forecast period.
Some of the key players in the global assisted reproductive technology market include Bloom IVF Centre, CooperSurgical Inc., Cosmos Biomedical, Cryolab Ltd., European Sperm Bank, Ferring B.V., Merck Group, Irvine Scientific., Microm UK Ltd. and Ovascience.
· Fertility Clinics
· North America
o Rest of Europe
· Asia Pacific
o Rest of Asia Pacific
· Middle East and Africa
o South Africa
o Rest of Middle East and Africa
· Latin America
o Rest of Latin America