Assisted Reproductive Technology Market Size to Reach USD 54.75 Billion in 2028 | Industry Trend – Rising Awareness of Infertility and Other Reproductive Disorders Among the Population
Emergen Research has published its latest report titled “Assisted Reproductive Technology Market, By Product (Media, Catheters, Needles, Vitrification Devices, Incubators, Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, Frozen Non-donor, Embryo/Egg Banking), By Technology (In-vitro Fertilization, In-vitro Fertilization with Intracytoplasmic Sperm Injection, In-vitro Fertilization without Intracytoplasmic Sperm Injection, Frozen Embryo Replacement, Artificial Insemination), By End-use (Hospitals, Fertility Clinics, Others), and By Region Forecast to 2028”
According to Emergen Research, the global assisted reproductive technology market size was USD 25.95 Billion in 2020 and is expected to reach USD 54.75 Billion in 2028 and register a revenue CAGR of 9.7% during the forecast period, 2021-2028.
Steady revenue growth of the global assisted reproductive technology market is attributed to factors such as rising prevalence of infertility due to obesity, diabetes, genetic defects, and unhealthy lifestyle choices such as smoking and alcohol consumption, and increasing awareness of infertility and various other reproductive disorders among the population, particularly in developing countries around the world like India and China. According to statistics provided by the World Health Organization (WHO), approximately 186 million people across the globe have been identified with infertility issues. Rapid adoption of assisted reproductive technologies such as in-vitro fertilization (IVF), intrauterine insemination, intrafallopian transfer, intracytoplasmic sperm injection (ICSI), and frozen embryo replacement is another major factor driving revenue growth of the global market to a significant extent.
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Assisted reproductive technology – abbreviated as ART – is an umbrella term for medical procedures that address infertility and other reproductive issues. Also referred to as fertility treatment, ART includes various procedures such as IVF, ICSI, fertility medication, and cryopreservation of embryos. Factors that further drive the global assisted reproductive technology market revenue growth are rising prevalence of polycystic ovarian syndrome (PCOS) among women, growing awareness of reproductive health among individuals, rise in research & development activities for more advanced and minimally invasive reproductive technologies, and growing number of fertility clinics around the world.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Artificial Insemination Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the artificial insemination segment accounted for the largest revenue share in the global assisted reproductive technology market in 2020. Rising awareness of the advantages of the procedure, such as no need for removal of eggs and laboratory monitoring, minimally invasive, and higher cost-effectiveness compared to other procedures such as IVF, is a key factor driving revenue growth of this segment.
Hospitals Segment to Account for Fastest Revenue CAGR:
Based on end-use, the hospitals segment is projected to register the fastest revenue CAGR in the global assisted reproductive technology market over the forecast period. Major factors contributing to revenue growth of this segment are growing prevalence of infertility, rapid adoption of assisted reproductive technologies in hospitals, rapidly advancing healthcare infrastructure, and increasing availability of well-resourced operating and surgical rooms.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America assisted reproductive technology market was the most dominant in terms of largest revenue share in the global market in 2020. Rising prevalence of infertility among women and men, increasing awareness of the condition among the populace, technological advances in ART procedures, rising number of fertility clinics, and presence of key market players in the region, including FUJIFILM Irvine Scientific, Inc. and Ovascience, are key regional market growth drivers.
Major Companies in the Global Assisted Reproductive Technology Market Include:
- Cryolab Ltd.
- Bloom IVF Center
- Ferring Pharmaceuticals
- Cosmos Biomedical
- FUJIFILM Irvine Scientific, Inc.
- European Sperm Bank,
- Microm UK Ltd.
- Cook Medical
- The Cooper Companies Inc.
- Hamilton Thorne
- Thermo Fisher Scientific
- Merck KGaA
- Vitroife AB
- Celmatix, Inc.
- FertiPro N.V.
For the purpose of this report, Emergen Research has segmented the global assisted reproductive technology market on the basis of product, procedure, technology, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Vitrification Devices
Procedure Outlook (Revenue, USD Billion; 2018-2028)
- Fresh Donor
- Fresh Non-donor
- Frozen Donor
- Frozen Non-donor
- Egg/Embryo Banking
Technology Outlook (Revenue, USD Billion; 2018-2028)
- In-vitro Fertilization (IVF)
- In-vitro Fertilization (IVF) with Intracytoplasmic Sperm Injection (ICSI)
- In-vitro Fertilization (IVF) without Intracytoplasmic Sperm Injection (ICSI)
- Frozen Embryo Transfer (FET)
- Artificial Insemination
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Fertility Clinics
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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