Discover the latest trends in the assisted reproductive technology market with this comprehensive report. Stay ahead of the competition!
Introduction
The global assisted reproductive technology market
grew year-on-year due to high prevalence of infertility rate amongst the youth
due to drastic change in the lifestyle, especially sedentary lifestyle and
growing dependence on the junk and fast food.
The rise in the funding by private as well as government organizations
to address these causes, rising awareness and concern about the infertility
treatment and surrogacy amongst the youth and middle aged have further fueled
its growth.
What
is Assisted Reproductive Technology?
The Assisted
Reproductive Technology includes all fertility treatments in which either eggs
or embryos are handled. In general, ART procedures involve surgically removing
eggs from a woman’s ovaries, combining them with sperm in the laboratory, and
returning them to the woman’s body or donating them to another woman.
The assisted reproductive technology include in vitro fertilization (IVF), artificial insemination (AI-IUI), frozen embryo development, etc. These technologies have been regularly used in fertility centers and surgical centers for the treatment of infertility.
Overview
of the Assisted Reproductive Technology (ART) Market
The global assisted reproductive technology market was valued at $28.2 billion
in 2022, and it is predicted to reach the figure of $42.5 billion by 2030, riding on the rising awareness about the
infertility and its causes amongst the youth and middle aged people across the
world. The other crucial factors that contribute to its growth are the huge
increase in disposable income to fund these technologies and improving success
rate of assisted reproductive technology. There is growing acceptance of
assisted reproductive technology in the society as a way to treat both male and
female infertility due to adoption of more advanced technologies. For instance,
round about 330,773 assisted reproductive technology procedures have been
conducted successfully in 448 fertility clinics across the United States.
Key
Factors Driving the Growth of the Market
According to a report on rising infertility brought out
by World Health Organization (WHO), about 236 million people, including 48
million couples, across the world have been diagnosed with the
fertility-related issues. Moreover, about 6-12% women in the United States have
been diagnosed with Polycystic Ovary Syndrome (PCOS), obesity, which is another
cause of infertility in women of all age groups. Other causes affecting female
fertility are endometriosis, Primary Ovary Insufficiency (POC), and smoking
habits. The men depending on junk food, beverages, the sedentary lifestyle,
insufficient sleep, and obesity are adding more fuel to this fire, as they are
increasingly becoming vulnerable to erective dysfunction, decrease in sperm
count and quality, reduced sperm motility, sexually transmitted disease (STDs),
etc. These factors also contribute the growth of assisted reproductive technology
market growth in a big way.
Technological
Advancements in ART
Due to the advancements in Medical Sciences, more
progress has been made in the frontiers of assisted reproductive technology
field. Henceforth, new techniques such
as Pre-implant Genetic Testing (PGT), Endometrial Receptivity Analysis Testing
(ERA), Magnetic Activated Cell Sorting (MACS), time-lapse imaging of embryos, intracytoplasmic sperm injection (ICSI), cryopreservation of
embryos or gametes, etc. have emerged in assisted reproductive
technology market in response to the increased demands for assisted
reproductive technology procedures.
Several innovative research activities are going on
the ART field in response the huge leap in demand in assisted reproductive
technology market. For example, the research in the field of culture media for
use in ART lead to the development of a media that has Granulocyte-macrophage
Colony-Stimulating Factor (GM-SF) at a lab owned by CooperSurgicals. This media
contains essential elements required for development of embryo, which, in turn,
will enhance the transmission between endometrium and the developing embryo in
the uterine environment. This development is likely to ensure favorable uterine
environment for the pregnancy.
Market
size and Forecast
According to a report, the North America’s assisted
reproductive technology market is believed to reach a value of over $19.5
billion by 2032. The estimated growth may be due to prevailing bad condition of
reproductive health in the age group of 15-44 years, growing acceptance of
assisted reproductive technology due to its improving success rates. The
increasing success rate may be attributed to the refinement in the existing procedures
and the advent of new innovative technologies. Being a continent of developed
societies that have higher proportion of disposable income, North America is
expected to show an organic market growth in the coming years.
The global assisted reproductive
technology market is likely to grow at a compound annual growth rate of 5.97%
from 2023 to 2030 to reach USD 41.4 billion by 2030.
Competitive
Landscape and Key Players in the Market
The key players in the assisted reproductive
technology market are developing new strategies like innovative product
launches, investing in research, new technology development, and strategic
merger and acquisitions by the private players to further expedite the
industrial growth in the ART sector. For example, CooperCompanies had completed
the acquisition of Generate Life Sciences in 2021 to foray into new fields in
the emerging field of assisted reproductive technology, especially to aid its
already existing fertility offerings. In another acquisition, CooperSugicals
had taken over Embryo Options, a prominent player in cryo-storage software
solutions to delve into new area of fertility clinics offerings. In yet another
transaction, Hamilton
Throne Ltd., a global provider of ART research took over IVFTECH ApS (IVFtech)
and its associated firm, K4 Technology ApS in July 2021. IVFtech is develops
laminar flow workstations and huge-capacity incubators for the ART with the aid
of its associated firm, K4 Technology.
Other
key players in the assisted reproductive technology market include the
following.
1.
Cosmos
Biomedical Ltd.
2.
FUJIFILM
Irvine Scientific
3.
Microm
U.K. Ltd.
4.
Cryolab
Ltd.
5.
European
Sperm Bank
6.
Vitrolife
AB
7.
Bloom
IVF Centre
8.
Ferring
B.V.
9.
Merck
KGaA
Conclusion
The assisted reproductive technology market is
likely to show an organic growth in the coming years due to growing incidence
of infertility amongst the youth across the world due to unhealthy lifestyle,
sedentary life, and the growing dependence on junk food, alcohol, cigarettes,
and the biological causes. Moreover, the refinement of the assisted
reproductive procedure and new innovations make these medical and surgical
interventions more successful consistently, giving more hopes for people for
making their own progenies. Due to these factors, the global assisted reproductive technology market is
poised for grow at a compound annual growth rate of 5.97% from 2023 to 2030 to
reach USD 41.4 billion by 2030.