The global fertility services market size was worth around $26,362 million in 2021 and is predicted to grow to around $36,256 million by 2028 at a CAGR rate of 7% over the forecast period.
The global fertility services market was worth around $26,362 million in 2021 and is predicted to grow to around $36,256 million by 2028 at a CAGR rate of 7% over the forecast period. In this report, we will cover the full overview, growth drivers, opportunities, and obstacles of the bubble tea market from 2022 -to 2028
Fertility Services Market: Overview
The fertility service sector is an exclusive service that helps people like couples, single mothers, the LGBT community, and poor marginal people. Treatments like Vitro Fertilization, Artificial Insemination, and surrogacy are given to the new mothers for getting pregnant. Low sperm count, low sperm mobility, and abnormal sperm have become common these days which results in many hormonal imbalances and impairment of sex organs. Rashes and overheated testicles are common reasons for pregnancy issues that are treated in the infertility service sector. Even the probability of getting conceived could come down for women due to many issues like smoking, constant consumption of alcohol, eating disorders, obesity, and stress.
There are many varieties of reasons for impotency of people and all of them can be diagnosed and treated in the fertility service sector. Fertility service sectors are filled with mechanisms and techniques that involve any kind of procreation to start a family. They cure and mend all kinds of genetic issues and infertility problems that help out in conception.
In Vitro fertilization, artificial insemination, surrogacy, and all other methods are employed by the fertility service sectors to cure impotency. Even the male infertility issues have a resolution here and it is offered at affordable prices. The proper functioning of the hypothalamus and pituitary glands is also structured and resurrected in this fertility service sector.
Covid-19 has had a very destabilizing effect on the fertility services market. The fertility clinics stopped taking any new cases and also many innovations on the pipeline were stalled. The Government halted the progress of any new non-urgent egg freezing cases. There were lockdown and curfew implemented during the pandemic times which ceased the manufacturing of any new devices. Pandemic also caused complications for pregnant mothers which also apparently increased their infection rates. The introduction of vaccines improved the condition a little better where new cases are being taken and new methods are about to be introduced which improves the market value
Fertility Services Market: Growth Drivers
The rate of infertility has increased due to factors such as a rise in alcohol consumption and intake of drugs. Stress levels and smoking has also seen a rapid increase due to environmental factors which indirectly has shot up the demand. These reasons have contributed heavily to the market growth
The delay in pregnancies in women also escalates the market growth. The technological advancements across the world in infertility treatment also aid market growth prospectively. Poor sperm morphology and low sperm count in men along with an increase in accessibility are also augmenting growth. Apart from all this, the rise in accessibility and increasing proximity of healthcare facilities act as growth drivers of the market incessantly. The recent spike in modernization along with all the research and development sectors also boosts the market growth.
The insurance coverage for IVF procedures and an increase in the number of IVF procedures due to male infertilities and ovarian failures spike up the demand for fertility services. The government funding programs and novel IVF solutions have become more prominent. Same-sex marriages have also become a trend that stimulates growth exclusively. Late parenthood as a lifestyle coupled with rising disposable income also triggers market growth. The increasing number of prostate cancer has increased the demand for the Fertility Services Market exquisitely. There are also some favorable reimbursement policies for some leverage of fertility mechanisms which aids the market substantially.
Fertility Services Market: Restraints
Strenuous maintenance issues along with increased costs of ART’s techniques hinder the market growth
Maintenance of the devices used in IVF or ART procedures combined with treatment costs impedes market growth considerably. There are also some ethical considerations with respect to following this treatment method which hampers the market growth. The reimbursement policies in many developing countries seem to be lacking which also hampers the improvement of the market rate.
Fertility Services Market: Opportunities
Recent innovations in IVF Technologies combined with rising infertility clinics across the world provide opportunities for market growth
Innovations in IVF Technologies such as embryo scope and capsule IVF increase the demand and leverage of fertility services. Apart from this, the rise in the utilization and emergence of fertility clinics and the rampant increase in same-sex marriage trigger lots of innovations in procreation techniques. This provides lucrative opportunities for the expansion of the market.
Fertility Services Market: Challenges
The high cost of devices used in the IVF techniques along with the pricing of these treatments pose a challenge to the market growth
The production and maintenance cost of devices used in IVF techniques are too high which impacts the market negatively. The maintenance of these devices and the treatment costs for ART procedures are also high which dwindles the demand for leveraging these procedures. Hence the expense required for these services is a challenge for the market growth
Inadequate reimbursement policies in developing countries and lack of insurance coverage or funding also pose challenges to the market
The reimbursement policies in some countries are not very satisfactory for this kind of treatment. The insurance coverage for IVF procedures is also a little less in numbers and quantity. This factor poses a challenge to the market growth as very few people leverage the service because of this reason.
Fertility Services Market: Segmentation
The global fertility services market in this research analysis is divided into infertility, procedure, services, end-user, and region. Infertility is classified as male infertility and female infertility. Procedures are segmented into assistive reproductive technology, In-Vitro fertilization, artificial insemination, surrogacy, and others. The services are donors and non-donors. End-users are hospitals, fertility clinics, clinical research institutes and surgical centers.
Europe is leading in the fertility services market value. This is due to the increasing number of obesity issues and other impotency issues which spikes up the demand for these services. North America trails as the second-largest contributor to the fertility services market because of the increase in arrhythmic diseases and favorable reimbursement policies for patients with growing demand for advanced treatment methods and improving healthcare infrastructures. Asia-Pacific region trails as the next top market due to the increase in adoption of digital devices, and the launch of new procreation techniques.
The key players in the fertility services market are Merck KGaA, Cook Medical, Irvine Scientific Company, Copper Surgical, Kitazato Cooperation, Vitrolife, Ferring B.V., Monash IVF Group, Care Fertility, Apollo Hospitals Enterprise Ltd, Carolinas Fertility Institute, Genea Limited, Medicover Group, Monash IVF Group Limited, Progyny Inc., and Virtus Health.
Global Fertility Services Market is segmented as follows:
The services provided regarding fertilization to the infertile population are known as fertility services. In these services, the healthcare professionals assist for reproduction through various techniques, such as IVF, ART, surrogacy, and a few others. Increasing infertility ratio is one of the major factors triggering the growth of the fertility services market. Moreover, growing public awareness about infertility and the available treatment options will also boost the market significantly during the forecast period. The decreasing fertility rate in males and females can be due to numerous reasons, such as increasing cases of prostate cancer is one of the leading cause of infertility in males as it requires removal of the prostate gland which leads to infertility.
The global fertility services market is segmented as a procedure, services, end-users, and by geography. Based on the procedure, the market is segmented into assisted reproductive technology (ART), in-vitro fertilization, artificial insemination, surrogacy, and others. The in-vitro fertilization segment is further sub-segmented into intracytoplasmic sperm injection (ICSI) and pre-implantation genetic diagnostics (PGD). The artificial insemination segment is again further segmented into intrauterine insemination, intracervical insemination, and others. On the basis of services, the market is segmented into donor and non-donor. The donor segment is further sub-segmented into fresh donor and frozen donor. The non-donor segment is classified into fresh non-donor and frozen non-donor. The end-user segment is bifurcated into fertility clinics, hospitals, and clinical research institutes.
North America held a dominant share of the global market for fertility services in 2017 and is anticipated to continue its dominance in the forthcoming years as well. Advanced healthcare facility, available treatment options, and increasing rate of infertility will drive the market during the forecast period. Followed by North America, Europe is estimated to hold the second largest share in the global fertility services market. Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to the increasing awareness about infertility, changing lifestyle, and increasing disposable income will fuel the market growth in the region. Moreover escalating research and development expenditure, rising prevalence of PCOS and PCOD, and the decreasing fertility rate is some other factors expected to propel the growth of the fertility services market in the Asia Pacific.
Some of the key players in the fertility services market are CooperSurgical, Inc., Vitrolife, Cook, Care Fertility, Monash IVF, INVO Bioscience, Carolinas Fertility Institute, Fertility Focus Ltd., Apollo Hospitals Enterprise Ltd., Merck, LABOTECT GmbH, and Olympus Corporation. Currently, the market’s growth rate is very high, which has encouraged the leading players to focus on consolidation through product licensing and long-term partnerships in order to gain maximum share in the market.
There has been a constant rise in the rate of infertility due to factors such as an increase in alcohol consumption and intake of drugs. Stress levels and smoking has also seen a rapid increase due to environmental factors which indirectly has shot up the demand. These reasons have contributed heavily to the market growth
According to the report by Zion Market Research The global fertility services market was worth around $26,362 million in 2021 and is predicted to grow to around $36,256 million by 2028 at a CAGR rate of 7% over the forecast period
Europe is leading in the fertility services market value. This is due to the increasing number of obesity issues and other impotency issues which spikes up the demand for these services.
The key players in the fertility services market are Merck KGaA, Cook Medical, Irvine Scientific Company, Copper Surgical, Kitazato Cooperation, Vitrolife, Ferring B.V., Monash IVF Group, Care Fertility, Apollo Hospitals Enterprise Ltd, Carolinas Fertility Institute, Genea Limited, Medicover Group, Monash IVF Group Limited, Progyny Inc., and Virtus Health