Market Overview: The anticipated global size of the Assisted Reproductive Technology (ART) market is USD 39.12 Billion by 2030, with a projected revenue Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period. The surge in same-sex marriages and a heightened prevalence of infertility contribute to the market’s revenue growth.
ART involves fertility treatments and procedures designed to assist couples in conceiving when conventional biological methods prove ineffective. Factors such as obesity, adoption of unhealthy dietary habits, and lifestyle choices like alcohol consumption and smoking contribute to infertility. Infertility affects approximately 30% of men, constituting about one-fifth of all cases, according to the American Pregnancy Association. The Centers for Disease Control and Prevention (CDC) reports that 12.1% of women aged 15 to 44 face difficulties conceiving. The global increase in infertility cases is a major driver for the adoption of assisted reproductive technologies.
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Genetic testing, particularly Preimplantation Genetic Testing (PGT), plays a crucial role in ensuring the health of newborns. PGT helps confirm the absence of known genetic markers associated with life-threatening conditions. Advancements in ART technologies are expected to propel market growth, with companies developing sophisticated solutions to enhance success rates and reduce complexities. However, the COVID-19 pandemic has impacted the ART market due to mobility restrictions and safety concerns during treatments.
Market Dynamics:
Driver: Rising Cases of Infertility The escalating rate of infertility prompts infertile couples to turn to ART, which is growing at a rate of 5% to 10% annually. Various factors driving the demand for assisted reproductive technology include lifestyle changes, heightened stress levels, and government initiatives supporting fertility services.
Restraint: Risk of Multiple Pregnancies Multiple pregnancies pose risks to maternal and fetal health, including increased morbidity and mortality. Socio-economic factors, such as the high cost of raising multiple children, act as a restraint.
Type Insights: The global ART market is segmented into artificial insemination, surrogacy, ovulation induction, and others. Surrogacy holds a significant revenue share, driven by its popularity among same-sex couples and the LGBTQIA+ community. However, it faces ethical and legal challenges.
Procedure Insights: The ART market is categorized into fresh donor, fresh non-donor, frozen donor, frozen non-donor, embryo/egg banking, and others. The frozen donor segment dominates, with advancements in freezing techniques improving the viability of thawed eggs and increasing pregnancy success rates.
Procedure Technology Insights: Segmentation based on procedure technology includes In-Vitro Fertilization (IVF), Artificial Insemination-Intrauterine Insemination (AI-IUI), Frozen Embryo Replacement (FER), and others. IVF holds a significant revenue share due to its versatility, broader applicability, and recommendation by doctors when other treatments fail.
End-use Insights: End-use segmentation comprises fertility clinics, hospitals, clinical research, and others. Fertility clinics account for a substantial revenue share, driven by increasing reproductive cases and a sedentary lifestyle.
Regional Insights: In 2022, the European market holds a significant revenue share due to rising infertility rates, increased public awareness, and initiatives supporting fertility services. North America is expected to grow steadily, propelled by awareness of fertility alternatives and technological advancements. Asia Pacific’s growth is attributed to late family planning and reduced treatment costs, with regional initiatives promoting awareness and improving patient care quality.
Competitive Landscape: The ART market is consolidated, with major players such as Cosmos Biomedical Ltd., Microm UK Ltd., CooperSurgical Fertility Solutions, and others. Companies focus on product development, technological advancements, and strategic alliances for market expansion.
Initiatives:
- In January 2022, India implemented the Surrogacy (Regulation) Act 2021 and the Assisted Reproductive Technology (Regulation) Act 2021 to regulate IVF clinics and prohibit commercial surrogacy.
- In February 2021, TMRW Life Sciences launched the world’s first automated Cryo specimen management solution for eggs and embryos used in IVF procedures.
Segments Covered in the Report: The report covers historical data, revenue forecasts, company rankings, competitive landscape, growth factors, and trends. Segmentation is based on type, procedure, procedure technology, end-use, and region.
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